The People’s Bank of China (PBoC) announces a spike in blockchain usage by Chinese banks. Over $12.4 billion USD transacted on the central bank’s blockchain network. In late September 2018, the central bank of China, PBoC, announced the launch of their blockchain project to improve the payment transactions across banks and financial institutions. Well, according
China has been well known for its wayward stance towards cryptos. While there were rumors that China will adopt crypto when China passed the cryptographic law, however, the reality is far from true. On the other hand, China’s blockchain initiatives suggest that it is bringing banking-grade security to blockchain and earnestly working on regulating blockchain.
Singapore’s Central Bank, the Monetary Authority of Singapore (MAS) has partnered with investment banking giant JP Morgan and developed a blockchain prototype for cross-border payments. Payment Settlements Using Different Currencies On Single Network The prototype will enable payment settlements using different currencies on the same network. For the same, Temasek, an investment firm owned by
In a recent development, U.S. Customs and Border Protection, a federal agency of the Department of Homeland Security will now be tracking oil and natural gas imports from Canada with blockchain technology. Funds Worth $182,700 Have Been Allocated For the same, the department’s research and development unit, the Science and Technology Directorate has allocated funds worth
Tech Giant LG is getting prepared to launch its own-blockchain-powered smartphone as per reports. LG to Launch Blockchain-powered Smartphone Per reports from a leading media outlet, Chosun, LG is all set to launch its own blockchain-powered smartphone in response to Samsung’s recently launched Klatyn phone. The news has been officially confirmed by Kakao’s Ground X
The United States Committee on Banking, Housing, and Urban Affairs have released a public notice on their forthcoming full committee hearing on issues relating to blockchain and cryptocurrencies. The event is slated to take place on Tuesday 30th July 2019 at 10 am prompt. The hearing will take place via a live webcast from their
Chainalysis, a blockchain crime-fighting firm has expanded its blockchain watchdog operations to educating banks, governments, and other financial institutions in the understanding of core blockchain security measures and safety precautions. The New York-based blockchain firm was set up to detect cybercrimes on the blockchain and has been doing that for about three years. As one
A blockchain bill that recognizes use of blockchain and smart contracts as legal is being introduced and pushed by the lawmaker and the millennial leader of California, Ian Calderon. Similar bills have been passed in other states of US viz. Florida, Wyoming and Arizona etc. California’s lawmaker pushes bill to recognize blockchain data A blockchain