17/07/2018: Biggest Stories in the Cryptosphere

by BlockEx

1. IBM And Stronghold Launch StableCoin

Technology company IBM and financial services provider Stronghold have launched a US Dollar-pegged stable coin called Stronghold USD. The coin was launched today on the Stellar blockchain platform. Buyers will be able to deposit their funds with the partner bank Prime Trust and then receive the equivalent on a 1-to-1 ratio. The idea is for Stronghold USD to be used when doing business, including transactions between financial institutions and asset managers. However, retail consumers might also gain access to this service in the coming months. IBM is tasked with assessing which are the potential uses with business networks by Stronghold developed. The news comes following our reports on crypto company Stasis issuing a euro-pegged cryptocurrency called EURS.

2. UK To Become Leader In Blockchain And Crypto

The UK is set to move at the forefront of blockchain and crypto technologies. A research study, conducted by the Big Innovation Centre, DAG Global and Deep Knowledge Analytics, affirmed that the country has the requirements and attitude to become a global hub by 2022. The UK is already a recognised global financial hub and the FinTech industry is also booming. Furthermore, given the current situation, there is also the possibility of blockchain and crypto expanding in the country. The authors discussed how currently there is a gap between the financial industry and the crypto market, a gap which they expect to shrink over the years. Finally, even if still at the early ages, blockchain has already been acknowledged by the UK parliament.

3. Boeing and SparkCognition Partners To Improve Air Flight Tracking

Boeing and SparkCognition will adopt blockchain technologies and artificial intelligence (AI) to track unmanned air vehicles in flight as well as allocating traffic corridors and routes. This will create a safer and more secure transportation. Commercial applications such as package delivery and industrial inspection will also benefit from a standardized programming interface. Founder and CEO of SparkCognition Amir Husain stated that this project will lead to the creation of a new market estimated to be worth $3 trillion. Considering that Boeing is one of the largest global aircraft manufacturers, it’s not difficult to see how this could actually be possible.

4. NatWest Joins Consortium Marco Polo

Royal Bank of Scotland Group’s NatWest has joined the consortium Marco Polo. The group was founded by blockchain startup R3 and trade finance specialist TradeIX. The consortium now includes 10 institutions and enjoyed a funding round of $16 million. The other members are BNP Paribas, Commerzbank, ING, Standard Chartered Bank, Natixis, Bangkok Bank, SMBC, DNB and OP Financial Group. Marco Polo is currently in the pilot phase and is set to enter production in the fourth quarter. “NatWest specifically cited Marco Polo’s focus on standards and interoperability with other platforms as its reason for going with the consortium.”

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