Digital Currency and Blockchain Weekly Round-Up – February 7th, 2020
U.S. Federal Reserve exploring DLTs and a potential CBDC, confirms Governor
Federal Reserve Governor Lael Brainard has revealed that the central bank is conducting research on distributed ledger technology (DLT) and its potential for a central bank digital currency (CBDC). “Given the dollar’s important role, it is essential that we remain on the frontier of research and policy development regarding CBDC. Like other central banks, we are conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC.”
U.S. Navy and Air Force seek to secure communications using blockchain technology
The U.S. Navy and the Air Force are looking to blockchain technology for securing communications. SIMBA Chain has been awarded $9.5 million by the Naval Air Warfare Center to deploy a secure, blockchain-based messaging and transaction platform. Fluree has won a contract from the US Air Force to bring commercial best-in-class technologies to the Air Force and the Department of Defense.
Newly formed central bank digital currency research group to hold first meeting in April: Report
The recently formed consortium of six central banks and the Bank for International Settlements (BIS) is going to hold its first meeting in mid-April, Nikkei reported. The Bank of Canada (BoC), the Bank of England (BoE), the Bank of Japan (BoJ), the European Central Bank (ECB), the Sveriges Riksbank, and the Swiss National Bank (SNB) teamed up with the BIS last month to look into potential cases for central bank digital currency (CBDC).
Australia releases National Blockchain Roadmap
Australia’s Department of Industry, Science, Energy and Resources has released the National Blockchain Roadmap, setting out a strategy for governments, industry, and researchers to capitalise on opportunities and address challenges presented by the technology. The development of the roadmap was announced last March by Karen Andrews, Minister for Industry, Science And Technology, and the Minister for Trade, Tourism and Investment, Senator Simon Birmingham.
Germany’s financial regulator issues guidance on licensing process for crypto custody firms
Germany’s Financial Supervisory Authority (or BaFin) has released new guidelines to clarify how the country’s new law, which came into force last month, will apply to firms offering or intending to offer crypto custody services to German customers. The law implementing an amendment to the Fourth EU Money Laundering Directive came into effect on January 1, 2020. With this, Germany has classified crypto depository services as a financial service under the German Banking Act.
UAE’s Ministry of Health and Prevention launches blockchain-based data storage platform
The Ministry of Health and Prevention (MoHAP) of the UAE has launched a blockchain-based platform that stores the data for health, pharmaceutical government and private facilities, health practitioners and drug information, Emirates News Agency reported. The platform has been launched in collaboration with the Ministry of Presidential Affairs, Dubai Healthcare City and health authorities.
- U.S. Treasury includes digital assets among top vulnerabilities to financial system
Other Company News
- Crypto exchange Indodax receives license from Indonesia’s regulatory authority BAPPEBTI
- Singapore-based iSTOX becomes fully regulated DLT-based capital markets platform
- Hong Kong-based blockchain remittance startup Bitspark shuts down due to failed internal restructuring
- South Korean crypto wallet Bitberry shuts down due to “uncertainty of the blockchain industry”
- Blockchain startup Waves launches a non-profit organization in Germany
- Blockchain startup ConsenSys lays off 14% of its workforce
Digital Currency Initiatives
- Goldman Sachs-backed Axoni launches DLT network for equity swap processing
- Neogen partners with Ripe.io to bring blockchain technology to food safety and animal genomics
- Hedera Hashgraph partners with Armanino to leverage blockchain-based assurance technology platform TrustExplorer
- Gini launches blockchain lottery game; signs MOU with Giving Ledger
- Intermex partners with blockchain startup Ripple faster cross-border payments between Mexico and U.S.
- Japan’s JASRAC to trial blockchain technology for music copyright management
- Indian IT firm launches accelerator program for Telangana’s ‘Blockchain District’
- Walmart Canada launches blockchain-based freight and payment network
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