Philippine rural banks partner with UnionBank for blockchain

Four rural banks have partnered with UnionBank for a blockchain technology-reliant payment system. Officials of the publicly-listed universal bank vow to help the smaller banks become more efficient. In a briefing, UnionBank Senior Executive Vice President and chief Technology and Operations officer Henry Rhoel Aguda said they are helping the rural banks, which he declined…

Swiss regulator FINMA publishes ICO guidelines

In guidelines published last week, the Swiss Financial Market Supervisory Authority – FINMA – set out ICO guidelines. These describe how it intends to apply financial market legislation in handling enquiries from ICO (initial coin offerings) organisers. The guidelines also define the information FINMA requires to deal with such enquiries and the principles upon which…

Computershare, Citi and Credit Agricole invest in SETL blockchain

SETL, the London based institutional payment and settlement infrastructure provider which uses blockchain technology, has announced two banks – Citi and Credit Agricole – have invested. Citi and Credit Agricole, join Computershare, S2iEM and Deloitte as shareholders in the company. Additionally, Computershare has increased its investment with Stuart Irving, Group CEO of Computershare, joining the…

British Blockchain Association launches new journal – the JBBA

The British Blockchain Association (BBA) has launched what it calls Europe’s first Journal devoted to blockchain and distributed ledger technologies (DLT). It is entitled somewhat unimaginatively the JBBA, or the Journal of The British Blockchain Association. The journal is available online. An inaugural print version will become available this Summer. Dr Naseem Naqvi, JBBA’s editor…

SARB assesses cryptocurrencies and blockchain

The South African Reserve Bank (SARB) regards itself as having a responsibility to promote a sound and effectively regulated financial system. The SARB, therefore, has decided to try to take a balanced approach to technological innovations. This involves considering the potential benefits and risks of each innovation. Against this background the SARB recently established its…

Linux Foundation launches OFTF event to include blockchain

The Linux Foundation, the nonprofit focused on open source innovation, has announced a new event with a cumbersome name: “Open FinTech Forum: AI, Blockchain, Kubernetes & Quantum on Wall Street” (aka OFTF). It will take place on October 10-11, 2018 in New York City. “We’ve created this event in part because we’re seeing strong interest…

Non-financial disintermediation and blockchain

Non-financial disintermediation using blockchain or distributed ledger technologies may be imminent. Take the car industry as an example, along with one would-be player, PowerBand. Little by little new technologies are coming to the US$2 trillion automotive industry in a big way – and that may include car selling and blockchain. In 2017, 94.5 million cars…

Ramco Systems+XinFin target blockchain for aviation, logistics and HR

Ramco Systems+XinFin are joining forces in Singapore with a focus on the aviation, logistics and human resources industries. Their objective is to build “breakthrough hybrid blockchain solutions” which: combine features of public and private networks provide secure and rapid transactions for the .   Virender Aggarwal, CEO, Ramco Systems, said, “At our innovation lab in…

The ESAs (ESMA, EBA + EIOPA) warn consumers about cryptocurrencies

The European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) (the ‘ESAs’) are together warning consumers on the high risks of buying and/or holding cryptocurrencies – what the ESAs call Virtual Currencies (VCs). This continues from an earlier ESMA warning about ICOs. In their view…

Pareteum awarded cloud security patent

Pareteum Corporation, a cloud communications platform company, has announced it has a cloud security patent. Its European operating subsidiary has a UK patent for a solution enabling secure, strong-authentication which provides secure access and additional identity validation on Pareteum’s Global Cloud Platform and other online services. The technology uses pre-shared secret key authentication between mobile…