Top 5 news of the blockchain industry

Greetings, friends! A selection of news for those who want to stay abreast of the latest events of the crypto and blockchain world!

Banks across 27 Countries hop on R3 blockchain pilot

Enterprise blockchain software firm R3 and over 50 banks and corporates successfully tested sending transaction confirmations across 27 countries spanning six continents. The historic feat was made possible through the platform Voltron which is built on R3’s Corda blockchain. The global trial included several high-profile banks including Standard Chartered Bank, Alfa Bank, CIB, CommerzBank, Commercial Bank of Qatar, National Bank of Egypt, RBI, Société Générale and The Saudi British Bank.

Traditional trade finance processes are largely paper-based, time-consuming and prone to risk. According to a survey of trial participants, 86% of firms believe such inefficiencies are increasingly becoming ‘intolerable’ for both corporates and banks. As a result, 61% said they are likely to move trade flows to ‘open account’, a far more risky option for exporters.

Crypto ads on Facebook

Facebook announced that since June 2018 it has been listening to “feedback”, and that while those wishing to run ads that promote cryptocurrencies still need pre-approval, it was no longer demanding pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency. It also said that it will continue to ban ads for initial coin offerings (ICOs) as well as ads for binary options.

Facebook was recruiting dozens of financial firms and online merchants to help launch a cryptocurrency-based payments system, and that the core part of this initiative (code-named “Project Libra”) is a digital coin that its users could send to each other and use to make purchases both on Facebook and across the internet.

Bitcoin price

The bitcoin price has increased by more than five percent in the past 24 hours from around $5,800 to $6,098, breaking out of the $6,000 resistance level for the first time in 2019.

That said, if we can break $6200 for BTC, it will likely mark the start of another major bull run and could run hot and high, but if it’s pure speculation and other assets benefit disproportionately to value created, it’s likely not going to end well again!

Belarussian exchange to offer tokenized government bonds

The global exchange website has announced that it will be offering a tokenized form of Belarussian government bonds. Users can now use fiat money or cryptocurrencies bitcoin and ether to invest in and trade Belarussian government bonds. Belarussian-based company Currency Com Bel LLC is reportedly the first organization to tokenize government bonds.

All this was made possible by the progressive Decree No. 8 ‘On the Development of a Digital Economy’ that was ratified in Belarus in 2018, affirming the country’s commitment to playing a big role in the next chapter of the technological revolution.

Major crypto traders meet to establish industry standards

A group major cryptocurrency traders is considering the idea of creating a blacklist of counterparties engaged in nefarious activities in the crypto space. At a meeting in Chicago, a group of traders from 35 digital assets firms including such industry players as trading firm DRW Holdings Inc.’s Cumberland crypto unit, Mike Novogratz’s Galaxy Digital Holdings, and tech startup Ripple proposed to create a blacklist for parties who reneged on trades and engaged in dubious activities.

A community-wide effort to improve compliance standards would prevent liabilities that might stem from trading with bad actors or dealers that trade with bad actors. A self-governance initiative like this is also something that regulators are keen to see.

Thank you for attention! Good luck!

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