Blockchain Market Update – November 13, 2018

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November 13, 2018 by
Blockchain Market Update – November 13, 2018

KPMG: Announced partnership with Blockchain in Transport Alliance (BiTA) to help develop blockchain standards for the transportation industry. Their aim is to use the blockchain to streamline the complexity associated with transport logistics—Project Development

MUFG: Japan’s biggest bank and Brazil’s Banco Bradesco to collaborate on cross-border payment service based on Ripple technology. Both banks signed MOU agreeing to co-develop system that will enable fast, transparent, and traceable international payments between Japan and Brazil—Project Development

BP, Shell, Equinor: Major oil firms partner with large banks and trading houses to launch a blockchain-driven platform Vakt for energy commodity trading. Vakt includes banks ABN Amro, ING, and Societe Generale, along with trading houses Gunvor, Koch Supply & Trading, and Mercuria—Project Development

Binance CEO: Zhao Changpeng noted that crypto OTC market must be at least as large as the online reported volumes on CoinMarketCap.  Speculates that there is at least 50% of trading volume that is not reported on CoinMarketCap but admits that Binance is not heavy in OTC business, so real volume of entire crypto market is unknown—Other

Upbit: South Korean exchange has been marketing new crypto exchanges in Thailand and Indonesia in their local languages. Thai version of Upbit states its service is in “closed beta” phase and available only to a limited number of early registrants. There will be 131 coins listed with 241 trading pairs. Upbit’s Indonesian website is less developed than Thai counterpart but is expected to list 156 coins with 276 trading pairs—Project Development

EOS: In screenshot circulating on social media, decentralized blockchain protocol EOS is seen to be reversing confirmed transactions. A so-called judge referred to verses from the EOS blockchain’s constitution to resolve a dispute between two account holders. Ruling reads: “Under the powers afforded to me as arbitrator under article 6 of the Rules of Dispute Resolution, I, Ben Gates, rule that the EOS account in dispute should be returned to the claimant with immediate effect and that the freeze over the assets within the said account is removed”—Other

FantomDAG-based smart contract platform announced a strategic partnership with real estate firm Tosei. Tosei will benefit from the application of Fantom’s Opera Chain to improve its services from the tracking of materials to the storing of property ownership contracts. Fantom, in turn, will benefit from Tosei’s connections with local businesses and corporations throughout Japan—Project Development

IMF: The International Monetary Fund is against the proposal of the Marshall Islands to launch a sovereign digital currency by adopting crypto. As early as September 10, the IMF criticized the finalized plans of the Marshall Islands of creating a national cryptocurrency, citing potential money laundering, financial integrity, and macroeconomic risks—Other

Michigan Secretary of State: Formally barred cryptocurrencies from being used as donations to political campaigns. Disagreed “that digital currency is a valid way to receive political contributions,” writing that “the law does not authorize such a vehicle, and the Department has never determined that digital currencies are a valid way to receive political contributions”—Regulation

Accenture: Global professional services giant rolled out a new software license management application through its partnership with startup Digital Asset. Announced that the blockchain-based application uses Digital Asset’s smart contract language, DAML, and is aimed to simplify how its software licenses are tracked—Project Development

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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