Inshorts

Kalin Anev Janse, Secretary General of the European Stabilization Mechanism (ESM), spoke about the advisability of implementing blockchain technology in the work of the fund. ESM provides loans to states, including Cyprus and Greece, in more than € 100 billion, out of a total budget of € 500 billion. In this regard, Zhans suggested creating a blockchain-based platform for loans and repayment of ESM debts.

French crypto community has optimistic expectations about Macron’s financial policy. While he himself hasn’t stated his position clearly, many experts know him as a very pro-tech president, and believe he will support new-startups of the cryptocurrency industry. According to the survey conducted by CoinIdol news outlet, French crypto industry expect that Macron will promote wider adoption of Bitcoin in the country.

Read more: Cryptocurrency Market Players Looking Forward to Macron’s New Policy

Japanese banking giant enters the age of cashless payments. Japanese megabank MUFG is set to position a major credit card unit into a hub for digital currencies and payments in preparation for a societal shift to cashless payments through digital currencies and digital wallets. According to a Nikkei report,the transaction will take place as early as this year.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.

US Congress-Supported nonprofit organization will test Blockchain for audit purposes. Jeanette M. Franzel, a board member of the Public Company Accounting Oversight Board (PCAOB), a nonprofit organization established by Congress to oversee the audits of public companies, recently noted that Blockchain technology could drastically enhance, optimize and improve financial reporting and auditing. In the upcoming months, the PCAOB will fund various interdisciplinary initiatives to evaluate technologies that could be used to raise auditing standards and inspections.

Ethereum price suddenly jumped. Value of cryptocurrency has grown from $90 to some $94, on the 15th of May. Although Ether has been moving sideways for the past five days, experts say that this remarkable growth may be a potential bull run leading to the point of $100.

The UK’s national land registry is looking to test blockchain technology. HM Land Registry revealed the details of a so-called 'Digital Street', eyeing blockchain as a possible solution. The department will begin a live test of a 'Digital Street' in the near future, which would enable the ownership of property to be changed close to instantaneously. The system would also allow Land Registry to hold more granular data than is possible at present.

Bitcoin scaling solution is urgently needed to process transactions more efficiently. Bitcoin network’s mempool, the area for all pending and unconfirmed transactions, achieved an all-time high size of 119 megabytes. That means many transactions were left unconfirmed and weren’t broadcasted to the Bitcoin Blockchain. The bitcoin blocksize issue also needs to be solved, as the average size of Bitcoin blocks increased to around 988 KB, getting closer to the Bitcoin network’s 1 MB cap.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

Financial Services Development Council has urged the Hong Kong government to recognize digital currencies and invest in blockchain technology development. The advisory group's report reads that the development of Hong Kong’s FinTech on a par with its mainstream finance will secure a better future for the financial sector and for Hong Kong as a whole. The advisory group also recommends to define the rights and obligations attaching to digital assets and liabilities, and establish an appropriate oversight regime.