7 Years Ago

Jonny Fry Posted

7 Years Ago |


Do Central banks and governments think Facebook (and other creators of Digital Assets) are stupid or that they do not have the ability to remember, let alone search Google to remind themselves and others of the continued failure of existing banks? It really is not that hard for one to spend two minutes on the internet and find example after example of fines sanctions, staff sackings and judicial criticism being levied against the so called reputable, safe, well-regulated and trustworthy banks. The two main reasons for having financial regulation is:
 
1.    To maintain confidence in the financial system
2.    To treat customers fairly
 
Having confidence...


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Jonny Fry Posted

7 Years Ago |
Converting gift cards and loyalty scheme rewards to Bitcoin


The gift card market is reported to be going to grow by over 15% p.a. in the next four years from $585,311 million to over $1,591,461 million according to Allied market Research. As more retailers understand the benefits of such schemes and as increasingly such schemes migrate to become digital using mobile phones. Given the growth in e-commerce and the demand for cashless payments gift cards are increasingly being used. However, it is possible to convert gift cards in to Cryptocurrencies like Bitcoin.
 
Given some gift cards have an expiry date, if you...


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Jonny Fry Posted

7 Years Ago |
Facebook set to bring 2.3 billion users to Digital Assets

Facebook is looking to establish an independent governing body for its new Digital currency – project Libra. The new Facebook coin will be pegged to a basket of different currencies i.e. Yen, $, £, € etc. Facebook is looking to establish a foundation to oversee the governance, by selling positions to a 100 different organisations which will be on the governing body, which itself, will over-see the Digital Asset. According to Blockcrypto, the initial members will all pay $10million and include:( see attached image) Source:www.theblockcrypto.com

Interestingly, the majority of the above proposed members...


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Jonny Fry Posted

7 Years Ago |
Japanese shops and transport companies look to offer digital payment options

Japanese railways are looking to go cashless and potentially introduce payments using Crypto currencies.The Japanese equivalent to Amazon, Ratkenhas announced that it is going to provide the technology to help East Japan railway’s customers pay digitally, as opposed to using cash.
The Japanese government has been trying to encourage its citizens to use less cash and increase the amount people pay using digital methods to 40%. Currently 20% of transactionsin the Japanese economy are paid digitally, compared to South Korea where 89% of transactions are paid digitally, and in China the...


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Jonny Fry Posted

7 Years Ago |
BP using Blockchain technology in the power sector

Julian Gray, Technology Director in the Digital Innovation Organisation department in BP, told a packed room at the Blockchain Expo conference in Amsterdam this week that BP are looking to be a “Digital Energy Company”. Julian said that BP think of Blockchain in just five words-

“Trusting People Over The Internet”

He spoke about a number of projects BP are involved in, that use Blockchain technology.

Continuing with the theme of “Collaborative capitalism”(i.e like LVMH for luxury goods and Maersk’s Tradlens for the shipping industry), BP has invested and helped develop a Blockchain-powered, commodity trading platform,...


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Jonny Fry Posted

7 Years Ago |
How Russia could benefit from considers Digital Assets

The Chair of Russia’s Central Bank, Elvira Nabiullina, has admitted that various central banks are investigating the possibility of issuing a Central Bank-backed Digital Currency. The general stance in Russia towards Digital Currencies seems to be softening, as it had been very anti these assets. It was only just last week in Russia the Central Bank admitted that it would consider using a Cryptocurrency, backed by gold, for international settlements. Russia currently holds over $492 billion of goldwhich, if Digitised, some could be used to settle outstanding international debts and be a way...


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Jonny Fry Posted

7 Years Ago |
Take two - Kodak is back!
 
In January 2018, KodakOne announced that it was going to launch the Kodak coin and, as a result, Kodak Inc share price went up 120%.The basic idea behind KodakCoin is to use Blockchain technology to help photographers manage their photos by creating permanent, immutable records of ownership. It was believed that KodakOne would make it significantly cheaper and faster to register and sell digital images. The Platform was said to offer a simple, transparent Blockchain-powered worldwide royalty accounting, licensing and payment system. The KodakCoin was never a part of Kodak Inc, but was a separate...


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Jonny Fry Posted

7 Years Ago |
Will regulators and compliance drive tokenisation of assets?
There are a number of organisations trying to convince investors of the merits of Tokenising different assets classes, on the basis that once it is possible to buy a fraction/share in a property or piece of art or a car etc, it will enable smaller investors to participate and create a pool of liquidity. While this sounds very plausible in practice, illiquid assets such as art, property and classic cars tend to be the preserve of the very wealthy or institutional investors. These asset classes usually have little day to day liquidity, as...


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Jonny Fry Posted

7 Years Ago |
Custody services for Digital Assets is becoming a reality!
 
In order for institutions to be fully engaged with Digital Assets, they are going to need a third party to look after their assets - a role which has historically been provided by custodians.The regulators in most jurisdictions insist that the organisations that manage your funds have to be independent from the entity that physically looks after the assets. The good news is that the options and choices for those looking for custody solutions for their Digital Assets continues to evolve. Metaco has announced that it is using Aon(the world’s second largest...


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Jonny Fry Posted

7 Years Ago |
If you would like to come to a conference 6/6/19 in Amsterdam on Tokenizing Assets TeamBlockchain have managed to get some free tickets to this event.Please use this link to register: https://www.meetup.com/ICO-Meetup-London/events/261996474/

Jonny Fry Posted

7 Years Ago |
Major shipping firms join a Blockchain-powered supply chain and logistics platform
 
The United Nations, in 1996, established the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT). UN/CEFACT was mandated to find ways to improve global co-ordination and co-operation in trade facilitation and electronic business standards.
Its main priority continues to encourage interoperability: simplifying exchange of information up and down the supply chain, including commercial and governmental processes. TradeLenshas tried to digitise the written standards that UN/CEFACT created, as it has striven to harness Blockchain technology to bring greater traceability and transparency to international shipping of goods. It processes over 10...


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Jonny Fry Posted

7 Years Ago |
“Lord Voldermort” ends up in a Singapore prison

Wherever there is money to be made, it seems there is always someone who wants to carry out “dodgy dealings”, and unfortunately this does not help the public’s perception about Cryptocurrencies. Law courts globally continue to hand out prison sentences to people who have some form of involvement with Cryptos and, while some of the nefarious activities are clearly criminal, some of those perpetrators are indeed extraordinary.
Take Mr Ye Lin Myint who was jailed for two years in Singapore, as he admitted criminal intimidation and harassment against a multitude of people. The 36-year-old...


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Joined 7th February 2019