Mizuho Launches Two Blockchain Endeavors
Mizuho Financial Group (MFG) announced this week that it is pursuing two projects involving blockchain technology. The ventures include a partnership with Cognizant to pursue blockchain record-keeping solutions for use by MFG enterprises, and an effort to collaborate with three other Japanese firms in a project that utilizes Microsoft Azure’s BaaS.
The Tokyo-based financial giant reportedly serves one-fifth of all Japanese citizens, and claims assets in excess of one and a half trillion dollars. The announced plans are part of the company’s stated strategic goal of leading the way in blockchain technology acceptance throughout Japan.
Mediachain Protocol Offers Promise of Digital Content Rights Database
A new metadata protocol called Mediachain may finally help digital content creators resolve one of the most pressing online challenges they face: developing and managing a system to protect their digital work. The new protocol relies on blockchain technology to provide the sort of time-stamped metadata content needs if ownership rights are to be maintained.
Mediachain’s initial focus has been directed toward image data management, a process that not only provides creators the ability to attack identifiers to their work, but also permits users to locate creator information. The ultimate goal is to provide the foundational layer for identity verification that others can use to build the types of distribution platforms that could make it easier for creators to monetize their digital works.
New European Central Bank Report Explains New Interest in Blockchain
A growing number of central banks around the world are now showing more interest in the potential benefits offered by the blockchain, and the European Central Bank apparently shares their optimism. I a new report released by the ECB this week, the central bank revealed that it is now conducting blockchain tests in an attempt to enhance the security of its payment systems.
That report, Eurosystem's Vision for the Future of Europe’s Financial Market Infrastructure, explores everything from the technological, functional, and business opportunities currently on the horizon to the need for further examination of how technologies like distributed ledgers could help to revolutionize banking services.
Factom Partners with China’s Ancun Zhengxin for Blockchain Notary service
Factom is reportedly partnering with Chinese data notarization firm Ancun Zhengxin to create a customized blockchain-based notary solution for use throughout China. The Chinese company currently services 28 of China’s 34 provinces, providing services in a total of 100 locations.
Factom is a recognized blockchain solutions expert, and will bring its expertise to bear in the development of a blockchain-based interface designed to help Ancun Zhengxin achieve increased accountability and transparency, as well as lower costs for its notary services.
UK FCA: No Blockchain Regulation for Now
Citing the need to give blockchain technology the freedom it needs to grow and develop, the United Kingdom’s Financial Conduct Authority (FCA) announced that it has no current plans to begin regulation of the industry. The Authority’s Director of Strategy and Competition, Christopher Woolard, made that announcement earlier this week at London FinTech Week.
Woolard did acknowledge that the FCA will at some point have to examine various consumer issues and regulatory concerns once the technology has had time to evolve. For now, however, the FCA plans to monitor progress with the technology to see what path its development takes.
ISITC Believes Blockchain Evolution to Become Clearer within Eighteen Months
According to recent statements by executives with the International Securities Association for Institutional Trade Communication (ISITC) – an association dedicated to the promotion of greater efficiency for securities trading, the investment world should have a much clearer picture of the blockchain’s impact sometime within the next twelve to eighteen months.
One official, Nigel Solkhon of Citi in London, notes that this emerging technology is growing and developing very rapidly, in no small measure due to the large amount of research investment the industry has received. These recent statements come on the heels of the organization’s first blockchain technology gathering, which was held last week in London.