Aussie ICOs Beware – The ASIC Has A Reputation to Rebuild

Twitter Facebook LinkedIn In a bit of news that is tinged with irony, the Australian Securities and Investments Commission (ASIC) has been denied in court its record $35 million AUD fine against Westpac Bank. Irony because the reason the court rejected the fine, in addition to the Commission’s failure to prove that Westpac was guilty …

Abu Dhabi Bourse Issues Thought Paper as It Eyes Crypto Transition

Twitter Facebook LinkedIn Abi Dhabi Securities Exchange (ADX) on Tuesday issued a paper on crypto and distributed ledger infrastructure, Emirates News Agency reported. The “thought paper,” according to the $135 billion Bourse, identifies the technical and operational standards required to issue crypto-assets. It specifically assists financial institutions that are undergoing a transition from conventional asset …

Dismissing Crypto is Like Dismissing Internet in 1993

Benedict Evans, a general partner at Andreessen Horowitz (A16Z), one of the most successful venture capital firms in the world, has said that crypto is quite similar to the internet in 1993. As with any other emerging technology or market, the cryptocurrency space has seen a large number of failed projects and scams over the …

US Blockchain Engineers Earning as Much as AI Specialists

The fast-growing blockchain technology sector has created a high demand for talent and this has consequently resulted in blockchain engineers being among the best-remunerated in the tech sector. According to CNBC, the average pay for blockchain engineers in the United States is between US$150,000 and US$175,000 making it comparable to what developers who specialize in …

Visa Integrates Open Source Hyperledger Tech for B2B Blockchain Payments

Visa is integrating open-source blockchain code from the Hyperledger Fabric ahead of the commercial launch of its own blockchain service for enterprise payments in Q1 2019. Visa B2B Connect, the payment giant’s enterprise blockchain platform that enables cross-border payments between businesses, is partnering IBM to integrate the latter’s development of the open-source Hyperledger Fabric framework. …

Blockchain Might Make Voting Worse — Not Better: Crypto Researchers

Three researchers with the Initiative for CryptoCurrencies and Contracts (IC3) are questioning whether, as some proponents claim, blockchain technology will be able to change the internet voting sector for the better. In an article published by Business Insider, the scholars argue that while blockchain technology might serve to revolutionize other industries, internet voting might be a …

UK Telecom Regulator Receives £700,000 Blockchain Grant for Managing Phone Numbers

UK national telecoms regulator Ofcom has received £700,000 ($912,000) to explore blockchain solutions in UK landline telephone management. The grant was issued by the Department of Business, Energy, and Industrial Strategy. An Ofcom announcement states that between now and April 2020, industry participants will be invited “to trial the porting and management of millions of …

Bank of America Thinks Blockchain Could be a $7 Billion Market

Bank of America research analysts have predicted that blockchain technology could represent a multi-billion dollar industry down the road, and be of particular benefit for leading companies like Amazon and Microsoft. BoA: Many Can Benefit From Blockchain The analysts predicted the total addressable blockchain market would eventually hit $7 billion, but there was not a particular …

Google-Backed Fintech Startup Uses Bitcoin for Cross-Border Settlement

Veem, a cross-border payments platform that uses bitcoin to move funds among businesses without the need of banks, has raised $25 million in a round led by Goldman Sachs, according to Forbes. The service, which does not require either counterparty to hold bitcoin directly, has quadrupled its revenue in the past year. Also participating in the …