Inshorts

Andres Martín-López launches Blokur, a music rights management company that uses Ethereum blockchain. The task of Blokur is to make musicians get money in proportion to the share that belongs to them in the song. The best way to do this is to record the rights to music in the blockchain system, says Martin-Lopez. Blokur will also track the percentage of each rightholder of a certain piece of music, paying for it directly, using cryptocurrency. Now Blokur works with 3000 musicians and 10 000 songwriters. A team of five collaborates with bands such as Radiohead and Imogen Heap. Currently, the company is negotiating "with several major publishers dealing with the rights of societies and artists" and collects data from the first users on how to improve the platform.

Inventory tracking system via blockchain. US Bureau of Fiscal Services of Treasury recently announced blockchain pilot testing for tracking inventory. The Bureau also announced to employed an expert to the team for prototype. According to the pilot test, the Bureau will examine whether the physical inventory will be monitored and reconciled in real-time as they are transferred from person to person. The test also will include the possible usage fields of the technology. John Hill, the assistant director of the bureau remarked, he hopes the project will identify the opportunities.

Privacy, as a new currency. Ömer Koç, Chairman of the Koç Holding, the largest industrial conglomerate in Turkey, commented on bitcoin. As he answered the question about payment forms in the future on an interview, which was published on the company’s own magazine. He said, it is inevitable that in future another form of money will appear and will be used; even now the cashless payment systems are growing as number in use, like credit cards or even bitcoin. He also touched upon blockchain and said, it is the technology that will change the roles of entire value chain. Lastly he added, ‘’privacy, as a new currency.’’

"Bitcoin is more than a fad," - said James Gorman, Morgan Stanley CEO. Gorman did not stay away from a whole pleiad of big figures of the financial world, who recently expressed their opinion on bitcoin. But while many on Wall Street are rallying behind JPMorgan CEO Jamie Dimon and responded negatively about bitcoin, the Morgan Stanley CEO expressed quite the opposite opinion. He noted that the confidentiality and control that the cryptocurrency offers is at least attractive. "I haven`t invested in it. I've talked to a lot of people who have. It`s obviously highly speculative, but it's not something that's inherently bad.

Blockchain in Turkey. Turkish Central Bank has launched the round table for discussing and studying blockchain technology. The group includes Central Bank, along with Banking Regulation and Supervision Board, Capital Markets Board and Treasury, uzmancoin informs. Mustafa Okay, Central Bank’s general director of payment systems says that it is impossible for institutions to stay indifferent to this technology, and added, that they neither leave idle, nor ban totally this technology.

Goldman Sachs Bank is going to allow its investors to trade in Bitcoin directly. Goldman will open a new market for investors, which will make it the first leading company on Wall Street that has opened access to its investors for the rapidly growing market of cryptocurrency. “In response to client interest in digital currencies we are exploring how to serve them in that space,” said a spokesman of the Bank. But in spite of the fact that this news can lead to a rapid legitimization of the cryptocurrency space, it also enables state bodies to study cryptoworld more closely. So the Federal Reserve has indicated that it is studying cryptocurrencies more in depth, and the SEC has filed regulatory rules regarding ICOs.

Gibraltar Financial Services Commission (GFSC) will incorporate the ICO rules into its "new regulatory framework". It should come into force in January 2018. GFSC says that to date the ICO industry requires regulation by the state. In addition, the commission said that "tokens are securities," which means that the state will seek to regulate them. It should be noted, that the government of Gibraltar is taking steps to develop permissive rules for crypto currency since 2016.

London forex-company ETX Capital announced the beginning of trading bitcoins on its page on Twitter. Such a decision in ETX Capital was made because of the desire of users to earn on the growing trend for the crypto currency. To trade bitcoins on the ETX Capital site, traders will be able to bet on a spread or enter into a price differential contract with the help of a trader or mobile version of the Traderpro application. "The addition of bitcoin to our extensive database, which works with more than 5000 markets, is one of the constant steps we take to introduce new products and innovative technologies that create more opportunities for trading our customers. In the coming months there will be more innovations, "- said the head of ETX Capital Andrew Edwards.

City authorities in Dubai launched their own cryptocurrency. The currency was called emCash, and you can use it to pay for government and other services. According to Deputy General Director for Economics of Dubai Ali Ibrahim, the token will be considered a legitimate means of payment for various government and non-public services, from their daily coffee, to utilities and money transfers. It should be noted, that the blockchain is widely distributed in the country, and Dubai seeks to become the financial and technological center for the eastern world.

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