UBS Sheds New Light on Blockchain Experimentation
Researchers at a UK innovation lab operated by Swiss banking giant UBS are developing a blockchain implementation for settling transactions. As reported by Financial News, the lab, opened earlier this year, is currently at work on a cryptocurrency that would be "linked to real-world currencies and connected to central bank accounts". The project is being undertaken in collaboration with blockchain startup Clearmatics. UBS is reportedly also working with BNY Mellon on other blockchain-related initiatives. BNY Mellon disclosed earlier this year that it had been developing an internal rewards....
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Amazon Web Services will partner with Digital Currency Group (DCG) on a platform that will allow companies to experiment with blockchain technology, according to Forbes. Blockchain providers in DCG’s portfolio will be able to work in a secure environment with financial institutions, enterprise technology companies and insurance companies. A blockchain can make financial services more efficient and more economical. The technology could potentially shrink the financial services industry as the software handles functions that middlemen currently execute. Scott Mullins, AWS head of worldwide....
Researchers at the Federal Reserve have delved into the world of tokenizing real-world assets (RWAs) on blockchain technology. This exploration sheds light on the transformative power of tokenization, emphasizing its potential benefits and financial stability implications. Tokenization, as elucidated in the paper, is the process of creating digital avatars, known as crypto tokens, for non-crypto […]
Amazon Web Services (AWS), the cloud computing business operated by Web commerce giant Amazon, is partnering with investment firm Digital Currency Group (DCG) to offer a blockchain experimentation environment for enterprises. In collaboration with the startups in the DCG portfolio, AWS will provide dedicated cloud infrastructure and technical support for those projects. The startups, along with DCG, will collaborate with enterprise businesses looking to explore and test different blockchain applications. Scott Mullins, head of worldwide financial services business development for AWS, said....