Last week I met an old friend of mine, whom I hadn’t seen for a while. Obviously, we talked about what is going on in our lives, what we’re working on etc., so I told him about my obsession with Blockchain and how it is going to change everything. This friend of mine is rather …
The Swiss banking secrecy effectively over, other jurisdictions cooperating with authorities, and the risk of whistleblowers forcing others to reconsider to do so. Tax havens are under a lot of pressure (though far from under threat of extinction) these days, so where to turn next if you are not willing to pay up in your …
Forget Panama – Bitcoin is the new haven for tax evasion Read More »
Bitcoin, Cryptocurrency, virtual money, Litecoin, Blockchain and so on… You may have heard these terms, but do you know what they mean? To be fair, like the technology behind it, it’s a complicated topic and it helps to get the jargon right: Bitcoin like Ripple and Litecoin and a growing number of other names (as …
A group of seven banks and financial services providers announced that it had successfully tested blockchain technology and smart contracts to manage post-trade lifecycle events for credit default swaps (CDS). A press release by one of the participating firms, the Depository Trust & Clearing Corporation (DTCC), stated that “the first of its kind initiative demonstrated …
Blockchain has been subject to much discussion recently because of the wide remit of potential applications of the technology and its potential to change the financial industry as we know it. Naturally, this hasn’t gone unnoticed and regulators around the globe are trying to catch up with the phenomena. This report looks at the current …
In our first article on Cryptocurrencies “An Introduction to Bitcoin and Cryptocurrencies” we have already given you an overview on the topic. With this article we want to look at the underlying technology, the so-called Blockchain and the questions that surround it. In 2008 Satoshi Nakamoto published a paper describing the cryptocurrency Bitcoin for the first time. …
Continuing from Part I of “The basics of Blockchain”: Risks and weaknesses of blockchain However, the use of blockchain also incurs downsides and risks: The time to implement and uncertainty as to what to expect are key aspects in that regard. The technology needs to be adapted for financial markets and products. So far it …
The German financial regulator, BaFin, today published a report Distributed Ledger: The technology behind virtual currencies: the example of blockchain. The report describes how the distributed ledger works illustrated by the example of the Blockchain and its applicability in financial markets. BaFin also stated that it has been focusing on DLT for the past few months …
German regulator reports on Blockchain and Distributed Ledger Technology Read More »
BaFIN, the German financial regulatory authority, has today published its latest issue of the BaFIN Journal, its monthly bulletin that contains technical articles, interviews and reports on important national and international regulatory issues as well as the official announcements of insurance supervision. The February 2016 issue focuses amongst other topics on guidance on the technology behind cryptocurrencies based blockchain, the German Ring fencing Act, and the updates …
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