Major Banks Pilot Successful Thailand-Singapore Blockchain Remittance

Join our community of 10 000 traders on Hacked.com for just $39 per month. A joint effort by major banks in south-east Asia has led to a successful blockchain-powered cross-border funds transfer in real-time from Thailand to Singapore. In an announcement on Tuesday, Thailand’s Bank of Ayudhya – commonly referred to as Krungsri – revealed a successful pilot test involving an international remittance from a domestic bank account to a Standard Chartered account in Singapore using its own blockchain, dubbed the Krungsri Blockchain Ledger. The endeavor involved major Japanese multinational…

South Carolina Issues Cease-And-Desist Order to Blockchain Startup for Statutes Violation

On May 21, blockchain startup ShipChain was issued a cease-and-desist order from the South Carolina Attorney General’s Office for violating the state’s securities statutes. According the official notice, the company continuously offered investment opportunities to residents of South Carolina on its platform through its corresponding tokens, both on its website and at in-person events in South Carolina. ShipChain was allegedly unregistered with the Securities Division of the Office of the Attorney General of the State of South Carolina as a broker-dealer. The order stated: “At no time relevant to the…

Bitcoin Price Struggles After Blockchain Week, Possible New Regulatory Pressure

Cryptocurrencies continue to slow down today as all major coins are in the red on Tuesday. Bitcoin (BTC) is struggling for gains above $8,500 following concerns over increased regulation according to Naeem Aslam, chief market analyst at Think Markets: “The recent selloff has come from the news out of China that the ICO [initial coin offering] market is still very active and there are fears that China will further increase the strict regulation.” In a report issued by China’s Ministry of Industry and Information Technology, the government reiterated its position…

Legislators Launch Parliamentary Blockchain Alliance to Promote Industry Growth

Taiwanese legislators have formed a parliamentary blockchain group to promote the development of the industry, according to a Facebook announcement by MP and legislator Jason Hsu Yu-Jen today, May 22. The new Taiwan Parliamentary Coalition for Blockchain (TPCB), headed by Hsu, hopes to achieve cross-party consensus among Taiwanese politicians to decide on a clear, “friendly” and robust regulatory framework for the blockchain sector and cryptocurrencies. A joint founding ceremony was held yesterday in Taipei for both TCPB and a newly established Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO), whose members will…

Australia’s Prime Minister Ordered Blockchain Research Push, Gov’t Agency Says

Australia’s $530,000 blockchain research push this year came as a result of a specific request by Prime Minister Malcolm Turnbull, reports reveal Tuesday, May 22. According to local news outlet ITNews, which quotes government officials, Turnbull had explicitly asked the country’s Digital Transformation Agency (DTA) – a body tasked with bringing government services into the digital age – to study blockchain. “The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this…

Mitsubishi, MUFG Conduct Successful Pilot Payment With Major Thai Bank’s Blockchain

Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22. The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank. The test involved sending money in a period of seconds from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary, using Kungsri’s Interledger tech. Thakorn Piyapan, head…

Australian PM Turnbull Tells Government Agency to Study Blockchain

Join our community of 10 000 traders on Hacked.com for just $39 per month. Australian prime minister Malcolm Turnbull, the country’s most powerful political official, has directed the government’s Digital Transformation Agency (DTA) to study potential applications of blockchain technology across government. Addressing a Senate Estimates committee on Monday night, DTA chief digital officer Peter Alexander revealed that PM Turnbull directly told the agency to explore blockchain applications after interest in the technology from other agencies and vendors, Australian publication ITNews reported. The DTA is a government agency established in…

Australia Plans Blockchain Prototype to Deliver Welfare Payments in 2019

Join our community of 10 000 traders on Hacked.com for just $39 per month. The Australian government’s digitization agency has revealed plans to explore the implementation of blockchain technology in delivering social security welfare payments to citizens. Speaking at a conference in Sydney last week, Digital Transformation Agency (DTA) chief executive Randall Brugeaud underlined welfare payment delivery as an early use case for its blockchain implementation effort. The DTA was established in 2015, part of the government’s broad digitization agenda that tasks the agency to engage other government bodies and…

Blockchain Streaming Platform To Host Hearthstone Tournament Within Days

A company billing itself as “the world’s first decentralized streaming platform for gamers and esports fans” is preparing to host a virtual Hearthstone tournament within the coming days. Play2Live says this is the first-ever Hearthstone contest to be powered by blockchain technology, as well as the “next generation of streaming interactivity” that its platform provides. Eight players have been invited for the tournament, including professional players and popular streamers. The quarter finals kick off at 12am GMT on May 23, followed by the lower bracket finals and semi-finals on May…

Japan’s Largest Bank and Cloud Delivery Giant Akamai Announce Blockchain Payment Network

The Mitsubishi UFJ Financial Group (MUFG) has partnered with major U.S.-based cloud delivery platform Akamai Technologies to release a global payment network based on blockchain, Cointelegraph Japan reports today, May 21. Akamai, a Massachusetts-based firm, was able to test the blockchain platform “under realistic business conditions,” showing a capability for processing a million transactions per second and a capacity for finalizing transactions in under two seconds, according to MUFG’s official press release. Tokyo-based MUFG’s and Akamai’s payment network, which will go live starting in the 2018 fiscal year, will include…