Week ending September 30, 2016
Three things to know
Widespread use of blockchain continues to move closer to reality. This week revealed more evidence of the benefits of blockchain and also the increasing support for blockchain.
Standard Chartered completed a cross-border, real-time payment via its blockchain network in “less than 10 seconds”. Standard Chartered has partnered with Ripple and used their enterprise blockchain solutions for the transaction. Standard Chartered stated that payments innovation is a “key area of focus” as the global bank endeavors to make the client experience more cohesive, with less risk, and more transparency.
With transaction speed moving from days to seconds, it’s easy to understand why some 200 banks interviewed by IBM plan to roll-out blockchain solutions sooner than had been expected. According to the survey, 15% of “top global banks” plan full-scale commercial deployment of blockchain in 2017. Within 3 years, 65% of the banks surveyed plan to have major blockchain projects in production.
One particular development that could accelerate the aggressive plans revealed in the IBM survey, Congress has formed a bipartisan Blockchain Caucus. The stated mission of the Caucus is the “advancement of sound public policy toward cryptocurrencies and other blockchain-based technologies”.
The positive momentum of blockchain continues. One potential catalyst which could potentially have a significant impact on adoption is guidance from the Federal Reserve. A favorable view or solution from the central bank could potentially crystallize usage parameters and spur widespread adoption.
Blockchain Just Made Some New Friends in Congress
Bipartisan Blockchain Caucus formed in Congress
Standard Chartered Completes Cross-Border Blockchain Payment in 10 Seconds
Banks adopting blockchain ‘dramatically faster’ than expected: IBM
Microsoft and BAML team up on blockchain-based trade finance project
R3, eight banks successfully test Intel blockchain platform for bond trading
BNP Paribas Announces Multiple Blockchain Pilots for Transaction Banking
Banks Will Start Actually Using Blockchain Next Year: IBM Report
Blockchain Will Be Used By 15% of Big Banks By 2017
Banks like to talk about blockchain, but none wants to be the first to actually use it
UBS to Build Blockchain-Based Trade Finance System
New Banking Partnership Puts Us One Step Closer to a Global Blockchain Payments Network
Blockchain drives Wanxiang’s $30B smart city project
Leading Spanish bank Santander announces its digital cash project on the Ethereum Blockchain.
Sberbank sets out its blockchain strategy
Blockchain Gets a Push in Shanghai: ‘A Shared Version of the Truth’
Six Global Banks Take Lead in Standardizing Global Payments on a Blockchain
ASX Sets Date for Decision on Blockchain Transition
Russia’s Biggest Bank Joins the Hyperledger Blockchain Project
In Washington, Momentum Grows for Blockchain Action
US Central Bank Chair: Blockchain Could Have ‘Significant’ Impact
Washington DC Launches First Blockchain Innovation Center
New Bipartisan Blockchain Caucus Will Promote the Use of Bitcoin and Blockchain Technology
Uses and Applications
Blockchain Entrepreneurs Launch Blockgeeks, Offering Expertise to Companies
Blockchain Talent Marketplace Blockgeeks Launched in Toronto
UnionPay and IBM Tap Blockchain to Solve Unspent Loyalty Points Problem
Jaxx Blockchain Wallet Now Supports LiteCoin and Ethereum Classic
Blockchain startup Synereo discloses distributed storage protocol
Solar Energy Producers to Get Blockchain-Based Currency Wallets in Space
Hyperledger Adds to Blockchain Group in Time for Sibos
Marine Transport International brings blockchain to shipping industry
Microsoft boosts blockchain efforts with Ethereum-based Project Bletchley
Blockchain Startups Want to Solve Cannabis’ Banking Problem
Markets CLS dips into blockchain to net new currencies
Juzhen Raises $23 Million to Bring Blockchain Post-Trade to China
ICONOMI ‘Uberizing’ Blockchain Platform Eclipses $6m in Fintech Crowdsale
ASX completes blockchain trading platform prototype
Public blockchain investments heat up: $5 million in 5 minutes
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