Tag: Blockchain

The best blockchain “does not exist” — Cardano Foundation exec

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While many community members enjoy arguing about what the ultimate blockchain is, an executive from the Cardano Foundation believes that these arguments should stop, as use cases dictate which blockchain is most appropriate for specific projects.  At the World Token Summit in Dubai, Cointelegraph spoke with Mel McCann, vice president of engineering at the Cardano Foundation. The executive spoke about various topics, including enterprise adoption and the need to stop arguing about what blockchain is the best. Cardano Foundation’s Mel McCann (left) with Cointelegraph reporter Ezra Reguerra at the World…

Blockchain Aus CEO hammers ‘regulation by enforcement’

Blockchain Australia’s new CEO Simon Callaghan hopes the Federal Government will take its cues on crypto regulation from the United Kingdom, Hong Kong, and Singapore — and definitely not the United States. In his new position, Callaghan aims to steer crypto rule-making in the country and avoid making similar moves to the U.S. Securities and Exchange Commission — which is suing the world’s two largest exchanges and has branded at least 68 tokens as securities. “Regulation by enforcement is the equivalent of having a hammer and seeing everything as a…

JP Morgan expands blockchain payment system to include euros

JP Morgan, the U.S.-based investment bank, has widened the scope of its blockchain-oriented payment platform, JPM Coin, to include euro-based transactions for corporate customers. JPMorgan, a prominent investment bank headquartered in the United States, is broadening the use of one of its key blockchain ventures into conventional banking operations. The bank has initiated the usage of its blockchain-oriented payment system, termed JPM Coin, to incorporate euro-based payments for its corporate clientele, as reported by Bloomberg on June 23. The extension of the JPM Coin blockchain platform to accommodate euros, alongside…

MUFG may issue stablecoin via Progmat blockchain platform

Mitsubishi UFJ Financial Group Inc., a prominent Japanese banking corporation, is currently in negotiations with several businesses about issuing stablecoins, a form of digital asset, through its blockchain platform Progmat. Japan’s banking giant, Mitsubishi UFJ Financial Group Inc. (MUFG), is believed to be in discussions with several companies, including those linked to major international stablecoins, about the prospective deployment of these digital assets via its blockchain platform, Progmat. The new Japanese legislation on stablecoins, one of the first among the world’s leading economies, mandates that only the country’s licensed banks,…

JPMorgan Enables Euro Blockchain Payments With JPM Coin

American investment bank JPMorgan Chase & Co has enabled Euro-denominated payments via the JPM Coin, the native currency for their blockchain. Thus expanding the use of one of the projects known to promote the application of blockchain technology in traditional banking.  According to a Bloomberg report today, Basak Toprak, JPMorgan’s Head of Coin Systems for Europe, the Middle East, and Africa, confirmed that activation of the JPM Coin for Euro payments occurred on Wednesday, June 21. He further stated that German Corporation Siemens AG conducted the first Euro-denominated transaction with…

MUFG, Japan’s Largest Bank, to Issue Global Stablecoin via Progmat Blockchain

Since the regulatory issues have been covered and the law only permits trusted companies to issue the tokens, the move can help restore confidence in stablecoins and cryptocurrencies. Mitsubishi UFJ Financial Group (MUFG) is interested in using its Progmat blockchain platform for minting stablecoins and has been meeting with domestic and international companies for possible collaborations. The move is in response to Japan’s new stablecoin law that makes the country the first among the major economies to issue a clear stablecoin law. The law recognizes that stablecoins must be pegged…

Blame game rages over ASX’s failed CHESS system blockchain upgrade

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Digital Asset — the New York firm responsible for Australian Securities Exchange’s now-abandoned blockchain-based clearing system — has blamed the securities exchange for dropping its blockchain plans. Meanwhile, representatives of the ASX have clapped back in statements to Cointelegraph, calling the claims misleading. For the last seven years, the ASX was poised to be the world’s first securities exchange to adopt blockchain technology, which would be in partnership with the New York-based firm. However, in a u-turn, ASX announced on May 17 that it would be abandoning the upgrade and…

Coinbase Report: Over 50% Of Fortune 100 Companies Have Blockchain Initiatives In Pipeline

The cryptocurrency industry in the United States seems set for continuous expansion, despite the increasing regulatory pressure in the country. According to a new report by crypto exchange Coinbase, several leading U.S. corporations are undertaking blockchain initiatives to remain competitive in the global market. Coinbase Reports Increased Corporate Adoption Of Blockchain In The US A report by Coinbase titled “The State of Crypto: Corporate Adoption” reveals that 52% of the Fortune 100 companies have made crypto, blockchain, or Web3 efforts since the start of 2020. It was found that approximately…

Crypto Lending Platform Jet, Based on Solana $SOL Blockchain, Pivots to Fixed-Rate Term Lending

Even with less risk, Moreau said, Jet’s model faces some friction from big traders like market makers who have grown used to the flexibility of variable-rate products, where they can often pull their money at any time (assuming the utilization rate isn’t too high, of course). With a fixed-rate product their crypto is locked for the length of the contract. Source link

Over Half of Fortune 100 Companies Embrace Crypto, Blockchain, and Web3, Reveals Coinbase Report

According to a recent report released by Coinbase, more than half of the Fortune 100 companies in the US have been actively pursuing crypto, blockchain, or web3 initiatives since the beginning of 2020. This surge in adoption is driven by the recognition that the outdated global financial system needs modernization and the need to stay competitive in the global economy. The report highlights that 83% of surveyed Fortune 500 executives familiar with cryptocurrency or blockchain have existing initiatives or plans for the future. However, the lack of clear regulations…