Stijn Vander Straeten, Crypto Storage AG: Finance needs to run with blockchain or risk the Kodak moment

Switzerland is a fascinating area to explore when it comes to blockchain technologies – both from a technological and a regulatory standpoint. The country was one of the first to publish specific country-wide ICO guidelines, doing so in February last year, while its Crypto Valley has enabled blockchain startups to thrive.

One such company is Crypto Finance AG. The company’s overall goal is to dedicate itself to ‘offering professional access to the crypto universe… to...

BNY Mellon appoints Subhankar Sinha as head of blockchain

BNY Mellon has announced the appointment of Subhankar Sinha as the head of its blockchain operations.

Based in New York, Sinha will focus on developing partnerships with incubators, startups, accelerators and business partners to drive enterprise innovation and build ecosystems for all BNY Mellon blockchain initiatives. Before joining BNY Mellon, the recent focus of Sinha was on the impact of blockchain and tokenization on lending and securitization.

Over the past...

Q&A: Steve Davies, PwC: On creating value through blockchain amid uncertainties

“Is your business ready for blockchain?” asks PwC on its portal page, adding: “The most exciting thing about blockchain is that its true potential is still unknown.”

If you’re not ready, then the consultancy giant is more than ready to help, offering expertise across cryptocurrencies and payments, smart contracts, DLT assurance, the supply chain, as well as identity and security. Earlier this month it was reported that PwC was testing blockchain technology for...

Ernst & Young unveils updates to two blockchain platforms

Ernst & Young (EY) has announced the launch and update of two blockchain-based solutions, namely the zero-knowledge proof (ZKP) private transaction protocol and a second generation of its blockchain analytics tool, known as the Blockchain Analyzer.

The ZKP private transaction protocol has been released into the public domain to expedite secure and private transactions over public blockchains, which will help enterprises and investors who are unable to conduct such secure...

Q&A: William Lovell, Bank of England: On exploring DLTs and fintech and the never-ending ‘need for speed’

Depending on where you stand, these are either challenging or exciting times for banks with the emergence of blockchain technologies. For the Bank of England, a more than 300-year-old institution, it can certainly be seen as the latter.

Mark Carney, governor of the Bank of England, gave a speech (pdf) on the theme of ‘new economy, new finance, new bank’ at the Mansion House dinner in June. Carney spoke of the potentially ‘immense’ future of the new UK economy, with...

Continental, Commerzbank and Siemens team up for blockchain initiative

Continental, Commerzbank and Siemens came recently together to test blockchain technology in the financial market. The aim of this project was to practically test the blockchain technology so that it can be used for regular financial transactions.

In the trial – which covered a volume of €100,000 for a term of three days – Continental was the issuer of the money market security that was established under the Luxembourg law, on the basis of legal requirements in the form of a...

IBM and Santander announce five-year global agreement focusing on blockchain and big data

IBM and Spanish commercial bank Banco Santander have announced a five-year global technology agreement which focuses on blockchain and big data technologies.

The agreement, which is valued at around £547 million, will help Santander Group to evolve towards the open, flexible and modern IT environment it requires to materialise the important role that technology and digital capabilities play in the company’s business strategy.

With IBM’s technologies such as AI,...

ING Bank secures five-year deal to access R3’s Corda blockchain platform

Dutch multinational banking and financial services corporation ING has signed a five-year licencing contract with New York-based distributed database tech firm R3, wherein the former will have access to the latter’s commercial blockchain platform Corda.

As part of the agreement, the Dutch banking giant will acquire unlimited licences for the Corda Enterprise platform, with an aim to use Corda’s decentralised applications (CorDapps) across its global business infrastructure....

How blockchain has the potential to disrupt healthcare, banking, insurance and more [infographic]

The potential of blockchain technologies in industries such as healthcare, banking and logistics have been evident for some time. Only last week, Vitalik Buterin, co-founder of Ethereum, put together a tweetstorm which focused on non-financial use cases becoming ‘a bigger and bigger part of the story.’ Take healthcare as an example. The IEEE, the arbiter of various technology standards, has a project called The Pharma Blockchain Initiative which, as this publication put it back in...

BBVA and Siemens join blockchain platforms to promote the technology in banking and energy sectors

The European Commission (EC) has organised a blockchain forum in Brussels and BBVA is one of the one of the first five banks to be invited to join the forum’s launch of the International Association for Trusted Blockchain Applications (IATBA), a European platform to promote the use of blockchain. In order to not miss out on the trend, the EC has called representatives from public institutions, governments, and the private sector in the conference ‘Uniting EU Industries to lead blockchain...