Blockchain could lift trade finance by $1.1T, benefiting SMEs & emerging markets

The use of distributed ledger technology (DLT) could lead to a $1T boost in trade finance available to small and medium-sized enterprises (SMEs) in emerging markets. That’s owed to its potential to mitigate credit risk, lower fees and remove barriers to trade, according to research by the World Economic Forum (WEF). The WEF’s head of supply chain and transport industry, Wolfgang Lehmacher, said that blockchain-based solutions “can eventually do more for SMEs in emerging markets than...

World’s first blockchain bond is launched by World Bank and CBA

The World Bank and Commonwealth Bank of Australia (CBA) have launched the world’s first bond created and managed using blockchain technology. Announcing the initiative early this month, the World Bank appointed CBA to lead the fund’s development on August 15, dubbing the prototype deal bond-i, standing for Blockchain Operated New Debt Instrument (and a pun on Sydney’s famous beach). Since then, the bond has outstripped initial estimates to raise $80.48m (£62m) for the World Bank....

South Korea to invest £700m into blockchain technologies by 2019

The South Korean government plans to invest one trillion won (£693m) into innovative technologies including blockchain and AI (artificial intelligence) by 2019. The figure, disclosed in a government release on Tuesday, would represent an 80% increase on similar spend this year, while the government said it would invest a further £6-£7.5bn in the same area within the next five years. The initiative forms part of the country’s five-trillion-won (£3.46bn) ‘Growth Innovation Plan’,...

The future of financial markets lies in tokenised securities

In 2015, Santander predicted blockchain technology would drive a $15-$20bn (£11.8-£15.7bn) reduction in banks’ annual infrastructure costs by 2022. Now, three years on, the first commercial blockchain projects are beginning to realise this prediction — especially in financial markets. The Australian Securities Exchange(ASX) became the one of the first global organisations to embrace distributed ledger tech: announcing plans late last year to replace its settlement system with a...

World Bank to launch first global blockchain bond for sustainable development

The World Bank has appointed the Commonwealth Bank of Australia (CBA) to lead the creation of the first bond built on Ethereum blockchain technology. Making the announcement last week, the World Bank said it would be “the first bond globally to be created, allocated, transferred and managed through its life cycle using distributed ledger technology”. Dubbed bond-i, an acronym for Blockchain Offered New Debt Instrument - and a nod to Sydney’s renowned tourist beach - the bond is...

IOST blockchain startup incubator Bluehill launches with $50 million fund

A blockchain startup incubator has launched today (June 21), having raised $50 million to support fledgling businesses working with IOST. Bluehill is headed up by Samantha Wang, IOST’s current CMO, and already boasts over 50 full-time staff across China, Korea, Singapore, US and Germany. It calls itself a “global network of talented individuals” established to support projects, DApp (decentralised application) development, and blockchain technology innovations. Launched in 2017,...

How blockchain can revolutionise the equity market

blockchain and the equity market

A financial health check It was back in January 2009, in the aftermath of the 2008 financial collapse, that blockchain first came to prominence as the underlying distributed ledger technology that powered the Bitcoin cryptocurrency. Since then, multiple global banks – including UBS, Goldman Sachs, and Morgan Stanley – have poured millions of pounds into blockchain technology in a desire to future proof their offerings. It’s not just the banks though that are showing interest and...

UNICEF looks to fund blockchain start-ups

UNICEF - Innovation Fund - Blockchain

UNICEF (United Nations Childrens Fund) has announced that it will be offering equity-free investments to blockchain start-ups as part of its Innovation Fund. Early stage finance of between $50 - $90 will be made available to those companies that have the “potential to benefit humanity”. To register, companies must be located in UNICEF’s list of programme countries and have a working, open-source prototype that fits the organisations specifications. The deadline for applications is...

SEC suspends trading of UBI blockchain

SEC suspends UBI Blockchain trading

The SEC has halted trading of shares of UBI Blockchain in part due to “unexplained market activity” stretching back a few months. The company joins Crypto Co. and several other companies that have been flagged by the SEC as having serious questions about the truth of their financial statements. UBI Blockchain is described by Bloomberg as “designing a suite of modular, self-contained, automated, and climate controlled units for distributed production of energy.” The company was...

Long Island Iced Tea Corp gets blockchain fever, changes company name, shares soar

Updated Jan 5 Here’s another interesting example of how judicious use of the word blockchain opens doors – and wallets. Shares in The Long Island Iced Tea Company shot up almost 200% two weeks ago after the firm issued a press release saying it was changing its parent company name to ‘Long Blockchain Corp.’ to recognise its shifting strategic focus. In the immediate aftermath of the announcement, the stock rose from $2.45 to $9.49, before settling to $6.91 by close of play. For...