Thursday, 16 June 2016

Daily Blockchain Industry News

Bank of Canada Demos Blockchain-Based Digital Dollar -

The Central Bank of Canada has revealed it is developing a digital version of the Canadian dollar based on blockchain technology. The unveiling precedes a scheduled speech by Bank of Canada senior deputy governor Carolyn Wilkins that will find the central bank issuing more details about its stance on the technology.

Pete Rizzo / Jun 16, 2016 01:30 pm

After Two-Year High, Will Bitcoin's Price Rise or Fall? -

The price of bitcoin is back in the spotlight, but following weeks of gains, market observers are beginning to assess what's next. According to members of the trading community, bitcoin prices are likely to stay range-bound on continued optimism in anticipation of a critical network change this summer.

Charles Bovaird / Jun 15, 2016 09:15 pm

Microsoft Launches Blockchain Fabric to Help Enterprises Form Consortia -

Microsoft has unveiled a project designed to make it easier for businesses to better take advantage of blockchain technology. Called Project Bletchley, it is "a vision for Microsoft to deliver Blockchain as a Service (BaaS) that is open and flexible for all platforms, partners and customers", the company said.

Michael del Castillo / Jun 15, 2016 06:28 pm

IMF Economist Examines Bitcoin Blockchain's Role in Banking -

The International Monetary Fund (IMF) has published an article in its Finance and Development magazine that examines the case for bitcoin and the blockchain. More of an overview than a guidance paper, the piece concludes that the technology could have benefits for the banking and trading sectors.

Daniel Palmer / Jun 15, 2016 05:06 pm

Allianz Tests Blockchain to Boost Catastrophe Bond Trades -

Insurance giant Allianz has tested how blockchain-based smart contracts could be used to handle catastrophe swaps and bonds – tradable instruments used to lessen the risk for insurers following disasters. By doing away with manual processing, the transaction process was simplified and accelerated, the firm said.

Daniel Palmer / Jun 15, 2016 03:48 pm

CPA Trade Association Pushes IRS for Bitcoin Tax Guidance -

A trade group representing more than 400,000 tax professionals has submitted comments to the IRS that seek to encourage the US tax agency to provide clarity on digital currency treatment. Of note are comments that argue for additional guidance as to how everyday purchases using the technology should be reported.

Pete Rizzo / Jun 15, 2016 03:25 pm