Cross country partnership for blockchain pilot to facilitate international trade

In a move to facilitate trading between countries, one of the subsidiary of Abu Dhabi ports has entered into a partnership with the Belgium port of Antwerp. The Maqta Gateway that uses it’s very own blockchain platform Silsal will be trialing the Proof-of-concept. The trial will help companies handle documents between Abu Dhabi and Dubai and also streamline trading and supply chain by providing complete transparency. Read more about Cross country partnership for blockchain pilot to facilitate international trade

Hong Kong’s securities regulator brainstorming new cryptocurrency regulations

Hong Kong’s Securities and Futures Commission (SFC) is brainstorming various options to regulate crypto exchanges with utmost importance to tighten investor protection. Carlson Tong Ka-shing, SFC’s outgoing chairman also mentioned imposing outright ban on upcoming technology in the internet era will not be the right approach and will only make exchanges continue to operate in overseas markets. He added that SFC has been continuously monitoring the crypto operations and as the trading increases, it is imperative that proper regulations are stitched together. Read more about Hong Kong’s securities regulator brainstorming new cryptocurrency regulations

Russia to use oil backed cryptocurrency as an alternate to USD

The hefty trade sanctions levied by the US against Russia has forced the latter country to consider alternatives and there are talks that Russia is planning to consider oil backed cryptocurrency to replace USD. The country is planning to use the digital currency for trading oil with oil exporters. The government is calling out the global political instability and unpredictability a major reason why national currency will not be a reliable  option idea going forward. Read more about Russia to use oil backed cryptocurrency as an alternate to USD

ICO legalization, South Korea to decide in November

The South Korean government is looking to take a decision regarding legalization of ICOs in November as per the statement of Hong Nam-Ki, the chief of the Office for Government Policy Coordination during the Wednesday’s national assembly audit. Responding to a question on government stance,  Nam-ki responded adding that there are discussions happening and the government is planning to decide once the survey results of the study commenced by FSS are published. Read more about ICO legalization, South Korea to decide in November

Swensen, Yale’s Warren Buffet jumps to crypto investments

David Swensen, Chief Investment Officer of Yale University has taken his first step towards cryptocurrencies by investing in two venture funds. It is learned that Swensen’s team had invested in Andreessen Horowitz’s fund and in a crypto focussed fund Paradigm. Swensen’s investments come as a big boost for the industry that has been through a lot of hammering. While the top financiers in the industry are sceptical about cryptocurrency, Swensen’s move comes in as a much-needed confidence booster.

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Alibaba files Blockchain patent with U.S. Patent and Trademark Office (USPTO)

Alibaba, Chinese e-commerce giant has filed a patent with USPTO for an ‘administrative intervention’ system developed on the blockchain. This system allows third-party administrator intervention in case of illegal activities in a smart contract. A smart contract is a self-executing computer protocol that validates and verifies the performance of a contract digitally.

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