Blockchain News 09.10.2018

Forbes partners with Civil to publish content on a blockchain

Business media giant Forbes is moving to the blockchain. Forbes senior vice president of product and technology Salah Zalatimo said “Forbes and Civil believe passionately in the mission of journalism, and together we can provide audiences with a level of unprecedented transparency around our content. We’ll also be able to expand the reach of our writers and identify new revenue channels over time.”

The experiment will begin next year. If it succeeds for both companies, Forbes will move to publish all article metadata to Civil’s platform. Forbes writers and editors will see blockchain publishing tools integrated into its content management system, which will help streamline the process of adding such metadata – which includes an author’s identity and some information about sources within a piece – to the company’s platform. Forbes may look to use smart contracts to allow contributors to publish pieces to Forbes, Civil or blogging platform Medium, among other outlets, through its CMS.

Middle East’s first central bank backed crypto exchange to launch in 2019

Two blockchain veterans are gearing up to launch what could be the first cryptocurrency exchange in the Persian Gulf to be licensed by a central bank. Rain Financial has opened its public waiting list, after a year in the Central Bank of Bahrain’s fintech sandbox. Rain aims to offer both a brokerage for retail crypto investors and an institutional platform along the lines of Coinbase Pro in Silicon Valley.

Rain participated in the Bahrain sandbox – a regulatory program where applicants experiment in a closely supervised environment before graduating to full-fledged licensed businesses – Rain expects to launch in early 2019. “What is unique about Rain is they are the most advanced and the closest to graduating… There’s no cryptocurrency exchange in the region that is officially regulated. Hopefully, Rain will be the first one.” Khalid Saad, CEO of Bahrain Fintech Bay, a non-profit co-working space for local startups.

Swiss regulator issues first crypto asset management license

Crypto Finance AG has obtained the same license as professional fund managers, as the country pushes to become a leader in the growing cryptocurrency industry. The Zug-based company can now manage and distribute, domestic and foreign funds, and provide advice to investors.

Chief Executive Officer Jan Brzezek said “…our aim is to accelerate maturity in these markets… FINMA authorization is an important acknowledgment of Crypto Fund, and for crypto assets around the world.” Obtaining the license removes a hurdle for the company, allowing it to cater to institutional investors.

Bitwala to open German cryptobank with support from solarisBank

Blockchain startup Bitwala is aiming to launch Germany’s first “blockchain bank account.” Bitwala plans to offer banking services by way of solarisBank’s German banking license, who is also their new partner. Bitwala raised €4 million in new funding last month to support its efforts.

Thus far, according to the company, 35,000 users have pre-registered for the upcoming service. Bitwala’s partner has some notable backers, including VISA and Spain-based BBVA. Jörg von Minckwitz, president of Bitwala said “We are very proud to partner with solarisBank as we launch our new product. Their technical services and regulatory umbrella enable Bitwala to be fully compliant with German banking requirements while offering a reliable user experience.”

Blockchain News 09.10.2018

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