Blockstream Makes its Case for Bitcoin-Powered Private Blockchains

Blockstream Makes its Case for Bitcoin-Powered Private Blockchains

Private and public blockchains, normally siloed both technologically and culturally, could become more intertwined if a new effort by bitcoin startup Blockstream gets off the ground. The venture-backed firm is best known for iterating on top of the open-source bitcoin protocol with projects such as the Lightning Network and sidechains, the latter of which aims to allow users to send assets back and forth between blockchains ‘pegged’ to bitcoin. At the same time, the startup has been working on more enterprise-oriented projects, perhaps biting into the recent buzz and experimentation with private blockchains that typically have a few known participants managing the system. The latest announcement finds Blockstream expanding on the next steps for a...

Blockstream is Making a Case for a New Kind of Private Blockchain

Blockstream is Making a Case for a New Kind of Private Blockchain

Private and public blockchains, normally siloed both technologically and culturally, could become more intertwined if a new effort by bitcoin startup Blockstream gets off the ground. The venture-backed firm is best known for iterating on top of the open-source bitcoin protocol with projects such as the Lightning Network and sidechains, the latter of which aims to allow users to send assets back and forth between blockchains ‘pegged’ to bitcoin. At the same time, the startup has been working on more enterprise-oriented projects, perhaps biting into the recent buzz and experimentation with private blockchains that typically have a few known participants managing the system. The latest announcement finds Blockstream expanding on the next steps for a...

Trump's 'Acting' CFTC Chair Details Vision for Blockchain Regulation

Trump's 'Acting' CFTC Chair Details Vision for Blockchain Regulation

Donald Trump hasn’t even formally appointed CFTC commissioner Chris Giancarlo as chairman yet, and he’s already appropriated the president-elect’s slogan: “Making Market Reform Work for America.” In comments given to about 300 swaps traders, analysts and more at the SEFCON event in New York City this week, Giancarlo for the first time referred to himself in public as “acting chairman” and laid out his “agenda” going forward for the regulation of blockchain and distributed ledger tech. Reading from a prepared speech, the current CFTC commissioner yesterday reiterated his five-point plan for regulators to promote the technology, adding that if implemented successfully, he believes DLT could make regulatory...

Digital Asset's New Challenger: DLT Disillusionment

Digital Asset's New Challenger: DLT Disillusionment

Stakeholders at one of the first mainstream financial institutions to build with distributed ledger technology (DLT) are beginning to doubt its promise. It’s been just four months since New York-based Digital Asset Holdings commenced the formal process of gathering information from the Australian Securities Exchange (ASX), and reports are already beginning to trickle in that show how difficult the process is becoming. But those involved say the stakeholder disillusionment is just part of the learning process. Initiated in August, the partnership’s “stakeholder engagement program”, as Digital Asset CEO Blythe Masters called it, set out to ascertain from a wide range ASX users what it might take to build a blockchain replacement for the...

Digital Trade Chain: 7 Banks Could Go Live With Blockchain in 2017

Digital Trade Chain: 7 Banks Could Go Live With Blockchain in 2017

Seven major European banks are partnering on a new blockchain-based trade finance platform, with a tentative plan to launch sometime in the second half of 2017. Dubbed Digital Trade Chain (DTC), the initiative grew out of an earlier proof-of-concept spearheaded by Belgium-based bank KBC and first unveiled in July of last year. Those backing the platform’s development are looking to establish a secure place to manage open account trade transactions for both domestic and international commerce. DTC utilizes a permissioned ledger, with authorized parties allowed to submit transactions on the platform. Open account trade transactions involve products being shipped before the actual payment is due, meaning that trust among the transaction’s parties is imperative. With...