Jonny Fry

7 Years Ago |

Is Nike going to beat Facebook to launch a mass market Crypto?
 
Nike the world’s’ largest shoe manufacturer and the most valuable apparel brand in the worldhas filed a trademark called “CryptoKicks” which could lead to them launching their own Crypto currency. This rather bold claim is on the back of Nike’s application which states “Financial services, namely, providing a digital currency or digital token for use by members of an online community via a global computer network; facilitation of financial transactions using unconventional currency systems and bartering, namely.”

Interestingly, earlier this year, Nike launched trainers that lace themselves, called HyperAdapt . Therefore,...

Log In or Become A Member To See More

You do not have permission to comment on posts

Please contact us if you think there is an error!

ING Bank to offer ‘Bulletproof’ private Blockchains

BBFTA News Editor | April 26, 2019 | PERMALINK

The giant Dutch bank, ING, has called upon the cryptographic skills of Stanford University in California, University College London, and start-up Blockstream, to offer greater privacy when transferring Bitcoin, by hiding certain transaction details.

ING are calling this new method ‘Bulletproof”, and claim it is 300 times more efficient than some other methods of sending Digital currencies. Interestingly, this new method may be extremely helpful as a way to record data using Blockchain technology and still comply with GDPR regulations across Europe.Keeping user-information and data private has been a real challenge for exponents of Blockchain technology, and has led to some organisations turning to private or permissioned Blockchains.

Bulletproof Blockchains could also be ideal for security tokens, especially where the underlying asset is a publicly quote equity or may contain price-sensitive information. It would appear...

ING are calling this new method ‘Bulletproof”, and claim it is 300 times more efficient than some other methods of sending Digital currencies. Interestingly, this new method may be extremely helpful as a way to record data using Blockchain technology and still comply with GDPR regulations across Europe.Keeping user-information and data private has been a real challenge for exponents of Blockchain technology, and has led to some organisations turning to private or permissioned Blockchains.

Bulletproof Blockchains could also be ideal for security tokens, especially where the underlying asset is a publicly quote equity or may contain price-sensitive information. It would appear that, as it is now possible using ING’s bulletproof system, it could be possible to carry out transactions using a Blockchain, but not disclose the price of the asset, who is the buyer or seller, or how much is being transacted.

This would be a real breakthrough and would help to allay compliance officers’ concerns within asset managers and banks about having price-sensitive information in the public domain.

Enthusiasts of Digital Assets believe that if user's transactions can be made private and not available to prying eyes, it might help minimise scams and frauds, and attract more investors.

READ MORE

#FrontierInsights

Banking

Blockchain

https://cryptosumer.com/2019/04/15/ing-bank-is-...ockchains/

Jonny Fry

7 Years Ago |

While #Blockchain solutions are being used to help slash the cost of money transfers Fintech firms are being relied on more and more to help big banks combat fraud too #AI https://emerj.com/ai-sector-overviews/artificial-intelligence-fraud-banking/ 

You do not have permission to comment on posts

Please contact us if you think there is an error!

Sharon Henley

7 Years Ago |

Remember to check out the events page to see which exciting events are happening near you. And be sure to look out for the Exclusive Partner events to see the exclusive discounts we have for out BBFTA members. 
Coming up is the annual event: "Blockchain for Business 2019: From Hype to Action"
BBTFA members are eligible to a 20% discount on tickets.
https://tmt.knect365.com/blockchain-business-summit/purchase/select-package?vip_code=BBFTA20 

You do not have permission to comment on posts

Please contact us if you think there is an error!

London Stock Exchange launches the first of potentially many Security Token Offerings (STOs)

BBFTA News Editor | April 24, 2019 | PERMALINK

The London Stock Exchange (LSE), which is one of the largest regulated exchanges globally, has issued an STO worth £3 million on the LSE’s Turquoise platform.

This is the first STO, or as some are calling it an Equity Token-Offering (ETO), for The LSE, and has been carried out within the Financial Conduct Authority’s (FCA) Fintech Sandbox for a company called 20/30.

Nivaura helped with the 20/30 issue, and had previously been involved in launching a bond on the Ethereum network, claiming that by using Blockchain technology the costs of issuing a bond could fall by as much as 65% to 80%.

Nivaura recently raised over £20 million from Linklaters, Allen Overy, and the LSE to develop their business as they believe that Digitising the issuance of bonds...

This is the first STO, or as some are calling it an Equity Token-Offering (ETO), for The LSE, and has been carried out within the Financial Conduct Authority’s (FCA) Fintech Sandbox for a company called 20/30.

Nivaura helped with the 20/30 issue, and had previously been involved in launching a bond on the Ethereum network, claiming that by using Blockchain technology the costs of issuing a bond could fall by as much as 65% to 80%.

Nivaura recently raised over £20 million from Linklaters, Allen Overy, and the LSE to develop their business as they believe that Digitising the issuance of bonds and equities for private and publicly quoted businesses is here to stay.

No doubt other exchanges around the world will be keeping a close watch on the LSE, as they will not want London to steal too big an advantage in this sector, which is attracting considerable institutional interest around the world!

READ MORE

#FrontierInsights

Finance

Digital Assets

STO

Why are Twitter, Facebook and Telegram looking at Digital Assets.

BBFTA News Editor | April 24, 2019 | PERMALINK

The key to success for many businesses is having strong and effective distribution, and this is what Telegram (200+Million), Twitter (300+Million), Facebook (2.3 Billion + 1.5 Billion using WhatsApp and 1 Billion using Instagram) have already done.

So, all three firms, with their existing distribution could enable each one of them to launch their own Digital Currency and try and take a slice of the $5+Trillion foreign exchange market (as estimated by the Bank of International Settlement). On top of this, there are the internal cash, credit and debit card transactions every day within each country across the world, so the potential size of the market to go for is huge.

In the $508 Trillion global publicly quoted equity and bond market, there is also the potential for a successful Digital Currency provider to target these assets too,...

So, all three firms, with their existing distribution could enable each one of them to launch their own Digital Currency and try and take a slice of the $5+Trillion foreign exchange market (as estimated by the Bank of International Settlement). On top of this, there are the internal cash, credit and debit card transactions every day within each country across the world, so the potential size of the market to go for is huge.

In the $508 Trillion global publicly quoted equity and bond market, there is also the potential for a successful Digital Currency provider to target these assets too, if the former NASDAQ CEO and chairman, Robert Greifeld is right. He believes that by 2022, all Wall Street financial instruments such as bonds, real estate, and equities will be tokenized. For tokenised, think of digital, and Silicon Valley organisations have many of the digital skill sets needed to become competitors to the traditional Wall Street incumbents.

One of the key factors holding back mass adoption of Digital Assets, is that dealing in Digital Assets is not very user-friendly, but I suspect Facebook, Telegram or Twitter will soon work out how to solve this challenge.

Facebook is looking to issue Facecoin, Telegram is rumoured to be going to launch GRAM and Jack Dorsey, the founder of Twitter, also the founder of Square - a financial services payments business are currently hiring engineers as it gears up its Crypto skills. Jack Dorsey is known to be supportive of Digital Assets, just look at his Twitter feed, so will Square’s Crypto skills be used within Twitter?

READ MORE

#FrontierInsights

Social Media

Digital Assets

https://bitcoinexchangeguide.com/will-telegram-...major-way/

94% of Universities and Endowment funds have invested in Crypto assets and or Crypto funds.

BBFTA News Editor | April 24, 2019 | PERMALINK

In a survey of over 150 universities and endowments in Canada, USA and UK, 94% of the respondents said that they had already invested in Crypto assets - 54% directly and 46% using different types of funds, and only 7% said they were looking to reduce their exposure over the next year.

The survey, although released recently, was conducted in Q4 2018, i.e. when many Digital Assets prices were considerably lower than they are currently, and the sentiment was much more negative to this asset class.

However, the survey revealed that there are still concerns about investing in Digital Assets, such as custody, liquidity, and regulation.

Harvard, with its $39 Billion foundation, is reportedly going to invest $11.5 Million into Blockstack, which will be the first Security Token Offering (STO) that will comply with SEC A+ Regulations, as Blockstack looks to raise $50 million later this year.

Muneeb Ali, co-founder, and CEO of Blockstack...

The survey, although released recently, was conducted in Q4 2018, i.e. when many Digital Assets prices were considerably lower than they are currently, and the sentiment was much more negative to this asset class.

However, the survey revealed that there are still concerns about investing in Digital Assets, such as custody, liquidity, and regulation.

Harvard, with its $39 Billion foundation, is reportedly going to invest $11.5 Million into Blockstack, which will be the first Security Token Offering (STO) that will comply with SEC A+ Regulations, as Blockstack looks to raise $50 million later this year.

Muneeb Ali, co-founder, and CEO of Blockstack PBC, said in the press release:

“Blockstack has been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. Our framework is consistent with the latest SEC guidance released last week. Upon qualification, we believe that this offering may be the first time a blockchain project receives approval to access the public U.S. securities markets.”

This is clear evidence that institutional investors have been buying Digital Assets. As we see more   STOs being launched, which will be subject to much tighter regulation, custody providers ought to be able to offer their services to these types of assets. This is important as the lack of custody providers is another reason cited as to why institutions have not significantly invested in Digital Assets to date.

READ MORE

#FrontierInsights

Cryptocurrency

Investment

https://www.globalcustodian.com/vast-majority-e...vestments/

Crypto donation sites to help Notre Dame

BBFTA News Editor | April 24, 2019 | PERMALINK

Within hours of the news about the fire at the Notre Dame cathedral Bitcoin owners, were being asked to send funds to help in the restoration of the Parisian landmark.

The appeal was initiated by a French journalist, and Gregory Raymond, on Twitter, he hoped such charitable actions by owners of Bitcoin could illustrate to the lawmakers that Digital Assets can be used for good, and not just the small percentage of criminal uses often cited by regulators and naysayersIt is not just Crypto donations that are being accepted.

The CEO of Kering, which owns Gucci and Queen Alexander, have given $100 million, and the owner of LVMH has pledged $200 million. Mere mortals can send fiat too as The Friends of Notre-Dame de Paris has a donation page, or...

The appeal was initiated by a French journalist, and Gregory Raymond, on Twitter, he hoped such charitable actions by owners of Bitcoin could illustrate to the lawmakers that Digital Assets can be used for good, and not just the small percentage of criminal uses often cited by regulators and naysayersIt is not just Crypto donations that are being accepted.

The CEO of Kering, which owns Gucci and Queen Alexander, have given $100 million, and the owner of LVMH has pledged $200 million. Mere mortals can send fiat too as The Friends of Notre-Dame de Paris has a donation page, or one can use GoFundMe or JustGiving.

There has been some backlash to the amount of money raised for Notre Dame which within a few days is over $750 Million as some claimed there are worthier causes….

READ MORE

#FrontierInsights

Cryptocurrency

Fund-raising

Infrastructure

France pushing for Europe to a common way to treat Cryptos

BBFTA News Editor | April 23, 2019 | PERMALINK

The French Finance minister is trying to encourage other European countries to develop a set of rules as to how Cryptocurrencies are to be regulated and taxed, following France’s parliament passing legislation last week on how intermediaries handle these assets.

Known as the “Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) it reportedly enables insurance companies in France to invest in Digital Assets.

France is keen to encourage tech innovation and different types of funding that Digital Assets have been using like Initial Coin Offerings. The French are keen to have some controls and regulations, to ensure that investors are protected from fraudulent activities from firms looking to create Digital Assets, but not to protect investors from losses should they occur.

Regulations vary wildly by country within Europe as there is no pan-European legislation. However, local regulators across Europe...

Known as the “Plan d’action pour la croissance et la transformation des entreprises,” (Pacte) it reportedly enables insurance companies in France to invest in Digital Assets.

France is keen to encourage tech innovation and different types of funding that Digital Assets have been using like Initial Coin Offerings. The French are keen to have some controls and regulations, to ensure that investors are protected from fraudulent activities from firms looking to create Digital Assets, but not to protect investors from losses should they occur.

Regulations vary wildly by country within Europe as there is no pan-European legislation. However, local regulators across Europe are imposing restrictions on platforms that do not have the correct permissions to offer brokerage services. The European Union has previously proposed that firms offering services in the Digital Asset sector be subject to its anti-money ‎laundering and countering terrorist financing regulations.‎

As more governments understand the transformational impact that Digital Assets are able to have on their economies, we are likely to see more jurisdictions formulating legislation to encouraging the adoption of Digital Assets. The alternative is, that because these assets are Digital, companies will base themselves in countries that are more accommodative.

READ MORE

#FrontierInsights

Cryptocurrency

Finance

Regulators

Digital Assets

https://uk.reuters.com/article/us-france-crypto...KKCN1RR1Y0

Korea’s largest telco will be using Blockchain technology in its new 5G network

BBFTA News Editor | April 23, 2019 | PERMALINK

KT Corporation (KT), Korea’s largest telecoms company, is launching its new 5th generation internet service and will be using Blockchain technology to provide additional security, which they believe is important especially for the growing Internet of Things (IoT) market.

The reason they are focussing on IoT is, that according to KT, 99% of IoT devices have been subject to some form of hacking, but KT hopes that by using Blockchain technology they can make IoT devices more secure.Korea has been at the forefront of Blockchain and Digital Asset adoption, and KT had only a few weeks ago announced it was to trial the K Token in a city called Gimpo, in Korea. The K token is designed to help residents and shops in Gimpo to be able to carry out transactions faster and more efficiently, and interestingly, is also...

The reason they are focussing on IoT is, that according to KT, 99% of IoT devices have been subject to some form of hacking, but KT hopes that by using Blockchain technology they can make IoT devices more secure.Korea has been at the forefront of Blockchain and Digital Asset adoption, and KT had only a few weeks ago announced it was to trial the K Token in a city called Gimpo, in Korea. The K token is designed to help residents and shops in Gimpo to be able to carry out transactions faster and more efficiently, and interestingly, is also going to be used to help in social and community projects.

READ MORE

#FrontierInsights

Blockchain

Fintech

IOT

https://bitcoinexchangeguide.com/south-korean-t...g-network/

Businesses continue to file Blockchain patents around the world.

BBFTA News Editor | April 23, 2019 | PERMALINK

There has been a considerable number of patents being issued by companies on a global basis for applications using Blockchain technology, recently including Accenture, IBM and Thomson Reuters.

Accenture has filed in the US, a Blockchain patent around the interoperability of Blockchains, which a key concern for corporations as they do not want to be ‘locked-in’ using a Blockchain that will not interact with other Blockchains.

IBM’s patent involves the use of data and Blockchain technology for self-driving cars to asses nearby drivers’ behaviour. Collecting data from a variety of different sensors and then calculating the most - likely maneuvers of nearby vehicles/drivers.

Thomson Reuters patent, which is filed in the USA, is around storing identity-related data securely on a ‘token‘ on a Blockchain. 

One of the reasons companies register patents...

Accenture has filed in the US, a Blockchain patent around the interoperability of Blockchains, which a key concern for corporations as they do not want to be ‘locked-in’ using a Blockchain that will not interact with other Blockchains.

IBM’s patent involves the use of data and Blockchain technology for self-driving cars to asses nearby drivers’ behaviour. Collecting data from a variety of different sensors and then calculating the most - likely maneuvers of nearby vehicles/drivers.

Thomson Reuters patent, which is filed in the USA, is around storing identity-related data securely on a ‘token‘ on a Blockchain. 

One of the reasons companies register patents is to have evidence that they own Intellectual Property (IP) and so increase the intangible assets they possess. It is then possible, depending on where the company is based, to enjoy significant tax advantages. Depending on which country a firm files a patent, it is possible to claim tax relief going back for up to TWO years on most of the expenses relating to the creation of the patent, and associated research and development costs. This is significant, as even for small start-up companies it may be possible to offset not just corporation tax, but VAT and employment taxes such as National Insurance.

The chart shows the dominance of China in terms of Blockchain patents. One of the reasons for applying for a patent in China is that the income derived from an activity that has a patent enjoys a lower potential tax as the burden is reduced from 25% to 15%. Source: Coin Telegraph.

However, while The Chinese government is desperately keen to be an IT powerhouse, a significant % of the patents that are filed in China do not get granted. In 2017, China filed over 1.3million patents, which was an increase of over 600% from the 204.00 in 2008. To offer some context there were 525,00 patents filed in the USA in 2017, which was an increase of 20% from the 429,000 filed in 2007. However, of the 1.2 million Chinese applications only 26% were actually granted, while in the US over 50% of applications applied for, were successfully granted.

Companies globally are often valued on their intangible assets, such as their Intellectual property and brand value, so having a number of patents helps when they look to raise capital, or when they come to sell the business. This, coupled with generous tax breaks, may help explain the rise in patent applications around the world, although if you wanted to be cynical, patents are being sorted to gain some control over Blockchain technology for the future!

READ MORE

#FrontierInsights

Blockchain

Patents

https://tech.newstatesman.com/guest-opinion/chi...tent-rates

Facebook to raise $1 Billion for its Cryptocurrency

BBFTA News Editor | April 23, 2019 | PERMALINK

A New York Times journalist has reported that Facebook has been talking to Venture Capital (VC) firms to raise $1 Billion to invest in its cryptocurrency project.

Facebook is looking to launch Facecoin in India on its WhatsApp platform later this year, and it is thought Tim Draper, a VC manager who backed Skype, Bitcoin ( five years ago) and Coinbase, is considering to participate and invest.

Facebook is allegedly going to issue a stablecoin, although it is not clear yet whether it will be pegged/linked to the US$, or to a basket of international currencies. Given Facebook‘s global reach of users, a stablecoin based on a basket of currencies could be an interesting proposition. While the concept of investing in a basket of currencies is not new,...

Facebook is looking to launch Facecoin in India on its WhatsApp platform later this year, and it is thought Tim Draper, a VC manager who backed Skype, Bitcoin ( five years ago) and Coinbase, is considering to participate and invest.

Facebook is allegedly going to issue a stablecoin, although it is not clear yet whether it will be pegged/linked to the US$, or to a basket of international currencies. Given Facebook‘s global reach of users, a stablecoin based on a basket of currencies could be an interesting proposition. While the concept of investing in a basket of currencies is not new, as it has been possible to invest in such an asset for a while and there are Exchange Traded Funds (ETFs) securities that offer this exposure, a stablecoin that gives exposure to a basket of currencies would be unique as a Digital Asset.

Mark Zuckerberg, the founder and CEO of Facebook, who is reportedly worth over $66 Billion, has spoken a lot about Facebook’s plans to launch its own Digital Currency, and his company now has over 50 people working on this project, including David Marcus, the former President of PayPal.

Some are predicting that Facebook is looking to offer an alternative to the US$ and emulate the success that We Chat in China has had, offering a money transfer solution. In any event, with Facebook’s financial muscle and strong balance sheet (as it is sitting on over $40 Billion of cash and investments), it is surprising that it is looking to raise more capital. So, what else is this global titan, which has been the subject of so much recent criticism up to now, and will the launch of Facecoin really enable Facebook to attack the lucrative financial services sector?

There could be a much bigger story here as Facebook looks to further monetise our behaviour and gather even more data about what we buy and sell, then selling this data to their advertising clients. Facebook could reward users, based on the number of “likes and shares” people make, whether it be on Facebook, WhatsApp or Instagram, as they are all part of the same organisation. How long though will it be before we see Amazon, Apple, Google Microsoft, etc. issuing their own Digital currencies, bypassing banks and governments, in a scramble to be the go-to Digital alternative payment mechanism?

READ MORE

#FrontierInsights

Cryptocurrency

Investment

Social Media

https://www.coinsnetwork.com/2019/04/11/faceboo...ocurrency/

DLA Piper announces Digital Securities Alliance with Luxemburg based Fintech company

BBFTA News Editor | April 23, 2019 | PERMALINK

DLA Piper (DLA),  one of the world’s largest law firms with over 4,900 lawyers and offices in 40 countries, are working with Tokeny, who were set up in 2017.

They bring both traditional market experience and a platform that uses Blockchain technology. The intention is to bridge the gap between Blockchain and finance to help companies navigate them themselves to raise capital in a landscape that is increasingly digitised.

DLA, with its global network of offices, is looking to offer a cost-effective way to help companies that want to issue a Digital Asset in initially up to 15 different jurisdictions. Working with Tokeny’s platform, depending on where the company is based and in what jurisdiction they want to attract investors firms will be able to have access to DLA’s...

They bring both traditional market experience and a platform that uses Blockchain technology. The intention is to bridge the gap between Blockchain and finance to help companies navigate them themselves to raise capital in a landscape that is increasingly digitised.

DLA, with its global network of offices, is looking to offer a cost-effective way to help companies that want to issue a Digital Asset in initially up to 15 different jurisdictions. Working with Tokeny’s platform, depending on where the company is based and in what jurisdiction they want to attract investors firms will be able to have access to DLA’s expertise.

The bad news is that Tokeny uses a new acronym: “T-REX” (Token for Regulated Exchanges) so investors need to learn this along with ICO, STO, IEO, DPO, Direct Access and good old IPO (as discussed in last week’s edition…).

The Digital Securities Alliance that DLA has created with Tokeny is significant, given the number of corporate clients that DLA look after in many different jurisdictions. It will no doubt lend credibility to Digital Assets and encourage reputable organisations to consider how T-Rex (which will be subject to far greater regulation that Initial Coin Offerings (ICOs) have) can help firms raise capital.

READ MORE

#FrontierInsights

Fintech

Digital Security

https://www.dlapiper.com/en/uk/focus/digital-se.../overview/

Jonny Fry

7 Years Ago |

Blockchain $ Billion Babes!
Blockchain technology is impacting our lives in many ways, and while there were lots so headlines in 2017 and 2018 about the price of Bitcoin and how Ripple had risen in value in a12 month period by over 37,000, large corporates have been busy behind the scenes. Indeed, as the link at the end of this illustrates big businesses across the globe have been investing and trialling various projects to ensure that they are not left behind.
Blockchain technology offers a powerful combination of better security, and greater efficiency to move so reducing costs and by in...

Log In or Become A Member To See More

You do not have permission to comment on posts

Please contact us if you think there is an error!

Jonny Fry

7 Years Ago |

 
Laws struggle to find new staff with Blockchain knowledge
 
As more organisations turn to their lawyers for help and advice lawyers themselves are struggling to recruit sufficient staff to fill the vacancies they have, as they try and keep up with demand. Many of the global firms have been adding staff as demand has risen for data privacy and security legal expertise.
Mary K. Young, a partner at Zeughauser Group, the law firm consultancy, “don’t focus on the crypto, focus on the blockchain. It will be a game changer.”
In Canada we have seen the launch of a law firm just focused on CRYPTO,...

Log In or Become A Member To See More

You do not have permission to comment on posts

Please contact us if you think there is an error!