Blockchain 

General Motors Leads $23M Funding Round for Spring Labs Blockchain Firm

United States-based blockchain startup Spring Labs has raised $23 million in a Seed A funding round, according to a press release on June 12. Spring Labs will purportedly use the funds to improve its blockchain-based platform Spring Protocol and develop three new fraud protection products that are designed to combat fraud in the auto financing sector. According to the press release, the new products are Spring Verify, Spring Defense, and Spring Protect, which are designed for identity verification, fraud monitoring/mitigation, and loan stacking prevention, respectively. The products will purportedly provide…

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Ethereum 

Legal & General Partners With Amazon to Use Blockchain for Pension Deals

Online retail giant Amazon has partnered with United Kingdom-based insurance agency Legal & General to create a blockchain system for managing corporate pension deals, according to a report by Reuters on June 11. Legal & General will reportedly make use of the Amazon Managed Blockchain for its bulk annuity transactions, which happen when companies transfer their pension schemes to Legal & General for insurance. According to an article by the Financial Times, companies make bulk annuity transactions to insurers like this so that they are not ultimately responsible for personally…

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Bitcoin 

Belarus General Prosecutor Warns About Cryptocurrency’s Use in Tax Evasion

Belarus’ general prosecutor has raised concerns about the role cryptocurrency could be playing in tax evasion, local daily news outlet TUT.by reported on June 4. Speaking as Belarus hosted the International Prosecutors Association’s regional conference, Aleksandr Konyuk said the time had come for all attendants’ authorities to study cryptocurrency use. Belarus had become one of the first countries in the area to create formal legislation around bitcoin (BTC) and other cryptocurrencies, declaring them legal in 2017. “The relevance of cybercrime is obvious,” he told the conference, which saw representation from…

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Blockchain 

Ex-NATO Secretary General Bullish on Blockchain as He Partners With Swiss Startup

Swiss blockchain identity network Concordium has hired former Danish prime minister and NATO secretary general Anders Fogh Rasmussen as a strategic advisor, the company confirmed in a press release on March 20. The Concordium Foundation, the controlling entity behind the Concordium Network that launched a proof of concept in January, aims to tackle blockchain deployment in certain fields with Rasmussen’s expertise. The former politician currently heads Rasmussen Global, a consultancy firm active in diverse fields including democracy, transatlantic relations and security policy. “Given the enormous scope and far-reaching potential of…

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