More Higher Education Institution Joining Ripple Blockchain Research Initiative

It has been revealed that the University of Luxembourg has joined the University Blockchain Research Initiative which is a multi-year, multi-million-euro research program that is backed by blockchain and financetech startup Ripple.

The main aim of the project is to allow research to form the network communications required for micropayments.

The lead researcher at the University’s Interdisciplinary Centre for Security, Relliability and Trust (SnT), Prof. Radu State, says that there is no cost effective and practical way for people to pay for services online this is what his team is trying to solve.

The professor plants to make micropayments a reality via Interledger, an open suite of protocols for sending money directly over the internet, irrespective of currency.

According to Evan Swartz, Xpring lead engineer and Interledger Protocol co-inventor, the team at the University of Luxembourg is working on core research topics to enable individual to send payments over the internet and he believes that the team as the unique combination of experience in traditional computer networking and blockchain technologies to be able to do this.

J.P. Morgan To Release New Interbank Information Network Feature In Q3 2019

The world’s largest bank has been carefully monitoring the fintech landscape over the years and has engaged on many technologies that many considered will the whole industry.

As such it has been actively following developments in fintech, particularly the emergence of blockchain technology in which it reacted by creating its own distributed ledger technology, Quorum, that is backed by Ethereum.

In addition the bank launched a pilot called Interbank Information Network (IIN) based on Quotum that will interconnect 75 banks around the world solving various issues which may delay financial transactions and make their operations faster and cost efficient.

Currently the IIN has more thatn 200 banking institutions and as revealed by John Hunter, head of global clearing at J.P. Morgan, it has created a new feature which would allow verifying payments in real time.

The new feature is set to launch in the Q3 of this year and is designed to work with domestic and trans-border financial transactions.

U.S. Defense Contractor Awarded With Blockchain Patent

It has been recently been reported that one of the U.S. defense contractor has been awarded a blockchain-related patent by the United States Patent and Trademark Office (USPTO) according to document published on its website on April 16, 2019.

According to the published document Forcepoint, a Texas-based cybersecurity company has been awarded a patent for a system that is described as a complex user behavior monitoring and management system which some version of the system to use blockchain technology.

The system is aimed to store data about electronically-observable user interactions and then use this data to identify known good, anomalous and malevolent user actions to enhance cybersecurity.

The data gathered in this system will be compared or stored via a blockchain block within a user behavior profile blockchain, leveraging the technology’s immutability and tamper-evident capabilities.

This showcases some of the most innovative use cases of blockchain technology, it also shows that blockchain’s use cases is not limited to fintech but goes beyond this.

New Crypto And Fintech Regulations In Chile

According to an online news report the government of Chile has recently introduced a bill regulating cryptocurrencies and fintech to congress.

This was announced by Minister of Finance of the Chilean government, Felipe Larrain.

Larrain reveals that the requirements introduced in the new regulations will be proportional to the business which will take into account the various companies different business models and risk levels.

The government of Chile has been very flexible in dealing with cryptocurrencies regulations and it seems that they are taking a progressive approach with dealing with the nascent industry.

While the government has been very receptive to the notion of blockchain technology and cryptocurrencies authorities still warned the public about the risk involved when dealing with this kind of asset.

Zaif To Resume operations After 7 Months

After several months of inactivity, the Japanese exchange Zaif will resume of operations.

According to online news report the company that is behind the exchange, Tech Bureau, will transfer its business to Fisco Digital Asset(FDAG) and will become effective april 22, 2019.

This was the first time the exchange will open after it was hacked last September of last year which saw it losing Bitcoin (, Bitcoin Cash(BCH), and Monacoin (MONA) with a total cause of around %59.8 million.

Part of the compensation plan for those whose account was hacked, FDAG provided support for 5 billion yen (over $44.6 million) to Tech Bureau and acquired a majority stake

Users of the exchanges will be repaid 40% in fiat currency and 60% in crypot which will commence on April 23, 2019.

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