Tokenisation: Solving traditional blockchain problems and enticing traditional finance

The long and winding road of blockchain technology adoption has been sometimes tremendous, other times turbulent. If the winds of change are heading in any particular direction right now for the enterprise, however, it appears to be towards tokenisation for real world assets.

Citi and JP Morgan are among the financial institutions looking in this direction – and now we can add BlackRock to that list. The company unveiled its first tokenised fund issued on a public blockchain –...

Goldman Sachs, BNY Mellon take part in Canton Network pilot

Goldman Sachs and BNY Mellon were among the participants in a pilot for Digital Asset’s Canton Network, which has been deemed a success in regard to tokenised assets and enterprise blockchain.

A total of 155 participants, across 45 major organisations, demonstrated settlement across 22 permissioned blockchains connected on the Canton Network, while maintaining the controls required for regulated capital markets, as Digital Asset noted.

Participants ranged from asset...

George Osborne joins Coinbase in advisory role

Former UK chancellor of the exchequer George Osborne has joined US crypto provider Coinbase as part of the firm’s global advisory council.

The advisory council is aimed at informing Coinbase’s global strategy. Recent licenses have been secured in France, Singapore, Spain, and Bermuda, as well as expanding access to Coinbase products across 20 African countries.

Closer to home however, Coinbase is facing scrutiny from US regulators. The Securities and Exchange...

Nebraska and Missouri introduce Blockchain Basics Act – with more states set to follow suit

The legislatures of Nebraska and Missouri have introduced prospective bills which relate to the protection of digital assets rights – and a further 11 states are expected to bring in similar regulations in the coming year.

The Blockchain Basics Act is part of the work of the Satoshi Action Fund, a non-profit organisation whose mission is to ‘educate policymakers and regulators on the benefits of Bitcoin mining.’ The policy provides ‘protection for Bitcoin and digital...

HSBC offers tokenised gold, trials tokenised deposits with Ant blockchain

HSBC

A couple of updates from HSBC have hit the wires: the bank has moved to tokenise ownership of physical gold through blockchain technology, as well as trialling tokenised deposits to enable corporate clients to move money across multiple accounts.

The tokenisation of gold in the bank’s London vault will see a digital twin created of an existing asset. Each token represents 0.001 troy ounce and can be traded on trading platform HSBC Evolve. Mark Williamson, global head of FX and...

Vodafone and Chainlink offer PoC for blockchain trade solution

Vodafone’s digital asset broker (DAB) has demonstrated a proof of concept (PoC) in concert with three other companies which claims to show the potential for blockchain technologies in the global trade ecosystem.

The demonstration, alongside Chainlink Labs, consultants InnoWave, and trading company Sumitomo, focused on the ‘seamless exchange of crucial trade documents across diverse platforms and blockchains’, as Vodafone put it.

The technology underpinning the demo...

Kayak makes blockchain push with new enterprise corporate travel offering

Travel search engine Kayak is dipping its toe into the water for corporate travel for large companies – and is looking to eliminate expense reporting for flights with a solution built on blockchain technology.

The company launched its free Kayak for Business tool in 2020 for small- and medium-sized organisations, with a full launch coming a year later. Yet the enterprise-focused solution – which understandably carries a much bigger prize – has come about through a...

Celo touts Google Cloud win, confirms move to Ethereum layer-2 solution

Google bans cryptocurrency

The Celo Foundation, provider of a carbon-negative, Ethereum virtual machine-compatible (EVM) blockchain ecosystem, has announced that Google Cloud is running a validator on its network.

A validator participates in the running of the blockchain and helps maintain its security by staking their own crypto to support the network, and validating new transactions. Google Cloud joins contributors such as Deutsche Telekom – T-Systems is ranked as one of the top 10 validator groups –...

Researchers bet on blockchain to help protect cultural artifacts

A new project has launched which aims to use blockchain technologies and NFTs to help verify the provenance of cultural artifacts.

The project, called Salsal – or AGUR – is the brainchild of Adel Khalifi, professor of computer science at the University of Abu Dhabi, and Mark Altaweel, professor at the UCL institute of archaeology.

Salsal is aimed at cultural heritage collectors, such as museums. They, the ‘collector’, uploads a collection and submits it for...

Deloitte and Chainalysis team up to bolster digital asset compliance for clients

Deloitte and blockchain data platform Chainalysis are collaborating to help mutual clients address compliance challenges within their digital asset ecosystems.

The two companies have announced a strategic alliance to meet market demand for risk management technology solutions and services. The partnership will combine Deloitte’s services, which help organisations manage forensic, investigative and compliance programs, with the Chainalysis platform and proprietary blockchain...