Blockchain Refresh: Why KPMG’s New Strategy Focuses on Customs

  KPMG has decided to “refresh” its distributed ledger technology (DLT) strategy, according to new U.S. blockchain lead Arun Ghosh, who took over the group in September. Revealed exclusively to CoinDesk, the Big Four consultancy has taken to expanding its blockchain activities beyond the pure financial services work it had been doing, to explore a less-traveled path. Specifically, KPMG is homing in on the point where cross-border manufacturing and supply chain meet finance, customs duty, taxation and compliance. This is different than the usual supply chain use case, Ghosh said.…

Deloitte Blockchain Chief: Bad Crypto Headlines Making Clients ‘Nervous’

  “Can we stop talking about my bad brother?” That’s how Linda Pawczuk, leader of Deloitte Consulting’s financial services industry blockchain group, describes the conversations she often has these days with executives and board members of client companies. Pawczuk’s team is squarely focused on helping decades-old, global enterprises figure out how to use distributed ledger technology (DLT) to transform their paper-based business processes for a digital age. But recently, she said, these clients have been asking about the wilder side of blockchain they’ve read about in the news: the initial…

Cboe’s Head of Equity Options Just Joined a Blockchain Startup

  Blockchain startup AlphaPoint has hired a senior executive from Cboe Global Markets, the parent of the Chicago Board of Exchange. Revealed exclusively to CoinDesk, Kapil Rathi joined AlphaPoint as global head of trading markets,  a newly created position, and will be in charge of the company’s trading and exchange business. He was previously Cboe’s head of equity options, and earlier worked at the New York Stock Exchange, ISE (now a part of Nasdaq) and Bats Global Markets, which Cboe acquired in 2017. Rathi told CoinDesk that he has been watching…

IBM and Maersk Struggle to Sign Partners to Shipping Blockchain

It’s hard enough to get enterprises that compete with each other to work together as a team, but it’s especially tricky when one of those rivals owns the team. Shipping giant Maersk and tech provider IBM are wrestling with this problem with TradeLens, their distributed ledger technology (DLT) platform for supply chains. Some 10 months ago, the project was spun off from Maersk (the largest container shipping company on the planet) into a joint venture with IBM. But in that time the network has enticed only one other carrier onto…

Australian Government Agency Says Blockchain ‘Interesting’ But Hyped

  The Australian government agency dedicated to streamlining the country’s IT operations has called blockchain “interesting,” but said it is hyped by firms working with the tech. The chief digital officer of the Digital Transformation Agency (DTA), Peter Alexander, indicated the view was arrived at after the organization received  AU$700,000 (about US$500,000) from the government in May to explore blockchain applications within government services. “Blockchain: Interesting technology but early on in its development, it’s kind of at the top of a hype cycle,” Alexander said at a parliamentary committee meeting on Tuesday,…

R3’s Hearn and Brown Say Enterprise Blockchain’s Day of Reckoning Is Here

This space ain’t big enough for all of us. That about sums up the way R3’s technical chiefs, CTO Richard Gendal Brown and lead platform engineer Mike Hearn, view the rivalry among enterprise blockchain solutions. While it may be more genial and less chaotic than the public blockchain world that Hearn left behind when he quit work on bitcoin in 2016, enterprise tech is still a competitive business. And speaking to CoinDesk last week during R3’s CordaCon event in London, the two executives described this game as, if not quite…

Aussie Blockchain Powers P2P Solar Power Trading in Upscale Bangkok Community

Australian solar startup Power Ledger, the developer of a peer-to-peer (P2P) energy marketplace on a blockchain, has commenced a trial in Bangkok enabling residents to buy and sell solar electricity. In a first-of-its-kind trial in Asia, residents and habitants of Bangkok’s T77 precinct are participating in an ‘across the meter’ energy trial that allows users’ to trade their excess electricity – generated by renewable solar power – over a blockchain marketplace that’s accessible by an 8-hectare centrally-located Bangkok precinct on the city’s electricity grid. Participants in the affluent community’s energy…

7 Investors Back World’s First Blockchain Bond, Demand From Institutions

The Commonwealth Bank of Australia (CBA) and the World Bank launched the first blockchain bond in the global finance sector this month. Already, institutional investors are showing increasing interest. On August 10, CCN reported that World Bank selected CBA, the biggest bank in Australia, to issue the world’s first blockchain bond based on the Ethereum blockchain network. Bond-I, the blockchain-based debt instrument, implemented Microsoft’s blockchain cloud computing platform Azure that is compatible with the Ethereum network to settle orders, after Microsoft confirmed that Ethereum is able to securely facilitate investments…

UK Government Pilots Storage of Digital Evidence on a Blockchain

  The UK Government has disclosed plans to conduct a pilot project for storing digital evidence on a blockchain. The initiative was revealed in an announcement by Balaji Anbil, Head of Digital Architecture and Cyber Security at Her Majesty’s Courts and Tribunals Service (HMCTS) under the Ministry of Justice. Court Reform In the announcement, Anbil revealed that the HMCTS push to look into distributed ledger technology forms a major part of the body’s court reform plan. HMCTS and the UK Cabinet Office Open Innovation team held a joint meeting to…

Factom Seeks Patent for ‘Secret Data’ Sharing on a Blockchain

Factom, a system for auditing and securing millions of real-time records using blockchain technology, has filed another blockchain patent application for the advancement of its operations this year. CCN reported earlier this month that the data distribution company had filed a patent application for a system enabling document validation on the blockchain, a feature likely to be integral for the future operations of the platform’s services to governments, companies, and non-profits. The firm’s second proposal, published by the U.S. Patent & Trademark Office (USPTO) today, on Aug. 23, has a…