- World Bank Mandates Commonwealth Bank of Australia to Issue Bond Using Blockchain Tech
Commonwealth Bank of Australia (CBA), the largest bank in the country, has been mandated by the World Bank to arrange a bond issue exclusively on a blockchain.
CBA will reportedly arrange the first bond globally to be “created, allocated, transferred, and managed using blockchain technology.” The Blockchain Offered New Debt Instrument (bond-i) will be issued and distributed on a blockchain platform under the operation of the World Bank in Washington, and CBA in Sydney.
- Blockchain Startup Signs MOU With Central Bank of Curaçao and Sint Maarten.
Barbados-based fintech startup Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to research the possibility of issuing a digital guilder.
The parties signed the MOU in order to develop a central bank digital currency to facilitate financial payments within the monetary union of Curaçao and Sint Maarten. Per the announcement, the bank is looking to “reduce the level of cash usage within the monetary union” and facilitate “more secure, more Anti-Money Laundering (AML) and Know Your Customer (KYC) compliant” transactions between the islands.
- Blockchain Among Targets of South Korea’s $4.4 Billion Domestic Investment Plans for 2019
South Korea announced it would “nurture” eight sectors of the domestic economy, including blockchain, by investing 5 trillion won (about $4.4 billion) next year.
According to the results of a meeting involving the country’s finance ministry, the government opted to increase the amount spent on areas such as blockchain, big data and artificial intelligence (AI) by 65 percent from 2018 estimates.
- Blockchain Startup Havven Brings EOS its First Stablecoin
Havven, a decentralized payment network and stablecoin, has decided to launch on the EOS blockchain and will airdrop half of its new HAV tokens on the EOS blockchain to existing HAV holders on Ethereum. Havven wants to ensure that the payment network’s success does not depend on one blockchain.
- South Korean Government to Promote Blockchain Training as Part of ‘4th Industrial Revolution’.
South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT.
The Ministry of Science and ICT believes the country faces a global transformation called the Fourth Industrial Revolution, according to its website, and is focusing on supporting innovation across all of society by building an environment that promotes autonomous research and promotes growth technologies.
- WeChat Trials Using Blockchain Tech to Reimburse Employee Expenses.
WeChat, a messaging, social media and financial services app owned by Tencent Holdings Limited, has deployed a blockchain electronic invoice system at Shenzhen Guomao Rotary Restaurant, making the city of Shenzhen the first in China to issue invoices with blockchain technology.
The blockchain invoice process, which encompasses payment, invoicing and reimbursement, was created in partnership with Shenzhen Taxation Bureau and Kingdee Software.
This system was developed to simplify the process of reimbursing company employee expenses. Previous paper and electronic invoicing processes led to a cumbersome and elongated process of invoice verification, submission, review, and tax returns filing before eventually settling with employees.
- Blockchain Social Network Minds Is Migrating to Ethereum for Launch
Blockchain-based social network Minds is migrating its platform to the ethereum network, the startup announced Monday.
After roughly four-and-a-half months on its Rinkeby test network, the startup will be moving to ethereum for its full live launch. The firm claims to provide a censorship-resistant, accessible social network for users, especially those in potentially authoritarian nations.
- Where Roads Can’t Reach, Blockchain Drones Just Might Travel
According to its makers, the drone can carry up to 880 pounds, travel as far as 220 miles and work up to 8 hours. And everything that happens to these drones is going to be recorded on the project’s own blockchain, SKYFchain.
NOTE: Above Blockchain news update is for reference purpose and shared after reviewing multiple blockchain news updates.