Japan Data Initiative Brings Blockchain Security to 100 Major Businesses

A data-sharing initiative involving one hundred of Japan’s biggest companies will use blockchain for its security, English-language news outlet Nikkei Asian Review reported on June 17. The project, which will commence in spring 2020, aims for participants to share production data in order to enhance overall efficiency. Its controller is the Industrial Value Chain Initiative, an industry organization formed four years ago by manufacturers interested in the Internet of Things (IoT). Among prospective participants are DMG Mori, Mitsubishi Electric and Yaskawa Electric. “Blockchain […] is expected to lower the risk…

UK Financial Watchdog Blacklists Clones of Two Major Financial Firms

The British Financial Conduct Authority (FCA) has warned investors of a fraudulent company posing as the Swiss Investment Corporation, an FCA-authorized firm offering crypto investments, and another company that is a clone of Goldman Sachs, the regulator announced on June 14. The financial regulator has blacklisted a firm operating under the domain swissinvest.biz. According to the announcement, the fraudulent clone firm offers services on its website swiss-investissement.com and is involved in scam activity. On the website, the alleged clone firm divides its proposed investments into the safest —  assets such…

Few Women Are Contributing Code to Major Crypto Projects, Report Finds

Using data collected from from Github, a study found the top 100 blockchain projects in the cryptocurrency ecosystem showed deep lack of gender diversification, with women committing only about five percent of code. The study, conducted by journalist Corin Faife, reportedly checked over 1 million code commits in GitHub to identify participation of open-source contributors that could be identified as women. The investigation showed a total of 4.64% of female names in the main branches for each of these projects, a percentage that isn’t unusual in the cryptocurrency world. Minding the…

Major Hong Kong Property Firm to Seek Regulatory Approval for Tokenized Real Estate

Family-owned property firm Stan Group — which represents the assets of “shop king” real estate scion Tang Shing-bor — is set to meet with Hong Kong’s securities watchdog in January 2020 to seek approval for the sale of tokenized real estate assets. Hong Kong English-language newspaper South China Morning Post (SCMP) reported the news on June 12. Stan Group is reported to have a real estate portfolio estimated at over HK$50 billion ($6.38 billion). Against the backdrop of reportedly lacklustre sentiment in the local property market amid escalating trade tensions…

CEO of Major American VC Firm Digital Currency Group: Crypto Winter Is Ending

The crypto winter is likely to be ending, a senior executive at major American blockchain venture capital firm Digital Currency Group (DCG) said in an interview with Bloomberg Technology on June 11. Barry Silbert, DGG founder and CEO, outlined the cyclical nature of the ups and downs of major cryptocurrency bitcoin (BTC), which allegedly means that the recent surge of crypto prices would only continue. Silbert, who is known as a serial crypto investor, specifically pointed out that bitcoin’s price dynamics have been “quite a roller coaster,” with its price…

Major Pan-African Insurance Firm Rolls Back Insurance for Crypto Mining Equipment

Pan-African insurance company Old Mutual has opted out of insuring cryptocurrency mining equipment due to the absence of regulation in the industry, local technology-focused new outlet ITWeb reported on June 10. Following comprehensive research of the industry, Old Mutual has arrived at a decision not to insure equipment used for digital currency mining because of the unregulated nature of the industry. Among other reasons, the company also named cryptocurrencies’ exposure to fraudulent activity and modified electronic infrastructure of mining equipment that leads to overheating and other malfunctions. Christelle Colman, an…

Major Crypto Media Site CCN Shuts Down, Cites Google Update for Loss of Search Visibility

This article has been updated to correct that Cointelegraph’s traffic was not affected by the Google Core Update as previously written. Top cryptocurrency media site CCN is shutting down today, June 10th, according to an announcement on their website. The post, written by Jonas Borchgrevink, director and founder of CCN Markets and Hawkfish AS, states that the reason behind the closure is a large drop off in traffic from Google searches following a June 3 Google Core Update. Borchgrevink writes that the crypto news site’s traffic fell over 71% on…

Major Korean Bank Signs MoU With Atomrigs Lab to Explore Crypto Asset Management

This article has been updated to correct the name of Atomrigs Lab. Major South Korean commercial lender KB Kookmin Bank has signed a Memorandum of Understanding with blockchain technology firm Atomrigs Lab to jointly explore digital asset management and protection solutions. The news was released at a press conference at the bank’s office in Seoul on June 11. The MoU — signed yesterday, June 10, in Seoul — establishes that the two partners will focus on digital asset market growth and new crypto-related businesses, according to Korean news outlet Yonhap…

Major Insurance Broker Aon Secures Crime Coverage for Crypto Custody Solutions Firm

Aon — a leading insurance broker that purports to occupy 50% of the crypto-insurance market — will reportedly provide crypto custody solutions provider Metaco with crime insurance coverage via a panel of London insurers. The news was revealed in a Metaco press release published by fintech news outlet Finextra on June 11. Lausanne-based Metaco is part-owned by Swiss telecoms giant Swisscom, the country’s national postal service, Swisspost and banking technology vendor Avaloq. The insurers — none of whose names have been disclosed — will reportedly provide the crime insurance coverage…

Major Consultancy Firm McKinsey Says Retail Banking Sector Slow to Adopt Blockchain

“Big Three” management consultancy firm McKinsey & Company has argued that blockchain technology is gaining slower traction with retail banks due to regulatory hurdles and a conservative consumer environment. The news was reported by Bloomberg on June 7. McKinsey reportedly characterized retail banks as nervous and cautious when it comes to blockchain, as distinct from their ostensibly more adventurous investment banking counterparts. Factors contributing to this difference include, McKinsey argues, a more stringent regulatory environment for consumer finance and the controversial reputation of blockchain-based decentralized cryptocurrencies such as bitcoin (BTC).…