Europe’s largest trader of ETFs is moving into crypto
Europe’s largest trader of exchange traded funds is moving into crypto.
Flow Traders NV, an Amsterdam based speed trader, is making markets in the first exchange traded notes based on Bitcoin.
Flow Traders is the first firm anywhere to disclose it’s buying and selling crypto notes listed on regulated stock exchanges.
Publicly traded notes or funds would broaden the appeal of virtual money as an asset class by providing a straightforward way of investing in Bitcoin.
Co-CEO of XBT Provider, an issuer of crypto ETNs listed in Sweden, Dennis Dijkstra said:
“People underestimate crypto. It’s big, and it is to be regulated very soon. The market participants are much more professional than people think. Institutional investors are interested, we know they are because we get requests.”
Western Union patents a secure transfer system modeled after Bitcoin
A newly published Western Union patent envisions a system that manages recurring transfer notifications and secure payments for a cryptocurrency network.
The Englewood, CO-based firm, the largest fiat money transfer service in the world, has sought to devise a method to increase the security of electronic payments.
The patent application indicates that the system has been designed as a general purpose tool to accommodate most types of electronic network. However, the document specifically notes that “in certain embodiments” the “electronic transfer network may be a cryptocurrency network such as Bitcoin, Litecoin, or Peercoin the application was submitted in 2016.
Bittrex teams up with Invest to launch new digital trading platform
US blockchain trading platform Bittrex announced it has teamed up with fintech firm invest.com to open a new digital trading platform for customers in the European Union. The platform will be launched under the invest.com brand name.
Bittrex reported that the partnership will combine its cutting-edge trading platform technology, and selection of nearly 200 digital tokens, with invest.com’s knowledgeable team of experts in derivative trading, portfolio management, and equity trading.
South Korean government starts blockchain classification system recognizing crypto exchanges as industry
The South Korean government has announced the start of an industrial classification system that covers blockchain related industries.
This is the first time to government has actually recognized crypto exchanges as an industry.
In the announcement, crypto exchanges are described as ‘asset exchange and brokerage’.
Blockchain platforms are classified by the government as ‘blockchain based system software development and supply businesses’.
The blockchain classification system will be divided in several subdivisions. One subdivision for example is ‘blockchain-based system software development and supply’.
There will also be a category for the development and supply of mobile game softwares based on blockchain technology, as well as a subdivision for exchanges and blockchain cloud hosting services, such as Amazon Web Services and Microsoft Azure.
In total, there will be three main categories and ten subcategories.
Chinese search giant Baidu to launch rewards on blockchain platform
Baidu, widely dubbed as the Google of China, is going to launch rewards and announce the blockchain layout of their project “Totem” in an upcoming conference on July 18th.
Totem, a blockchain-based platform, was launched by Baidu in April. Totem utilizes blockchain technology to manage the intellectual property rights of images. They aim to enable more efficiency in the ownership of images and preventing infringements.
“The copyright information of the work is permanently written into the blockchain. Based on the credibility and incomprehensibility of the blockchain, combined with Baidu’s leading artificial intelligence technology, the dissemination of the work can be traceable, reprintable, monitorable, and change the copyright of traditional pictures.”
Using Blockchain, Totem would allow more transparency into image rights and the licensing process. The platform would also take advantage of Baidu’s Artificial Intelligence technology to monitor any copyright violations across the web.
Huobi opens Australian exchange with crypto to fiat trading
Huobi cryptocurrency exchange launched its Australian trading platform, which trades Bitcoin and alt coins.
The new exchange offers only crypto-to-fiat trading with the Australian dollar.
Huobi Australia (HuobiAU) is a joint venture between Huobi and Blockchain Global, one of the leading Australian venture funds with more than $200 million of investments. Adrian Harrison, a former director at HSBC Hong Kong division, is the CEO of the new exchange.
IBM to use blockchain & provide data security to Australian govt in 5 year $740M deal
US tech giant IBM has signed a A$1 billion ($740 million) agreement with the Australian government to provide blockchain related technological support over the next five years.
The contract will see services such as automation and blockchain provided to federal departments including defense and home affairs.
IBM will also come up with updated platforms to securely store citizens data.
The Australian government expects to save A$1M over 5 years through this partnership.
Under the contract, IBM and Australia’s Digital Transformation Agency will manage a joint program that will operate with innovative technologies like blockchain, artificial intelligence (AI), and quantum computers. This will help the county achieve its goal “to become one of the top-three digital governments in the world by 2025”.
Spain’s lawmakers propose blockchain use in governance
Spain’s ruling party believes the government should utilize blockchain to operate the country’s public administration more efficiently.
Last week, 133 deputies from the Popular Party submitted a blockchain-related proposal to the Congress of Deputies, the lower chamber of the Spanish Parliament.
This proposal recommends that the government introduce blockchain “with the aim of improving internal processes and traceability, robustness and transparency in decision making.”
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