Blockchain and Bitcoin round-up: 6 February 2018
Hot on the heels of yesterday’s (5 February) blockchain and Bitcoin round-up, here are more dynamic developments. Features Virgin Money, Tech Bureau, Japan Net Bank, Waves Platform and Tokenomy.
Following on from the bans by Lloyds and others in yesterday’s round-up, Virgin Money has joined the crowd and is stopping its customers from buying digital currencies with their credit cards (but debit cards are fine). A Virgin Money spokesperson explains: “Following a review of our policies, I can confirm customers will no longer be able to use their Virgin Money credit card to purchase crypto-currencies.” Well, we did say yesterday that “this list may well get longer”.
Bitcoin is also taking a battering. Today, its value has fallen below $6,000 – the lowest since mid-November. As a reminder, at the start of 2017 it was around $900 and reached the giddy heights of $20,000 in December.
In Japan, Tech Bureau, a cryptocurrency solutions company, has revealed a proof of concept (PoC) project with Japan Net Bank, called the “very first online bank in Japan”. (You can drop “very” by the way.) The main aim of the PoC is to ascertain the practicality of employing blockchain technologies, Mijin (developed by Tech Bureau) and Hyperledger, in a paperless system for contract administration.
The firms say a key specification for their PoC is an “unfalsifiable history of file views, edits, approvals, and rejections”. To give you more details, the overall objective is to get technology exchange and create a linkage between the two technologies. They say through the registration of unique hashes and the logging of data such as edits on both Mijin and Hyperledger, regardless of the system the data is entered on first, data is secured in the event of a blockchain failure. Other objectives are the usual “high scalability and security”. The PoC starts today and is scheduled to be completed with a project review meeting on 30 March 2018.
Moscow-based Waves Platform is collaborating with Indonesian initiative Tokenomy as they target new opportunities. Their partnership has just completed the final stage of its $20 million crowdfund – selling 40,000 tokens for over $2 million in three hours. Waves says this will enable compliant blockchain integration for large corporations in the region, “opening up the vast Southeast Asian market for the custom tokens platform”.
Tokenomy CEO Oscar Darmawan says it likes the “simplicity of Waves, since people can easily generate secure tokens and make fast transactions” and smart contracts “will be active on Waves soon, and I see this is as a very valuable function for Tokenomy”. Waves CEO Sasha Ivanov adds: “Blockchain tokens may be used as a frictionless payment mechanism, or as a way to access certain services, prove ownership, share sensitive data securely, and so on. The use cases are far, far broader than online cash and crowdfunding.”