The $11tn blockchain

DTCC blockchain implementation; China scrutinizes bitcoin; blockchain UX, Barclays' strategy View this email in your browser January 9th, 2017 "Tomorrow belongs to those who can hear it coming." – David Bowie Got this from a friend? SUBSCRIBE HERE In what could be the first large-scale implementation of a distributed ledger, the Depository Trust & Clearing Corporation (DTCC) has begun the migration of its $11tn credit derivatives settlement business to blockchain technology. This move affects post-trade processing for all major global derivatives dealers and 2,500 buy-side firms in 70 countries. Over the course of the next year, those involved will work to move settlement to a distributed ledger custom-built by Axoni, with advisement from R3. While IBM will manage the process, the project has benefitted from a wide range of participants, from big-name banks to infrastructure providers. CoinDesk spoke to representatives from the project's main participants, who confirmed the implementation's scope and solidity. Given the size of the project, the deployment will be implemented in phases starting in early 2018.   Read the whole story Tweet Share OUR SPONSOR CoinMall is a marketplace on which you can buy or sell digital goods in exchange for bitcoin. It's globally accessible, includes an escrow service and feedback system, it's fully pseudonymous and there's no risk of fraud or chargebacks thanks to bitcoin. Wait, there's more: China to Restrict Bitcoin Marketing, Blockchain Firms Unaffected More details are emerging about the meetings between the People's Bank of China (PBoC) and leading bitcoin exchanges. Apparently the PBoC is seeking to limit the exchange's bitcoin marketing efforts, while also advising the exchanges to comply with AML and KYC regulations and avoid the use of bots to boost trading volume. Some exchanges and bitcoin startups are downplaying the importance of the warnings, and blockchain firms appear to be unaffected. Read more. Bitcoin in 2016: The Year Politics Challenged Apolitical Money *Year in Review*: Eric Lombrozo, Bitcoin Core developer and CEO of Ciphrex, looks back at a tense couple of years in bitcoin development. He points out that the conflict that arose as a result of the scaling debate was more political than technical, and to some extent inevitable: getting all parties to agree to a fundamental change is especially challenging in a volunteer network. Looking forward to 2017, Eric urges the community to continue to work on the technology and avoid destabilizing scenarios. Read more. What Apple Can Teach Blockchain App Designers for 2017 *Year in Review*: Steve Ehrlich (associate and lead analyst at corporate advisor Spitzberg Partners), Matthias Roebel (CEO of Ming Labs), and Ron Quaranta (chairman of the Wall Street Blockchain Alliance) highlight the relatively poor user experience (UX) of blockchain apps. Following some basic principles of design, they argue, will encourage broader adoption. They argue that good UX is essential for broader adoption, but difficult to achieve, and they urge companies to give it a greater priority early on in development. Read more. Why This is Blockchain's Make or Break Year *Year in Review*: Eric Piscini, blockchain lead for financial services with Deloitte Consulting LLP, urges the industry to move away from proof-of-concepts and towards real-world implementation. To accelerate production, Eric advocates forming small consortia specific to certain use cases. He also argues that the industry needs blockchains with better performance and greater scale, a clearer guide on regulation, more robust security and privacy, and broader education on blockchain uses and benefits. Read more. How Barclays Stole the Blockchain Spotlight in 2016 According to industry analysts, Barclays was one of the most vocal banks in 2016 when it comes to blockchain technology adoption. The bank's work on trade finance (conducting the first live blockchain-based transaction) and smart contracts reveals its intention to use the technology as a competitive differentiator. Whether Barclays will be able to bring its tests to production and scale them remains to be seen. Read more. Indonesia's AML Watchdog Links Bitcoin to Islamic State Indonesian authorities say they have evidence that Islamic State militants are using online money services such as PayPal and bitcoin to send money to domestic operatives. Read more. 2013 to 2017: Comparing Bitcoin's Biggest Price Rallies We compare the bitcoin price rallies of 2013 and 2017, highlighting the similarities and the differences. Read more.   Report: Chinese Regulators Exploring Bitcoin Connection to Capital Flight A report in Tencent Finance claims that the Chinese State Administration of Foreign Exchange is exploring how bitcoin can be used to circumvent capital flight. Further details are not currently available, but we will continue to monitor this story. Read more.   US Department of Energy Seeks Blockchain Research Proposals The US Department of Energy is, for the first time, soliciting research proposals for energy systems that rely on blockchain technology. Read more. The Only 10 Bitcoin Stock Photos You'll Ever See Think the images adorning most articles on bitcoin are starting to look similar? You're right. Read more.   Go to CoinDesk BTC: $901.73 -1.3%  ETH: $10.68 +5.4% @10:00 EST - More price details We're excited to announce that Bitcoin Core developer Cory Fields will be joining us at CONSTRUCT.   Come and hear Cory and other lead blockchain developers, thinkers and influencers share their insight at our invite-only developer conference CONSTRUCT, in San Francisco, USA from January 30-31. Our exclusive talks, panels and workshops will deepen understanding of updates, projects and upcoming news. Want to come? 😎 APPLY TO ATTEND 😎 PRESS RELEASES   06, Jan - Press Release: UNICEF, UK Home Office and BTCC to speak at London Blockchain Week 2017 05, Jan - Press Release: Introducing World's First Bitcoin Marketplace for Digital Goods 05, Jan - Press Release: The Seam to form Cotton Blockchain Consortium with IBM on Hyperledger Fabric Now that the festivities are over for most of us ☹️ and we settle into 2017, let us know what we can do to help you keep up with blockchain and cryptocurrency developments. Just hit "Reply" and drop us a line! Share Tweet Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list