Week Ending September 16, 2016

Red Chalk Group banking, blockchain, capital markets, financial services, fintech, insurance

Three things to know

This week the U.S government endorsed blockchain, iOS 10 enabled P2P payments via a blockchain network, and Goldman Sachs is attempting to patent its FX trading processes.

In House Resolution 835, it was stated that “blockchain technology…has the potential to fundamentally change the manner in which trust and security are established in online transactions…”. That is a great endorsement. Remember, regulators met in July to discuss the rules that should apply to blockchain and their report is due to be published in October. Hopefully, they are on the same page as the House.

Moving north from D.C. to New York, Goldman Sachs believes their blockchain trading system for FX trading is unique enough to warrant a patent. According to the article, the uniqueness of Goldman’s systems and methods reduce delays, maintain privacy, and lower costs relative to the current FX processes.

Heading west to Silicon Valley is worth it for what I feel is a very significant development. The iMessage system of Apple iOS 10 has integrated with Circle, the blockchain P2P payments firm. Users of the application will be able to make safe, secure payments to friends (anyone really) as easily as sending a text message.

These developments are positive for blockchain and demonstrate the acceptance and traction the technology is finding. It really just leaves one question: has Apple been talking with the House of Representatives?

US Government Sees the Benefits of Blockchain

Goldman Sachs Files Patent for FX Trading on a Blockchain

Circle Brings Blockchain Payments to iPhone with iOS 10 Update

Weekly Blockchain

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Circle Brings Blockchain Payments to iPhone with iOS 10 Update

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