EU Watchdog: Blockchain Security Should Be Concern For Finance Firms

Financial firms need to be mindful of cybersecurity challenges as they look to integrate blockchain, a top IT agency for the European Union said this week. The European Union Agency for Network and Information Security (ENISA) has published a new report on blockchain tech, which seeks to highlight the security challenges that large businesses might experience in the face of broader blockchain adoption. Key management, data privacy and oversight of smart contracts were some of the major items identified in the report. It’s the first time the agency, founded in 2004, has released a major report on the tech. Last year, ENISA published a glossary page on its official website that offered an overview of blockchain, noting at the time that “it is too soon...

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...

UK Exchange Coinfloor Embraces 'No-Fee' Bitcoin Trading

London-based digital currency exchange Coinfloor has announced it will adopt a ‘no-fee’ bitcoin trading policy beginning later this week. With the move, Coinfloor, one of the larger players in bitcoin’s still nascent GBP market, embraces a pricing strategy that is comparable to the industry’s largest, though primarily China-based exchanges, which have long withheld fees on bitcoin-denominated trades. Speaking to CoinDesk, exchange representatives indicated that the move is designed to boost liquidity at the exchange, the largest GBP bitcoin trading platform by volume, according to data from Bitcoinity. The exchange sees just over 630 BTC (roughly $425,000) in bitcoin trades daily, a figure that puts it ahead of Coinbase’s GDAX...

Brexit Blues: Why Dublin is Turning Into a Haven for Blockchain

Brexit Blues: Why Dublin is Turning Into a Haven for Blockchain

In the wake of Brexit, the Republic of Ireland could become the go-to European hub for FinTech companies, and among them, its many specialists in blockchain technology. Following the UK’s leave vote, Dublin was found to be the second most attractive financial center in Europe by a PwC survey – and although London still topped the poll, uncertainty over the terms of Britain’s exit from Europe make the Irish challenger more appealing by the day. Besides a specialization in financial services, Ireland is already the European outpost for many of the most influential tech companies in the world today. In Dublin’s Grand Canal Dock area, now dubbed ‘Silicon Docks’, are the European headquarters of Google, Uber, Amazon, Airbnb, Facebook,...

Sweden's Blockchain Land Registry to Begin Testing in March

Sweden's Blockchain Land Registry to Begin Testing in March

A public-private effort in Sweden to record land titles on a blockchain is set to begin public testing this March. Spearheaded by the Swedish National Land Survey and blockchain startup ChromaWay, the project was revealed in June to have support from consulting firm Kairos Future and telephone service provider Telia. Now, the project is moving ahead with the addition of two banks that specialize in mortgages, Landshypotek and SBAB, CoinDesk has learned. ChromaWay CEO Henrik Hjelte said that the sandbox release would seek to test the platform from a business, legal and security perspective, while allowing the public to test the interface and back-end. “The system will not be connected to live data in March yet, but it will demonstrate what it would look like...