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Facebook to launch its own cryptocurrency for Whatsapp Messenger

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Facebook which was used or being used by almost everyone around us is soon going to launch its own cryptocurrency for its Whatsapp messenger app.

Facebook, a well-known name in the world which was used or being used by almost everyone around us is soon going to launch its own cryptocurrency for its Whatsapp messenger application which it had earlier purchased from its founders, Jan Koum and Brian Acton according to sources as reported by Bloomberg.

As reported, Facebook is developing a stablecoin to overcome the issue of volatility in the cryptocurrency market. The exact date of the release of the Facebook coin is not revealed yet but it may not be coming up in the near future as Facebook is still trying to plan out strategies for the same.

 

The power of Blockchain Technology

The tech giants in the world which are steadily implementing blockchain technology in their infrastructure in one way or the other. Many prominent people in the world of technology may not believe cryptocurrencies to be the future of money but everyone does believe that blockchain may be the future for most technology-related businesses.

 

The rise of Stablecoins:

The cryptocurrency space has seen a massive increase in the number of stablecoins in the last one year rising to over 120 according to Stable.Report, a platform that tracks the number of stablecoins. The idea behind stablecoin was to bring stability in the market to make it easier for traders to trade as well as stablecoins are quite easier to be used as mainstream in daily life activities just as US dollar or Euro.

But the concept of Stablecoin did not flourish as it should have because of drawbacks such as shuttering down of stablecoins such as ‘Basis’ which recently closed down its operations and controversies around stablecoins such as Tether which people started to believe were not actually backed by the US dollar.

 

A Crypto Future for Facebook

Facebook has a massive user base of more than 2.5 billion global users and revenue of more than $40 billion thus making Facebook a perfect company to launch a stablecoins as it has the adequate amount of funds to back it as well as a massive userbase for mass adoption.

#Blockchain

Adoption: Courts in France adopt blockchain technology

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The NCC or National Council of Clerks of France have finally tested a blockchain technology-based solution for the courts of the country.

The NCC or National Council of Clerks of France recently made an announcement that they have finally tested a blockchain technology-based solution for the courts and are now prepared to launch it throughout France. The National Council of Clerks is a representation of the clerks of the corporate and commercial registry in around a hundred thirty-hour workplaces in France. The workplaces depend upon one another for sharing important data.

 

The goal of NCC France

The NCC is determined to streamline and position the latest information technology that capitulates something that is known as ‘the single version of the truth’. The data tracks an organization’s growth, dissolution, change of location etc. The sharing of data amongst each other was earlier a big challenge for the NCC.

 

The project based on blockchain technology had an aim of rapid cycle times and precision of information. In the pilot phase of the project, the National Council of Clerks in France was able to lessen the timing of registry operation involving a lot of days to just one day.

 

According to the president of France National Council of Clerks, Sophie Jonval, the project based on blockchain technology is an outcome of the partnership with IBM. IBM who is already an expert in blockchain technology and cryptography has been serving as a technological partner.

 

According to the NCC, the project shall be rolled out in the 1st half of 2019 and the project shall ensure a transparent and improved dynamics of the interactions between the clerks.

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HSBC Bank Looking to Expand Blockchain Platform Voltron in South Korea

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HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it's blockchain platform as reported by the Korean Times.

HSBC, the largest bank in Europe is searching for banks in South Korea for launching Voltron, it’s blockchain platform as reported by the Korean Times.

 

HSBC Voltron:

The Voltron platform delivers a more quick method to process and settle invoices using by using permissioned blockchain technology. The permissioned blockchain stops the transactional data from being shared with everyone but instead, the data is shared with only consented users. The platform decreases the time that is usually required for the total process.

 

According to Joshua Kroeker, the innovation director of HSBC, the platform would mostly impact the process timing. Thus the transparency which comes with blockchain, as well as the rapid flow, would help the banks in managing their working capital as well as their cash flows. Kroeker reached out to the banks in South Korea to partner with their blockchain platform i.e. Voltron for the letters of credit.

 

HSBC’s blockchain platform was initiated in 2018 and is currently partnered with seven banks namely Standard Chartered, Bangkok Bank, BNP Paribas, ING, CTBC Holding, SEB, and NatWest. The platform is still in its pilot stage however, it shall soon be launched commercially.

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World’s biggest Blockchain ETF on London Stock Exchange

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The world's biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange by Invesco, a large investment management company.

Cryptocurrency enthusiasts around the world have been curiously waiting for a bitcoin ETF to be approved by the SEC or any other potential government in the world. However, before a bitcoin ETF, the world’s biggest blockchain ETF is scheduled to be launched by Invesco on the London Stock Exchange. Invesco is a large investment management company that has more than $800 billion in assets under management.

 

World’s biggest Blockchain ETF

At the launch, the Blockchain ETF will invest in a portfolio of forty-eight companies including the CME Group, a US exchange which had earlier launched bitcoin futures on the exchange and Taiwan Semiconductor Manufacturing, a company that supplies crypto mining machines. Other companies are those that have an exposer to the blockchain technology.

 

The Blockchain ETF will be based on a proprietary scoring system made by Elwwod Asset Management LLP. According to Bin Ren, the chief executive officer at Elwood, the blockchain goes past cryptocurrencies. He mentioned that although blockchain technology is mostly being used by financial companies, it will be implemented in a vast range of industries soon.

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