Blockchain Weekly Recap 4-30-2016
EdgeVerve Introduces Developer Suite for Banks
Infosys product subsidiary EdgeVerve Systems recently announced the release of the EdgeVerve Blockchain Framework, designed to offer blockchain-based solutions for the banking industry. The framework is a ledger developed to assist banks with the process of quickly implementing blockchain services, complete with the scalability financial institutions need to manage a host of international transactions.
According to the release, the new product offering will provide banks with the capabilities they need to build applications that will be more efficient, secure, accurate, and cost-effective than the systems currently in use throughout the banking industry. Moreover, the Framework is designed to be “asset agnostic” – meaning that firms that use the product will be able to deal with a variety of asset types without the need for multiple networks.
Credits Partners with Skyscape to Bring BaaS to UK Public Sector
Blockchain infrastructure firm Credits has joined with Skyscape Cloud Services Limited in a partnership designed to bring Blockchain-as-a-Service to public sector organizations in the United Kingdom. The move will provide those organizations with the ability to quickly develop their own blockchain networks by using the Credits platform. Those full-featured ledger systems will be able to track origin and chain of custody, while providing the reconciliation and authentication features public sector entities need to service their customers.
UK Government Paying Tramonex to Develop Blockchain Foreign Exchange Platform
As part of the UK Government’s Innovate UK FinTech investment initiative, £248,000 is being provided to London blockchain development company Tramonex to fund the development of a blockchain-based foreign exchange remittance solution. The plan calls for the creation of a platform capable of executing completely automated foreign exchange transfers, with all of the requisite Know-your-Customer and Anti-Money Laundering capabilities needed for regulatory compliance.
Tramonex has already developed a proof-of-concept, and will use the investment money to complete that platform and enhance its capabilities. That money will be provided in quarterly increments as various defined benchmarks are met, and the platform will only be made available for commercial use after the company has successfully proven its effectiveness in a demonstration to the UK Financial Conduct Authority. If successful, the system could save businesses an estimated 10% of the cost of every forex transaction made.
Computershare Unveils New Blockchain-based Register Platform
Australia-based Computershare has partnered with UK blockchain firm SETL to develop a blockchain securities register that will be introduced in Australia. This announcement came at a company investor briefing that saw CEO Stuart Irving assert that Computershare is well-positioned to leverage these new technologies and benefit from the innovation they will bring to the marketplace. That meeting also included a demonstration for investors that highlighted the new register platform’s promising features.
The company is on record as envisioning a new securities trading paradigm that would eliminate traditional clearing and settlement processes, connecting traders directly to the securities register. SETL research has indicated that the securities industry could realize cost-saving benefits of as much as $80 billion from the implementation of blockchain technology.
Libertarians Choose Blockchain Election System for NY State Convention
As the U.S. election primaries continue to roll along, one political party has decided to handle its candidate nomination process in a somewhat different manner. The New York Libertarian Party (NYLP) has selected Blockchain Technologies Corporation’s voting platform for use in its New York State Convention this weekend. The company has some experience with these conventions, having just provided similar services to the Libertarian Party of Texas a few weeks ago.
Blockchain voting solutions have been heralded in recent months for their ability to provide the type of secured but transparent ballot records that many voters say they want. Confidence in the American election system has been on the decline over the last several decades, and that makes blockchain solutions look even more enticing due to their ability to secure time-stamped voting records that would prevent most types of election tampering and other fraud.