Blockchain 

Facebook Secures Support From Dozens of New Firms for Its Crypto Project

Social media platform Facebook has reportedly secured support from dozens of players in the cryptocurrency and blockchain sector for its forthcoming digital currency. The overall roster was announced by technology-focused media outlet the Block on June 14. Earlier today, news broke that Facebook has allegedly sealed backing from over a dozen firms that include Visa, Mastercard, PayPal and Uber for its soon-to-be-unveiled cryptocurrency project, dubbed “Libra.” Together, these investors form the Libra Association. The materials cited by the Block indicate that the consortium formed to govern the project will also…

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Blockchain 

Facebook’s Crypto Project Will Be A Milestone According to RBC

Global investment bank RBC Capital Markets believes that Facebook’s upcoming crypto project will be a major milestone in the firm’s history, CNBC reports June 14. In a note to investors, RBC Capital analysts Mark Mahaney and Zachary Schwartzman reportedly said that Facebook’s long-rumored stablecoin project “may prove to be one of the most important initiatives in the history of the company.” A part of the Royal Bank of Canada (RBC), RBC Capital predicted that the social media giant’s cryptocurrency project will “unlock new engagement and revenue streams.” According to the…

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Bitcoin 

Former US Senator Rick Santorum Joins Catholic-Focused Cryptocurrency Project

Former United States Senator Rick Santorum has joined the board of a Catholic community-oriented cryptocurrency project, according to a press release published on June 4. The former senator and Republican presidential nominee is now a board member of the Catholic community-oriented cryptocurrency project dubbed Cathio. The platform is designed to address the needs of the Catholic economy by ensuring lower costs, greater transaction visibility, and improved security for the community. Santorum was a noted cultural conservative in U.S. politics, who strongly opposed abortion and same-sex marriage on his failed presidential…

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Blockchain 

USC Project Seeks to Disrupt Traditional Wholesale Banking

On June 3, the Utility Settlement Coin (USC) project, one of the most ambitious crypto-based initiatives in mainstream finance, announced that it had taken the next step in its progression: the creation of a new company called Fnality International and the completion of a 50 million British pound ($63.2 million) Series A financing round. The momentum for USC has been growing since 2015, when the initiative was launched by financial giants UBS, BNY Mellon, NEX, Santander and Deutsche Bank, along with blockchain startup Clearmatics. It’s important to note that USC…

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Blockchain 

Over 100 Staff Now Reportedly Working On Facebook’s Crypto Project

More details are now emerging regarding high-level executives for social media giant Facebook’s crypto project, according to a report by CNBC on June 6. According to the report, there are now 100 people known to be working on the crypto project via profiles on professional networking platform LinkedIn. Facebook is also reportedly not done hiring, with over 40 openings still available in the team’s business unit, as per its website listing. The aim of Facebook’s new crypto project, according to advertising on its career descriptions, is to provide a public…

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Blockchain 

Blockchains Acquires Development Firm Behind ‘The DAO’ Project

United States-based blockchain incubator and investment firm Blockchains, LLC, has acquired the German Ethereum dev team slock.it, according to a press release on June 3. Slock.it’s team is reportedly around three dozen large, and is known for its creation of the now-defunct decentralized autonomous organization (DAO) project “The DAO.” Co-founders and brothers Christoph and Simon Jentzsch will reportedly join Blockchains as VP of technology and director of blockchain development, respectively. During the first few months of the acquisition, the newly-linked organizations will reportedly ship a line of open-source tools for…

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Blockchain 

Walmart Follows Pfizer in Joining Blockchain Pharmaceutical Project MediLedger: Report

Global retail giant Walmart is expanding its blockchain expertise by joining blockchain-powered pharmaceutical consortium MediLedger, industry media outlet CoinDesk reports on June 3. Walmart is reportedly planning to roll out a pilot project to track pharmaceutical products using MediLedger technology with the United States Food and Drug Administration in early June. By joining the consortium, Walmart has followed four major American pharmaceutical companies including Pfizer Inc., which joined MediLedger in early May, to collaborate on the development of a blockchain network for the health and pharmaceutical industry. Pfizer, along with…

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Blockchain 

Major Utility Settlement Coin Project Raises $63 Mln for Commercial Realization

The Utility Settlement Coin (USC) project — led by some of the world’s largest banks — has announced the creation of a new firm and closure of an accompanying £50 million ($63.2 million) Series A financing round. The news was revealed in a press release shared with Cointelegraph on June 3. As Cointelegraph has previously reported, the USC platform aims to facilitate the issuance of blockchain-based currencies in the commercial and central banking sector worldwide. According to today’s press release, USC project partners have now become the founding shareholders in…

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Blockchain 

Blockchain Project for National Archives Reports Successful Trial for Audio-Visual Content

A blockchain project developed to safeguard the integrity and accessibility of digital government records of national archives worldwide will soon present the results of a successful trial deployment in the United Kingdom, Estonia and Norway. The news was revealed in an official press release published on May 29. The project, named ARCHANGEL, involves the U.K. National Archives, the University of Surrey and the U.K. Open Data Institute, with funding from the The Engineering and Physical Sciences Research Council (EPSRC). Its trial deployment in the U.K., Estonia and Norway focused on…

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Blockchain 

Indonesia to Improve Its Shipping Industry With New Multi-Million Blockchain Project

Singapore-based blockchain firm PLMP Fintech will participate in a multi-million logistics project in partnership with the government of Indonesia, according to a press release on May 29. The new initiative is made in partnership with the Ministry of Trade of Indonesia and intends to transform the country’s shipping industry starting from the Riau Province, which is located on one of the world’s busiest shipping lanes. The project is a result of a new memorandum of understanding (MoU) signed between PLMP Fintech and major industry-related entities in the Indonesian city of…

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