• Blockchain
    Technology

    Deloitte survey finds blockchain vital, overhyped

    Executives are seeing more business cases, but asking more questions

    While business executives around the world are growing more certain that blockchain will be a game changer, a new survey also reveals that skepticism remains. According to Deloitte, it’s 2019 Global Blockchain Survey finds the technology is entering a new phase, in which the question is no longer, “Will blockchain work?” but, “How can we make blockchain work for us?”

  • A useful map of Southeast Asia, in case one were to get lost (via Shutterstock).
    Asia & Australia

    Central banks across Southeast Asia are embracing blockchain

    Serving the unbanked and leapfrogging inefficient interbank and international settlement systems are a major focus

    Financial authorities across Southeast Asia are embracing blockchain technology and digital currencies as a way of helping the poor get better access to banking services that can help lift them out of poverty, as well as speeding and improving interbank payments and cross-border settlements.

  • world map
    Asia & Australia,  Europe,  Regulation

    As the US dithers on regulating cryptocurrencies, other regions move forward

    Support for blockchain technology is stronger both in the US and abroad

    Cryptocurrency and blockchain enthusiasts were excited about the ​announcement​ this week that President Donald Trump plans to name Office of Management and Budget Director Mick Mulvaney, a longtime supporter of cryptocurrencies and blockchain technology, as his interim White House chief of staff before the end of the year. As a congressman, Mulvaney was a co-founder of the ​Congressional Blockchain Caucus​. When it comes to actually embracing cryptocurrencies, the U.S. has been generally skeptical. As a recent opinion piece in the ​Harvard Business Review​ by law firm Jones Day blockchain initiative leaders Stephen J. Obie and Mark W. Rasmussen noted: ​“Without clear regulations, cryptocurrency innovation in the United States is being stifled.…

  • money laundering
    Technology,  United States

    Financial institutions fighting money laundering warm to blockchain technology

    Storing Know Your Customer data on a secure blockchain can simplify an expensive and frustrating legal process

    Enterprise blockchain software firm R3 recently completed a proof of concept test of its Know Your Customer (KYC) application built on its Corda blockchain platform, French financial institution RCI Bank and Services announced on Dec. 3. KYC requirements are part of the due diligence needed to meet Anti-Money Laundering (AML) regulations, an important but time- and money-consuming process used in the financial industry. Twenty-six firms participated in the test of CordaKYC, including insurer Allianz France and banks BNP Paribas and Societe Generale. In June, R3 announced that a group of 39 firms in 19 countries, including Deutsche Bank, ABN AMRO, and the Federal Reserve Bank of Boston completed KYC transactions…

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