Dub 05

The Vanbex Report: Bitcoin’s Battlefronts

Source: bitcoin

Vanbex Report

April 5, 2016 — Trying to decide if Bitcoin is a currency or an investment is not unlike trying to discern whether light is a particle or a wave. The correct answer of course is, it’s both. Bitcoin faces a multitude of battlefronts that may obstruct it from further pushing into the mainstream, as a universally accepted currency.

The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers.

Bitcoin’s Battlefronts

Whether from within, externally, or fundamentally, through design or accident, Bitcoin is up against the real-world pressures of accommodating to wide-spread use. Most notable is the question of scalability, which, if left unsolved, will almost certainly spell disaster for the invention of Satoshi Nakamoto.

Positive news arrived last week with the announcement of a $900,000 Bitcoin Developer Fund for MIT’s Digital Currency Initiative, the institution’s first foray into the Bitcoin and blockchain world.

The money, which came from a range of Bitcoin-related (or dependent) companies will help fuel the continued work of Bitcoin Core developer Cory Fields, former Bitcoin Core lead maintainer Gavin Andresen and current Bitcoin Core lead maintainer Wladimir van der Laan. The trio arrived under the wing of MIT last August, a saving grace from the funding constrictions as a result of the Bitcoin Foundation’s collapsing profitability.

Motherboard’s Christopher Galmo wrote a good piece on the $900k announcement titled, “To Survive Long Term, Bitcoin Needs a Break from the Real World.”

However, in it Malmo concludes, “Taking it off the line and into the academic realm could just be the shot in the arm that bitcoin needs to move forward with new ideas.” He further states earlier in the article, “To move forward, it may just need a place to grow without these real-world constraints.”

The problem is that the slew of issues — the battlefronts — Bitcoin is up against will not suddenly cease, not to mention a key competitor currently surging in popularity (See Related articles) coupled with backing from a particular tech giant.

The crucial thing, as Van der Laan told CoinDesk in late January, “The time of discussion and planning is over for now and we need to move on with actually realizing the roadmap.”

But let’s first backtrack a bit.

In Cyprus, in 2013, amid the banking crisis, many Greek citizens looked to Bitcoin as a means of placing their money in a place the government could not reach.

Put your feet in the shoes of government then and it’s quite clear why they would be hard pressed to accept an alternate unit of account or exchange as a viable option alongside their own sovereign fiat.

The Cyprus episode catapulted the cryptocurrency to new heights, as Guillaume Babin-Tremblay, executive director of the Bitcoin Embassy in Montreal, Que iterated.

“Bitcoins were growing slowly until Cyprus. Cyprus was the catalyst for the big increase in the price,” said Babin-Tremblay, as quoted by Kitco News.

The price sat at $40 per Bitcoin and then doubled within a couple of days, according to Babin-Tremblay, with Kitco News reporting, “Prices pushed towards $200, but dropped to about $60 after the banking crisis abated.”

Bitcoin offered Cypriots, who were at risk of having assets seized by the Central Bank of Cyprus, a place to put their money outside the reach of governments.

China, Argentina, Iceland and Russia, with their slumping economy the target of international sanctions and duly battered by the collapse in commodity prices, are all home to economies that have fomented a need for investors to seek an alternative vehicle of investment.

Right or wrong, this action, moving currency out of the domestic system, affects economic stability. Growth is also hindered when citizens move funds offshore for the obvious reasons that that money no longer feeds the national economy through taxation, consumer spending or on-hand capital for banks.

This is what investment in Bitcoin is tantamount to and, hence, the opposition to the cryptocurrency and the ensuing legislative battles.

The above example is also demonstrative of how and why a digital currency gains value and can experience intense volatility.

It’s quite circular in nature.

On one hand, it’s about demand, which in turn feeds the purchasing power of a currency. On the other hand, demand for investment in a particular currency oftentimes has to do with its purchasing power or value on the world market, otherwise, why invest?

Venezuela is an interesting example. There is projections its economy could inflate by 700 percent, according to the International Monetary Fund. This is the highest inflation rate in the world. The collapsing economy has driven entrepreneurs to Bitcoin as their preferred payment method.

This type of economic environment feeds demand for the cryptocurrency.

But the cryptocurrency is struggling to make a decisive choice. Relevancy as a legitimate currency, crypto- or otherwise, hangs in the balance with governments bearing down.

Pundits discuss Bitcoin’s prowess with a $6.3 billion market cap, compared to Ethereum’s cryptocurrency which, in second place, makes up just below $900 million in market cap at the time of writing this piece.

However, value, as we’ve seen in Bitcoin’s own history, is relative. Governance is needed; action is needed, as Van der Laan had espoused.

For the digital currency to move forward, beyond its current state of ambiguity the realization that a decentralized currency functioning via a laissez-faire environment or attitude does nothing to produce the most efficient, effective and secure monetary system.

The most talked of issue plaguing Bitcoin at the moment is the block size debate.

At the current 1MB size, by design it was supposed to take around 10 minutes. Under current conditions, this timeframe can stretch to anywhere from 45 minutes to a couple of hours. We know the time it takes in comparison with a credit card and so on.

Whether the delayed transaction time is a result of mining centralization in China is another debatable subject, just as the topic of the centralization of the mining network to the overall goal of Bitcoin itself is subject for discourse.

Bitcoin’s relevancy hangs in the winds of innovation and real-world action.

The $900,000 injection from Bitcoin-based companies is a small price to pay to resuscitate their lifeline, a cryptocurrency that commands billions and in which their enterprises are based, for the most part.

It all can evaporate, diminish just as Blackberry’s North American dominance vanished in the wake of competition.

Returning to Venezuela: Consider why citizens would select Bitcoin versus any of the alternatives. It has nothing to do with computational algorithms of the cryptocurrency; it has everything to do with the current store in value presupposed by demand.

Bitcoin’s core developers must start to fight through the battlefronts, and soon, otherwise Mike Hearn’s parting words will run as true as any tautology ever could.

As we know demand for a product is never guaranteed in this fiercely competitive environment and the items that plague Bitcoin, both internal and external, could spell its decline.

Some news stories from this past week:

U.S., Global Regulators Move Toward Regulatory Framework

FinTech industry gaining traction as agencies seek education, further assessment

The Office of the Comptroller of the Currency (OCC), an independent arm of the U.S. Department of the Treasury responsible for administering the federal banking system, announced the desire to begin building a new FinTech framework that will help foster and develop the fast-growing industry.

On Thursday, the OCC released a whitepaper entitled “Supporting Responsible Innovation in the Federal Banking System,” which outlined the current state of the industry and discussed the development of a framework to “identify and evaluate” financial innovation, part of which involves education and dialogue.

Thomas Curry, U.S. Comptroller of Currency, said, “The OCC will approach innovation with our eyes wide open to the attendant risks, but also an open mind to promising new ideas and new technology.”

This shift in U.S. regulatory mindset comes alongside news global regulators are also looking to better manage the FinTech industry.

The Financial Stability Board meeting in Tokyo on Thursday agreed to examine the industry in components and begin assessing the potential risks within the main pockets of the FinTech ecosystem.

“The important thing for us as members of the FSB is to be moving in parallel with these developments and not be stifling innovation, but being able to apply them in a way that improves the resilience of the system,” said FSB Chairman and governor of the Bank of England, Mark Carney said, as reported by Reuters.

Reuters further reported, paraphrasing Carney as stating, policy intervention by other authorities such as in competition, conduct and consumer protection, would need come before any financial stability considerations.

Also Read: Supprorting Responsible Innovation (Whitepaper)

Hyperledger Project Elects New Leadership, Gains New Members

Elections see Digital Asset CEO and IBM’s Ferris assume key roles as chairpersons

The Hyperledger Project, a collaborative effort created to advance blockchain technology with an aim toward establishing an open-source platform, elected new leadership and gained new investment.

Appointments made by member vote saw Blythe Masters, CEO of Digital Asset Holdings, named as board chair. Additionally, Chris Ferris, engineer and CTO of open technology at IBM, was appointed as chair of the technical steering committee (TSC).

The blockchain initiative also acquired 10 new companies to join in on the collaborative effort, a list which includes Blockstream and Bloq as well as eVue Digital Labs, Gem, itBit, Milligan Partners, Montran Labs, Ribbit.me, Tequa Creek Holdings and Thomson Reuters.

See Hyperledger.org for the list of TSC and Governing Board members.

Israel’s FinTech Hub Finally Gets a Permanent Residence
Based in the heart of Tel Aviv, The Floor lands in Stock Exchange

The Floor, Israel’s first FinTech hub established in 2015, has secure a permanent place of residence, landing in the Tel Aviv Stock Exchange in an 800 square meter leased property.

The hub secured $250 million from the Pando Group last year, a Chinese-backed venture capital fund based in the Virgin Islands.

At the start of March it was also announced Banco Santander had joined with HSBC, Intesa Sanpaolo and RBS to support The Floor, which opens officially this June.

The Floor is dubbed as a place to trade FinTech ideas with a proposed vision of providing partners and members “with value by nurturing innovation capable of delivering brilliant solutions to the global financial industry while securing Israel’s position as a prominent Fintech capital.”

The initiative is an interesting arrangement in that it will connect Israeli FinTech innovation with China.

Also Read: Support the Floor – Santander InnoVentures Press Release

Some Upcoming Events …

Smart Contracts, Blockchain & Data Standards

A free half-day FinTech forum hosted by XBRL US will be held on Apr. 4 in New York City. Speakers from Consensys, ItBit, Markit, Nasdaq, Safeguard Scientifics will be featured. For more information visit:

Money 20/20 Europe

Touted as an “experience for European innovators” and “catalyst for the growth and development of the payments and financial services ecosystem.” To register go to: money2020europe.com/register-2016. Event runs Apr. 4 – 7.

Coinfest 2016

Coinfest, coined as Canada’s crypto-holiday, is celebrating this year’s event across multiple cities worldwide. Events will include geographically decentralized activities such as the International Hangout and the Decentralized Arcade, which allow mass participation on a global scale. The event will be held Apr. 5 – 10. For more information visit Coinfest.org.

Innovate Finance: Global Summit 2016

The Innovate Finance Global Summit will champion and celebrate the latest developments in FinTech at the historical heart of financial services in London. The summit will feature bepsoke sessions, VIP keynotes and more. Conference is Apr. 11 with tickets available through Eventbrite.

Blockchain & Distributed Ledger Technology

The conference will bring together, Apr. 13 – 14, an unparalleled faculty of in-house counsel and compliance professionals, senior executives from industry-leading companies, high-level regulatory and enforcement officials, and top outside counsel. For more information visit, AmericanConference.com.

Press Contact: Kevin Hobbs

Email: K@vanbex.com

Telephone: (604) 379-9032

Written By Brandon Kostinuk

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The Vanbex Report: Bitcoin’s Battlefronts

Bře 29

Open Source Blockchain Effort, HyperLedger, Elects Leadership Positions and Gains New Investments

Source: bitcoin

Open Source Blockchain Effort, HyperLedger, Elects Leadership Positions and Gains New Investments

LAKE TAHOE, Calif. – Collaboration Summit – March 29, 2016The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today is announcing the Hyperledger Project has filled key leadership positions and is welcoming new members. The Hyperledger Project is a collaborative effort to establish, build and sustain an open, distributed ledger platform that will satisfy a variety of use cases across multiple industries.

Disclaimer: This is a press release. Bitcoinist is not affiliated with this firm and is not responsible for its goods and/or services.

HyperLedger Elects Board of Directors and Steering Committee

The results of the Board of Directors and Technical Steering Committee elections for the Hyperledger Project include the following:

  • Technical Steering Committee Chair: Chris Ferris, distinguished engineer and CTO of open technology at IBM

  • Technical Steering Committee members include: Tamás Blummer, Digital Asset Holdings; Mic Bowman, Intel; Richard Brown, R3; Stanislav Liberman, CME Group; Hart Montgomery, Fujitsu; Satoshi Oshima, Hitachi; Stefan Teis, Deutsche Börse; Emmanuel Viale, Accenture; Pardha Vishnumolakala, DTCC; and David Voell, J.P. Morgan.

  • Board Chair: Blythe Masters, CEO of Digital Asset Holdings

  • Governing Board members: Charles Cascarilla, CEO, itBit; Toshiya Cho, Hitachi; Jerry Cuomo, IBM; Chris Ferris, IBM; Dirk Hohndel, Intel; Todd McDonald, cofounder and COO, R3; Robert Palatnick, DTCC; Kireeti Reddy, CME Group; Stefan Teis, Deutsche Börse; Dave Treat, Accenture; Yoshinobu Sawano, Fujitsu; Santiago Suarez, J.P. Morgan; and Craig Young, CTO, SWIFT. itBit’s Cascarilla and SWIFT’s Young are newly elected board representatives since the formation in December 2015.

These appointments are made by member vote. The TSC drives technical direction of the Hyperledger Project, while the Governing Board manages business direction, including governance, marketing and operational decisions.

The Hyperledger Project today is also announcing ten new companies are joining the effort and investing in the future of an open blockchain ledger: Blockstream, Bloq, eVue Digital Labs, Gem, itBit, Milligan Partners, Montran Labs, Ribbit.me, Tequa Creek Holdings and Thomson Reuters.

“There is no other effort advancing an open blockchain with this level of broad industry representation and level of leadership,” said Jim Zemlin, executive director at The Linux Foundation. “The Hyperledger Project is among our fastest growing projects at The Linux Foundation. The opportunity is great. This leadership team and the community investments among members across industries put the project in the best position possible to accomplish its mission.”

Peer-to-peer in nature, distributed ledger technology is shared, transparent and decentralized, making it ideal for application in finance and countless other areas such as manufacturing, banking, insurance and the Internet of Things. Research reports estimate that the investment in blockchain by financial institutions alone will grow to $400 million by 2019 (see: Aite Group Blockchain Players in Capital Markets: Where Are the Pioneers Headed?, 2015). By creating a cross-industry open standard for distributed ledgers, virtually any digital exchange with value, such as real estate contracts, energy trades, marriage licenses, can securely and cost-effectively be tracked and traded.

“The Hyperledger Project is gaining traction on a daily basis, displaying how vital this effort is in advancing distributed ledger technology,” said Blythe Masters, CEO of Digital Asset Holdings and Board chair for the Hyperledger Project. “Uniting the industry to drive this initiative forward is paramount to the success of distributed ledger technology. The Linux Foundation and its members are collaborating on an open source infrastructure that will increase privacy and scalability, among many other benefits.”

“These member investments demonstrate that blockchain technology continues to grow in importance as the alternative approach to multinational business transactions,” said Chris Ferris, IBM Distinguished Engineer, CTO Open Technology, and Technical Steering Committee chair, Hyperledger Project. “By providing a community for members to collaborate and contribute to an open source blockchain solution, we’re able to advance the technology collectively and ultimately drive quicker adoption and higher value across industries.”

Images from Linux Foundation.

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Open Source Blockchain Effort, HyperLedger, Elects Leadership Positions and Gains New Investments

Bře 29

The Vanbex Report: Outlawing BTC a Matter of Control

Source: bitcoin

Vanbex Report

Mar. 29, 2016 — On Wednesday (Mar. 23), Russia’s ministry of finance continued on with its pursuit to outlaw the world’s top cryptocurrency, Bitcoin (BTC).

The Vanbex Report is a periodic summary of the blockchain industry’s top news stories from the biggest companies, as well as the most promising newcomers.

Banning BTC?

This time, the new draft for the official banning of the production and circulation of BTC comes attached with punitive damages that could range from million ruble fines to up to seven years in jail and the ceasing of business operations.

Russia’s deputy minister of finance, Alexey Moiseev, as quoted in Russian media outlet RIA Novosti, said: “I hope we will manage to do this in a reasonably short period of time. I believe, we will be able to bring it in before the end of the spring session, but I don’t know if it will be passed in a first reading.”

Currently, BTC is not banned in the country but it is not legal currency either. The finance ministry estimates the law to enter the Duma, Russia’s lower house, by August.

The road with Bitcoin and Russia has been a rocky one for years, stretching back to January 2014 when the Bank of Russia first declared digital currencies as risky, speculative and not legally bound monies. In the same year, discussion of bans and imposement of fines were raised but nothing ever materialized into law.

Russia then took an ambiguous stance against the cryptocurrency last fall, as was reported by Coindesk. It was then unveiled Russia’s central bank did not support the outright banning of Bitcoin, a position that was duly backed by President Vladimir Putin.

Nevertheless, 2016 delivers another push by the Russian finance ministry toward halting Bitcoin-based monetary activity altogether, especially exchange related operations within the country’s borders.

And Russia doesn’t stand alone. Bolivia, Ecuador, Iceland, Kyrgyzstan and Vietnam are other countries that also have some level of ban in place for bitcoin, with China leaning in a similar direction, even going so far as to attempt to usurp the qualities and characteristics presented in bitcoin for its own centrally issued currency.

Also Read: Bitcoin in China: An Insider’s View

In December 2013, the People’s Bank of China and five other related government ministries released an official notice titled, Guarding Against the Risks of Bitcoin, which essentially stated bitcoin may not be used as currency in the country.

The interesting aspect regarding China and Bitcoin is that Chinese miners control at least half of the cryptocurrency’s mining network, concentrating a lot of power over the cryptocurrency’s core transactional function.

The national control over an entity valued at over USD $6.5 billion in market capitalization would presuppose a desire to maintain and develop that source.

But the opposite is true of the Chinese government because the value resides in something that is, as Putin put it, “backed by nothing.”

Furthermore, while governments express concern over terrorist financing and money laundering activity as principled reasons to outlaw the production, circulation and exchange of Bitcoin, the core factor boils down to sovereignty over one’s own system, be it monetary or otherwise.

Also Read: Dutch Central Bank to Create Prototype Blockchain-Based Currency

A decentralized digital currency requires regulation and oversight. This is not a novel thought.

The Russian and Chinese positions show that block-size scaling and billion-dollar valuations don’t matter if the currency exists within a closed-off system or one that cannot be appropriately regulated, pegged to a national or fiat currency and centralized in some form.

Some advocates in favour of the proliferation of cryptocurrency view anonymity and decentralization as an avenue toward a post-regulatory financial system. But as fantastic as that sounds it is beyond the bounds of what can be considered practical — from a point of economic management it’s near to impossible.

Russian government officials prefer the ruble be the only legal currency used in the country and that its central bank be the only legal entity allowed to issue currency, whether in physical or electronic form.

This is about control.

A decentralized currency that lacks any regulatory framework and oversight is a volatile currency — and increasingly, a virtual commodity — better positioned for investment. In addition, it is a currency privy to activity outside the bounds of the common good.

A decentralized cryptocurrency is certainly a revolutionary idea but as revolutionary ideas go, it must occur not at the behest of the current order of things, but beyond it.

Bitcoin’s days may not be numbered, but its current position as a digital currency free of much, if any, oversight is counterintuitive to progressive development of a digital society as a whole.

Disruptive does not mean dissociative, explained Lisa Cheng, Vanbex Group CEO, and despite the failings of government, and what anarchists may advocate, order and enforcement are critical ingredients to ensuring, or at least trying to ensure, the playing field is level.

Whether Bitcoin offers that is subject for another post.

Some news stories from this past week:

Russian Ministry of Finance Proposes Bitcoin Ban

Punishments for use of cryptocurrency could lead to fines, time in jail

The Russian finance ministry is moving to officially ban the production and circulation of the world’s leading cryptocurrency.

In a proposal released last week, the ministry detailed plans to outlaw the use of Bitcoin as legal currency, with aims to impose new penalties on companies and individuals that deal with digital currency.

A fine between three and five million rubles to jail time of up to seven years are being discussed as potential punishments, including the ceasing of business operations for those establishments like exchanges that deal in the cryptocurrency.

Also Read: Is Bitcoin Legal?

Pact Between UK and Australian Regulators

The FCA and ACIS come together to help foment fintech innovation

Regulators in the United Kingdom and Australia signed a cooperation agreement last Wednesday (Mar. 23) stating either party will refer innovative fintech companies to each other’s markets.

Such an agreement between the Financial Conduct Authority and Australian Securities and Investments Commission will help bridge the barrier to access in both markets that, according to Reuters reporting, are “estimated to have annual revenues of around A$12.5 billion (6.6 billion pounds) and A$1.3 billion respectively.”

It will be interesting to see if this develops into a common theme among fintech hubs around the globe as access to talent and progressive policy-making are key aspects to the success of those competing within the emerging industry.

Also Read: Australian Regulators Finalize New Regulations

Hyperledger On Verge of Merge
All but one committee member in favour of three-code amalgamation

The Hyperledger project neared a decision to merge its three central codebases contributed by Blockstream, Digital Asset and IBM at the first Hyperledger Hackathon.

The vote put to the technical steering committee was unanimous in favour of the merge of the Blockstream’s validation code, IBM’s OBC/UTXO Chaincode and Digital Asset Holding’s client layers, except for a single committee member.

The committee member was quoted by Coindesk as stating: “I’m a little concerned about making an agreement until I see something in writing. I’d feel better if we had a little more progress on the requirement side.”

While Philip DesAutels, the event’s emcee, could have went ahead and called a vote given the two-thirds majority requirement for approval set out in the charter would have likely been achieved, the event host backed away from it.

DesAutels also said, “This is open-source, we can take this wherever we want, but we do need to move forward. There’s consensus even if there’s not unanimity.”

The Hyperledger project, established in 2015 and headed by the Linux foundation, is a collaborative effort to advance blockchain technology with a “goal of presenting a clear explanation of what will distinguish the Hyperledger Project from efforts specifically mentioned, including Bitcoin and Ripple.”

Also Read: Hyperledger’s First White Paper

Some Upcoming Events …

Smart Contracts, Blockchain & Data Standards

A free half-day FinTech forum hosted by XBRL US will be held on Apr. 4 in New York City. Speakers from Consensys, ItBit, Markit, Nasdaq, Safeguard Scientifics will be featured. For more information visit:

Money 20/20 Europe

Touted as an “experience for European innovators” and “catalyst for the growth and development of the payments and financial services ecosystem.” To register go to: money2020europe.com/register-2016. Event runs Apr. 4 – 7.

World’s Largest Blockchain Trade Show

Debut in Toronto, Sept. 19-21. For more information visit

Press Contact:

Kevin Hobbs

Email: K@vanbex.com

PH: (604) 379-9032

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The Vanbex Report: Outlawing BTC a Matter of Control

Úno 10

Digital Asset Holdings Donates “Hyperledger” Name to Linux Foundation

Source: bitcoin

Digital Asset Holdings Donates “Hyperledger” Name to Linux Foundation

In a surprise move on Tuesday afternoon, Digital Asset Holdings (DAH) has decided to donate the Hyperledger trademark to The Linux Foundation. The Hyperledger project, a collaborative effort amongst technology industry giants such as IBM, Intel, Cisco, and Hitachi, along with services and banking institutions such as JP Morgan, Accenture, BNY Mellon, CME Group, SWIFT, and Wells Fargo, is creating necessary standards and protocols, which are not yet in place yet will make applications around distributed ledger technologies scalable and secure.

Also Read: Princeton Releases Free Academic Bitcoin Textbook

As the press release states:

“By creating a cross-industry open standard for distributed ledgers, virtually any digital exchange with value, such as real estate contracts, energy trades, marriage licenses, can securely and cost-effectively be tracked and traded.”

Recent interest by large banks and technology companies follows the surge of interest in 2015 from financial and regulatory circles to understand the potential of Bitcoin and Blockchain technology. Database infrastructure is at the core of creating reliable and cost efficient financial services, and the big players are starting to take a more active role in researching and experimenting with Blockchains in order to lower their costs, lower latency times, and increase data security.

Speaking to the importance of the Hyperledger initiative, Jim Zemlin of The Linux Foundation states,

“The Hyperledger Project has ramped up incredibly fast, a testament to how much pent-up interest, potential and enterprise demand there is for a cross-industry open standard for distributed ledgers.”

Use of the Hyperledger Trademark will be managed exclusively by the Governing Board of the Hyperledger Project with the approval of the Linux Foundation. One important goal of the initiative is to have alignment among participating members.

Alignment in understanding of and messaging about emerging technologies such as Hyperledger is a crucial step as the Bitcoin and Blockchain industry looks to improve its ties with more traditional financial institutions, regulatory communities and professional service firms. R3, the blockchain settlement banking consortium of over 40 financial institutions is now being joined by the likes of technology giants. The actively engaged and technically savvy Linux community should bring forth a valuable counter-perspective in the discussion around protocols and standards for Blockchains, as more traditional players have difficulty accepting the inherent secrecy these technologies are capable of enabling.

Regardless, it is important to remember that Bitcoin already falls under KYC and AML regulations as well as taxation reporting on income and capital gains to the IRS. This marriage of communities between those based primarily in Wall Street and those based in San Francisco is a fascinating cross-pollination, which will only help address uncertain legal issues moving forward.

This news also raises questions for Digital Asset Holdings (DAH). Since Blythe Masters, creator of the Credit Default Swap and formerly of JP Morgan, joined the initiative in March of last year there has been great speculation on what DAH’s first industry product may be. The company has raised more than $60 million from over 13 investors including Goldman Sachs, JPMorgan Chase & Co, Citigroup Inc, BNP Paribas SA, CME Group Inc and Accenture. Perhaps, it appears, DAH may be transitioning away from Hyperledger, or at least increasingly willing to collaborate with the technological leaders in the arena.

What are your thoughts on this move? What’s ahead for Hyperledger and Digital Asset Holdings? Can Silicon Valley and Wall Street work together? Share your thoughts below!

Image Source: Bloomberg, MediaBiz, DAH

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Digital Asset Holdings Donates “Hyperledger” Name to Linux Foundation