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Malaysia Central Bank has Final Say on Cryptocurrency Issuance

Malaysia has indicated that the country’s central bank has the last word regarding the introduction of new cryptocurrencies. According to the Minister of Finance, Lim Guan Eng, the country’s central bank Bank Negara Malaysia (BNM), will have to be consulted regarding cryptocurrency projects as the final decision rests with the apex bank. Continue reading Malaysia Central Bank has Final Say on Cryptocurrency Issuance

South Korea to Track Beef Through Entire Supply Chain on a Blockchain

A blockchain technology pilot aimed at tracking beef through the entire food supply chain has been announced in South Korea. The pilot will be jointly undertaken by the Ministry of Science and ICT and the Ministry of Agriculture, Food and Rural Affairs, according to Yonhap News Agency. The launch date has been set for next month in North Jeolla Province and after a brief trial period, there will be a formal unveiling of the blockchain application in January next year. Continue reading South Korea to Track Beef Through Entire Supply Chain on a Blockchain

BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain

Two European and one Japanese bank one have completed the first blockchain-based syndicated loan.

Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. Continue reading BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain