BLOCKCHAIN LAW INCREASES SECURITY
FOR INVESTORS
Firms
using blockchain technology in financial transactions now have legal
certainty in Luxembourg after parliament passed a law on Thursday.
Bill
7363 was intended to “provide financial market participants with legal
certainty for the circulation of securities via blockchain technology”,
the bill document reads, adding: “The bill should provide more security
for investors and make the transfer of securities more efficient by
reducing the number of intermediaries.”
It was passed with 58 votes in favour and 2 against (Déi Lénk).
The
new legislation builds on the reform of the 1 August 2001 law on the
circulation of securities, which in 2013 introduced the generalised
possibility to issue dematerialised securities. It goes further in
clarifying that securities may also be registered in an account and
transferred using secure electronic registration mechanisms, in
particular based on blockchain-type technologies of distributed
registers or ledgers.
Secure transactions
Blockchain, which was originally devised for digital currencies, works
by creating lists of records, known as blocks, which are linked by
cryptography. The blockchain keeps a record of all data exchanges, or
transactions in a ledger. Every verified transaction is added to the
ledger as a block. The system is secure because the transactions cannot
be altered once they have been signed and verified.
There has, however, been some legal uncertainty regarding its use in
Luxembourg, prompting calls in 2018 for a blockchain task force at
government level. Responding to a parliamentary question in May 2018,
finance minister Pierre Gramegna (DP) said the financial centre high
committee served as a task force and gave the impetus for the creation
of the Luxembourg House of Financial Technology. At the time, he said
that 15 out of the 128 active fintech companies in Luxembourg were
specialised in blockchain.
The passing into law of the bill was welcomed by the blockchain
community. Lhoft CEO Nasir Zubairi told Delano on Thursday: “Though some
would suggest that existing regulation was adequate, this new rule is
welcomed in that it provides clarity on the settlement of securities by
blockchain, removing ambiguity for Fintech firms and traditional
institutions who are looking at Blockchain/DLT technologies as a means
for reducing cost and optimising securities processes.”
February 15, 2019 by Jess Bauldry
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http://delano.lu/d/detail/news/blockchain-law-increases-security-investors/203294
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Here's how blockchain can return confidence to the Indian food industry
Blockchain
could help demystify today’s complex and sprawling food supply chains,
making it easier to ensure the security and safety of the food that we
eat.The last few years have been disruptive for India’s F&B
industry. The rise of cloud kitchens and app-based food delivery has
created a new normal. The customer who is ordering food, however, has no
visibility or awareness of the hygiene standards maintained or the
quality of products used, at the restaurants they choose.The most recent
incident of a delivery agent eating out of a customer’s order has
shaken up the industry and created doubts in the minds of consumers.
Fake medicines and adulterated food items like milk, sweets and
vegetables with injected colors, sneak into our food chain and no one
gets any wiser. While tighter safety regulations and more stringent
self-checks have a part to play, it is increasingly clear that better
traceability and transparency could help the supply chains prevent
future incidents like these from disrupting business owners’ and
consumers’ lives.One of the possible sources of that transparency is
Blockchain. This innovative technology could give manufacturers,
distributors, restaurants and retailers a single source of truth about
every shipment that passes through our incredibly complex food supply
chains. Blockchain technology may even help businesses regain and
reinforce trust from the general public – acting as a “certification of
excellence” that consumers could rely on when choosing products off the
shelf.Placing higher emphasis on traceabilityProducers, distributors,
eateries and retailers often blindly must trust each other when
operating their supply chains. For instance, instead of conducting
stringent and time-consuming background checks on the authenticity of
their shipped produce, food retailers will often choose to trust the
quality assurance processes of their suppliers. Although this simplifies
supply chains, it becomes challenging when a food crisis occurs – often
thrusting businesses into a race against time to locate the source of
contamination. At the beginning of a crisis, the standard operating
procedure would be to perform a complete recall of all products – even
uncontaminated ones – as both a cautionary action and an attempt to buy
more time.
While
the immediate effects of this – profit loss, supply line disruption,
food wastage – are quite damaging, it is the long-term aftereffects,
namely the break of customer trust that can really hurt reputations. The
longer a business takes to identify the source of a contamination and
take remedial action, the greater the risk of mass uproar. Thus, tracing
any product batch through the entire supply chain is in the best
interest of every participant or stakeholder.
Blockchain
can do this by creating a record of every such batch – one that’s
automatically updated as it goes from field to factory to supermarket to
fridge and cannot be edited without the permission of every party in
that supply chain. That creates a data trail which improves the track
and trace capabilities throughout the supply chain – potentially
allowing batches with issues to be identified and isolated within hours
instead of weeks and paving the way for more concrete action.
February 16, 2019 by Prasad Rai
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GigaLayer Web Services Integrates Dash Expanding Usability Options in Africa
Dash
Nigeria recently got GigaLayer, a web domain name and hosting service,
to integrateDash after attending the Nerds Unite Conference in Lagos,
Nigeria on February 15, 2019.
The
Nerds Unite Conference featured over 500 attendees that are
professionals in fintech, blockchain, and IT from all over west Africa
and the world. Aside from making valuable connections and setting up
wallets, Dash Nigeria was able to forge a partnership with GigaLayer so
they would accept Dash payments for their services. The direct
integration is significant since the only other cryptocurrency accepted
by the platform was Bitcoin.
GigaLayer’s
main operations are in Nigeria, but also services individuals and
companies is 13 different African countries for a total of 6,000
business owners. Additionally, GigaLayer’s CEO, Ahmad Mukoshy, cited
Dash’s “speed in payments”, “low transaction fees”, and the desire to
“support the community and also be part of the community” as part of the
reasons to integrate Dash. Ahmad Mukoshy also went on to discuss how
the integration helps expand options for consumers.
Forging connections to benefit consumers
Web
services such as domain purchasing and web hosting is a very useful
tool and even more popular within the tech and cryptocurrency space.
Thus, GigaLayer will provide everyday value for consumers by giving them
a service they needed anyways that they can now purchase with Dash.
This is an overlooked factor in achieving adoption since in the early
days, and somewhat still today, many items sold for cryptocurrencies are
superfluous novelty products such as t-shirts, artwork, books, etc.
While these are cool products and deserve merit, they ultimately are not
going to help the average consumer live their everyday lives the same
as the ability to pay for groceries, rent, gas, business products, etc,
in Dash.
As
more businesses that focus on everyday consumption items accept
cryptocurrency, not only can consumers more confidently spend
cryptocurrency, but workers will be more willing to accept wages in
cryptocurrency since they know they can easily spend it on essentials.
The beginnings of this supply chain adoption is being seen in the
cannabis sector where Alt Thirty Six has initiated a cash pickup system
that will pay dispensaries in Dash for their cash and the dispensaries
can then use the CannTrade platform to pay their suppliers in Dash. This
saves a lot of money for the cannabis industry due to the banking
issues in the United States, but the cryptocurrency benefits can also be
carried over to other industries that focus on everyday consumption
items to save money typically spent on card and bank processing fees.
February 21, 2019 by Justin Szilard
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https://dashnews.org/gigalayer-web-services-integrates-dash-expanding-usability-options-in-africa/
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Blockchain for Exchanging the World
Ever
since Binance was created, we have envisioned the creation of a native
blockchain for our platform. And during the months that passed since the
launch of Binance, amid all the expansions we made for the Binance
ecosystem, the blockchain project remained an important step in our goal
of exchanging the world. After months of groundbreaking work, we’re
hours away from the testnet launch of the all-new Binance Chain, set at
February 20.
Binance
Chain is a blockchain project initiated by Binance and has since
involved a whole community of Binancians. Together, we want to ensure
the creation of a blockchain that will serve as an alternative
marketplace for issuing, using, and exchanging digital assets in a
decentralized manner.
The
first use case for Binance Chain is Binance DEX, a new decentralized
exchange (DEX) that aims to carry over the best features of the current
Binance exchange in a decentralized setting, while also offering the
benefits and security of a DEX. Below, we explain what sets Binance
Chain and DEX apart.
Why DEX? And Why Binance DEX?
A
DEX is a great manifestation of Binance’s mission to spread the freedom
of money. With a DEX, a person fully holds his crypto funds and
directly plug into the network to trade without needing to provide
personal information. Unlike centralized exchanges that may be subject
to downtimes, a DEX is kept running by nodes distributed around the
world and codes that execute functions.
However,
the current DEX options face issues that hinder them from growing as
widely used platforms. The user experience on existing DEX platforms is
less intuitive and user-friendly compared to centralized exchanges. In
addition, DEX platforms face speed and liquidity issues, which leave
them lagging behind their centralized peers.
At
Binance, we are fully aware of the issues that hinder DEX platforms
from reaching a wider user base. And among the current and emerging DEX
players in the market, we are in a unique position of knowing how to run
a secure exchange platform that quickly processes billions in
transactions for millions of people. From there, it’s a matter of
figuring out how to replicate the successes of our market-leading
centralized exchange into the decentralized realm. Here’s where Binance
DEX comes into the picture.
What’s in Binance Chain and DEX?
With
Binance Chain and Binance DEX, our immediate goal is to quickly launch a
platform that does one thing very well: exchange assets. “Binance Chain
is a very simple chain in terms of application, but it can handle very
large loads. It is our opinion that the load is more important than the
features,” Binance CEO Changpeng “CZ” Zhao said about the upcoming
blockchain. Once we show that the infrastructure is sound enough to
handle many transactions quickly, the additional features will follow.
February 18, 2019 by Binance
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Samsung SDS and IBM Collaborate to Strengthen Open Source Hyperledger Fabric and
Blockchain Ecosystems
During
IBM THINK 2019, IBM’s annual conference focused on technology and
business, Samsung SDS announced it is continuing its collaboration with
IBM in support of advancing Hyperledger Fabric, an open source
cross-industry blockchain technology, with recent code contributions,
research and a new white paper.
As a contributor to Hyperledger Fabric, Samsung SDS is working to
improve fabric capabilities and actively contributing its new
"Accelerator" code to the open source community. The new code is
expected to significantly improve Hyperledger Fabric performance for
specific use cases.Samsung SDS is also making a new white paper
available, “Accelerating Throughput in Permissioned Blockchain
Networks,” co-written by IBM. The paper validates the applicability of
Accelerator to Hyperledger Fabric, provides a roadmap and also
illustrates performance improvement in terms of transactions per second.
A copy of the white paper and the Innovation Sandbox environment is now
available for external developers to test.
(https://github.com/nexledger/accelerator)
While this technical initiative is being rigorously validated from the
open source Hyperledger community, Samsung SDS will prepare to become
IBM’s key go-to-market reseller partner of IBM Blockchain Platform in
Korea.
Ted Kim, Vice President, Blockchain Team from Samsung SDS America has
been named to the IBM Blockcchain Board of Advisors. Additionally,
during the IBM Think Conference in San Francisco, Kiwoon Sung, Head of
Blockchain Research Lab, Samsung SDS, will discuss the company’s
blockchain innovation efforts at a session entitled, “New Blockchain
Solutions emerging from the IBM Blockchain ecosystem."Hyperledger is an
open source collaborative effort created to advance cross-industry
blockchain technologies. It is a global collaboration including leaders
in finance, banking, Internet of Things, supply chains, manufacturing
and Technology. The Linux Foundation hosts Hyperledger under the
foundation. To learn more, visit: https://www.hyperledger.org/.
About Samsung SDS
Samsung SDS was founded in 1985 and has been leading the digital
transformation and innovation of its clients for over 30 years. With the
vision to become a data-driven digital transformation leader, Samsung
SDS utilizes advanced technologies such as analytics platforms, AI,
blockchain and cloud to serve a diverse range of industries including
intelligent manufacturing, global logistics, enterprise mobility,
financial services and retail. For more information, visit
https://samsungsds.com
February 15, 2019 by Samsung SDS Communication Team
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About STARBIT
Starbit
aims at spreading theoretical - practical knowledge among ordinary
people, without being an expert or willing to become an expert. Starbit
is aware of the impact that blockchain and crypto currencies will have
on people's lives: for this reason it promotes a mass literacy.
Starbit selects everything needed for a person to be informed and about
blockchain technologies and various applications, making it easier, in a
progressive manner, accessible to all, thus saving time and resources
to anyone interested in this area. The goal is to offer various degrees
of knowledge (first level is free as Club Member and the others included
in the products purchasable by customers) to those who are interested
in playing an acting rule. Starbit also offers an opportunity to those
who want to transform all this in a work from home opportunity.
DISCLAIMER
Registration
to the Club is totally free and gives access to the basic information
on Blockchain and its applications on the market, the most important of
which is constituted by the so-called crypto currencies. At the Club
members who are interested in having a more complete knowledge and
information is also offered the possibility (it is an option, not an
obligation) to buy upgradable services or applications (the acquisition
of knowledge is a fact known to be progressive over time).
Any coins (when free attributed by third parties) that may result
gradually, will of course be the exclusive property of the customer and
should not be considered in any relationship the servicies or
applications purchased.
For maximum clarity applies the following example: if a person acquires
an organic farming course that includes in addition to the theory, also a
practical detection of cultivation of an organic garden (like was done
by Michelle Obama at the White House), any products (carrots, tomatoes,
peas, etc.) that will enrich his table, will obviously be of full
ownership of those who have grown the organic garden and will not of
course no relation to the person who sold the course, even if he has
supplied the equipment for the practical test, such as seeds, tools,
pots, fertilizers, various preparations, etc.
Subscribers to the Club have the power to start the business, if
authorized and in acceptance of all the terms and conditions for the
Promoter, explained in the Promoter Agreement and in the Policies and
Procedures. They should not incur any fees and never any obligation to
buy anything. If as a result of the promotion done, some new Club
member, decide to buy a package Information, the Promoter will receive a
commercial fee as provided by the terms and conditions above mentioned.
It is not authorized anyone to provide news other than those listed
here and on the official website, to promise false gains and / or try to
push the purchase of the products, which must instead be the result of
personal conviction. In particular, it must never be made no reference
to any kind of investment if not purely cultural nature. This Club is
fully committed to compliance with the laws of the countries in which it
operates. It's also open to collaboration with those who help him to
improve.For each queries or suggestions please contact via the official
website. For questions please contact support@starbit.com
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