Inshorts

Deloitte reported aggregate network revenue of US$36.8 billion for the fiscal year and 9.5% growth in local currency terms. Earlier, the company expanded its financial services technologies and assets, such as its new Blockchain Lab in Ireland, which enables Deloitte to move quickly from concept to prototype tailored to meet individual client needs.

Brazil’s largest financial exchange BM&FBOVESPA joins the R3 distributed ledger consortium, to work with world's biggest financial institutions on Corda project development. 

“BM&FBOVESPA is researching blockchain-based solutions from a business and IT perspective, and we are pleased to join R3 in the drive to innovate in capital markets,” said Jochen Mielke de Lima, IT Managing Director at BM&FBOVESPA.

Barclays Bank and Wave, a startup that came through the Barclays Accelerator programme, completed the first global trade transaction using Blockchain technology. The transaction between Ornua and the Seychelles Trading Company is the first to have trade documentation handled on the new Wave platform, with funds sent via Swift.

Dorothy Hukill, senator of Florida and chairwoman of the Finance & Tax Committee, offers to recognize bitcoin as money in the US state. According to a report, she is drafting legislation that should balance protections for consumers and startups. Hukill may submit the new bill to the Florida State Senate sometime before 2017.

34 Bytes, a cryptocurrency Point-Of-Sale solutions company, announced it’s adding support for LocalBitcoins.com, to allow merchants to have bitcoin payments sent automatically to their LocalBitcoins account for later trading.

Russia's first accelerator for Blockchain projects, InspiRussia, launches at the University Innopolis of Kazan in collaboration with the Singaporean Life.SREDA Fund. The new accelerator will be interested in FinTech projects, Blockchain technology and Big Data development, cybersecurity, artificial intelligence, and others.

One of the largest banking groups in the Middle East, Emirates NBD, launched its Future Lab, as part of its digital strategy for digital and mobile banking services in the UAE. 

In its first year, it will collaborate with existing partners and clients in the private and public sector, as well as identify fintech innovators to create concepts for prototyping.

The US’ largest credit unions joined together on a new CU Ledger blockchain project, led by the Credit Union National Association (CUNA), Mountain West Credit Union Association, Best Innovation Group, PSCU and other partners. Together they aim to do for the credit union industry what R3 is doing for the banks and to build a ledger network dedicated the needs of these credit unions.

Wang Zhongmin, vice-chairman of the National Council for the Social Security Fund, announced China’s plans to use Blockchain technology in their social security system. This will allow us them to facilitate trade and lower transactions costs. Wang Zhongmin stated: 

"There's no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds."