India’s seven banks which include YES Bank, ICICI, Union Bank of India, Federal Bank of India and Canara Bank have joined the Interbank Information Network (IIN), a blockchain network created by leading multinational investment bank JP Morgan. Based on Quorum, a permissioned-variant of the Ethereum blockchain developed by JP Morgan, IIN allows member banks to…
Tag: ethereum
Ethereum Expands Blockchain Capacity by 25%
Ethereum’s network capacity has been expanded by the mining community to allow more transactions to be processed on the network per second. This is in light of increased traffic on the network, largely due to controversial stablecoin Tether and a gambling game called Fair Win. Ethereum co-founder Vitalik Buterin relayed last week that block producers…
World Bank Sells $33.8 Million More of Its Private Ethereum Blockchain Bonds
The World Bank has issued a second round of its landmark blockchain bonds. The international financial institution raised another $50 million AUD ($33.8 million U.S.) by selling the “blockchain-operated debt instrument” (bond-i), according to Commonwealth Bank of Australia (CommBank), which managed the sale jointly with RBC Capital Markets and TD Securities. Both new and existing…
Thailand Is Opening Up to Crypto – Bitcoin, XRP, Ethereum and Stellar Lumens
Since July, Thailand and its Securities and Exchange Commission (SEC) have voiced their intent to legalize the local initial coin offering (ICO) market and open it to startups. On Dec. 1, 2018, however, Cointelegraph reported that the Thai SEC declared Thai-related security token offerings (STOs) in international markets to be illegal and said that it…
Dragonchain Awarded Patent for Blockchain Powered Loyalty System
Dragonchain, an enterprise blockchain-as-a-service provider originally developed out of a Disney technology incubator, was awarded a patent for a loyalty system that tracks and monetizes time on the blockchain, according to documents published by the U.S. Patent and Trademark Office (USPTO). The patent, titled security systems and methods based on cryptographic utility token inventory tenure,…
IBM Enters Crypto Custody Market With Tecnhology Designed for Banks
Later this month, Shuttle Holdings, a New York investment firm, will launch the beta version of a crypto custody solution for digital assets built on IBM’s private cloud and encryption technologies. The companies won’t be storing cryptocurrencies and tokens themselves, but offering tools for others to do so. Potential users include banks, brokers, custodians, funds,…
Swiss Crypto Firm X8 AG Gets Islamic Finance Certification for Sharia Compliant Stablecoin
Switzerland-based fintech firm X8 AG has received a certification from the Shariyah Review Bureau (SRB) for its Ethereum-based Sharia Compliant stablecoin, Reuters U.K. reports Nov. 12. SRB is a leading Sharia consultancy and audit firm licensed by the central bank of Bahrain. It reportedly has a presence in twelve countries, and holds the market share…
Binance Launches Its First Fiat Crypto Exchange in Uganda
Major international crypto exchange Binance has announced that its fiat crypto exchange will open in Uganda this week, the company reveals Monday, Oct. 15. CEO and founder of Binance, Changpeng Zhao (CZ), had told Cointelegraph in an exclusive interview in June of plans to open the Ugandan crypto-fiat exchange. As per Binance Uganda’s press release,…
Institutions Will Enter Crypto Market – Bakkt CEO
As reported by Ethereum World News last week, those familiar with the matter divulged that Adam White, Coinbase Institutional’s head, had unexpectedly left the San Francisco-based startup to join Bakkt, an up and coming crypto platform that has been endorsed by the Intercontinental Exchange (NYSE’s parent company), Microsoft, Starbucks, and a number of leading venture…
Auto industry to start on India’s largest blockchain implementation
In one of the biggest open ledger initiatives in India to date, automakers and component companies have decided to implement a successful vendor management system on blockchain technology, potentially porting some two billion transactions a year to the new platform. This is the first such initiative involving a large industry: automobile manufacturing revenues in India…
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