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“# A minister’s look at what regulators expect from the industry ” Regulation is sometimes positioned as the enemy of innovation, an antagonistic force that reduces progress in the name of bureaucracy. However, when implemented sensitively and proportionately, regulation can strengthen a private sector’s reputation by creating the conditions necessary for businesses to focus on…
“# Blockchain adoption 2021: Going mainstream through enterprise use ” American market research company Forrester recently released its blockchain predictions for 2021. The report reveals interesting findings, noting that 2020 has been an important year for growth in the enterprise blockchain and distributed ledger technology space. Martha Bennet, principal analyst at Forrester and a co-author…
“# Nigeria hopes blockchain will generate $10B revenue by 2030 ” The director-general for Nigeria’s National Information Technology Development Agency, or NITDA, has said that the country could potentially expect a revenue stream between $6 billion to 10 billion from blockchain technology in the next ten years. According to a Nov. 5 announcement from the…
“# Hashgraph CTO expects blockchain interest to grow even bigger in 2021 ” In an interview with Cointelegraph, Hedera Hashgraph CTO Leemon Baird said that while interest in blockchain greatly increased in 2020, he expects much bigger things to come in 2021. Baird, who holds a doctorate in computer science from Carnegie Mellon University, explained that…
“# HSBC Bangladesh uses blockchain to import 20,000 tons of fuel oil from Singapore ” The Bangladesh branch of global banking firm HSBC has conducted the country’s first blockchain-based letter of credit (LC) transaction on the Contour DLT platform. The transaction was used to settle the importation of 20,000 tonnes of fuel oil from United…
“# DLT security standards may turn legacy industries into blockchain innovators ” Tokenization has given rise to the “Internet of Value,” an era in which financial assets — or any assets with underlying value — can be easily transferred peer-to-peer over the internet. While revolutionary, tokenization has largely remained a concept embedded strictly within the…
“# Mainstream DeFi is ‘inevitable’: US currency comptroller ” The U.S acting comptroller of the currency, Brian Brooks, predicts th decentralized finance (DeFi) will render many of the financial services offered by banks obsolete, just as email disrupted the postal service. In an interview during DC Fintech Week on Oct. 19, Brooks predicted a not-too-distant…
“# Swiss gov’t starts consultation process for blockchain laws ” Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space. The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three…
“# Billionaire UK newspaper owner calls DeFi technology ‘revolutionary’ ” Alexander Lebedev, the owner of U.K. newspapers Evening Standard and The Independent, along with Russian publication Novaya Gazeta, has spoken glowingly of the potential for cryptocurrency and smart contracts to revolutionize finance. In an extensive 1800 word opinion piece published in The Independent on October…