This video is brought to you by CoinIdol.com in partnership with Koles Coin News Channel
Middle East targets wide blockchain adoption. According to a report in arabianbusiness.com, Bahrain has held talks with Singapore’s central bank as it devises plans for a pilot blockchain project in the Gulf state. The Monetary Authority of Singapore, together with Singapore's stock exchange and eight local and foreign banks, are in the midst of a project to use blockchain technology for interbank payments. Khalid Al Rumaihi, CEO of inward investment agency Bahrain Economic Development Board, noted: “We are in talks with a group of people from the central bank of Singapore. The ability for blockchain to be adopted at a country level is a huge opportunity for Bahrain to move into the spotlight as a pioneer in this space”.
The EU laws helped to shape FinTech sector of the UK. In a report to the Financial Times, founder of the Starling bank Anna Boden, noted about fears that the Brexit could see the sector stalling. Anne Boden is concerned, due to Brexit, the UK could miss laws, such as the Payment Service Directive Two (PSD2), which forces banks to open their data to new entrants. System allows third parties to help people manage their accounts and weaken the stranglehold of banks in relation with customers. PSD2 enter into force in 2018.
The improvement of Monero. The Monero team announced the release of the new v0.10.2 software Wolfram Warptangent on the official Twitter page. The Monero users will be able to use a wallet files any operating system and restore the wallet a certain time interval after the update is installed. In the new software also improved validation of Ring Confidential Transactions code (RingCT). This update applies to a highly recommended.
The new FinTech researches in Japan. The Tokyo Institute of Technology and blockchain developer Input Output Hong Kong are working together on blockchain collaboration within the Institute’s Tech School of Computing. The partnership project aims to tackle the FinTech various challenges and teach young professionals the new technology. Charles Hoskinson, IOHK CEO and co-founder, noticed: «This collaboration has two main goals: the first is to develop our business area. And the second is to nurture and develop global talent in these areas in Japan.»
The new way to pay for purchases with bitcoin at Amazon. The Purse.io service gives a possibility to pay with bitcoins on Amazon. Currently, the majority of purchases are committed with credit cards. With Purse.io the customers will be able to pay with bitcoin for products on Amazon anywhere in the world. Moreover, the "buy now" function on Purse.io allows the customers to save 5% from their purchases with bitcoin.
The banks are focusing on working with FinTech companies. Speaking at a recent Economist’s Finance Disrupted event in London the COO of UBS’ Wealth Management sector Dirk Klee said that banks are now focusing on working with FinTech companies instead of regarding them as competition. Answering Business Insider’s question Dirk Klee stated: «We are embracing fintechs and actually we believe that there is great innovation. We need to find very smart ways to partner up and improve our existing business model». The number of FinTech companies have sprung up around the world with the aim of tackling the financial industry. By doing so they are offering innovative digital tools for people interested in an alternative way of handling their finances.
Bitcoin is now available in Texas. The EasyBit had placed its four ATMs in Texas, on the South of United States. The customers of the local stores now can exchange bitcoins or pay with them for goods. According to EasyBit’s website, the company already has ATMs in Arizona, Georgia, Michigan, Colorado and British Columbia; also there are some ATMs installed in Europe and Asia. Earlier the company reported having nearly 50 machines in 10 countries, what made EasyBit the second-largest bitcoin ATM operator behind Coinsource.