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Public Statement Aims to Define Legal Status of Crypto Assets in the UK

The United Kingdom Jurisdiction Taskforce of the Lawtech Delivery Panel published a statement concerning the status of cryptocurrencies, distributed ledger technology (DLT) and smart contracts under English and Welsh private law. U.K. entrepreneur network Tech Nation announced the paper’s publication on Nov. 18. The document attempts to address the legal uncertainties of cryptocurrency and recognizes crypto assets as tradeable property and smart contracts as enforceable agreements under local law. The importance of regulating blockchain Lawtech …

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Chinese Forex Regulator SAFE Expands Blockchain Cross-Border Pilot

Chinese regulator State Administration of Foreign Exchange (SAFE) expanded its blockchain cross-border financing pilot program. Local news outlet GlobalTimes reported on Nov. 11 that the system now covers 19 provinces and cities, up from nine. The development is unsurprising given that at the end of October SAFE deputy head Lu Lei said that there are plans to use blockchain and AI in cross border financing with particular attention devoted to risk management applications. “No space …

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Deutsche Boerse, Commerzbank Settle Tokenized Securities Using DLT

German securities marketplace Deutsche Boerse and Commerzbank have completed a joint pilot transaction settlement of post-trade securities using digital tokens and distributed ledger technology (DLT). Tokens generated from both commercial bank money and securities  While the transaction also involved major German asset manager MEAG, which operates under Munich Re-owned ERGO Group, one of the largest German insurance companies, Deutsche Boerse officially announced on Oct. 23. Meanwhile, the underlying technology and the legal concept were jointly …

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University of Malta Introduces Blockchain and DLT Master’s Degree

A master’s degree in blockchain and Distributed Ledger Technology (DLT) is now attainable at the University of Malta. Fintech-focused news outlet CrowdfundInsider reported on the creation of the new master’s degree on Oct. 21, also noting that about 35 students are enrolled for the course.  Joshua Ellul, director of the master’s program and chairman of Malta Digital Innovation Authority, said during Malta’s DELTA Summit on Oct. 3 that 15 companies have already contacted the students …

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Blockchain Adoption as a Cure for Cross-Border Trading

In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed …

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TruTrace Partners With Deloitte to Track Cannabis Using Blockchain

Blockchain tracking startup TruTrace Technologies Inc. partnered with Big Four auditing firm Deloitte to track cannabis using blockchain technology. Investing news outlet ProactiveInvestors reported on Sept. 4 that TruTrace is launching its StrainSecure product in partnership with Deloitte. The system in question reportedly employs blockchain technology to track cannabis from seed to sale, in order to guarantee that customers and retailers know the history of the product. TruTrace CEO Robert Galarza said that the new …

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Indian IT Giant Tech Mahindra to Launch Blockchain Finance Management

Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, partnered with American distributed ledger technology (DLT) firm Adjoint to launch a blockchain financial management and insurance solution. Telecommunications industry news outlet CommsMEA reported on Sept. 2 that the solution is the first of its kind. With this service, clients will reportedly be able to save $4 million for every $1 billion of financial risk management and banking relationships. Auditable data recording Per the report, …

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US Firm Raises $12M for Bank-Focused Blockchain Payments Solution

California-based blockchain development firm Baton Systems has closed a $12 million Series A funding round led by Trinity Ventures. According to a Ledger Insights report published Sept. 2, the new funding will be used to scale Baton Systems’ blockchain-powered bank-to-bank payment solution.  Interoperability with legacy systems Baton Systems has reported that it already processes over $13 billion in payments implementing its solution for market participants and clearinghouse counterparties. The firm’s blockchain platform is designed to …

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India’s Kerala Blockchain Academy Partners with R3 for Dev Education

The Kerala Blockchain Academy (KBA), a government initiative under the Indian Institute of Information Technology and Management, is now a general partner of R3. Local news outlet The Economic Times reported on Aug. 27 that New York-based enterprise blockchain firm R3 chose the KBA as a general partner. According to the article’s author, the academy already designed a developer certification program on the firm’s Corda blockchain, meant for banking and technology professionals. Governmental blockchain education …

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