A Japanese national cryptocurrency will allow its finance sector to “use data to create new value” not possible with traditional setups. This is according to comments from Mitsubishi UFJ Financial Group (MUFG) CEO Nobuyuki Hirano, who is also chairman of the Japanese Bankers Association. Speaking at a news conference Thursday, Hirano said the...
Professional services and consultancy giant Accenture has been appointed by Singapore’s central bank to develop a prototype blockchain solution for interbank payments. Earlier this month, the Monetary Authority of Singapore (MAS) – the country’s defacto central bank and financial regulator – revealed the successful development of three different blockchain models for decentralized...
Wall Street banking giant JPMorgan Chase is launching a new interbank payments platform powered by blockchain, the firm announced today. With the participation of two other banks – Australia-based ANZ and the Royal Bank of Canada (Australia) – the Interbank Information Network (IIN) will be built on Quorum, the ethereum-based blockchain network first...
Former Federal Reserve chairman Ben Bernanke is bullish on blockchain. Speaking at Ripple's Swell conference in Toronto today, being held the same week and in the same city as Sibos, the annual gathering hosted by Ripple's rival Swift, Bernanke told a room of several hundred attendees that he believes payments can be...
India has refused to comment on its progress with cryptocurrency regulation, only appearing to confirm that official plans were “in progress.” Reports by local news outlet Economic Times quote Reserve Bank of India Deputy Governor NS Vishwanathan as making comments to the press at an event in Calcutta today. “I can’t comment on...
Distributed ledger startup Ripple has signed up nine additional users for its global payments network product, RippleNet. Announced today, new members include Bexs Banco de Cambio, a processing service for international payments, and dLocal, the payment service behind Uber and GoDaddy. The other firms joining the network's now 100-plus members include Credit...
Wall Street continues to have a tenuous relationship with Blockchain technology. Large banks have recently made statements both for and against the new technology, with some companies like Bank of America already pursuing patents. Problem with privacy Part of the struggle these financial platforms are having with Blockchain technology is the issue of privacy. The...
"We are in the process of developing a new operating system for the planet." The remark, issued by Barclays' vice chairman of corporate banking, Jeremy Wilson, perhaps summed up the scope and tenor of discussion at the Blockchain for Finance conference yesterday. Held in Dublin, the event played host to participants more at home...
European Central Bank (ECB) president Mario Draghi stated that the agency does not have the authority to regulate bitcoin and other cryptocurrencies. ECB Does Not Have Authority to Regulate Bitcoin Draghi made these comments in a meeting of the European Parliament’s Committee on Economic and Monetary Affairs. Although Draghi’s formal statement did not...
Sweden is fast-moving to follow through on its plans to become the world's first cashless society. While this is seen as a good sign for digital currencies on a new progressive frontier, it brings issues, such as privacy concerns, when every transaction is surveyed. Nevertheless, the country is still rooting for Bitcoin as the...