Investigating Digital Assets in Japan Stymied by Nature of Crypto

According to top government officials in Japan, the current national tax system is not yet capable of accepting declarations of digital assets, potentially leading to outflows overseas. In a Q&A session at the Financial Statements Committee on April 6, Representative Shun Otokita of the Japan Innovation Party pointed out the importance of market research for the introduction of separate taxes for crypto currencies. Otokita was concerned with the current high-tax system in Japan. He acknowledged that it would be difficult to quickly change the tax code to apply to digital…

South Korea’s Central Bank Launches Digital Currency Pilot Program

The Bank of Korea announced on April 6 that it has launched a pilot program to assess the logistics of issuing a central bank digital currency —  or CBDC. While the South Korean central bank has no immediate plans to introduce such a currency, the pilot scheme will ensure that it is prepared to do so in the face of changing market conditions. 22-month pilot scheme Following theoretical research conducted in February 2020, the pilot will comprise a technological and legal review of CBDC issuance. It began in March and…

BIS Calls for Central Bank Digital Currencies Amid Coronavirus Pandemic

The Bank of International Settlements (BIS) has issued a report arguing in favor of central bank digital currencies (CBDCs) and digital payments amid the COVID-19 pandemic. The bulletin published by the BIS, a 600-member international financial institution representing the central banks of 60 countries, urges central banks to consider developing CBDCs in light of concerns regarding the spread of coronavirus through existing payment methods. BIS warns of COVID-19 transmission via credit card terminals The report notes a significant negative change in consumer attitudes regarding the use of cash in response to…

Talking Digital Future: Smart Cities

My journey into smart cities and their future development was a really big surprise, as the way I arrived there was not something that I had planned. I was working as the chief information officer for a company in Northern California called O’Reilly Media when I got a call from a headhunter who asked if I would consider being the chief information office for the City of Palo Alto. I can vividly remember — it was only about eight years ago — my feeling when she asked the question. The…

BRI Remittance Brings Digital Identity to Banking With Blockchain Partnership

Digital identity solutions are on the rise as consumers seek security and accessibility in a digitized world. A new report from 360iResearch shows that the global digital identity market is expected to have reached about $37 Million by the end of 2025. As COVID-19 continues to wreak havoc, this number could grow even larger.  Unsurprisingly, the trillion-dollar banking industry has already expressed interest in digital identity solutions. For example, Everest, a blockchain-based digital payments provider, has recently formed a partnership with BRI Remittance, a subsidiary of one of Indonesia’s largest…

Bank of France Launches Experiment Program on Central Bank Digital Currency

As a number of global jurisdictions like the Bahamas and Sweden are already testing their central bank digital currencies (CBDC), French central bank is getting more straightforward regarding its own CBDC plans. The Bank of France is now officially launching a program of experiments to test the integration of a CBDC for interbank settlements, inviting potential participants to submit their applications. Bank of France doesn’t insist on blockchain implementation for CBDC According to a March 30 document, France’s central bank is calling for applications to experiment with the use of…

Japan’s Nomura Securities and BOOSTRY Issue First Blockchain Digital Bond Offering

Sharing is caring! Nomura Securities (NS) joined the Nomura Research Institute (NRI) and BOOSTRY have joined up in a venture to create Japan’s first digital asset bond and digital bond to use value co-creation to help develop the countries’ capital markets, along with solving social issues.  The digital asset bond was offered directly to investors by NRI, while NS served as the underwriter, Nomura Trust and Banking (NTB) acted as fiscal agent, while BOOSTRY provided its blockchain platform “ibet” and acted as register agent. The platform allows issuers to keep…

Japan’s Nomura Securities and BOOSTRY Issue First Blockchain Digital Bond Offering

Sharing is caring! Nomura Securities (NS) joined the Nomura Research Institute (NRI) and BOOSTRY have joined up in a venture to create Japan’s first digital asset bond and digital bond to use value co-creation to help develop the countries’ capital markets, along with solving social issues.  The digital asset bond was offered directly to investors by NRI, while NS served as the underwriter, Nomura Trust and Banking (NTB) acted as fiscal agent, while BOOSTRY provided its blockchain platform “ibet” and acted as register agent. The platform allows issuers to keep…

Talking Digital Future: Artificial Intelligence

I chose artificial intelligence as my next topic, as it can be considered as one of the most known technologies, and people imagine it when they talk about the future. But the right question would be: What is artificial intelligence? Artificial intelligence is not something that just happened in 2015 and 2016. It’s been around for a hundred years as an idea, but as a science, we started seeing developments from the 1950s. So, this is quite an old tech topic already, but because of the kinds of technology that…

Industry Players Join Former CFTC Royalty on Digital Dollar Project’s New Board

The Digital Dollar Project, which advocates a blockchain-backed digital dollar in the United States, has announced the inaugural roster of its Advisory Board. The new advisors joining the founders of the project The project is an initiative of several former heads of the Commodity Futures Trading Commission (CFTC) and Accenture. The new advisory board includes 22 members with broad backgrounds in finance and payment technologies. They include former CFTC Commissioner Sharon Bowen, PayPal policy exec Usman Ahmed and Georgetown fintech law professor and occasional Cointelegraph contributor Chris Brummer. The announcement…