As the United Nations Refugee Agency warned in the first days of September, the death rate for refugees attempting to reach Europe has risen. That sounds even more cruel considering that the numbers trying to make the crossing has fallen.For every 18 people crossing to Europe over the central Mediterranean between January and July 2018, one person died. This is twice more than over the same period in 2017, when there was one death for every 42 refugees and migrants attempting the crossing.Summer in the United States brought the scandal with U.S. Immigration and Customs Enforcement agency (ICE) and Customs and Border Protection Agency (CBP). Both bodies were accused of having a zero tolerance policy and of separating illegal immigrant children from their parents. Annual immigration arrests have soared since January 2017, from 110,568 in 2016 to 143,470 in 2017.Although the buzzwords ‘refugee crisis’ were left in the year 2015, the problem of mass migration remains one of the central topics in the 21st century, given the vast number of economical and socio-political crises — from Syria to Venezuela — and even the global climate migration crisis, awaited by scientists. Given the importance and difficulty of a decent migration policy, can we rely on decentralized technologies to make it better? In fact, yes. The global passportThe first and foremost problem that could arise if you’ve been displaced or are fleeing from war, terror or hunger is the loss of documents. Refugees can be left without their passports, proprietary rights or diplomas during an emergency escape and the lack of security on their way to the countries of asylum. That, in turn, leads to problems and delays in the bureaucratic process of their identification and acceptance into their new homeland. As Norwegian Refugee Council research found, 70 percent of Syrian refugees lack basic identification and documents showing ownership of property.Host nations certainly has a share in the damage, as they face problems concerning the accessibility of vital information about the newcomers — dealing with the undocumented refugee, the immigration service can’t gain the information about his/her health status, family ties or criminal record, or verify any other vital data that helps them make a decision. Needless to say, this may lead to the designation of refugee status being exploited by economic migrants, fugitives or even the war criminals that caused the mass displacement to begin with.Not only governmental bodies deal with an individual’s documents, and thus the problems could get worse after asylum or even a new passport is granted. Being less binded by humanitarian ethics, business could have even more rigid demands for proven documentation. It’s hard enough to get a high-qualified and well-paid job even for a native professional, but the absence of a diploma lowers one’s chances to close to zero — regardless of real skills and career experience.The same could be applied to the myriad of other aspects of life in our highly bureaucratized world. From public medical assistance to bank credits, the lack of necessary papers put refugees in an excluded position and pushes them to other traditional structures — based on ethnicity or religion — that offer some compensation and assistance in the face of the host nation’s indifference. The results of such dynamics can barely be labelled as successful integration.Another important issue is data security. Refugees’ personal identities are carefully re-established with the support of clever biometric systems set up by the U.N. Agency for Refugees (UNHCR). UNHCR registers millions of refugees and maintains those records in a database. But the evidence suggests that centralized systems like this could be prone to attacks. As a report on UNCHR’s site notes, Aadhaar — India’s massive biometric database and the largest national database of people in the world — has suffered serious breaches, and last year, allegations were made that access was for sale on the internet for as little as $8. Funding and governingBut there’s a great distance between asylum seekers and their problems as a legal migrants in a new country — and not every refugee is able to cover it, even if all the necessary documents were brought safely. Despite the significant financial supply and the attention of various national, multinational bodies and nongovernmental organizations (NGOs), the problem of governance and funding remains a serious flaw in immigration policy.Awaiting the decision of host nations, refugees spend months and years in camps and centers, where they often lack the basic comforts and even security. Rounds and rounds of interviews, documents and appeal procedures separate them from their new life and they’re not safe from the failures and ineffective communication within the system. And the cost of a ‘statistically rare’ error is the individual destiny.Money distribution is another fundamental bureaucratic activity with a high risk of errors and malpractice. The cost of error is shockingly high. Researchers at the Bristol-based group Development Initiatives estimated that at least $22 billion of the $100 billion-plus reported by donors as bilateral official development assistance in 2011 was never transferred to developing countries. The money was instead spent on activities in donor countries, or put toward the cancellation or rescheduling of debts. In its report about the efficiency of Greek refugee camps in the midst of the Syrian crisis, subsidized by various international bodies, The Guardian cited an anonymous senior aid’s official estimation that as much as $70 out of every $100 spent had been wasted.In its 2017 report, Human Rights Watch warned about the lack of transparency in donor funding, specifically in providing education opportunities for at least 1.6 million school-age children from Syria. NGOs accounted for hundreds of millions of under-delivered funds and highlighted the main problems — among them were the lack of information about the projects that donors are funding and their timing; and a lack of consistent, detailed and timely reporting by donors.Finnish experimentFinland, a country with a population of 5.5 million, cannot boast huge numbers of refugees. For 2018, it set a quota of 750 people, mainly flying from Syria and the Democratic Republic of Congo. That’s way less than neighboring Sweden, which promised to take in 3,400. Nevertheless, the country sets a global example of the use of effective technology in immigration policy: It’s using blockchain to help the newcomers get on their feet faster.For three years already, the Finnish Immigration Service has been giving asylum seekers prepaid Mastercards instead of traditional cash disbursements, and today, the program has several thousand active cardholders. The card is linked to a unique digital identity stored on a blockchain. The system, developed by the Helsinki-based startup MONI, maintains a full analogue of a bank account for every one of its participants.People can use their accounts to pay bills, shop or receive salaries. Every transaction is recorded in a public database maintained by a decentralized network. This enables the Immigration Service to keep track of the cardholders and their spending. And for immigrants, a MONI account means a simple and ready-to-use banking tool, as well as the permanent ability to verify their identification to their employers.From Soros secrets to U.N. adoptionSpeaking at the World Economic Forum in Davos in January 2018, the billionaire investor and philanthropist George Soros revealed that his structures already use a blockchain in immigration policies:“Blockchain technology can be put to positive use. And we use it, actually, in helping migrants to communicate with their families and to keep their money safe and to carry it with them.” However during the Q&A session, Soros didn’t reveal the details of this implementation and no additional information has been shared ever since. While billionaires keep their good deeds in secret, the U.N. — the main international force in providing humanitarian aid and migration assistance — already stepped up in adopting blockchain technology.In 2017, Accenture and Microsoft Corp. teamed up to build a digital ID network using blockchain technology, as part of a U.N.-supported project to provide legal identification to 1.1 billion people worldwide with no official documents. The companies unveiled a prototype of the network at the U.N. headquarters during the second summit of ID2020.The aim of the tool is to store biometric data — a fingerprint or an iris scan — on a blockchain and thus help individuals prove their identity, even in the case of the loss of paper documentation. The platform also will connect existing record-keeping systems of commercial and public entities. David Treat, a managing director in Accenture’s financial services practice, went as far as to state that such digital identity is a “basic human right”:“Without an identity, you can’t access education, financial services, healthcare — you name it. You are disenfranchised and marginalized from society.”The U.N. is no stranger to the blockchain at all. The multinational body held a variety of public events discussing the innovative technology — and in July 2018, even set up the “High-Level Panel on Digital Cooperation,” which explicitly puts blockchain technology on the agenda. Earlier in May, it signed a Memorandum of Understanding (MOU) with blockchain platform IOTA to explore how the technology could increase efficiency.The organization is also responsible for one of the largest-ever implementations of the Ethereum blockchain for a charitable cause in recent history. In May 2017, the U.N.’s World Food Programme (WFP) directed resources to thousands of Syrian refugees by giving the refugees cryptocurrency-based vouchers that could be redeemed in participating markets.The codes of cryptographically unique coupons representing an undisclosed number of Jordanian dinars have been sent to dozens of shops. What it takes from cashiers is just to verify the user’s identity by using eye-scanning hardware. The pilot program alone, which ran for 10,000 Syrian refugees, has been said to save the agency $150,000 a month while eliminating a 98 percent of bank-related transfer fees.In February 2018, Robert Opp, a director at the World Food Programme, told Bloomberg that the U.N. would expand its blockchain-payments system. The agency expects to cut millions of dollars in bank transfer fees by switching to distributed ledgers based on the Ethereum digital currency network. WFP’s official site mentions that, as of January 2018, more than 100,000 people residing in camps have redeemed assistance through the system. And the next stage of the project will see an expansion to all 500,000 Syrian refugees in Jordan receiving support from the WFP.And at least six other U.N. agencies — including the U.N. Office for Project Services (UNOPS), the U.N. Development Programme (UNDP), the U.N. Children’s Fund (UNICEF), U.N. Women, the U.N. High Commissioner for Refugees (UNHCR) and the U.N. Development Group (UNDG) — are now considering blockchain applications that could help support international assistance, particularly supply chain management tools, self-auditing of payments, identity management and data storage.Of course, blockchain can’t solve all of the political problems that immigration policy suffers. It’s just a technological tool — albeit a very ambitious one — and it won’t teach the xenophobes compassion, and won’t guarantee refugees successful cultural integration or create well-paid, meaningful and socially protected job vacancies. It is useful for policy but can’t be a substitute for political will.We also can’t simply brush off the controversial nature of the degree of control which blockchain promises to the host nations and humanitarian agencies. Decentralized ledger technology (DLT) undeniably takes pride in its crypto-anarchic and cypherpunk roots, and challenges the power we’ve given to governments and financial systems. Thus, we can’t question something illiberal in those biocontrol capacities that blockchain could help obtain for governmental immigration agencies.Immigration probably won’t become a less problematic topic any time soon, as long as we have wars, hunger and inequality — not to mention the looming threats of climate change — and the lack of a final philosophical solution to the question of borders and national welfare. But what blockchain could do is to help refugees get more transparent and generous financial aid, save their vital documents and track the process of applications without any human mistakes. That sounds like a good package for a start. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
A new Hong Kong government initiative seeks to attract professionals in Distributed Ledger Technology (DLT) by simplifying the immigration policy, according to a press release published August 28.On Thursday, the government of Hong Kong published its first Talent List aimed at attracting “highly skilled” experts in 11 different fields, including fintech, DLT, and cyber security, from around the world. The move designates the government’s intention to “support Hong Kong’s development as a high value-added and diversified economy.”According to the press release, Hong Kong will facilitate successful applicants under the Talent List through the Quality Migrant Admission Scheme (QMAS). The QMAS has an annual quota of 1,000 people. The Chief Secretary for Administration and Chairman of the Human Resources Planning Commission, Matthew Cheung Kin-chung, said:“The promulgation of the Talent List is one of our major initiatives to enhance our competitive advantages in attracting international talents, creating cluster effects, stimulating the development of local talents and propelling Hong Kong forward.”While Hong Kong continues taking regulatory actions towards digital currencies and Initial Coin Offerings (ICOs), stating that the new technology “comes with risks,” it seems to have set sights on becoming an international blockchain hub.Last month, the Hong Kong Monetary Authority (HKMA) announced the launch its own blockchain trade finance solution with 21 banks in August, aiming to substantially reduce paperwork, costs, and security risks for participants.In June, the HKMA signed a fintech collaboration agreement with the Financial Services Regulatory Authority of the Abu Dhabi Global Market “to start a dialogue on the opportunity to build a cross-border trade finance network using [DLT].” That month, Alibaba subsidiary Ant Financial trialled its first blockchain remittances, sending a transaction in three seconds between its AliPayHK app in Hong Kong and Filipino payment app GCash.The Hong Kong University of Science and Technology Business School (HKUST) recently received a $20 million research grant to improve the security capabilities of electronic payment systems earlier this month.Additionally, the HKUST in partnership with the University of Hong Kong are planning to explore blockchain technology applications, and discuss the possibility of Hong Kong’s transformation into a global fintech hub. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
Economy & Regulation
Authorities in Hong Kong have taken steps to attract fintech specialists who can support its economic development. The government of the Chinese region has prepared a list of needed professions from several related fields, including distributed ledger technologies and asset management.
Also read: China Escalates Crackdown, Russia Chases Shadows, UK Warns of Scams
Hong Kong Updates Immigration Policy to Attract Fintech Professionals
As part of new efforts to underpin Hong Kong’s development as a “high value-added and diversified economy,” the government of the special administrative region of China is now moving to facilitate the immigration of “quality people” from around the world. To do that, Hong Kong authorities have drafted a “Talent List” of 11 in-demand professions, a number of which belong to the fintech industry, and intend to publicize it under the banner “Hong Kong. Talent Hub – Unlimited Opportunities.”
In an announcement published on its website, the government notes that the list highlights specific professions needed most for Hong Kong‘s economic development. Beside waste treatment specialists, engineers and naval architects, the city wants to attract foreigners with expertise related to the crypto and blockchain space. According to the notice, Hong Kong is interested in fintech professionals and innovation and technology experts in fields like distributed ledger technologies (DLT), or blockchain, data engineering, including mining and analytics, artificial intelligence and robotics, cyber security.
Authorities are also eager to invite experienced professionals in asset management, including trust fund management, as well as legal experts specializing in resolving international financial and investor-state disputes and lawyers with knowledge in cross-border transactions from investing or host states. Matthew Cheung Kin-chung, Chief Secretary for Administration and Chairman of the Human Resources Planning Commission has been quoted saying:
Hong Kong welcomes talents from all over the world with valuable skills, knowledge and experience to work here, bringing their talent into full play and further developing their careers. The promulgation of the Talent List is one of our major initiatives to enhance our competitive advantages in attracting international talents, creating cluster effects, stimulating the development of local talents and propelling Hong Kong forward.
No Prior Employment Arrangement Required
The authors of the official announcement have also pointed out that immigration facilitation will be provided to eligible persons through Hong Kong’s Quality Migrant Admission Scheme (QMAS). Its current annual quota is 1,000. Foreign nationals approved under QMAS are free to settle in Hong Kong. People with professions included in the Talent List will not be required to have secured in advance an offer from a local employer.
Detailed information about the scheme is available on the Talent List’s dedicated page and the website of the Immigration Department. Authorities are already accepting applications from eligible individuals with the qualifications included in the list, which has been prepared after consultations between the government and the stakeholders. The document will be updated on a regular basis to reflect the changing needs of Hong Kong’s economy.
The news about the Talent List initiative in Hong Kong comes amid an escalating crackdown on the crypto sector in mainland China. After banning coin offerings and crypto-yuan trading last year, and recently targeting crypto-media and venues hosting events in the space, Chinese regulators have also announced intentions to curb payments to overseas crypto exchanges. Their latest efforts to restrict crypto-related activities involve the big three of the Chinese internet – Baidu, Alibaba and Tencent.
Do you think Hong Kong is attractive to fintech professionals? Share your thoughts on the subject in the comments section below.
Images courtesy of Shutterstock.
Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin.
The University of Malta has partnered with the Malta Information Technology Agency (MITA) to establish a €300,000 ($351,000) blockchain and distributed ledger technology (DLT) scholarship fund, Times of Malta reported August 29. The new scholarship is targeted at students studying information and communications technology (ICT), law, finance, and engineering, and will be split over three years. Starting this coming academic year, students can apply the scholarship to completing their Master’s and PhD research dissertations in blockchain and DLT. The move comes amidst governmental efforts to attract blockchain companies to Malta by ensuring sufficient staffing capacity locally. Silvio Schembri, the digital economy parliamentary secretary, said that he would like to see Maltese graduates holding important posts in the field: “These companies need technical resources both to build and to operate by use of this technology, as well as experts in financial services, law, and managerial roles.” University rector Alfred Vella said that the university is looking to integrate units relating to DLT, blockchain, digital currencies, artificial intelligence (AI), fintech, and regtech into degree and Master’s programs in law, finance, ICT, and other fields. MITA executive chairman Tony Sultana noted that the agency has been pursuing similar initiatives at other educational institutions. Malta is known for its crypto-friendly environment and its public efforts to become the “blockchain island.” Last month, the Parliament of Malta passed three bills into law that establish a regulatory framework for blockchain technology, making the island nation a pioneer in providing a solid legal framework for blockchain companies. In May, the Transport Minister of Malta announced a partnership with U.K. middleware blockchain startup Omnitude to improve the Maltese Public Transport Service by deploying distributed ledger technology. Additionally, the Malta Gaming Authority (MGA) has proposed guidelines on blockchain and cryptocurrency applications in the gaming industry, aiming to apply standards to games that use cryptocurrencies and blockchain technology. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
Project Infinity, launched by the NEX Group (formerly ICAP) in May 2017, could be the biggest bleeding with a cost of about $ 31.7 million and bleeding dozens of jobs, says former employees.
Driven by Jenny Knott, former director of NEX Optimization, the project had a big vision of bringing the company's entire post-trade services portfolio to an interoperable block-chain architecture. However, NEX issued a profit warning in October 2017, and only two weeks later, Knott left the company.
In the initial project blow, the result sentence specifically stated that the investment in the block chain reduced margins by 4 percentage points.
According to sources, the sale of a $ 5.5 billion business to CME, announced by Michael Spencer of NEX in March 2018, has driven the company to cut costs.
A former cadre of NEX, who asked for anonymity, told CoinDesk: "They have greatly reduced it. [Spencer] We will not invest another penny that will not earn short-term returns."
A source in the block-chain industry who said his company hired a former employee of Infinity went further, claiming that the project was not "downsizing" but in fact "canned."
"They cleared Knott and quietly canned the project about two months ago, and 47 of 50 employees were fired."
CoinDesk talked to five former NEX employees. NEX staff confirmed all significant staff reductions, if not specific numbers. One added that nine of his ten jobs in his particular department were lost and that there are a few departments like his job. The other person confirmed the appearance.
"Almost all the people who work strategically are gone.
A former employee decided to make Infinity a "program" by NEX, accidentally cutting costs and boosting expectations.
"If you create something with a program, it means you are hiring people who plan your work and do a lot of spreadsheets," said the former employee.
"There were a lot of people dealing with business requirements and managing user groups to get feedback, some of which were essential, but not the size that was done," he added.
Another cost factor associated with Traiana is that the NEX department and the project are most closely related, and they are doing an infrastructure upgrade that ends with the book of the project, thereby increasing the perceived cost, they said.
But NEX is arguing about the claims of all employees.
Andrew Choussy, chief executive of Traiana, said Project Infinity was never displayed. On the contrary, he said he entered the execution phase in the real environment with the block chief builder Axoni. But he admitted that the project was downsizing.
"[Infinity] There was a vision, and the vision is a healthy vision that we still want to try, but it is realistic," Choussy said.
"Many DLT initiatives can see this. Since it's not easy to turn a market into a whole new thing, what we have done is to focus our efforts on a specific application that is actually a plan-specific use case." .
NEX did not mention the number of jobs shed in the project, but confirmed that the number of staff involved was reduced. A specific number was not provided by the company.
Choussy said the DLT portion of the project has been scaled down to focus on FX after the deal.
NEX was a renewed investor in Axoni's recently announced Series A funding round. Axoni is called "building a large-scale FX post-trade data network."
NEX is also an investor in Digital Asset, a DLT provider, and one of the early members of the USC (Utility Settlement Coin) project, despite the fact that a source belonging to the USC escaped communication with the group.
Block Chain Blues
All of the engineers in this project were drawn to the difficult challenges that met DLT's use-case requirements and missed the opportunity to submit their products.
Axoni was initially selected. Because NEX's former engineer said it provided a unique partitioning feature that was different from other vendors. Initially, throughput was an issue, but the project evolved and transaction processing speeded up, he said.
In addition to the work done by Axoni, the engineer built a Hyperledger implementation that implements private partitioning by creating an internally constructed ledger ("basically a glorious replication system, but using encryption credentials and compulsory privacy controls) Very high throughput can be achieved.
"There was a tremendous layoff, and when the entire London team was fired I was really hit by the edge of the razor blade," he added.
"The politics of the situation has changed, and we were getting ready to get things done for the CME acquisition."
Infinity's DLT architecture is the backbone of the one-stop financial cloud that provides machine learning, and it is anchored and immortalized by a very rich set of data from multiple parties, including brokers, banks, and buy-side.
Eventually this became ironic irony. An anecdote said by an ex-employee, the next day after the machine learning team is dismissed, Davos is excited about machine learning and artificial intelligence and asks what NEX is doing in that area.
The former employee proposed an artificial intelligence strategy for the entire company.
When NEX becomes an asset to CME, a US giant, the project Infiniti opinion on how fair the debris of the block chain is. Former NEX technology team members said the first vision of a multipurpose post-trading ledger with a data analysis platform is still of great value and could be "a gem of a crown" in CME's eyes.
But the former CEO was skeptical about the evolution of Infinity. "CME has its own ledger payment strategy."
The CME group refused to comment when it reached.
Images via YouTube
CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
(f.fbq) return; n = f.fbq = function () n.callMethod?
n.callMethod.apply (n, arguments): n.queue.push (arguments); if (! f._fbq) f._fbq = n;
n.push = n; n.loaded =! 0; n.version = & # 39; 2.0 & # 39 ;; n.queue = ; t = b.createElement (e); t.async =! 0;
t.src = v; s = b.getElementsByTagName (e) ; s.parentNode.insertBefore (t, s)} (window,
Document, & # 39; script & # 39 ;, & # 39; // connect.facebook.net/en_US/fbevents.js');
fbq (& # 39; init & # 39 ;, & # 39; 472218139648482 & # 39;);
fbq (& # 39; track & # 39 ;, & # 39; PageView & # 39;);
Distributed ledger startup Hedera Hashgraph announced Wednesday that it raised $ 100 million to build its platform and start the network.
The Shanghai Stock Exchange sees the DLT's potential in the securities market, but says that the lack of a regulatory framework is an obstacle to be addressed.
The Shanghai Stock Exchange is pushing the use of DLT in the securities market, but the lack of a regulatory framework is currently a major hurdle.
Hong Kong's bank regulatory authority plans to expand cross-border trade finance business using distributed led technology