Tag Archives: smart contracts

Russia’s Sberbank Uses Smart Contract to Settle Three-Way Repo Deal

State-owned Russian bank Sberbank has completed a repurchase agreement, or repo, using blockchain technology. The bank announced Thursday that, with participation from Region Brokerage Company and the country’s National Settlement Depository (NSD), it settled the “world’s first” three-way over-the-counter (OTC) repo using a smart contract. In a repo, securities are sold to an entity, with the seller agreeing to… Read More »

Overstock’s Medici Ventures Acquires Stake in Agricultural Blockchain Firm

Medici Ventures, the blockchain venture arm of Overstock.com Inc., has purchased $2.5 million in equity in agricultural blockchain project GrainChain, according to a press release shared with Cointelegraph Dec. 4. Founded in 2003, GrainChain has developed a blockchain-powered system that enables supply chain parties to track the distribution process of harvests. GrainChain’s blockchain-based financial settlement system allows producers,… Read More »

Major South Korea Tech Holding and ConsenSys Sign MoU to Develop Blockchain Business Hub

South Korean technological holding SK Group has signed a Memorandum of Understanding (MoU) with ConsenSys for blockchain business cooperation, according to a SK Group official press release published today, Dec. 4. SK Holdings C&C is the information technology solutions arm of the SK Group, one of the the largest conglomerates in South Korea. The entity has partnered with… Read More »

Former Ernst & Young Analyst Disillusioned by the Blockchain

A recent article in Barron’s describes Angus Champion de Crespigny, who spent ten years at professional services firm Ernst and Young and led the blockchain financial services division for years and was the subject of the article entitled “This Blockchain Believer Turned Heretic Is Still Bullish On Bitcoin,” as a “major skeptic.” Champion de Crespigny describes The post Former… Read More »

Microsoft Japan Partners With Startup to Increase Domestic Blockchain Uptake

The Japanese arm of computer giant Microsoft has partnered with nascent blockchain startup LayerX to “accelerate” uptake of the technology, Cointelegraph Japan reported Nov. 30. LayerX, which formed in August as a joint venture from news curation app Gunosy and advisory service AnyPay, oversees blockchain integration for enterprise, including areas such as smart contracts and general consulting. Using… Read More »

Simplicity Language to Give Bitcoin Ethereum-Like Smart Contract Capabilities

Simplicity, a combinator-based, typed, and functional language for blockchain applications can reportedly enable Bitcoin’s Script language to handle more complex yet reliable smart contracts. Bitcoin Script Language is Limited, For Now According to a new research from Blockstream on Simplicity – a blockchain applications language – distributed ledgers pose a range of unique challenges, which make traditional programming languages unfit.… Read More »

Smart Contracts Premier Released by US CFTC to Bolster Innovation and Participation in Fintech

While the world has seen some harshness from the SEC towards cryptocurrencies, the other regulatory that looks after commodities in the USA, The Commodity Futures Trading Commission (CFTC) has been quite welcoming. In a recent move to bolster innovation in the space, the CFTC has released premier on smart contracts. CFTC premier makes effort to engage market participants… Read More »

Blockchain Smart Contracts Subject to Financial Laws, Says CFTC Primer

One of the top U.S. financial regulators, the Commodity Futures Trading Commission (CFTC), has released its second guide to understanding smart contracts, with a reminder that the technology is covered under financial rules. Announced Tuesday, the primer is part of agency’s fintech initiative LabCFTC. Described as an “educational tool” rather than official policy, it covers the basics of… Read More »

US Commodities Regulator CFTC Issues Smart Contracts Primer, Outlines Benefits and Risks

The U.S. Commodity Futures Trading Commission (CFTC)’s fintech innovation hub LabCFTC has issued a Primer on Smart Contracts, according to an official announcement Nov. 27. The primer is LabCFTC’s second fintech-educational publication, the first being its October 2017 primer on virtual currencies. As outlined by the lab’s director Daniel Gorfine, the new primer engages with blockchain-enabled smart contract… Read More »