French commercial court clerks will use a blockchain-based platform to record changes in companies’ legal status within the country. The development was revealed in an official announcement on March 14. The blockchain network was jointly developed by IBM and the National Council of Clerks (NCC) and will reportedly be deployed starting in 2019 by the clerks operating in commercial courts across France. The blockchain platform is built on the Hyperledger Fabric framework and aims to increase transparency and efficiency in legal transactions associated with the lifecycle of companies in the registry. Specifically, the solution will be used to record and …

The Association of German Private Banks (Bankenverband) foresees that a need for new regulation may arise from the emergence of distributed ledger technology (DLT)-based securities. The association expressed its concerns in a post on its official website on March 11, Cointelegraph auf Deutsche reported. Per the post, if securities are issued using new technologies, then there is a need for new safekeeping and settlements processes. According to Bankenverband, corporate actions and securities trading may also be subject to change because of DLT-based securities. The statement further explains that because of the changes that new technologies will create in business processes, …

Estonia-based Nasdaq-powered digital trading platform DX.Exchange is claiming an industry first with its launch of security token trading and security token offering (STO) listings. The development was shared with Cointelegraph in a press release on March 14. As previously reported, DX.Exchange went live in January, with support for various fiat and cryptocurrency trading pairs and tokenized stocks. In March, the platform added tokenized exchange-traded funds (ETFs) to its supported products. According to the press release, the platform now allows investors to purchase security tokens using both fiat and major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Ripple …

Major United Kingdom energy company OVO has invested in blockchain firm Electron through its recently launched technology division, Kaluza. The development was announced in an OVO blog post published on March 12. Kaluza — an intelligent grid technology company that provides software and hardware products to the energy sector — has reportedly made an investment in Electron, a London-based energy tech company that uses blockchain technology. The move aims to facilitate Electron’s deployment of distributed energy trading platforms. Electron will purportedly use the proceeds of the investment to develop its energy platforms and systems, or its distributed flexibility marketplace. “The …

Dutch blockchain startup Finturi has secured 2 million euro ($2.2 million) to enable businesses to secure loans against invoices via blockchain tech, the company tweeted on March 12. Founded in September 2018, Finturi aims to help businesses finance invoices by linking them with financiers to borrow money against invoices, using blockchain and artificial intelligence (AI), according to a report by startup-focused publication EU-Startups.com on March 11. Finturi has reportedly raised its first investment via an angel round led by NetSam Participaties BV, which evidently participated in an investment round for the first time, according to Crunchbase. Finturi’s blockchain-based invoice finance …

A recent report to the European Union made recommendations on how to better develop blockchain technology, including the introduction of interoperability and scalability standards. The report was published by the European Union Blockchain Observatory and Forum on March 6. The report dubbed “Scalability, Interoperability And Sustainability of Blockchains” was prepared by blockchain tech firm ConsenSys on behalf of the European Union Blockchain Observatory and Forum. It provides insight into the current and potential future states of blockchain in Europe, considering the input of different stakeholders and sources. The authors recommend standards for digital identities and interoperability between blockchains, stating that …

The German Federal Ministry of Finance has published a key issues paper on the treatment and regulation of blockchain-based securities, according to a ministry announcement on March 8. In the paper initially released on March 7, the regulator discusses the introduction of regulations for electronic securities and the issuance of crypto tokens. The document stipulates that the regulation of electronic securities should be technology-neutral, which means that they could be based on blockchain, or distributed ledger technology (DLT). The issuance of crypto tokens purportedly will not be subject to existing market regulations since crypto tokens do not represent securities, investment …

Malta Digital Exchange (MDX) is moving in with the Malta Stock Exchange (MSE) in contemplation of the launch of its digital exchange division, the Times of Malta reported on March 5. MDX is reportedly in the process of obtaining a securities license to promote a multilateral trading platform that will introduce a secondary market for digital assets trading. MDX founder and executive chairman Rick Klink said that the “move to the Maltese Stock Exchange means that we are now physically positioned to be at the heart of the next wave of institutional financial innovation.” The move comes the wake of …

Blockchain property transaction platform blockkimo Ltd along with two other companies have jointly completed “the first” real estate transaction on a blockchain in Switzerland. The development was announced by blockimmo in a blog post on Mar. 1. Blockimmo, proptech company Elea Labs Ltd. and digital assets service firm Swiss Crypto Tokens Ltd. have conducted a blockchain-based real estate transaction — consisting of 18 apartments and a restaurant — at a cost of 3 million Swiss francs ($2.98 million). The property was reportedly tokenized, which means that its real asset value is now represented digitally on the Ethereum (ETH) blockchain in …

Sam Palmisano — retired IBM chairman and current chairman of United States nonprofit The Center for Global Enterprise — says he doesn’t know of a solution that has been found to make public blockchain networks compatible with European data privacy laws. Palmisano made his remarks during a joint interview for Bloomberg Markets with David Kappos, partner at U.S. law firm Cravath, Swaine & Moore, which was broadcast on the Bloomberg Technology channel on March 4. Palmisano and Kappos focused on the interaction between blockchain innovation and the General Data Protection Regulation (GDPR) — a landmark European Union-wide legal framework for …

The Swiss fintech market grew by 62 percent in 2018, according to a recent study by the Lucerne University of Applied Sciences published on Feb. 27. The Lucerne University of Applied Sciences undertook an in-depth review of Switzerland's fintech market for the fourth time. The report dubbed "IFZ FinTech Study 2019" reveals that on a global scale the cities of Zurich and Geneva remain in second and third place for the best cities for fintech, respectively. The fintech sector inside the country grew 62 percent over the previous year. Per the analysis, Switzerland had 356 fintech companies in 2018, compared …

Switzerland will host the Swiss Blockchain Hackathon later this year in a bid to help companies find real-life applications of blockchain technology, according to an announcement published on Feb. 27. The three-day event is reportedly organized by Switzerland’s six leading blockchain and IT organizations — Trust Square, Bitcoin Association Switzerland, CV Labs, Crypto Valley Association (CVA), Swiss Blockchain Federation and swissICT — and will take place from June 21 to June 23, 2019. Per the announcement, the hackathon is designed to facilitate the deployment of blockchain across a wide range of industry sectors and help find the technology’s tangible applications …