by Florin Oprea
Peter Smith – Financial Times (subscription)
A Paris-based asset manager has launched Europe’s first bitcoin mutual fund in a move intended to draw institutional investor interest in the volatile cryptocurrency that has surged from $1,000 to more than $8,300 this year. The unregulated Tobam bitcoin fund comes ahead of the Chicago Mercantile Exchange’s plans to start listing bitcoin futures with a centralised clearing mechanism.
DNT: Interesting move, even if it comes from a small asset manager. Cryptocurrencies race to go mainstream continues. Step by step, more and more institutional investors will be a part of Cryptoverse and we are looking forward the launch of Bitcoin Futures at CME, first reported here in Fans’ Section.
Michael del Castillo – CoinDesk
A subsidiary of global banking giant Intesa Sanpaolo is taking steps to reimagine what the $1.2 quadrillion derivatives market might one day look like on a public blockchain. In a new white paper Banca IMI details how an ethereum smart contract built by Intesa Innovation, Banca IMI and blockchain startup Oraclize makes it impossible for any counterparty to default by anticipating eventualities that might otherwise result from a legal dispute.
Michael del Castillo – CoinDesk
Blockchain startup Nivaura has initiated its first bond denominated exclusively in ether.
Built under the regulatory oversight of Britain’s Financial Conduct Authority the first-of-its-kind instrument was issued by London-based luxury retail startup LuxDeco and created with the help of industry leaders to give the company a new way to raise capital for short-term seasonal demand.
Fintech is fast revolutionizing the banking industry but digital currencies will not replace physical money any time soon, Hiromi Yamaoka, head of the BOJ’s payment and settlement systems department, said.
Hiromi Yamaoka: “It’s too far off” ..“It would change the banking system too drastically.”
DNT: However, Japan is a leading country in blockchain and cryptos adoption! BTC is a legal tender and several companies were recognized by Japan’s Financial Services Agency as registered cryptocurrency exchange operators (read here) -.Exchanges & Trading Venues section. A smart move that attracted traders from China. So, I think that what BOJ official has said is not a “Jamie Dimon type of attitude”, but rather a result of an effective analysis In fact, referring to blockchain and DLT technology Hiromi Yamaoka stated, that ““From a practical perspective, I think this is still ‘under construction’’”. So, this means they embrace it and working to develop it. Japan still has my entire credit.
Nikhilesh De – CoinDesk
The initial version of the Casper proof-of-stake protocol upgrade from Ethereum developer Vlad Zamfir has been released. The code aims to fundamentally rework how blocks are created and propagated on the ethereum network. It’s actually one of two simultaneous bids to develop code for Casper, with the other arm being spearheaded by network creator Vitalik Buterin.
Samantha Hurst – Crowdfund Insider
Quoine announced it listed Qash for trading on global exchanges Quoinex and Qryptos. This news comes after Quoine’s ICO, also known as the Qash Token Sale, recently oversubscribed. The company claimed the ICO is considered one of the most successful blockchain fintech ICOs globally, with 350 million Qash raised.
DNT: Qash Token Sale was indeed a “boost” with $105m raised from people in 98 countries! More details about the it – here, Deals, Investments & M&As section.
JP Buntinx – The Merkle
The Waves developers have been working on a massive “speed boost” for their blockchain. The goal is to process thousands of transactions per minute, which would certainly elevate this project to new heights. Known as Waves-NG, this next generation technology will increase effective bandwidth and speed of block creation.
DNT: This looks like an efficient working solution for any decentralized blockchain. Let’s see when this protocol change will be introduced. No details have been provided yet.
The Australian – (subscription)
The countdown is well under way to the Australian Securities Exchange’s assessment of blockchain as a successor to the ageing CHESS system for clearing and settlement. Either way, the decision — due before the end of the year.
Nathaniel Popper – The New York Times
Aziz Abdel-Qader – Finance Magnates
Raiffeisen Bank International became the first Austrian bank to join enterprise software firm R3’s global network of more than 160 banks, financial services firms, technology companies, central banks, regulators and trade associations.
Mike Butcher – TechCrunch
Jibrel Network, a company registered in the so-called “crypto-valley” of the Swiss canton of Zug, specializes in blockchain implementations for banks and so-called ‘Non-Bank Financial Institutions’ launched the jWallet, a product aimed at consumers which, the company says, can store financial assets such as currencies, commodities, bonds and equities, on the Ethereum blockchain. jWallet holds no user data and all keys are stored locally.
Sujha Sundararajan – CoinDesk
Regulators in the Philippines are considering new rules for cryptocurrency exchanges and ICOs. The country’s SEC commissioner Emilio Aquino said that his agency could class ICO offerings as “possible securities” under the Securities Regulation Code. According to Aquino, the move is in line with regulations passed by the U.S. SEC, and other regulators in Malaysia, Hong Kong and Thailand. Recognizing the growing popularity of the blockchain funding use case, he said regulators were eyeing rules to protect consumers.
Bernard Marr – Forbes
Blockchain-focused financial services startups raised $240 million in venture funding during the first half of the year. However, its potential was beginning to be recognized across other sectors and industries. 2018 is likely to see a continuation of this trend of innovation and disruption. Here are the five key ways this is likely to happen.
DNT: Because 2018 is approaching, we choose this story that underlines the potential for blockchain technology to bring about widespread change in the world of finance.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News