One Block Team

News
IBM Backs a Dollar-Pegged Stablecoin Crypto Token on the Stellar Network

Stronghold, a San Francisco-based financial institution that has been developing an asset agnostic payment and trade ecosystem, has launched an asset-backed token on the Stellar network, the first venture supported USD anchor for the network. Buyers of the coin will deposit U.S. dollars with Stronghold’s partner bank, Nevada-based Prime Trust, enabling Stronghold... Read More

One Block Team

News
Wells Fargo Files Patent for Tokenization System to Protect Sensitive Data

San-Francisco-based bank Wells Fargo has outlined a patent for a tokenization system that would protect data, according to a filing published by the U.S. Patent and Trademark Office (USPTO) July 17. The newly published application details a system in which any type of data element — whether a document, graphic, or database value —... Read More

One Block Team

News
CEO of UBS: Blockchain Will Transform Cost Base of Financial Services Industry

The CEO of Swiss financial services provider UBS Group Sergio Ermotti said that blockchain will be essential for the financial services industry in an interview with CNBC June 18. Ermotti said that the underlying technology of cryptocurrencies will allow “[the] freeing up of resources to become more efficient,” adding that “[it] is a great way to... Read More

One Block Team

News
Terminals For Exchanging Crypto Put To The Test By Institutional Industry Leaders

A company which has created a terminal for exchanging cryptocurrencies, as well as state-of-the-art compliance technology, has started to roll out early versions of its hardware to industry leaders worldwide. Blockchain Terminal says several alpha terminals are already in use – and right now, 200 beta machines are being built... Read More

One Block Team

News
Arizona Overhauls Blockchain Bill to Focus on Crypto Payments

An Arizona Senate bill that previously focused on state income tax is getting a makeover, the Senator who crafted the bill tells CCN. Senator Warren Petersen, a Republican, said the bill is being redesigned to instead focus on point-of-sale crypto tax payments known as the transaction privilege tax (TPT) in... Read More

One Block Team

News
BBVA issues corporate loan using blockchain

Spanish lender becomes first global bank to use the technology for corporate loans Spain’s BBVA has become the first global bank to issue a loan using the distributed ledger technology that underpins cryptocurrencies and has the potential to revolutionise banking processes. BBVA said it carried out the entire process for... Read More

One Block Team

Editorial
Fitch Ratings: Blockchain Is a Potential ‘Game-Changer’ for Insurers

One of the “Big Three” credit rating agencies thinks blockchain is a “game-changing technology.” Fitch Ratings touted the potential uses for blockchain within the insurance industry in a report published Wednesday, saying “insurance is fertile ground for blockchain’s capabilities.” In particular, the company sees blockchain as a tool for streamlining... Read More

One Block Team

News
Blockchain Insurance Policy Developed for Hurricane-Prone Puerto Rico

The firm behind a blockchain protocol tailor-made for the insurance industry has designed a decentralized policy to cover natural disasters in hurricane-prone Puerto Rico. According to an announcement Tuesday, Etherisc was approached by two local ethereum developers to develop a policy that specifically provides hurricane damage cover for the Caribbean island’s... Read More

One Block Team

News
Korea’s SK Telecom to Build Blockchain for Identity and Asset Exchange

South Korea’s SK Telecom is reportedly launching a blockchain-based platform for authenticating customers’ identities within the year. According to a ZDNet report on Tuesday, the telecoms giant – a subsidiary of the SK Group, one of the largest family-owned conglomerates in South Korea – is developing the new system in... Read More