Blockchain 

E-Commerce Giant Alibaba to Integrate Blockchain Into Intellectual Property System

Chinese e-commerce giant Alibaba will integrate blockchain technology into its intellectual property system of global enterprises and brands, local news outlet Sohu reported on May 23. Ali Xizhi, the company’s director of intellectual property protection, reportedly said that Alibaba is in the process of upgrading the filing of intellectual property rights by utilizing blockchain. Alibaba is planning to fully implement the technology in September, after which it will be expanded to digital copyright protection, including visual content. The system will purportedly allow electronic deposits from international brands to directly link…

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Blockchain 

Toyota, UTokyo and Trende to Test Blockchain-Based Electricity Trading System

The University of Tokyo, Japanese car manufacturer Toyota Motor Corporation and Japanese online renewable energy retailer Trende Inc. plan to jointly conduct tests for a blockchain-powered electricity system. The news was revealed in an official Toyota press release on May 23. The pilot, scheduled for June 17, will reportedly test a peer-to-peer electricity system that allows homes, enterprises and electronic vehicles that are connected to the power grid to trade electricity using blockchain. The initiative will reportedly be focused on Toyota’s Higashifuji Technical Center and the surrounding area. As the…

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Blockchain 

UK-Based Global Funds Network Calastone Switches Entire System to Blockchain

London-based global funds network Calastone announced that it switched its entire system for fund trade clearing services to its blockchain Distributed Market Infrastructure (DMI) in a press release published on May 20. Per the release, the migration of the company’s over 1,800 customers over 41 markets “represents the largest community of global financial services organisations connecting and transacting via distributed ledger technology.” In the announcement, the institution also forecasts that the resulting savings for the mutual funds market will amount to over £3.4 billion per year ($4.33 billion). The release…

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Blockchain 

Coin Metrics Report Highlights Discrepancies in Ripple’s Escrow System Reporting

Blockchain analysis company Coin Metrics has found discrepancies in blockchain payments network Ripple’s escrow system reporting, according to a May 16 report. Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, investigated Ripple and discovered what it said were contradictions that required an explanation. “Coin Metrics found several important discrepancies between what was publicly reported by Ripple and what was visible on the XRP ledger,” the report summarized. The three aspects are the following: “Two quarterly markets reports under-reported the number of XRP released from escrow by a…

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Blockchain 

Fintech Firm Billion Seals $2.1 Mln European Commission Grant for Blockchain System

Polish-British fintech firm Billon has reportedly sealed an almost €2 million (~$2.1 million) grant from European Commission’s Small and Medium-Sized Enterprises (SME) Instrument program to develop a blockchain document management system. The news was reported by Billion in a press release on May 14. The Commission’s SME Instrument program provides funding for innovation projects which are close-to-market, and has reportedly awarded Billon a grant under Phase 2 of the program — which provides enterprises with up to 70% of the costs of their proposed project. Billon’s system, dubbed B4TDM (Blockchain…

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Bitcoin 

Binance to Undergo System Upgrade Tomorrow, Deposits, Withdrawals, Trading to Be Halted

Major crypto exchange Binance plans to undertake a scheduled system upgrade tomorrow that will prevent deposits, withdrawals, and trading for roughly six to eight hours, according to an official announcement published on May 14. Yesterday, the exchange’s CEO, Changpeng Zhao (CZ), had announced that the platform was planning to fully resume deposits and withdrawals today, which had been suspended in the wake of a major hack of the platform on May 7. The breach resulted in the theft of around 7,070 bitcoin (BTC) from the exchange’s hot wallets — worth…

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Blockchain 

Malta’s Registry of Companies Set to Run on Blockchain-Based System

Malta’s Registry of Companies is going to be run on a blockchain-powered system, local news outlet the Malta Independent reported on May 8. The Registry of Companies is a public registry holding official information and documentation pertaining to new and existing companies. The agency demerged from the Malta Financial Services Authority’s (MFSA) and established itself as a separate entity at the end of last year. According to the Malta Independent, the new agency will be run on a blockchain-based system. The establishment of a standalone agency aims to strengthen the…

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Blockchain 

Five Canadian Banks Employ SecureKey Blockchain System to Identify Users

Five Canadian banks will be employing a blockchain-based user identification system developed by tech startup SecureKey Technologies, Bloomberg reports on May 1. Per the report, the Verified.Me digital identity system is now available to clients of the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Desjardins Group. The service will soon be available to users of the services provided by the Bank of Montreal and National Bank of Canada as well, while Sun Life Financial will reportedly be the first North American…

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Bitcoin 

SeedInvest Gains FINRA Approval as Alternative Trading System a Month After Circle Buyout

SeedInvest, the equity crowdfunding platform owned by crypto-friendly payment giant Circle, has gained approval to offer secondary shares trading, crypto industry news outlet The Block reported on April 26. The platform, which Circle bought out for an undisclosed sum in March this year, can now allow its users to trade startup shares via its accreditation as an Alternative Trading System. The company got the go-ahead from the United States Financial Industry Regulatory Authority (FINRA), a month after gaining initial regulatory approval. At the time, Circle praised SeedInvest for its input…

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Blockchain 

British Virgin Islands, Blockchain Firm Develop Crypto Payments System for Emergency Aid

The British Virgin Islands — a United Kingdom Overseas Territory in the Carribean — has partnered with blockchain firm Lifelabs.io to launch an alternative crypto-enabled payments infrastructure for residents across its network of islands. The development was reported in a BVI government press release on April 18. The partnership notably heralds a particular focus on using a crypto infrastructure to support the reliable and swift transfer of aid and access to funds in emergency scenarios. The BVI government will implement Lifelabs’ blockchain Platform as a Service (PaaS), which reportedly reduces…

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