Blockchain and Bitcoin round-up: 30 November 2017
Coming straight after yesterday’s (29 November) fun and games, here’s another quick summary of the blockchain and Bitcoin action. Features the European Central Bank, Tieto, Coinsilium Group and StartupToken.
Well, Bitcoin went past $11,000. And then dropped. As you read this it will have changed again. So, opinions are aplenty. And… banks should speed up the introduction of instant payments, to combat the allure of digital currencies such as Bitcoin, says Yves Mersch, European Central Bank (ECB) executive board director.
According to Reuters, at an event in Rome, Mersch was dismissive of these digital tokens but he urged commercial banks to provide an alternative: “Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes.” Mersch cited central banks such as Sweden’s Riksbank and the Bank of England, who are looking at the merits of introducing their own digital currency. Mersch says the ECB would “experiment with cash on different digital technologies” but did not see scope for “adventurous applications” of such technology.
Tieto has established a blockchain pilot programme in the Nordics – to introduce a global identity network for digital interactions. It will offer consulting and full stack services through an ecosystem of partners. One of the first steps is to introduce a global identity network for Nordic customers together with Evernym – a developer of self-sovereign identity technologies.
Its blockchain solutions unit will initially focus on digital identity, personal data, digital ownership and supply chain related use cases enabled by technologies such as Sovrin (Hyperledger Indy), Hyperledger Fabric and Ethereum.
Coinsilium Group, a “blockchain venture builder” and investor, has acquired a 30% equity stake in StartupToken, a provider of accelerator and advisory services to tech start-ups and companies looking to undertake token generation events (TGEs) aka initial coin offerings (ICOs).
StartupToken is a Gibraltar registered company and has been actively trading since May 2017. It states it has generated revenues from consultancy fees and the organisation of token sale roadshows of $226,000 with “projected success fees” from current clients of between $809,510 and $3,393,005 equivalent.