17th July Blockchain Update

  1. China Sees Sixfold Increase in Companies With ‘Blockchain’ in Their Title

In China, the number of companies registered with the word “blockchain” in their names surged from January to July 16, 2018, surpassing last year’s number by nearly six fold.

In the past twelve months, 16,600 firms were set up with blockchain specified as part of their lines of business, while over 3,800 of them had registered capital of more than $1.5 million. Approximately 41 percent of start-ups that received funding in China in the first quarter of last year were blockchain-related.

  1. Korean Internet Agency to Develop Blockchain Platform with Housing Finance Corporation

The Korea Internet & Security Agency (KISA) and the Korea Housing Finance Corporation (HF) have signed a memorandum of understanding (MOU) to develop a blockchain-based storage system for documents.

KISA and HF will introduce a blockchain system to manage electronic documents for mortgages and loans. KISA will provide HF with consulting and technology for building and operating the new system. HF, which provides housing finance services for low and middle-income families, will digitize paper documents and migrate them onto an online registered documents storage system.

  1. New Platform Provides Insurance for Blockchain Companies

iXledger, a company founded in early 2017 in London, U.K., has launched Blockchain Insurance, a platform that enables blockchain companies to obtain business insurance quotes based on a risk assessment. The platform presents exposures in metrics relevant to the underwriters, insurers and reinsurers.

 

The company says that the team has launched the platform in partnership with experts in London’s insurance markets. It is specifically tailored to protect blockchain businesses from risks associated with legal threats, financial exposure, cyber risk and crime.

  1. Hong Kong Trade Finance Will Fight Fraud with a Blockchain-Based Platform

The Hong Kong Monetary Authority (HKMA) has partnered with Chinese Ping An to release a blockchain-based trade finance platform. The joint effort is expected to speed-up the process and prevent fraud.

CCN first reported the Hong Kong’s de facto central bank’s initiative back on March 30. At the time, the bank unveiled a proof-of-concept (PoC) blockchain platform built for trade finance.

The enterprise initially included participants such as Bank of China (Hong Kong), Deloitte, HSBC, the Bank of East Asia, Hang Seng Bank, and Standard Chartered (Hong Kong).

  1. ‘Bond Coin’: Thailand Plans Blockchain Token for Instant Securities Settlement

A prominent securities markets body in Thailand is preparing a blockchain-based token that will power instant clearing and settlements of corporate bonds.

After researching blockchain technology for a bond registrar services platform, the Thai Bond Market Association (TBMA) has revealed its intention to create a “Bond Coin”, a custom token on a private blockchain between permissioned participants including issuers and investors alongside regulators and registered firms.

Notably, the TBMA has already received permission from the Securities and Exchange Commission, the country’s securities market regulator, to develop the blockchain in a three-phase project expected to launch in August 2018, the Bangkok Post reports.

  1. Ripple Wants to Beat Bitcoin in India, Initially Planned to Giveaway Billions

Ripple (XRP), the largest bank-targeted blockchain protocol, is attempting to take over 50 percent of India’s finance sector by processing payments with low fees and efficient systems.

Currently, as of July 12, one XRP costs around $0.44 and at its peak, XRP was valued at over $3.00. Two billion XRP at a rate of $0.44 would cost around $880 million, and based on the all-time high price of XRP, which could be achieved once again in the next rally of the cryptocurrency market, two billion XRP tokens could easily be worth roughly $7 billion.

  1. Riyadh City Picks IBM to Integrate Blockchain in Government Services

The municipality of Saudi Arabia’s capital city Riyadh has partnered IBM to facilitate government services and transactions on a blockchain.

Under terms of the partnership, early blockchain-tech mover IBM will work with Elm Company, the municipality’s technology partner, to develop an implementation strategy to plug government transactions and commercial services to citizens and residents on a blockchain

 Note:- The above news about blockchain update is shared from different blockchain websites.

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