Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat

KYIV, UKRAINE — Central bank digital currencies (CBDCs) have been a hot topic in blockchain circles recently, but central banks are lukewarm about blockchains.  Representatives of a number of the world’s central banks discussed their CBDC projects last week in Kyiv, Ukraine. The one-day conference was arranged by the National Bank of Ukraine, or NBU, which itself is a CBDC pioneer, having run its own digital currency pilot in 2018.  The central bank wanted to test its ideas and conclusions with the banking community and stimulate the discussion, the head…

On EOS Blockchain, Vote Buying Is Business as Usual

Buying votes is a big no-no in traditional democracies, but on the world’s eighth-largest blockchain it’s become an accepted way of doing business. A new service makes it easier for EOS block producers, the nodes elected by holders of the cryptocurrency to validate transactions on the network, to share their block rewards with those who voted for them. The service, known as Genpool, was introduced this month by GenerEOS, which itself is a block producer candidate.  Back when EOSIO, the software powering the $3.7 billion EOS chain, was just an…

JPEG on the Blockchain: Image Format Creator Believes Tech Can Fight Copyright Theft

The organization that created the popular JPEG picture format believes blockchain could be used to verify images as well as flag fakes and image theft. The Joint Photographic Experts Group (JPEG) said blockchain has “great potential” as the basis of a system that would use a combination of encryption, hash signatures and watermarking in an image’s metadata to protect copyright, Digital Trends reported Thursday. The system could have advantages over existing verification models, JPEG said at a recent meeting in Sydney, Australia. Instead of signing up for a particular program,…

DTCC Calls on Banks and Regulators to Help Address Blockchain Security Issues

The Depository Trust & Clearing Corporation (DTCC) wants the financial sector to form a consortium alongside regulators to reduce risks associated with blockchain. In a white paper published Wednesday, the New York-based post-trade financial services firm said participants in the financial sector should work to establish a set of “agreed-upon standards” that could address some of the security concerns surrounding the tech. “In light of the speed of digital transformation within the financial services sector, DTCC calls for a coordinated strategy for the development of a principles-based framework to identify…

ChainUP Launches EXUP, An Independent Brand of Blockchain Financial Derivatives

ChainUP has launched EXUP a new financial derivatives technology platform for digital assets to empower the blockchain financial ecosystem. 14th February, 2020, Singapore – On February 11, ChainUP, a leading global blockchain technology service provider, officially launched EXUP, an independent brand of blockchain financial derivatives, creating a new financial derivatives technology platform for digital assets. EXUP is committed to providing customers with secure, stable and efficient blockchain financial derivatives services. Its highly stable and reliable matching engine has been created to [em]power the financial ecosystem on blockchain, through a distributed…

IBM Blockchain VP: Every Dollar Spent on Blockchain Yields $15 on Cloud

Enterprise blockchain is a catalyst for further spending at Big Blue, according to Jerry Cuomo, IBM’s vice president of blockchain technologies. “It is driving additional spend,” Cuomo said. “When you look at the direct attribution of the actual dollars spent on blockchain, we are seeing that for every dollar spent, $15 is spent on other cloud services.” The back-of-the-envelope math offers a revealing glimpse into the storied tech company’s current thinking on blockchain. Cuomo’s revenue figure comes as IBM works to bring enterprise blockchain closer into the company’s sprawling cloud…

How Blockchain Will Track Taxes (and Tax Cheats)

Tomicah Tillemann is the chairman of the Global Blockchain Business Council and, at Davos this year, he was interested in taxes. He spoke to Michael Casey at his council’s event at the World Economic Forum. “We were really fortunate yesterday to announce a new collaboration with Ernst & Young and MIT. Together with New America, my organization, we’re going to be working together to tackle the very tough challenge of tax around the world,” he said. “Tax, obviously, is on its face about the most boring topic imaginable, but it…

No, a Blockchain Wouldn’t Have Prevented the Iowa Caucus Debacle

Adam B. Levine is CoinDesk’s podcast editor. The views expressed are his own.  We’d be the first to tell you: No, a blockchain wouldn’t have prevented the voting debacle in Iowa. The question is inevitable, if at this point cringe-inducing. Inevitable because the problems that delayed the results of Monday’s Democratic presidential caucus are, conceptually, some of the same ones that blockchains (and distributed ledger technology broadly) seek to solve: a lack of transparency, centralization and inefficiency. Cringe-inducing because blockchain’s record with political elections has been iffy at best. As…

Libre Not Libra – Thinking Critically About Facebook’s Blockchain Project

In “Libre Not Libra: Facebook’s Blockchain Project,” Andreas answers the burning question… Has he tried haggis? Just kidding… He shares his thoughts on the recently released Libra whitepaper, as part of a permissioned blockchain project spearheaded by Facebook. Years of jokes about “FaceCoin” and “ZuckBucks” have finally come to life – sort of. In a previous episode, he talked about how some venture capitalists are monkeying around by downplaying the killer applications of open blockchains  in favor of… bananas. Now he makes us wonder whether Libra will even survive to…

Cambodia Readies a Blockchain-Based Digital Currency

The National Bank of Cambodia (NBC) is readying a central bank digital currency (CBDC) to be launched at some point during the current fiscal quarter. Chea Serey, NBC’s director-general, told the Phnom Penh Post this week the central bank was developing “the national payment gateway for Cambodia” as a blockchain-based, peer-to-peer platform with its own specially designed cryptocurrency. She did not give a definite date on when the CBDC would be launched. Known as “Project Bakong” and first trialed by NBC in July 2019, the CBDC will work on a…