Week Ending August 26, 2016
Each week brings a voluminous amount of news on blockchain and sorting through it can be daunting. That is why we at Red Chalk Group are making it easy for you. Now each week we will be bringing you the three things you need to know about blockchain this week.
After scouring the blockchain world, three developments have been identified. Up first, the Corda white paper was released. Corda is blockchain platform designed specifically for smart contracts in financial services. The group R3CEV filed a patent application for Corda, which is interesting in itself. Among the differences between Corda and a standard blockchain is that the standard blockchain reaches consensus on a transaction as a whole. Corda enables consensus to be reached on the individual steps of a process. It will be interesting to see how this plays out. Consider that the generally accepted blockchain protocols (GABPTM) are still being developed. Hyperledger likely has an interesting view on this topic.
Also this week, a group comprised of UBS, Deutsche Bank, Santander, and BNY Mellon announced plans to launch a proprietary digital currency. They join Goldman Sachs, which has filed a patent for “SETLcoin”, Citigroup, and JP Morgan, which are also working on proprietary digital currencies. Why are these major banks making this effort? Because using digitized currency facilitates trading of securities – or anything really – over blockchain. The potential annual savings in trading costs is near $100.0 billion.
The World Economic Forum released a report that considers the impact of blockchain on financial services. The report is based on research done over the course of prior year, with interviews done with stake holders and experts from around the globe. The report delivered six key insights and nine potential use cases. The key findings were balanced and sober. The report provides excellent insights into the benefits and challenges of distributed ledgers.
http://www.ft.com/cms/s/0/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c.html#axzz4INBqVE7q
Financial Services
Why Big Bank Blockchain Leads Are Leaving for Startups
Major stock exchange completes blockchain trial for replacement settlement system
Wall Street Gets One Step Closer to Embracing Blockchain
FINTECH: A blockchain reaction in the financial sector
Big banks push forward with blockchain
Exchanges call for regulatory clarity over blockchain use
What can “blockchain” do for the wholesale insurance market?
Exchanges call for regulatory clarity over blockchain use
UBS leads team of banks working on blockchain settlement system
BNY Mellon, Deutsche Bank and others join UBS for blockchain initiative
Don Tapscott: How the blockchain is changing money and business
Blockchain 101 With Andreas Antonopoulos: How Bitcoin Makes Each of Us as Powerful as A Bank
Blockchain Is Banks’ Secret Sauce
Hype Cycle Peaks as ACI States Blockchain Can’t Handle Financial Transactions at Scale
Government
UK Financial Regulator Considers Approving Blockchain Startups
Moscow Government to Explore Blockchain Voting
Australia Post Plan for Blockchain Voting by 2017
Global
WEF Report: Blockchain to challenge status quo
German Blockchain Startup BlockPay ‘Bootstrapped’ With Crypto ICO Investment
Rakuten Confirms Bitnet Acquisition, Announces Blockchain Lab in Belfast
Sberbank Considers Russian Blockchain Consortium
FCA considers approving blockchain businesses
Leading engineer from IBM will tell about blockchain-based technologies aimed for business in Kiev
Nordea looking for AI and blockchain breakthroughs
Blockchain Real Use Case: Land Inventory in Africa and Beyond
UAE considers blockchain technology to prevent ‘conflict diamonds’ from entering global trade
Hitachi and BTMU begin PoC testing using blockchain to digitize checks in Singapore
Strategic Alliance Formed to Speed Up Adoption of Blockchain Technology in China
Japanese Banks, E-Commerce Giant Ramp Up Blockchain Development
Japanese Firms Hit by Shortage of Blockchain Experts
Japanese Firms Test Blockchain for E-Check Management
Australia Post details plan to use blockchain for voting
Blockchain and bitcoin: Global development game changers?
Uses and Applications
R3 Files Blockchain Patent for Financial Agreements
IBM Launches Cloud Services for Blockchain Deployments
Google & Apple Prefer Ripple Blockchain Tech over Visa
Samsung mulls blockchain adoption
Verizon is making a foray into the ‘game changer’ technology Wall Street is pumped about
Verizon Files for Passcode Blockchain Patent
Blockchain Foundry for e-commerce launched
The Blockchain as an Economic Engine for The Cybersecurity Industry
How Blockchain Technology Could Decentralize the Energy Grid
Blockchain in healthcare getting a lot of attention
Using Blockchain to Address Drone Cybersecurity
TAO Network Partners with Boogie Shack Music Group to Offer Blockchain Solution
Egyptian Cotton, Meet Blockchain
Blockchain for Land Administration
Blocksafe Announces ICO Sponsored by Blockchain Foundation
Chronicled Launches Open Registry for Consumer IoT on Ethereum Blockchain
Blockchain: It’s not just for finance anymore
Thought Leadership
Chain Joins Industry-Academia Blockchain Initiative to Solve Interoperability and Scalability Issues
Blockchain as ‘Technological Genie’
Bitcoin distracts from the real value of blockchain
Don Tapscott Believes Blockchain Can Disrupt Any Industry
Blockchain Book Author Appears in New TED Talk
Building Blocks to Blockchains
Blockchain deploy issue on BlueMix
Ripple Labs CTO Warns of Blockchain Dystopia
Gartner Hype Cycle for Emerging Technologies, 2016 Adds Blockchain & Machine Learning