The World Economic Forum (WEF) has put together a policy-maker toolkit designed to help central banks investigating the creation of digital currencies. Last week, a Bank for International Settlements survey found that 80% of central banks are engaged in some form of CBDC work, with 10% expecting to issue their own within three years. To
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Urgent action is needed to tackle a skills and talent crisis in UK financial services, according to an independent review commissioned by HM Revenue which warns the industry is in for a bumpy ride in the face of the technological revolution and Brexit. The review, carried out by the Financial Services Taskforce, warns that the
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According to a report by The Economic Times published on January 28, 2020, India’s National Institute for Smart Governance (NSIG) – a public-private body promoted by the Central government and software industry lobbying group NASSCOM – has recommended that laws and regulations should cater to the functions performed by technologies such as blockchain and not
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Popular Bitcoin (BTC) exchange platform LocalBitcoins is allegedly suspending user accounts with little fanfare, citing an “enhanced due diligence process.” Finland-based LocalBitcoins, one of major global peer-to-peer (P2P) crypto exchanges, has reportedly suspended user accounts in some countries in Africa, the Middle East and Asia without warning, with some users being unable to withdraw their
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Standard Chartered has invested an undisclosed sum into Contour, a Corda-based blockchain trade platform, to streamline transaction settlement processes. Contour, which rebranded from Voltron last week, recently tapped R3’s Asia chief Carl Wegner as CEO in the run-up to a full commercial launch of its digitized letter-of-credit (LoC) service, which it claims reduced processing time
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