Blockchain technology news

Turkey plans on creating its own virtual currency and deploying blockchain into government systems. The government financial authority has included a central bank-issued cryptocurrency in its new 2019 –2023 strategic economic roadmap.

Electronic giant LG plans to expand its presence in the blockchain space. The company recently applied to register a new brand name to handle its activities. The new subsidiary will be charged with handling e-wallet for cryptocurrencies. Furthermore, the company’s IT subsidiary recently announced plans for adding food distribution services to its Monachain blockchain.

A giant firm offering investment management services such as mutual funds, annuity management and fund platforms to both private and institutional investors, Fidelity International, is trying to explore Bitcoin, cryptocurrency and blockchain technology further, and this could see Bitcoin gain a lot of traction.

The Swiss global food and drink firm Nestlé has announced a blockchain-based project that will take shape in the Italian food sector starting with milk and palm oil.

The Republic of Cyprus is going to draft blockchain and cryptocurrency regulations this year, according to the Ministry of Finance. Minister Harris Georgiades is optimistic the regulation draft will be completed very soon and will play a big part to revolutionize the finance industry in the country, Financial Mirror reports.

As the world continues to shift from analogue to digital, people have started to go for new innovations that are still unexploited. Now, the health science students from the University of New Haven are trying to explore blockchain technology to solve industry problems. Scientists are working with a giant healthcare firm to test how distributed ledger technology (DLT) could play a significant role to address challenges that are currently hitting the healthcare sector.

The city of Berkeley, California, plans on issuing municipal microbonds based on blockchain technology. The Microbond Initiative is focusing on issuing bonds which are pocket-friendly – minimum of $25 – so that members of the community could directly invest in feasible public projects. The initiative is expected to proceed through a request for data that will invite the sector to bring forth qualified applications.

With all eyes now on revolutionary novelties including blockchain, bitcoin, and distributed ledger technology, the CEO of Goldman Sachs Group, David Solomon, believes blockchain tech is the new wave of the future, according to a recent report by Les Echos, a French daily newspaper.

The Reserve Bank of India (RBI) develops a blockchain-based platform for banking starting with its R&D branch. The distributed ledger tech (DLT) platform is going to host a wide spectrum of blockchain applications beginningovel  in 2020. The blockchain-powered platform will serve financial institutions including banks and will start with the RBI’s R&D branch. The new platform is generally for DLT use case for the government in financial banking.