A Glimpse of Banking’s Future, Live on the Ethereum Blockchain

At first glance, this week’s move by the investment bank Societe Generale to issue a security token-like bond in which it was both the issuer and the sole investor might seem like a pointless act. Not so much a peer-to-peer transaction; just a peer transaction.

But one element of the announcement suggests this was actually an important step in financial institutions’ sometimes fractious relationship with cryptocurrencies and blockchain technology. You see, Societe Generale’s $112 million bond issue used smart contracts built not a private, permissioned blockchain but on the public, permissionless ethereum blockchain.

Read more https://www.coindesk.com/societe-generales-work-with-public-ethereum-is-a-big-deal

French Lender Societe Generale Issues $112 Million Bond on Ethereum

French financial services giant Societe Generale Group has issued about $112 million worth of bonds in the form of a security token on the public ethereum blockchain.

Announced today, a subsidiary called Societe Generale SFH used the OFH token (obligations de financement de l’habitat, or home financing obligations) to represent 100 million euros of covered bonds, a type of security that is backed by specific assets but remains on the issuer’s balance sheet.

Read more https://www.coindesk.com/french-lender-societe-generale-issues-112-million-bond-on-ethereum

Ethereum (ETH) Price Hesitates But Further Gains Seem Likely

  • ETH price traded to a new 2019 high near $188 and recently corrected lower against the US Dollar.
  • The price corrected below the $180 level and tested the key $174-175 support area.
  • There is a major bullish trend line in place with support at $174 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains supported on dips and it is likely to test the $188 or even $190 level in the near term.

Read more https://www.newsbtc.com/2019/04/09/ethereum-eth-price-hesitates-but-further-gains-seem-likely/

Former Obama Tech Officer Raises $3.7 Million for Blockchain SaaS Startup

Offchain Labs, a startup co-founded by a former Obama administration official, has raised a $3.7 million in seed funding.

The round was led by Pantera Capital and included participants such as Compound VC. Offchain Labs co-founder Ed Felten, a computer science professor at Princeton University and former deputy U.S. chief technology officer in the Obama White House, told CoinDesk his software-as-a-service (SaaS) startup will focus on “scaling smart contracts” for enterprise use cases.

Read more https://www.coindesk.com/former-obama-tech-officer-raises-3-7-million-for-blockchain-saas-startup

Ethereum is game-changing technology, literally.

Non-cooperative game theory, the original and most widely used branch of game theory, assumes the absence of an external authority to enforce rules. Fundamentally, I claim that the Ethereum ledger constitutes an incorruptible, omnipresent, external overseer that no matter the game isalwaysavailable to enforce agreements among players. This implies that Ethereum, in theory, could turn any non-cooperative game into a cooperative (also called coalitional) game.

Read more https://medium.com/@virgilgr/ethereum-is-game-changing-technology-literally-d67e01a01cf8

Coinbase Reveals Hot Wallet Coverage Up to $225 Mln Via Lloyd’s of London Broker

Major American cryptocurrency exchange Coinbase has revealed details of its insurance coverage for its hot wallet crypto holdings, reportedly covering a $255 million limit via a Lloyd’s of London-registered broker. The details were disclosed in an official blog post from Coinbase’s Chief Information Security Officer (CISO) Philip Martin on April 2.

Read more https://cointelegraph.com/news/coinbase-reveals-hot-wallet-coverage-up-to-225-mln-via-lloyds-of-london-broker

Hershey Chocolate Company Joins Blockchain Advertising Consortium

Blockchain-based consortium AdLedger has on-boarded The Hershey Company, a leading American chocolate production company, media outlet AdWeek reported on March 26.

Hershey, along with French media group Publicis Media and The Global Audience Based Buying Conference & Consultancy (GABBCON), has reportedly joined AdLedger. AdLedger was founded by IBM, Tegna and blockchain company MadHive in 2018, and is a nonprofit consortium that develops shared ledger technologies for the digital advertising market.

Read more https://cointelegraph.com/news/hershey-chocolate-company-joins-blockchain-advertising-consortium

Blockchain Reality Does Not Match Advertisement, Says World Bank Official

The World Bank has become the latest source of criticism over blockchain technology, this time urging caution over its role in land rightsReuters reported on March 27.

Speaking at the ongoing 20th Annual Conference on Land and Poverty in Washington, D.C. this week, Aanchal Anand, a Land Administration Specialist in the bank’s Global Land and Geospatial Unit, cautioned against the phenomenon informally known as “blockchain hype.”

Read morehttps://cointelegraph.com/news/blockchain-reality-does-not-match-advertisement-says-world-bank-official