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New FinTech center in India. According to the Indian newspaper The Hindu, the government signed a memorandum of understanding (MOU) with the Thomson Reuters and Visa companies, to make the Visakhapatnam city the Fintech center of the India. Thomson Reuters Company will be given the opportunity to use the infrastructure and educational centers provided by the government for development. Visa will give their experience of Quick Response (QR-code)introduction and Near-Field Communications (NFC) technology for digital payments. The Company will be located in the "FinTech tower" that will serve as a co-working space for FinTech startups.
The Polybius Foundation company announced the first European cryptobank. In addition to traditional banking services, The bank will work with start-ups and cryptocoin blockchain projects. Co-founder of the Polybius Foundation, Ivan Turygin, explains necessity of the bank, due to the lack of understanding cryptotopic from traditional lending institutions. Generally it is easier to consider pulling out of the project than go into the matter. The creation team of the Polybius Bank included such companies as the CryptoPay, the HashCoins, the Ambisafe in cooperation with leading specialists from banking organizations.
Blockchain can be used to fight the corruption. Former Prime Minister of Great Britan David Cameron expressed to Business Insider his interest in the technology, seeing an opportunity to make government processes more clear. The main advantage, he notes, that blockchain is the technology, not the company, and is a former of decentralized database that allows people to edit a shared ledger and will only be edited with the agreement of the majority of parties who use it. As we know,one year ago the UK has used the technology blockchain for benefits.
The group of companies teamed up to promote and research blockchain technology. The organization called Crypto Valley Association (CVA) includes the Thomson Reuters, the UBS, the PriceWaterHouseCoopers companies and other educational and public institutions. The primary objectives of association are holding hackathon and themed events, working in the field of public policy and researching the new technologies. The President of association Oliver Bussman noted that the global organization will work with innovation and forward thinking companies to strengthen Switzerland's position as a leading center in this sector.
The European Union combat with money laundering through cryptocurrency. The amendments to the EU Parliament directive are intended to address the shortcomings in law, including tax evasion and identification-bitcoin users. Cryptocurrency platforms will fulfill the same requirements as other payment institutions, including rigorous identity verification and control operations to prevent money laundering. As it stated in the directive, its needed to improve prevention base to keep pace with the time.