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31 Chinese FI’s form blockchain consortium
Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech. The Financial Blockchain Shenzhen Consortium was officially launched on 31st May during an event in Shenzhen, a [...]
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Euroclear and itBit collaborate on blockchain solution for gold
Euroclear and itBit, a financial services company delivering blockchain services for capital markets, announced their collaboration to explore opportunities in creating a next generation settlement service for the London gold market. The settlement of unallocated gold is a very capital-intensive process. Euroclear and itBit are working with relevant market participants to develop a service to [...]
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US regulators condemn bitcoin as financial stability risk
US regulators have warned that the growing popularity of bitcoin and other digital currencies is posing potential financial stability risks as it revealed they are being put under closer scrutiny. A group that includes the Treasury department, the Federal Reserve and the Securities and Exchange Commission used an annual report on the biggest threats to [...]
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London to go cashless in 20 years as it embraces FinTech
A FinTech based UK could become a cashless society within 20 years according to research published by London & Partners, the Mayor of London’s promotional company, to coincide with London Technology Week 2016. A survey of more than 2,000 consumers shows that 68% believe that cashless technologies will completely replace physical money by 2036. The figure is [...]
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Bank of Canada initiates blockchain technology exploration
The Bank of Canada has revealed it is studying the technology underlying the digital currency bitcoin, conducting one of the first known tests by a major central bank about how it could use the system known as blockchain. The central bank confirmed the experiment dealing in interbank payments in a statement from Senior Deputy Gov. Carolyn [...]
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