UK Government to Develop a “Centralized” Blockchain Network
The federal government of the United Kingdom and the Government Chief Scientist Mark Walport will be investing in the blockchain technology to analyze the potential of its application in the conventional finance sector. The blockchain technology, also known as the distributed ledger technology enables anyone on the network to securely settle transactions and the transfer of assets with substantially low costs. Over the past few months however, an increasing number of firms and startups have begun to explore the potential of the blockchain technology as a distributed data sharing and....
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An independent Malaysian non-profit industry-government group is leading the effort to foster and develop the local blockchain industry in the country. The Malaysian Industry-Government Group for High Technology (MiGHT), an industry-government think tank that advocates and develops the country’s high technology agenda, is taking the first steps toward establishing Malaysia’s blockchain industry. MiGHT is collaborating with Bloktex, a cryptocurrency and blockchain advocacy body based in the Malaysian capital of Kuala Lumpur, toward this effort, according to a regional report. The....
"The progress of mankind is marked by the rise of new technologies and the human ingenuity they unlock." That's the glowing foreword to a new report on blockchain and distributed ledger tech issued by the UK government's Chief Scientific Adviser this week. Taking a positive outlook on the emerging technology, the document recommends a broad government initiative to develop and demonstrate blockchain and distributed ledger technology, one that has caught the attention of the global media while emboldening the growing chorus of "blockchain" enthusiasts. Perhaps the most....
A newly published assessment of the Reserve Bank of Australia’s take on the current financial system has revealed multiple endeavors by the central bank to study and develop blockchain solutions. The Reserve Bank of Australia’s report [PDF] on new developments on financial infrastructure has notably pointed to the establishment of a previously unknown ‘internal working group’ to consider the implications of blockchain technology. The Australian government has been pushing a FinTech-friendly agenda to encourage industry firms and startups to develop solutions in the country. The central....
Kookmin Bank, one of South Korea’s largest commercial banks and one of the four largest financial institutions in the country by asset value, has secured a partnership with Bitcoin wallet service and merchant payment solutions provider Coinplug to develop a blockchain-based foreign exchange business model. The bank will collaborate closely with Coinplug, which registered several blockchain technology patents under its name, to use the blockchain network to prevent counterfeit of electronic documents and reduce cost in securing data. Over the past few months, an increasing number of the....
Chinese Government has announced the creation of a Blockchain Working Group to develop and implement distributed ledger technology in the country. The Chinese government, in an attempt to keep up with the rapidly changing tech scenario, has announced the creation of a Blockchain Working Group. Through this working group, the Dragon state intends to forge strategic alliances with digital currency technology related businesses to accelerate the development and implementation of blockchain technology. The creation of Chinese Blockchain Working Group coincides with the preparation for upcoming....