Mar 21, 2017 at 11:50

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Japanese Blockchain Consortium to focus on financial services

Japanese companies expand support for FinTech industry. BCCC, Blockchain Collaborative Consortium, has announced on the formation of the Financial Services Subcommittee. While supporting the provision of technology and information that match the needs of financial institutions, the Financial Services Subcommittee will operate as a forum for considering and spreading the application of blockchain technology to financial services operations.

Private blockchain cannot exist in isolation

Blockchain сonsortia lead back to bitcoin. Jon Matonis, founding director of Bitcoin Foundation, speaking at a Blockchain & Bitcoin conference in Tallinn, recalled that the blockchain should be an open system communicating with the outside world. During his report Jon Matonis noted: «Open blockchain will always have an advantage over private ones primarily because of their attractiveness to developers. Their very nature means more opportunities for innovation».



Arizona Senate rejected the bill about tracking guns with blockchain

Gun tracking on blockchain is being dismissed by american authorities. Earlier last month, House Bill 2216 was introduced to the Arizona Senate with the aim of prohibiting any system that "uses a shared ledger, distributed ledger or blockchain technology or similar form of technology or electronic database" from being used to keep track of firearms.While the failed bill itself does not stipulate how a particular gun might be overseen remotely, the idea is that hardware sensors could be used to catalog whenever it is fired or loaded.



Samsung SDS Signed a contract with Blocko

Two large companies announced cooperation. Samsung SDS has signed a contract with the Korean FinTech start-up. A subsidiary of Samsung, specializing in the development of solutions in the field of information technology, has signed a memorandum of understanding with FinTech start-aps Blocko. Both companies are members of Hyperledger an open source blockchain platform. Cooperation will be aimed at exploring new markets for the diffusion of technology. Currently, companies are working on a service for Samsung Card.



China tightens control over bitcoin-exchanges

Chinese bitcoin-exchanges are at risk of a black list. The Chinese FinTech Twitter account cnLedger published a message that it found a violation by bitcoin-exchanges related to the anti-money laundering policy. Zhu Xudong, the head of business department in the People's Bank of China's, stated about necessity to introduce a "black list" for violative bitcoin-exchanges. It is also possible to introduce more stringent measures, such as tightening control and setting strict boundaries, conducting audits and the necessity to obtain licenses. Concern the closure of exchanges or the prohibition to trade with bitcoin, are not mentioned.



China tests national cryptocurrency

China is developing a national cryptocurrency. The People's Bank of China in cooperation with private and public organizations, develops the national cryptocurrency ChinaCoin. The main difference from other cryptocurrencies is a full control by the government of the country. The currency was created to improve the relationship in the FinTech industry, control the flow of funds between banks and the hindrance of illegal transactions. China is not the only country that intends to develop own digital currency, such intentions were reported by the Bank of England and the Bank of Canada.



Deutsche Bundesbank president: Blockchain could make markets faster



Bundesbank president praises blockchain. Jens Weidmann, head of the Deutsche Bundesbank, spoke during an appearance at a recent G20 summit in Berlin. There, he highlighted the tech's potential to make financial markets and services faster, cheaper and more convenient, while also noting the shifts brought by tech advances in crowdfunding and advisory services.



Nasdaq to release blockchain-based advertising exchange

Nasdaq is to release blockchain exchange by the end of a year. A group of ad tech veterans is working with the largest stock exchange to launch the New York Interactive Advertising Exchange, a technology platform designed to bring Wall Street sensibilities to the buying and selling of advertising inventory. Notably, it is the first exchange deployed in the cloud which also runs Blockchain technology. According to Lou Severine, CEO of the New York Interactive Advertising Exchange, company is starting with digital ad inventory, but has already had conversations with several large TV conglomerates about testing the product.



Canada: fraud with bitcoin

Canadian police invokes bitcoin holders to be aware of scammers. Regional police in Canada have issued a warning about fraudulent investment schemes with bitcoin. The Durham Regional Police Service said in statement that local residents have reportedly been claimed about money-making pitches involving the digital currency. The statement said: "Residents have reported being contacted by fraudsters after applying for jobs or responding to ads online involving a promise to make money." Then fraudsters send cheques to victims and demanded the money to purchase bitcoins.

