Blockchain 

Boeing Joins IBM on Hedera Hashgraph’s Governing Council

Major global aerospace manufacturer Boeing has reportedly joined the governing council of enterprise-focused decentralized network Hedera Hashgraph. Ten members so far The American aircraft giant is the 10th firm in the list of Hedera’s governing council members, including tech giant IBM, Japanese financial holding company Nomura Holdings, Indian telecom Tata Communications and financial services firm FIS Global, Coindesk reported on Aug. 29.  According to the report, Boeing has not officially confirmed the news. On Hedera’s council, each member runs its own node via hashgraph — a patented algorithm claiming to…

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Blockchain 

IBM and Tata Become Governing Council ‘Owners’ of Hedera DLT Platform

Public distributed ledger Hedera Hashgraph has announced that IBM and Tata Communications have joined its governing council. In a news release on Aug. 12, the platform described the addition of the two firms as a “powerful endorsement” of its hashgraph consensus mechanism. “Diverse array” of council members Mance Harmon, the CEO of Hedera Hashgraph, said IBM and Tata Communications’ presence further decentralizes the platform’s governance, adding: “Our governance model, which includes a robust system of checks and balances, ensures power can’t be consolidated, while at the same time providing a…

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Bitcoin 

Riviera Beach City Council Agrees to Pay $600,000 in BTC to Ransomware Attackers

The city council of Riviera Beach, Florida has agreed to pay nearly $600,000 worth of Bitcoin (BTC) to regain access to data encrypted in a hacker attack, the New York Times reported on June 19. On May 29, the city experienced “a data security event” when a police department employee opened an allegedly infected email attachment, which eventually resulted in the online system breakdown. The hackers allegedly encrypted government records, blocking access to critical information and leaving the city without an ability to accept utility payments other than in person…

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Blockchain 

Taiwanese Development Council to Form Blockchain Alliance in Three Months

The National Development Council (NDC) of Taiwan announced today that it will launch a blockchain alliance in three months, English-language local media Taiwan News reported on March 26. The NDC is the policy-related agency of Taiwan’s executive branch of government, known as the Executive Yuan. Per the report, Minister Chen Mei-ling told the Smart City Summit & Expo in Taipei that the NDC has already consulted other government departments, experts and academics in order to determine the purpose of the alliance. Mei-ling reportedly expressed the hope that Taiwan may become…

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Bitcoin 

Swiss Federal Council Initiates Blockchain Law Consultation Period

The Swiss Federal Council has started its consultation period on the adaptation of federal law for blockchain development, according to an official press release published on March 22. By initiating the consultation, the Federal Council intends to improve legal certainty over blockchain applications in order to build a basis for regulatory framework for the industry in Switzerland, particularly in the financial sector. According to the document, the Federal Council’s consultation will last until the end of June 2019. In mid-December 2018, the Swiss Federal Council adopted a report on the…

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Blockchain 

WEF Appoints BitPesa Founder as Co-Chair of Global Council on Blockchain

The World Economic Forum (WEF) has appointed the CEO and founder of BitPesa, Elizabeth Rossiello, to serve as one of two co-chairs of the Global Blockchain Council, according to a press release published Jan. 24. At the WEF Annual Meeting 2019 in Davos, Switzerland this week, Rossiello is reportedly working with both industry experts and the Council’s thirty members — spanning ministers and heads of regulatory agencies, CEOs and representatives from the civil and technological spheres — to determine the agenda and foremost priorities for the Council. The work following…

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Blockchain 

Advisory Council of UAE Banks Federation Considers Adoption of Blockchain in Banks

The Advisory Council of the United Arab Emirates Banks Federation (UBF) discussed applying blockchain in its member banks, according to the Dubai-based English language newspaper Gulf News on Dec. 17. The Advisory Council of UBF, a non-profit organization representing 50 member banks in the country, considered using blockchain to improve Know Your Customer (KYC) processes at entrant banks. UBF’s chairman, Abdul Aziz Al Ghurair, claimed that the discussed initiative represents an effort to create and maintain a “thriving banking ecosystem.” Participants also discussed issues pertaining to the country’s national digital…

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