1. FCA Announces Global FinTech Alliance
The UK Finance Conduct Authority has released a press release to announce the creation of a Global Financial Innovation Network (GFIN). The association was formed in collaboration with 11 financial regulators and organisations. The initiative is connected to the British regulator’s previous proposal for a ‘global sandbox’. The alliance will benefit communications between innovative companies and regulators as well as between regulators from different countries. In fact, the latter will be able to work towards joint projects and share their experiences; while firms will have the chance to develop cross-border solutions.
2. Is Barclays Setting Up a Digital Asset Team or Not?
There have been reports about Barclays setting up a digital asset team. It has been revealed that the bank is more interested in ways it can trade cryptocurrencies rather than launching a virtual currency trading desk. Former Global Head of Energy Trading Chris Tyrer will be in charge of the project. Head of FX and Emerging Markets Macro Strategy Marvin Barth along with Senior Executive and Blockchain Expert Lee Braine will also be involved. However, Cointelegraph has now reported that Barclays is denying working on any crypto project. Two employees have even removed evidence of the project from their LinkedIn profiles. It appears that the financial services firm prefers to maintain secrecy.
3. West Virginia To Extend Blockchain Voting App To All Counties
Back in March, we reported on West Virginia’s decision to launch a blockchain-based voting app. It was the first US state to do so. The mobile application targeted military members as well as their families. The pilot was launched in two of the state’s 55 counties. However, they are now planning the launch of the app in the remaining 53. It’s worth noting that blockchain is only one of the technologies involved in the project. In fact, startup Voatz’s facial recognition technology is being used to verify the voter identity. The data will then be stored on blockchain. Mac Warner, Secretary of State, stated that its office didn’t encounter any issue so far.
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Sources:
- https://www.fca.org.uk/news/press-releases/fca-collaborates-new-consultation-explore-opportunities-global-financial-innovation-network
- https://www.newsbtc.com/2018/08/06/barclays-sets-up-digital-asset-team-to-explore-crypto-trading/
- https://cointelegraph.com/news/barclays-denies-crypto-products-as-staff-removes-digital-asset-project-linkedin-info
- https://hackernoon.com/29-03-2018-biggest-stories-in-the-cryptosphere-391e75965e8f
- https://thenextweb.com/hardfork/2018/08/07/blockchain-voting-west-virginia/
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