We bring all the news on Blockchain from around the world served hot to you on your screens. This week, we saw some major developments in the Blockchain Sphere. Here are the top 10 Blockchain news Globally:
- Kakao Claims Its New Blockchain Is 15x Faster Than Ethereum: South Korean messaging app provider Kakao has claimed that its recently launched Klaytn blockchain network is up to 15 times faster than ethereum. As reported by The Korea Herald on Tuesday, Kakao’s blockchain subsidiary GroundX held a press conference in the South Korean capital Seoul, saying that, while Klaytn can mine a block in as little as a second, ethereum takes around 15 seconds.
- Fidelity, Deloitte and Amazon Now Support Workshops for DLT Startups: The new blockchain accelerator is an initiative of IDEO CoLab Ventures, the venture capital division of United States-based design consultancy firm IDEO. Supported by Fidelity, Deloitte and Amazon, as well as major crypto industry players, Startup Studio is set up to provide workshops to blockchain startups to help them enhance a variety of skills, including product design, law and engineering, smart contract development, finance and hiring, among others.
- The Week’s Report: Modi discussed crypto standards at Osaka G20 Summit: Prime Minister Narendra Modi Engaged in the G20 Summit at Osaka, Japan in the Talks on crypto assets. The leaders of the G20 nations in a joint announcement announced their commitment to implementing the crypto criteria determined by the Financial Action Task Force (FATF). The FATF is an intergovernmental organisation in charge of developing policies that are international . It contains 37 member authorities, such as India.
- RBI’s Regulatory Sandbox: Key Takeaways for Blockchain Companies: The Reserve Bank of India recently published the draft ‘Enabling Framework for Regulatory Sandbox’ (April, 2019). In light of the growing importance of FinTech inventions and their interface with the financial industry in addition to financial industry entities, the Financial Stability and Development Council – Sub Committee had determined to prepare a Working Group (WG), to research and report on the granular areas of FinTech and its consequences which includes Blockchain technology but not Cryptocurrencies and ICOs, in order to examine and reorient suitably the regulatory frame and answer the dynamics of this rapidly evolving FinTech situation. Among the recommendations of this WG was to present a proper frame for a ‘Regulatory Sandbox’ inside length and a distance.
- Chia Releases Green Paper Detailing Eco-Friendly Means of Crypto Mining: San Francisco-based tech firm Chia Network has released a green paper that describes an eco-friendly means of mining cryptocurrencies. The green paper provides a description of how proof of space and proof of time create a “Nakamoto-style” consensus algorithm for Chia’s blockchain. Specifically, Chia proposes to “farm” rather than mine to verify blockchains that issue cryptocurrencies, wherein proof of space and proof of time take the place of the proof of work (PoW) principle used for mining of Bitcoin (BTC) and Ethereum (ETH).
- The Emergence of Stable Coins: Among plenty of emerging use cases (examples are here and here), the technology aims to create a new and improved payments system for the world — secure, transparent, decentralized, fast and low cost, utilizing cryptocurrencies (digital cash) as a means of exchange. But the value of most cryptocurrencies, especially Bitcoin, fluctuates on a daily basis. Examples of difficulties to cope with this volatility is highlighted here. For asset-funds, hedging again Stablecoins is the only way to manage extreme price fluctuations.
- Ledgity: Mobile Exchange for Security Tokens: Ledgity is working to improve our financial system and especially the trading ecosystem to make it more efficient. This technological leap will help startups and companies to easily finance their growth through Security Token Offerings. By liberating our financial system from cumbersome processes, we can create tremendous value for the economy. Companies and innovative startups can finally get an easy, efficient, compliant, and affordable process to raise funds.
- Deutsche Bank winding down its investment banking arm paints a bleak picture of traditional finance at a time of booming growth for bitcoin and crypto: Deutsche Bank Carrying an axe to 18,000 jobs and winding down its investment banking arm paints a bleak picture of traditional finance at a time of booming growth for crypto.
Moreover, the very fact that DB’s decision broke on a Sunday points to yet another Achilles Heel for traditional fund, based on VanECK digital asset strategist and MVIS director Gabor Gurbacs, who tweeted: While keeping a small-scale equity capital markets industry, DB also intends to rein in its fixed-income business — specifically, its prices trading desks — Reuters notes.
- IBM Podcast: How Blockchain is shaking up the ticketing industry: IBM Blockchain Pulse with the help of Matt Hooper who as quoted is exploring the current ticketing industry and how blockchain is really shaking things up spoke with two of the people behind the hot, new, and exciting ticketing start-up: True Tickets. True Tickets is helping provide digital customizable rights management for digital tickets to the ticketing issuer.
- If Growth Continues, I’ll buy Bitcoin: Said Mark Mobius: Bitcoin (BTC) could actually triumph over veteran investor Mark Mobius when its current bull run proceeds. He was quoted saying this while having a conversation with Bloomberg. Speaking in an interview on Bloomberg TV, Mobius, that has delivered significant statements about cryptocurrency, said it was not possible to dismiss. “I am not a purchaser, but I understand it is something we must account for,” he outlined. As a veteran of U.S. fund, Mobius stays widely on the fence around crypto, a stance nonetheless clearly more optimistic than that of characters like Warren Buffett and JPMorgan Chase CEO, Jamie Dimon.