Norwegian Bank Standards Office Plans Blockchain Summit
Bankenes StandardiseringsKontor (BSK), a Norway-based private banking standards body, is planning to unite financial industry stakeholders for a forthcoming meeting on blockchain technology. Founded in 1994 by all the domestic banks, BSK is tasked with establishing and maintaining industry standards for payment systems, IT security and information exchange. Further, BSK's board of directors include representatives from some of the country's largest financial institutions, including DNB and SpareBank. An internal note issued by BSK indicated that, while the organization believes the impact....
Related News
The Brønnøysund Register Center collaborated with EY to open a virtual office in the Decentraland metaverse to reach its next generation of users. The Brønnøysund Register Center, a Norwegian governmental agency, partnered with Big Four accounting firm Ernst & Young (EY) to step into the metaverse with a new virtual office location. The center is responsible for managing numerous public registers for Norway, along with systems for the government’s digital exchange of information. According to the announcement, the agency is choosing to create a metaverse location because the “future users....
Two of the most major Norwegian banks have announced to the public that they will no longer service Bitcoin companies. The "Bitcoin chill" in Norway has caused Norwegian Bitcoin exchange, Justcoin, to close their doors. Justcoin also suffered a Ripple hack earlier this month after a Ripple feature was improperly implemented by the exchange. Both Justcoin and Ripple were able to right themselves to the community; however, it seems that larger powers have ended Justcoin's run. Justcoin won't be the only Norwegian Bitcoin company frozen out by the banks, as revealed by Justcoin founders: "Its....
By acquiring a stake in the holding company that owns Summit National Bank, Nexo plans to expand its financial product offerings in the United States. Digital asset lending platform Nexo has purchased a stake in a holding company that owns a federally chartered bank in the United States — a move Nexo said will enhance its ability to serve retail and institutional clients. Nexo disclosed Tuesday that it had acquired a stake in Hulett Bancorp, a holding company that owns the federally chartered Summit National Bank, which is regulated by the Office of the Comptroller of the Currency. The....
Let's start by stating the obvious – Warnings about the need for blockchain standards are premature and alarmist. It's too early to claim that a lack of standards is hurting blockchain technology adoption, or to call for standards bodies like the International Standards Organization (ISO) to get involved and define what they should be. (Though, there are already groups doing this). The topic of blockchain standards is complicated, and it extends beyond just seeing it as an interoperability challenge. This is because blockchain standards can be divided into three interrelated vectors,....
Creating international blockchain standards will not be an easy feat. Australia is poised to lead the international discussions, as they will act as secretariat of a technical committee. The country has proposed this committee to the International Organization for Standardizations, which approved the idea. But what does all of this even mean for blockchain and cryptocurrency enthusiasts? Global Blockchain Standards Are Coming. Standards Australia is the group that will lead the charge for establishing international blockchain standards. Dr. Bronwyn Evans, CEO of Standards Australia,....