Two Largest Enterprise Blockchain Consortiums Partners Together

In their bid to propel the adoption of blockchain technology in the enterprise level, the Enterprise Ethereum Alliance (EEA) and Hyperledger has partnered together with the main aim of accelerating adoption of blockchain technology for business.

The former is a consortium of over 300 members working group led by the open-source Ethereum Technology for blockchain solutions in enterprise while the latter is a cross-industry working group led by the open-source Linux Foundation.

As members of each other’s communities, the leadership both consortiums will have the means to collaborate across Special Interest Groups and Working Groups as well as hundreds and thousands of developers in both communities.

Members of EEA can turn to Hyperledger when working with specifications and standard while Hyperledger members meanwhile can participate in EEA Certification to ensure solutions compliance for projects related to the Enterprise Ethereum Client Specification.

Hong Kong Launches 24x7 Instant Payment System

Hong Kong has recently launched a 24x7 instant payment system to upgrade its retail payments system.

The initiative is dubbed the Faster Payment System (FPS) and was announced by the Hong Kong Monetary Authority (HKMA) two weeks ago.

The new platform will connect banks and stored-valued facilities (SVF) operators and will be operating in real-time round the clock.

Participating in this initiative are about 21 banks including the majority retail banks and 10 SVFs were participating in the project.

This platform enables Hong Kong residents to transfer funds across different banks and participating SVFs in real-time using the mobile number or email address of the recipient, rather than a bank account number.

The system is also reported to support QR codes with the release of HKMA Common QR Code Standard for retail payments and a free mobile app named Hong Kong Common QR Code.

Since the announcement of the platform there have been around 450,000 registrants.

DeVere CEO States Bitcoin On The Verge Of Global Breakout

The CEO and Founder of deVere Group, Nigel Green believes that Bitcoin is on the verge of true global breakout which he predicts to be driven entirely by the fear of missing out (FOMO).

This was revealed by the executive while speaking at the blockchain island nation of Malta’s official blockchain conference, the DELTA Summit.

He also added that there is a growing sense amongst institutions that unless they embrace this sector, their competitors could move way ahead and they might find it difficult to catch up.

Green senses that the rally will begin before the end of the year but is doubtful that it will be able to match the stratospheric rise in the cryptocurrency prices that were experienced last year.

He believes that no matter the price of bitcoin or any other crypto for that matter it will be a matter of time before there will be widespread acceptance of the burgeoning new asset type.

Wyoming Drafting Legislations To Enable Blockchain-Friendly Bank

In its bid to lure blockchain startups in the state, legislators in the Wyoming are currently considering drafting legislation that would allow the creation of a cryptocurrency bank that will be able to serve the needs of the nascent industry.

During a recent blockchain task force meeting, stakeholders discussed draft legislation that would see “special-purpose depository institutions “receive regulatory safe harbor.

The task force meeting was attended by state senators and representatives, as well as a technical appointees including blockchain advocate and Wall Street veteran Caitlin Long.

A cryptocurrency friendly bank would make it easy for cryptocurrency and blockchain firms to operate in the state, as they are currently shunned by traditional financial institutions.

However the proposed bank will not be a bank in the traditional sense since it would not be allowed to give out loans and unexpected loses made by the crypto bank would not be covered by the U.S. Federal Deposit Insurance Corporation.

The proposed crypto bank in Wyoming will be required to ensure that it maintains a cryptocurrency-to-liquid funds ratio of 100% which makes is more likely to be a money warehouse or a transfer institution.

More Stringent Chrome Extension Rules

James Wagner, the manager of Google Chrome extensions division, has outlined some policy changes for extensions offered in the Google Chrome Web Store.

The aim on the revisions for the rules is primarily to narrow down permissions for extensions, and also to make them more transparent.

The new policy includes disallowing obfuscated code in the Chrome Web Store.

Obfuscation conceals the sources code of an extension, making it possible to hide certain functionalities, possibly malicious ones such as those that could be used for cryptojacking.

Developers who has applications with obfuscated are allowed to revise their code for the next 90 days and are required to comply with the new requirements by January 2019.

This recent move by Google highlights the growing threat of cryptojacking in the space, a problem the Chrome Web store in the past have grappled with little success.

The company is hopeful that with this new policy change will help lessen incidents of this type of malware.

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