Spanish banking group BBVA has released a new research note on the subject of bitcoin and blockchain regulation. Published on 2nd January, the note opines on the current state of regulation, arguing that rules for private blockchain use cases lag behind guidance for bitcoin – the digital currency it called the one blockchain application “in practical operation”. The document’s author, BBVA digital regulation manager Javier Sebastián, contends that regulation will be needed to oversee enterprise blockchain use cases. However, he acknowledged that the current “exploratory phase” the technology is in makes this difficult to address. Overall, the note argues for more immediate action to clarify issues that could hold back the launch of…
Deloitte’s Netherlands branch is working with the city of Rotterdam to create a prototype for recording lease contracts on a blockchain. In conjunction with the Cambridge Innovation Center (a real estate services firm based in the US), the project will focus on developing a platform for managing housing transactions. The area is one being explored by several startups, with the Rotterdam trial representing the latest effort to bridge the real estate industry and blockchain. The first part of the process involved building a mechanism for recording lease agreements. From there, those involved with the project say, testing will move to payments for real estate transactions in conjunction with the agreement recording tool. Jan Willem Santing, a manager of real…
Fintech, fueled by cryptocurrencies and blockchain technology is one of the promising segments at the moment. The scenario in the European financial technology sector has become competitive in the recent days as the EU countries are trying to fill the soon to be created void following London’s departure from EU. The country of Scotland is currently in a unique position as it decides whether to stick with the United Kingdom or severe ties to remain in the European Union. Scotland is not new to financial technology or cryptocurrencies. In the current situation, the country has started to channel its attention and resources towards fostering a robust fintech ecosystem. Known for its industrial excellence when it comes to steel, petroleum, shipbuilding and…
Asia is an emerging economic power, thanks to the growth of some of the major countries in the continent. Staying true to its economic progress, the continent is also turning out to be an attractive market for the fintech industry. According to a recent report published by KPMG – one of the “big four” audit firms in the world, the Asian continent was the largest recipient of venture capital in the fintech and cryptocurrency technology sector during the third quarter of this year. The report also mentions a significant fall in the total venture funding received by the fintech sector during the previous quarter. The total volume of funds received by the industry sector was found to be less than half of what it received during the same period last year. Out of…
Swiss Parliament member Franz Grüter could hardly be happier that his proposal for new blockchain regulations has been shot down. For months, he resisted the government’s requests to kill his motion, which would have changed the definition of a bank to make it easier for cryptocurrency companies to open in Switzerland. “We got this,” was the gist of what they told him. “Thanks, but no thanks.” But Grüter, who was elected to represent the Lucerne region of Switzerland a year ago, remained skeptical. “The reason I was frustrated was that I didn’t believe how bureaucracies work, how bureaucracy works in governments,” Grüter told CoinDesk. “I was not expecting that they would really say what they were writing. So,…