Polkadot network launches parachain functionality

Parallel Lines

Polkadot, a network protocol for connecting multiple blockchains, has launched its first five parachains, individual blockchain networks running in parallel to create an interoperable ecosystem.

The five parachains that went live this weekend – Acala, Astar, Clover, Moonbeam, and Parallel Finance – were chosen following successful crowdfunded auctions and focus on topics from decentralised finance (DeFi) to investments and loans.

In total, the five projects raised...

SEBA Bank makes it possible to digitally own physical gold

A pile of gold bars and coins.

Digital assets banking platform, SEBA Bank, has launched a Gold Token, a regulated digital token for investment in and delivery of physical gold on-demand. 

SEBA Bank issues a token backed by what it describes as responsibly sourced gold, providing a cost-effective access to the precious metal, and sets a new standard in the stablecoin sector.

The SEBA Bank Gold Token is a landmark development in investment products, enabling investors for the first time to own a...

HSBC and Wells Fargo using blockchain to settle forex trades

HSBC HQ

HSBC and Wells Fargo, two of the world’s largest financial institutions, have started using blockchain technology to settle foreign currency trades.

The distributed ledger technology is being provided by Baton Systems with the aim of increasing settlement speed and efficiency.

Through Baton’s platform, the two banks are settling FX trades with real currencies and real accounts in less than three minutes.

It avoids passing the trades through CLS, a...

Blockchain Association boosts lobbying power with $4m funding injection

Capitol Building

The Blockchain Association, a lobbying group for improving public policy towards crypto and decentralised ledgers, has raised $4 million (£2.97m) in new funding.

A decentralised web advocate group, the Filecoin Foundation, provided half the funding with the promise of an additional $2 million (£1.49m) if the Blockchain Association can match it through outside funding.

Crypto exchange Kraken and Digital Currency Group – the parent company of CoinDesk – contributed...

Michael Jackson, Concordium: Bringing blockchain to traditional finance

Michael Jackson

“We’re trying to shoehorn permissionless technology into extremely permissioned environments,” reveals Michael Jackson, advisor to Concordium and former COO of Skype.

Jackson’s take is a breath of fresh air in a blockchain industry that has become bogged down in use cases that are struggling to find their feet. For years, the ideas of supply chain ledger technologies and pharmaceutical blockchains have sat stagnant in the water waiting to be realised.

As the...

Taproot soft fork upgrade goes live for Bitcoin network

Bitcoin

The Taproot soft fork upgrade was activated for the Bitcoin network on November 14, marking the first major upgrade to the world’s largest cryptocurrency since August 2017.

Taproot is designed to improve privacy, scalability, and security on the network through a variety of technical innovations.

A key feature of the upgrade is the introduction of the Merkelised Abstract Syntax Tree (MAST). According to one of Taproot’s main developers, Hampus Sjöberg, MAST makes...

Open Rights Foundation unlocks 1.18 million ORE token community reward

An Open Rights Foundation image.

The Open Rights Foundation (ORE), in partnership with AllianceBlock, has initiated a one-month liquidity mining campaign, with a total of 1,180,000 ORE ($ORE) Tokens to be distributed over 30 days.

The ORE blockchain is built for decentralised identities, assets and rights. ORE works cross-chain with Ethereum, Algorand, EOS and more to connect Web 2.0 identities to Web 3.0 — with the aim of allowing everyone, everywhere to easily use blockchain technology. 

ORE is...

Prepare your banking business for the future

The banking sector faces a moment of reckoning. Bitcoin is legal tender in El Salvador and accepted at outlets from Home Depot to Starbucks. Traditional banks face growing competition from specialists, digital challengers and non-bank brands. Branches are a thing of the past.

For banking management, this is much more than just a shift in market dynamics. The digitization forces currently at work threaten the very foundations of our finance and economy, creating the need for new...

Cardano Summit 2021 sees DeFi, NFT and climate partnerships

A protester holding a sign that reads 'Earth is more valuable than money'.

The Cardano Summit 2021 on September 26 has led to a number of strategic partnerships designed to drive adoption of the Cardano blockchain being announced.

Held by the non-profit custodian of the blockchain, the Cardano Foundation, the Summit was co-located across a mixture of virtual and physical events in New York, Miami, Wyoming, London, Berlin and Cape Town.

At the event, Frederik Gregaard, CEO of the Cardano Foundation, said: "At Cardano, our goal is to provide...

HIVE Blockchain warns of fraudulent impersonator websites

Crypto miner HIVE Blockchain Technologies has issued a warning against multiple imposter groups pretending to be HIVE to “defraud individuals”.

According to a post on its website, some people have already been targeted and affected by these groups, having lost money to supposed investments.

“Some of these impersonator groups appear to promise large returns on investment and are not legitimate. Other impostors are promoting investment through an app. We are not...