JPMorgan Expanding Blockchain Project With 220 Banks to Include Payments

Investment banking giant JPMorgan Chase is planning to expand an existing blockchain project to include settlement features as it seeks to fend off competition from payments upstarts such as TransferWise and Ripple.

The blockchain-based Interbank Information Network (IIN), set up in partnership with Australia’s ANZ bank and the Royal Bank of Canada back in 2017, currently allows its over 220 banking members to quickly address payments that contain errors or get held up for compliance reasons – problems that can takes weeks to solve with multiple banks being involved across the payments chain.

The Financial Times reported Sunday that John Hunter, head of global clearing at JPMorgan, said the IIN is fast developing and that the bank is “looking at the ability to do more at the point of settlement.”

JPMorgan, he said, has now built in a feature that would allow for real-time verification that a transaction is being sent to a valid account. Currently, an error in the recipient’s account number, sort code, or other detail, can result in the payment being rejected days after it was sent.

On that issue, banks’ payment processing is still “in the mid-80s to the mid-90s,” according to Hunter.  The “5 to 20 per cent of payments” that fail because of an error or compliance problems is “where we’re trying to alleviate some of that pain,” he said.

The FT said that the settlement system will be live in by Q3 2019, and will allow both domestic and international payments.

The Interbank Information Network has been built on Quorum, the ethereum-based blockchain network revealed by the bank in 2016. That platform is also the underlying technology for the banks much reported digital currency, JPM Coin, details of which were made public in February of this year.

The FT also reports that JPMorgan is setting up a testing sandbox – also said to be launching in Q3 – allowing fintech startups to use the IIN and ultimately develop and launch applications based on its features.

https://www.coindesk.com/jpmorgan-expanding-blockchain-project-with-220-banks-to-include-payments

Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill.

As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital currency license to Mobifinance — the fintech arm of Mobicom, the largest mobile phone provider in Mongolia.

Now licensed as a state-approved financial instrument, Mobicom’s virtual currency — dubbed “Candy” — is considered a “non-cash payment instrument” whose value is pegged to Mongolia’s fiat currency, the tugrik.

Read more: https://www.ccn.com/mongolia-issues-first-digital-currency-license-under-new-payment-system-law/

В своем последнем обновлении GatCoin рассказали о тестировании ожидаемого аирдропа по геотаргетингу. Вокруг их офиса в Сингапуре разослали на 100 телефонов токены и они прекрасно дошли. Печально что  GatCoin выпустят в виде закрытой беты только в конце этого года. Полный старт платформы только в 3 квартале 2019 года.( Токены и так стоят как песок, вот же долгоиграющий проект.

Datawallet CEO Serafin Engel выступал на Concordia Summit 2018, вместе с такими известными фигурами как Dara Khosrowshahi, CEO из Uber, Kristalina Georgieva, CEO Мирового Банка. Саммит проводиться каждый год, вместе с Генеральной Ассамблеей объединенных наций.

Сотрудничество Datawallet с Eligma набирает обороты, была опубликована рекламная статья на Coindesk о сотрудничестве, а сами Datawallet платформу обещают запустить в конце этого года.

Thursday, September 27: crypto markets continue to rise as the crypto and blockchain industry is seeing some support from governmental and institutional entities. Following a sell-off that started on September 24, crypto markets are seeing the second day of a rebound, with daily trade volume now amounting to more than $16 billion.

All but two top 20 cryptocurrencies by market capitalization have seen firm growth over the past 24 hours, following a slight price stagnation within the day and surging sharply within the past few hours.



Read more: https://cointelegraph.com/news/crypto-markets-continue-rise-with-market-cap-reaching-over-220-billion

Veem, a cross-border payments platform that uses bitcoin to move funds among businesses without the need of banks, has raised $25 million in a round led by Goldman Sachs, according to Forbes.

The service, which does not require either counterparty to hold bitcoin directly, has quadrupled its revenue in the past year. Also participating in the funding round were GV (previously known as Google Ventures), Kleiner Perkins, Pantera Capital, Silicon Valley Bank, and Trend Forward Capital.

Founded by Marwan Forzely, who previously developed and sold a service to Western Union to allow the transfer provider to connect to customer bank accounts directly, Veem uses an algorithm to route transactions automatically among the most efficient payment rails.

The onboarding process will deploy increasing levels of automation that will include built-in KYC/AML compliance.

Read more: https://www.ccn.com/google-backed-fintech-startup-uses-bitcoin-for-cross-border-settlement/

Действительно, удержать цену svd на таком рынке практически невозможно. Вспомните, зимой рассказывали что это временная криптозима, весной - что летом ico должны дать плоды и цена восстановится. А рынок все падал и падал. Капы проектов поздувались до минимума жизнеспособности. Догадываюсь, те кто на рынке не первый год знали что так и будет и вовремя вышли в доллар или биткоин.

For the recent days Pillar price shows signs of recovery and we can see forming uptrend or at least end of falling. A lot of youtube vloggers mentioned pillar in 2017, as one of disruptive coins in blockchain industry, finally we will be able to see real Pillar price after product release in Q4 2018.

From soft and hard forks to protocol upgrades, to the implementation of Segwit and to the future outlook of the Lightning Network (LN), the Bitcoin network has come a long way since its inception in January 2009. As of Sept. 18, 2018, the average block size on the Bitcoin network is .8MB and the average number of transactions per block is 1609 — so a few eyebrows were raised when a block over 2MB was added to the blockchain on Sept. 5, 2018.

Bitcoin block 540107 came in at 2.26MB; in terms of megabytes, a block this big has never been added to the blockchain before. Although the bear market has been going on for nine months, block 540107 could be a sign that the Bitcoin network is progressing technologically. To understand why, let’s first have a look at the current state of the Bitcoin network.

Currently on the Bitcoin network, the average block size is 0.804MB and there are an average of 1609 transactions per block — that is why a block like 540107, which is 2.26MB big but only has 230 transactions included in it, is such an anomaly.

Read more: https://cointelegraph.com/news/the-current-state-of-the-bitcoin-network-and-its-biggest-block

Their site may be still working, because hosting may be prepaid for years to come. It's amazing how easily ico projects collected their huge cups during ico boom with only whitepaper, with no mvp or demo. And now everyone understands KYC.Legal was a typical scam, and no one had not been brought before a judge.

On September 24th, Lamassu announced the introduction of their new line of cryptocurrency ATMs to the public. Lamassu calls its new line of ATMs, “Sintra.” The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

GROWING INDUSTRY

According to CoinATMrader.com, there are currently roughly 3,750 crypto ATMs installed worldwide. Lamassu has been producing cryptocurrency ATMs since 2013 when they produced their first, which was called the Bitcoin Machine.

While that number sounds impressive, and the number of the crypto ATMs installed continues to grow steadily, it is important to put that number in context. Information from Data.gov, for example, indicates that there are over 5,500 bank-owned ATMs in New York State alone. Crucially, this ATM count does not include independently managed ATMs at convenience stores and other retail locations.

COST

Pricing for the new crypto ATM’s ranges from 5,200 EU for the cheapest Duoro II model, to 8,900 EU for the highest price Sintra Forte model. The mid-priced Sintra model costs 7,500 EU. The Duoro II model is the newest model of Lamassu’s original Crypto ATM, and features one-way fiat to crypto conversion, while both the Sintra and Sintra Forte feature two-way conversion.

Read more: https://bitcoinist.com/lamassu-new-line-crypto-bitcoin-atms/

This week the firm Squire Mining, a company that plans to offer next-generation 10nm ASIC chips, has revealed it is working with Samsung Electronics as its foundry partner. With help from Samsung’s foundry, Squire, and a company called Gaonchips, plan to complete its ASIC chip FPGA prototype by September 30, 2018.

Squire Mining Announces New ASICs Will Use Samsung Semiconductors

On Tuesday the company Squire Mining Ltd., (CSE: SQR), has announced the business partnered with two leading firms from Southeast Asia, Gaonchips and Samsung Electronics. According to the Canada-based Squire, the collaboration will focus on producing next-generation 10nm ASIC chips for bitcoin mining. Gaonchips will be used for Squire’s semiconductor design house and Samsung will manufacture the ASIC chips in Korea.

Squire explains during the firm’s partnership announcement on September 25 stating: 


Read more: https://news.bitcoin.com/squire-mining-discloses-next-generation-asic-chips-will-be-made-by-samsung/

Cryptocurrency traders in China appear to have found numerous ways to circumvent the nationwide ban on trading with digital currencies. According to industry experts, as long as the transactions remain peer-to-peer and decentralized, regulators won’t be able to block them out completely. 

TETHER AND VPNS TO THE RESCUE

Quoting sources familiar to the matter, South China Morning Post reports that many retail investors, in addition to using illegal cryptocurrency exchanges, would convert their fiat into stablecoin Tether, and exchange between cryptocurrency wallets directly. All online actions are carried out through a Virtual Private Network (VPN) in order to protect the anonymity of the trader and to circumvent the restrictions.

The government hasn’t taken any actions on blocking VPNs, even though a source close to the matter revealed that:

Some companies like Tencent have officially confirmed that they’d block transactions, or ban accounts, associated with cryptocurrency trading. How such accounts or transactions would be identified, though, is yet to be revealed.

Read more: https://bitcoinist.com/china-cryptocurrency-tether-vpn-bypass-ban/

Nasdaq might be on the cusp of giving institutional investors an analytical edge on trading hundreds of crypto assets.

According to a person familiar with the company's plans, the U.S. stock exchange is preparing to add tools for predicting the price movements of crypto assets to its Analytics Hub. The hub, launched last year, draws machine learning and natural language processing capabilities to parse through social media and other alternative data sources to give investors a better way to assess market movement.

To date, the Analytics Hub has focused on traditional assets, but the addition of crypto seems to be another signal of Wall Street's growing interest in the nascent sector.

Read more: https://www.coindesk.com/nasdaq-said-to-be-building-tool-to-predict-crypto-price-movements/

Судя по последним новостям Datawallet были представлены на конференции Dezentral в Берлине очень активно. На сцене выступал CEO Serafin Engel с графиками и слайдами, а техническая команда на стенде была готова ответить на вопросы инвесторов. Сейчас во время негативной фазы рынка, цель команды подключить к сервису как можно больше средних и больших бизнесов покупателей информации. Работает команда продажников в Нью Йорке, еще одна конференция в США и Германии в ближайшем будущем.

Blockchain Records Will now be Accepted as Legal Evidence, China’s Supreme Court Rules

Internet courts in China will henceforth deem evidence authenticated using blockchain technology as being legally binding.

This follows the publication of new rules by the Supreme People’s Court of China which state that blockchain records will now be admissible in court. According to the South China Morning Post, internet courts which have been set up with a view of handling internet-related legal disputes will now be in a position of recognizing digital data as evidence upon verification by methods that include among others blockchain, time stamps and digital signatures.

An announcement by the Supreme People’s Court stated the following:

“Internet courts shall recognize digital data that are submitted as evidence if relevant parties collected and stored these data via blockchain with digital signatures, reliable timestamps and hash value verification or via a digital deposition platform, and can prove the authenticity of such technology used.”

Read more: https://www.ccn.com/blockchain-records-will-now-be-accepted-as-legal-evidence-chinas-supreme-court-rules/

The regulator pointed to “a lack of current, consistent and accurate information” in the two crypto investment vehicles issued by Swedish firm XBT Provider AB following their entry into the US market last month.

The U.S. Securities and Exchange Commission (SEC) on Sunday issued an order to halt the trading in Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF), two investment products that track cryptocurrencies. The two exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based Coinshares Holdings.

The two products have been listed on the Nasdaq Stockholm exchange since 2015 and entered the U.S. market last month under the ticker CXBTF, enabling domestic investors to access and invest in the crypto ETNs in an over-the-counter (OTC) market with their U.S. dollars.

Read more: https://www.ccn.com/sec-suspends-trading-in-bitcoin-and-ethereum-investment-products/

A new blockchain event is coming to Atlanta, Georgia.

On Friday, the Atlanta Journal-Constitution (AJC) reported on the upcoming “Atlanta Blockchain Week” event. The event begins on September 29th and concludes on October 7th — just over a full week.

The Atlanta Blockchain Week Website says:

The Atlanta Blockchain Week is a collective week of events with the collaboration of blockchain community organizations and startups.

A TRIP TO “WACOINDA.”

The event will revolve around a central “Tech Village,” in and will incorporate a number of outlooks and disciplines. The AJC describes the upcoming scene:

Read more: https://bitcoinist.com/atlanta-to-hold-blockchain-week-event/

Смотрите, Goldman Sachs помогли обрушить рынок вчера своим заявлением что не будут открывать торговую доску по криптовалютам, а сегодня уже говорят что эта новость фейк и крипту они рассматривают.

Ну чистой воды манипуляция рынком.

Я представляю какие для них сейчас вкусные цены для закупа альтов.

A top Australian financial regulator has indicated it will take a new approach when regulating cryptocurrency exchanges, as well as tighten scrutiny of initial coin offerings (ICOs),.

In its a corporate plan for 2018–2022, released Friday, the Australian Securities and Investments Commission (ASIC) outlined its areas of focus for the period. Top of that list is to continue "monitoring threats of harm from emerging products" such as ICOs and cryptocurrencies.

Further, for 2018 and 2019, ASIC said it is developing a new framework that will apply "the principles for regulating market infrastructure providers to crypto exchanges" and will intervene where "there is poor behavior and potential harm to consumers and investors."

According to the ASIC website, its current market infrastructure principals include a licensing scheme, via which it seeks to supervise financial market operators, settlement facilities, derivative trading and market participants.

The planned framework follows cross-department efforts the ASIC has been taking to implement supervisory approaches, such as dispatching staff onsite in financial institutions related to emerging tech including cryptocurrency, ASIC indicated.

Read more: https://www.coindesk.com/australian-watchdog-to-apply-market-rules-to-crypto-exchanges/