Week ending September 2, 2016

Three things to know

The key events in blockchain this week focused on financial services and blockchain governance. 

In financial services, the first global insurer to join the blockchain consortium R3 was announced.  MetLife became the 60th member of R3 and the first global insurer.  The potential uses for blockchain that MetLife will explore are quite broad and range from investment management to settlement distribution. 

Why does this matter?  A couple of reasons. First, it provides additional support to the hypothesis that blockchain will be relevant in multiple sectors of financial services. Next, the announcement is further proof that business processes not only can be transformed with blockchain, but they can be meaningfully improved upon through the application of blockchain.  That is a big difference and holds potentially serious implications. 

Next up in FSI, Visa announced they are collaborating with BTL Group to develop a blockchain interbank payment system focused on both domestic and cross-border payments.  The stated benefits include lower costs, faster settlement time, and reduced risk. 

In my view, this is a great step forward in blockchain adoption.  Keep in mind, however, that the project is in the proof of concept stage and will include only a small number of European banks. Importantly, this is a huge test for the use of smart contracts.  If successful, perhaps many of the issues of smart contracts, including legality and the benefits will move toward being resolved. 

Lastly, the blockchain intelligentsia gathered somewhere in the Canadian wilderness and didn’t leave until they agreed on ten items that will move forward blockchain.  I won’t list all ten points, but will highlight a few. The first point is that the time for global action is now. Why now, you ask. Why not now, they answer. The world needs blockchain and it shouldn’t have to wait any longer. 

The fourth point appeared to initially be a lunch menu, but it was then crossed out and replaced with launch a blockchain hub. The hub would catalog and organize the blockchain ecosystem, help with government regulation, and create a “network of networks” to “coalesce the community”. 

Lastly, the group agreed to continue being a group.  They will open it up to additional members, provided those members don’t require drastic changes to the lunch menu. The ongoing goals include building a “healthier and more robust blockchain ecosystem”.

Those were the highlights of blockchain this week.  Enjoy the long weekend.

For further reading on these topics:

R3 Blockchain Consortium Sees American Insurance Giant MetLife Join Ranks




Visa eyes new link in blockchain payments


Week of August 28, 2016

 Financial Services

Fintech Ecosystem Report: Blockchain, the Trump Card for Financial Evolution

Banking from Brexit to Blockchain

Bank of Tokyo-Mitsubishi and Hitachi Begin Blockchain Technology

New IBM Unit to Focus on Blockchain, Watson for Financial Services

Blockchain wants to be an ally for financial services

Blockchain Investments Equaled Half of All 2015 Fintech VC Funding

Home News Bryan Feinberg Interviews Danny Wettreich, CEO of GreenCoinX on Blockchain …

Antshares Blockchain Based Ledger Protocol for Financial Applications Launches Successful ICO

Plug and Play’s Biggest Blockchain Batch Plans Big Bank Collaborations


Code is Law? Not Quite Yet


Moscow to Use Blockchain Tech in ‘Active Citizen’ Project

Perth blockchain power trading startup takes Auckland
Canadian firms launch platform to secure IoT with blockchain

Uses and Applications
ACI’s Roger Oliphant: “Open Blockchain Standards Are Too Slow”

Web consortium starts work on blockchain standards

Blockchain Has Plenty of Uses for IoT, but What About Trust?

Building The Internet of Trust: Selecting The Right Permissioned Blockchain for Your Organization

IBM Bridges Blockchain, AI with New Business Unit

Problems during installation of Blockchain

Getting Blockchain Technology Enterprise-Ready

Blockchain and the promise of cooperative cloud storage

Hardware Oracles: bridging the Real World to the Blockchain

Kimberly Process pilots a blockchain for tracking the world’s diamonds

Diamond Trade Watchdog Looks at Blockchain Tech to Combat Fraud

deCLOUDs: Precious Metals-Backed Crypto-Platform on Blockchain

Chronicled links blockchain to reduce IoT fragmentation

Atlanta’s Blockchain Enthusiasts Take an In-Depth Look at Dash

Loyalty Programs, The Blockchain Way

Build the World’s First Blockchain-Powered Startup Marketplace

Hyperledger Project Grows 170 Percent in Six Months

Blocksafe to Employ Lisk Sidechain in Building Smart Gun Blockchain

KIBO: Creating the World’s First Blockchain Lottery

Block The Vote: Could Blockchain Technology Cyber-Secure Elections?

Blockchain platform Ujo Music opening up in early 2017

Steptoe’s Expanded Blockchain Practice Receives Broad Media Coverage

Blockchain and the Credit Union: The Asset Transfer Revolution

From Bitcoin to Agriculture: How Can Farmers Benefit from Blockchain?

Is Samsung Interested in Blockchain Technology?

4 Blockchain Companies Focusing On Secure Digital Identity Solutions

Blockchain remittance firm BTL working with Visa Europe Collab for smart contracts

Can Blockchain Prevent Cybercrime?

Thought Leadership

What Venture Capitalists Need to Know before Investing in Bitcoin

Money, minds drawn to distributed ledger tech

Blockchains: The Bits That Could Be Standardized

Sorry Blockchain, Any Joe Schmoe Shouldn’t Be Able to Start a Bank
Beware of Blockchain Hype Says Chain CEO

Blockchain’s Backers Embark on Campaign to Improve Its Image

How blockchain technology can transform our world

If I only had 5 minutes to explain blockchain

Blockchain: Just Hype or Proven Technology with Real Benefits?

The Race to Patent the Blockchain

Blockchain networks and continuous testing – What’s it all about?

Maybe Blockchain Really Does Have Magical Powers