Nine Blockchain Firms Get Free Ride by Regulators to Test Their Ideas in the UK
Nine Blockchain technology-related firms have been accepted into the UK Financial Conduct Authority’s (FCA) regulatory sandbox, which enables them to test out their innovative ideas without immediately incurring all the normal regulatory consequences. 24 applications were deemed fit to meet the sandbox eligibility criteria and were accepted out of 69 to develop towards testing, including early stage start-ups, challengers and incumbent firms. Earlier this year, the FCA signed a cooperation agreement with the Australian Securities and Investments Commission, to be the first time anywhere in....
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A number of banks and financial firms have completed a long-running blockchain test involving a smart contract prototype developed by blockchain firm Axoni, for equity swaps. Following months of testing, enterprise blockchain solutions firm Axoni has revealed a long-running blockchain test processing over-the-counter (OTC) equity swaps. Participating banks include JP Morgan, Citi, Credit Suisse and Barclays. Financial support industry firms IHS Markit and Thomson Reuters, along with consultancy firm Capco also took part in the test. Fortnightly meetings were conducted among participants....
The city of Portsmouth, New Hampshire passed an ordinance regulating ride-sharing services that took effect in September of 2015. The ordinance made driving with Uber and other ride-sharing companies illegal within the city limits. Christopher David, a former Uber driver, launched the Free Uber campaign using Bitcoin prize pools to incentivize activism protesting the ordinance. Now, in the wake of protests by Uber drivers over the company’s decision to cut fares, David is launching his own blockchain-based ride-sharing platform, Arcade City. To promote the new platform, he and nine other....
Decentralized Taxi Service, Uber, has confirmed that they have been working on integrating Bitcoin payments and will soon launch the update. Uber has taken the transportation industry by storm since their launch a few years ago. By allowing drivers to pick their own hours and work as free lancers for the company, Uber has quickly grown to be a very popular option for many urban areas. Uber, much like Bitcoin, empowers the users and allows customers to quickly find a ride, see how much that ride will cost, and pay for the ride (with the ability to split cab fare with friends) all with their....
Five major European insurance and reinsurance companies have partnered on a new blockchain initiative, seeking a potential new path for delivering faster and secure client services. The project, dubbed the Blockchain Insurance Industry Initiative, or B3i, is aimed at providing a meeting ground for the companies to exchange ideas, test use cases and pursue concepts that could ultimately reshape how they deliver insurance services. The firms taking part are Allianz, Aegon, Munich Re, Swiss Re and Zurich, constituting some of the biggest companies of their kind in the region. The group is the....