28/03/2018: Biggest Stories in the Cryptosphere

1. Central Banks Say Blockchain Could Revamp Securities Settlements

The European Central Bank and the Bank of Japan have jointly published a report on how blockchain technology could revamp securities settlements, by introducing elements such as a ‘cross-chain atomic swaps’ between unconnected ledgers. The findings are based on DLT research called Project Stella, which was launched back in December 2016. The document examines the delivery versus payment (DvP) securities settlement method. This is a method where a transaction can take place only if another one took place before. Three different prototypes were created: Corda, Elements, and Hyperledger Fabric. Three different platforms were used. The cross-ledger DvP systems still require further work.

2. Kazakhstan’s Central Bank Launches Blockchain-based Securities Trading App

The National Bank of Kazakhstan, the country’s central bank, has launched a blockchain-based securities trading app accessible by phone, called ‘Invest Online’. The goal was to increase the access of its citizens to capital markets trading by simplifying the process itself. Out of the 18 million population, only 109,000 are involved in the country’s stock and bonds markets. The country desires to change that. At the moment it is only possible to acquire the central bank’s own one-year discount notes. However, going forward it will be possible to buy stakes from some of the biggest state-controlled local companies.

3. Chilean Association of Banks (ABIF) Is Being Asked For Clear Crypto Regulations

The Chilean Association of Banks (ABIF) is being asked for a clear stance on cryptocurrencies and crypto trading. Behind the demand are crypto exchanges BUDA and Crypto MKT, which operate in Chile as well as other countries in Latin America. Their corporate’s accounts have been recently closed by multiple banks in the country, prompting them to ask for change. The news was reported by a local newspaper. The two exchanges stated that this could be a great opportunity for Chile to take advantage of these emerging new technologies. However, ABIF claims not to be in the position to set crypto regulations and instead, it is up to each bank to decide what approach to adopt.

4. Associations From Europe and Asia Are Teaming Up to Sue For Crypto Ads Ban

Cryptocurrency and blockchain associations located in Russia, China and South Korea are teaming up to sue various social media platforms for banning ads. The joint lawsuit filing was reported yesterday, March 27, but is planned for May, according to a Russian news outlet. The three associations involved are the Russian Association of Cryptocurrency and Blockchain (RACIB), the Chinese association of crypto investors LCBT and the Korea Venture Business Associations. The group is open to external donations. Facebook was the first one to announce a ban, at the end of January of the current year. Two months later, it was followed by Google and Twitter, along with Yandex.

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