Inshorts

European Union is still not ready for distributed ledger technology. In the latest annual report the European Central Bank expressed the position that the department isn't likely to use distributed ledgers in the near future. Any technology-based innovation would have to meet high requirements in terms of safety and efficiency, and at this stage of its development distributed ledger technology is not mature enough and therefore cannot be used in the Eurosystem's market infrastructure, reads the report. The central bank adds they will continue to monitor developments in this field and explore practical uses for blockchain.

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Japanese banking industry develops a common blockchain platform. The Japanese Bankers Association will work to provide a common basis for members to experiment with the technology that underpins virtual currencies, possibly leading to cheaper, more convenient financial services. The effort announced last Thursday, by the association seizes on the potential of blockchains - distributed ledgers, or databases, that allow transactions to be recorded and monitored through peer-to-peer networks. 

Bitfury partners with Ukraine to implement blockchain for government data records. Bitfury CEO Valery Vavilov said in interview to Reuters that the blockchain company will provide its services for Ukraine. Ukraine's deal with Bitfury will begin with a pilot project to introduce blockchain into the country's digital platform. The areas being explored for the pilot project are state registers, public services, social security, public health, and energy, Vavilov said. Once the pilot is complete, the blockchain program will expand into all areas, including cyber security.

New participant of the initiative for Cryptocurrencies and Contracts (IC3). American financial giant Fidelity joined the research group “The Initiative for cryptocurrencies and contacts” (IC3). Fidelity will become a permanent member of the project together with such companies as IBM, Intel and the blockchain start-up Digital Asset. Hadley Stern, the Vice President of Fidelity Labs, noted the potential of digital assets, smart contracts and blockchain applications in the future of the financial services industry. He also talked about plans to work with students and teachers to create blockchain based solutions for Fidelity customers.

Australian Central Bank looks into blockchain. A newly published assessment of the Reserve Bank of Australia take on the current financial system has revealed multiple endeavors by the central bank to study and develop blockchain solutions.The Reserve Bank of Australia’s revealed a report on new developments on financial infrastructure has pointed to the establishment of the so-called ‘internal working group’ aimed at studying the perspective implications of blockchain technology. 

Monero is trading at a value just above twenty two dollars. Price per token rose by 1.3% on Bitfinex. The value rise against USD is possible thanks to an increase in value against bitcoin. Investors continue to diversify their cryptocurrency holdings by investing in Monero. There is a good tendency, especially considering the 4% gain in value over bitcoin, breaching the line of 0.0185 BTC per XMR. However, it should not be denied that the price may fall and stabilize after such a jump.

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Kraken has a positive effect on Dash. The world's largest exchange Kraken included the cryptocurrency Dash in the trades. Since the twelfth of April, Kraken's customers can exchange Dash on a par with bitcoin and fiat currencies. After that the price of cryptocurrency has already grown by seventeen percent and continues to show a tendency to strengthen the rate. Michael Patryn, Founder of Fintech Ventures Group, commented that the increased exchange support results in an increase of value in such situations.

Find out more: "DASH Price Surges 17% as Kraken Adds It To Exchange"

The UK calls for FinTech regulations. The UK's Financial Conduct Authority called for an international regulatory framework to be applied to FinTech startups. The state body is concerned that standards for the regulation of "sandboxes" can be affected since each department currently has its own rules and regulations. In this regard, Christopher Woolard the head of strategy and competition in Financial Conduct Authority expressed concern, that there is unlikely to be one standard that fits all but building common understanding and stronger international co-operation around innovation will help secure the long-term future of the industry.

Disclaimer. This video is 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. 

Bitcoin's price can reach $500,000 by 2030. Peter Smith, Blockchain CEO and cofounder, along with Jeremy Liew, the first investor in Snapchat suggested that the bitcoin's price could reach half a million dollars by 2030. Experts base their forecasts on the spread of mobile communications, political uncertainty in the US and the UK and raising popularity of cryptocurrencies. In the next 13 years Peter Smith and Jeremy Liew expect the amount of users in the network to rise 61 times as many and the cost of market capitalization to short the target of $ 10 trillion.