Hello everyone! Read today’s digest and stay up to date with the latest news.
Mediterranean European Union countries sign declaration to promote blockchain
France, Italy, Spain, Malta, Cyprus, Portugal and Spain formed a group called the “Mediterranean Seven” and signed a declaration, titled the “Southern European Countries Ministerial Declaration on Distributed Ledger Technologies,” to foster the use of blockchain beyond cryptocurrencies.
We believe that Distributed Ledger Technologies could be one of the instruments that can help our countries transform their economies and society into truly digital ones and become a leading region in this sector.
Bitcoin Scams: Singaporeans losing thousands of dollars to crypto fraudsters
Singapore residents have fallen victim to some online Bitcoin scams, which came in the form on paid online ads and had pictures of famous Singaporean celebrities and personalities, in a couple of months, losing up to $78,000.
According to the police, these online cryptocurrency scam sites are foreign and do not have permission from the Monetary Authority of Singapore.
Abu Dhabi global market concludes first phase of blockchain-based KYC project
An international financial free zone within the capital of the United Arab Emirates has concluded the first phase of its blockchain-based Know Your Customer utility project. The Abu Dhabi Global Market’s regulatory body, the Financial Services Regulatory Authority along with Big Four audit firm KPMG have published a review of the project’s “successful” first phase in order to provide key takeaways for members of the financial industry.
As the review outlines, the use of cryptography and digital signatures, among other features, can contribute toward a secure, unified, and convenient system for upholding robust KYC standards across the industry.
R3 announces global payment app with XRP as base currency
R3 has unveiled a new app, called Corda Settler, on their international blockchain, a global payment platform that uses Ripple’s XRP as its initial base currency. The app continues R3’s track record for pursuing ambitious blockchain projects, and it is allegedly “purpose-built to allow for payment obligations raised on the Corda blockchain platform to be made through any of the world’s payment systems, both traditional and blockchain-based.”
The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together.
Ripple, NEM & two others launch ‘blockchain for Europe’ association
Four major blockchain companies have formed a “Blockchain for Europe” Association. The association seeks to promote the understanding and proactive regulation of blockchain and other distributed ledger technologies across the continent.
The four participant companies are Ripple, the NEM Foundation, Emurgo – which supports commercial ventures based on the Cardano blockchain – and “smart ledger” development firm Fetch.AI.
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