High School Team Places Third in Barclays Blockchain Challenge Event

news If understanding how distributed ledger tech works inside banks is complex, finding ways to make different varieties of enterprise blockchains talk to each other is a doozy of a challenge. And yet, that’s exactly what a team of high school students – soon to sit their A-Level exams in computer science – has done.…

2 Executives Are Leaving Blockchain Startup R3 in Management Shake-Up

news Distributed ledger technology provider R3 has carried out an extensive internal reorganization, resulting in the departure of two members of its management committee, CoinDesk has learned. Brian McNulty, a managing director and head of global services, and Lauren Carroll, chief administrative officer, are leaving the company, R3 told employees at town hall meetings Friday, according…

Stablecoin Issuers May Need Licenses in Texas, Unlike Most Crypto Startups

news Stablecoins may qualify as “money” under Texas law, according to updated guidance from the state Department of Banking. A memo published Wednesday by Texas Banking Commissioner Charles Cooper outlines how cryptocurrencies are to be treated under local and federal regulations, in particular adding details of how stablecoins backed by sovereign, or fiat, currencies may…

Fidelity’s Man: Can Tom Jessop Bridge Crypto and Wall Street for Good?

feature ––––––––––––––––––––––––––––––––– Everyone in cryptocurrency has a story about the time they went down the proverbial rabbit hole. Tom Jessop’s takes place in his kitchen. It was around 2013 or 2014 when Jessop, then a managing director at Goldman Sachs with two decades of Wall Street experience, became enthralled with bitcoin – at the time…

Fidelity’s Man: Can Tom Jessop Bridge Crypto and Wall Street for Good?

feature ––––––––––––––––––––––––––––––––– Everyone in cryptocurrency has a story about the time they went down the proverbial rabbit hole. Tom Jessop’s takes place in his kitchen. It was around 2013 or 2014 when Jessop, then a managing director at Goldman Sachs with two decades of Wall Street experience, became enthralled with bitcoin – at the time…

Bitcoin and Blockchain: Banks Must Embrace or “Bite the Dust”

With all the constant news about the price of Bitcoin, it’s possible to forget what it was invented for. Cryptocurrency trading plays only a small role in what Bitcoin and blockchain technology can do for our world. Most importantly, they can end the hegemony central banks have on the way we make payments to each…

Firm Owned by India’s Richest Man Turns to Blockchain for Trade Finance

Oil and gas conglomerate Reliance Industries – owned by India’s richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction. According to a news release from HSBC India shared with CoinDesk on Sunday, Reliance Industries has recently executed a “live” blockchain-powered trade finance transaction in collaboration with US-based global chemical…

What China’s Cashless Revolution Can Teach the West About Crypto

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Cash appears to be disappearing from China’s teeming cities. Foreign tourists talk of struggling to…

Austrian Government to Notarize $1.3 Billion Bond Auction Using Ethereum

NEWS Sep 27, 2018 at 14:00 UTC The Austrian government is to use the ethereum blockchain to notarize the auction of a government bond worth €1.15 billion, or around $1.3 billion. The Federal Government’s Finance Agency (OeBFA) has assigned banking giant Oesterreichische Kontrollbank (OeKB) to carry out the auction on its behalf on Oct. 2,…