Major foreign exchange players in Japan are gearing up to enter the cryptocurrency market.
That, at least, was the consensus at a gathering in New York last week of representatives of Japan's blockchain ecosystem.
The catalyst, they explained, is the upcoming activation in April of a law that will regulate cryptocurrencies. Once that happens, the insiders expect the large forex incumbents to launch new cryptocurrency-based services aimed at broadening their market.
The imminent entrance of new, big players seems to have confirmed to both cryptocurrency startups and enterprise blockchain teams that a change in strategy is necessary.
In a bid to strengthen their respective business models, representatives at the gathering were in the US with the aim of forming international affiliations and exploring the development of additional services. All appear to agree that the increased regulation, competition and attention is welcome.
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What's in a Name? From Bitcoin to Blockchain to Distributed Ledgers *Opinion*: Blockchain, distributed ledger, shared ledger... Attorney Nelson M Rosario ponders why we have developed so many terms for what is effectively the same technology – bitcoin. Read more.
Are Bitcoin Traders Planning for an ETF Approval? CoinDesk spoke to market analysts on expectations for the upcoming ruling on the Winklevoss ETF. Most agree that traders seem to be pricing in approval. In a related piece, CoinDesk contributor Willy Woo explores how the bitcoin market might react if approval is granted. Read more here and here.
Matchpool Will Pay You Cryptocurrency If You Help Your Friends Find Love With Valentine's Day just around the corner, CoinDesk spoke to the founder and CEO of Matchpool, a blockchain-based dating service that aims to combine traditional matchmaking with incentivized decentralization. Rather than the traditional focus on individual profiles, the platform relies on mutual contacts, smart contracts and cryptocurrency rewards. Read more.
Tokens For Time: BNY's Blockchain Lead Explores Concept With New Pet Project CoinDesk spoke to Alex Batlin, global blockchain lead for BNY Mellon, about his side ethereum project: a tradeable token that grants the holder one hour of his time. At its heart, Batlin explained, is a way to rethink lending – receiving a sum up front in exchange for a claim on future earnings. Read more.
A Bitcoin Hard Fork? The Science of Contentious Code is Advancing Although a hard fork on the bitcoin network remains controversial, developers are probing deeper into how it could be best executed, in case one becomes necessary in the future. Read more.
Deutsche Bank Analyst: Blockchain Could Have Prevented Soros Investment Leaks The accidental leak last month by a Dutch regulator of sensitive information has highlighted the potential impact of blockchain technology on financial transactions. CoinDesk spoke to an analyst from Deutsche Bank on how using the blockchain to secure information can both help protect investors' confidentiality, and assist regulators with transparency and enforcement. Read more.
Blockchain is 5 Years From Mainstream, Post-Trade Consortium Members Say In a survey published today by the Post-Trade Distributed Ledger consortium, nearly half of the participants see a three-to-five-year timeline for broader industry adoption. Nearly 30% estimate an even shorter time scale. Read more.
International Securities Regulators Publish Blockchain Research The paper, published by IOSCO last week, comes just under a year after the cooperative group declared its intention to study blockchain more closely. The topics covered include a broad overview of blockchain approaches, and the barriers to adoption facing the securities industry. Read more.
Illinois Legislator Calls for Blockchain Working Group A house resolution was filed last week that, if passed, would establish a group to investigate how state and local-level governments can use blockchain technology. A consortium of government agencies in the state has already undertaken similar work. Read more.
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GENESIS TRADING - Research Associate
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