Happy Halloween! After a weekend of trick or treating, it’s time to swap poltergeists for proof of concepts and vampire bats for bitcoin. If you're still in a candy coma, don’t worry – let us fill you in with what happened in the world of blockchain over the weekend.
- Is blockchain the modern equivalent of the postal service? Wells Fargo and the Commonwealth Bank of Australia have begun sending actual packages using blockchain. What goods were used in this momentous maiden voyage? Well, it was 88 bales of cotton. Not necessarily what you would expect, but the shipment from Texas to Qingdao, China, valued at $35,000 was priceless in terms of its value to the global financial community. Read more here.
- Blockchain could prevent voter fraud. With the upcoming US presidential election on our doorsteps, the poll paranoia has begun. However, those worried about fraudulent ballot papers might want to investigate the benefits of blockchain. Its ability to prevent double spending of digital currencies could also be applied to multiple votes. Read more here.
- European banks risk falling behind America when it comes to blockchain. Speaking of the US, the land of the free is strides ahead when it comes to FinTech compared to its European counterparts, according to Reuters. US financial institutions have moved quickly, while Europe has struggled with the cost-cutting measures since the 2008 crisis. Read more here.
- South Korea invests $2 billion for digital currency. The East Asian nation will provide 3 trillion won ($2.65 billion) in support of its FinTech sector over the course of the next three years. Speaking at the 12th FinTech Center Demo day, the chairman of the Financial Services Commission, Yim Jong-yong said, “The government will push for the systematization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries.” Read more here.
(Sources: Crypto Coin News, Venture Beat, Coin Telegraph)
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