Latest Articles

With Blockchain for Europe, Ripple and Cardano Hope to Guide Regulation

Four major blockchain companies, including Ripple and Cardano, have formed a new association called Blockchain for Europe with the goal of promoting and guiding regulation around blockchain technology across the European Union.

A Medium post from NEM, another founding member of Blockchain for Europe, announced the news on Tuesday, December 4. Fetch is the fourth company involved in the initiative.

The association’s goal is “to foster the understanding within EU- and member state institutions on the true nature and potential of distributed ledger (DLT) and blockchain technology, and to ensure that upcoming regulation promotes and boosts innovation in Europe,” according to the blog post.

Meeting Crypto Regulation Head-On

It seems a safe bet that working to influence regulatory laws in the crypto space will be one of the association’s chief activities. NEM’s blog post indicated that the group wants to “create smart regulation” surrounding blockchain technology. It also emphasized the value of allowing policymakers and blockchain companies to “engage directly and transparently” with one another.

Measured against the regulatory backdrop in the EU, a concern with regulation on the part of Blockchain for Europe is easy to understand. Regulations like the GDPR and a proposed copyright initiative have driven home just how interested European lawmakers have become in recent years in placing tighter controls over the digital realm.

Blockchain for Europe likely hopes to meet regulatory challenges head-on — and perhaps to educate policymakers about blockchain technology so that the laws they write reflect a real understanding of how blockchains work, rather than the specter of fear and uncertainty that has arisen from ICO fraud and the use of bitcoin for illicit purposes.

Why Europe?

At this point, you might be wondering why the companies that formed Blockchain for Europe would be so concerned with regulations in the EU in particular. All four companies operate globally, and none of them even has its headquarters in the EU (well, Fetch is based in the United Kingdom, but that likely won’t remain part of the EU for long).

The reason is probably that these companies hope to set a precedent in the EU for blockchain regulations that other jurisdictions will adopt. Strict regulations on blockchain companies inside the EU would likely not prove catastrophic for any of these companies, but by starting the regulatory battle in Europe, they can get ahead of blockchain regulations elsewhere, too.

That’s a way of saying that what Blockchain for Europe does may well end up mattering for you, wherever you are.

State Farm Is Testing a Blockchain-Based Subrogation Manager

State Farm announced on December 10 that it is experimenting with a blockchain-based solution for managing the subrogation process in the insurance industry, making the company the latest major enterprise to explore blockchain technology.

LinkedIn Finds Blockchain Developer to Be 2018’s Most Rapidly Growing Job

Distributed Summary:

  • In 2018 U.S. Emerging Jobs Report, LinkedIn says blockchain developer hiring grew by 33x
  • Top skills required for the position include Solidity, Node.js, Ethereum and cryptocurrency
  • IBM, ConsenSys and Chainyard are top hirers for the position and SF, NY and ATL the top locations

U.S. Congressman Suggests “Do Blockchain” and “Wall Coins” to Fund Border Wall

Distributed Summary:

  • Ohio State Representative Warren Davidson throws out blockchain-based fundraising to construct wall between U.S. and Mexico border
  • Floats the cryptocurrency name “wall coin” in seemingly offhand remark
  • Demonstrates awareness, if not sophisticated understanding, of blockchain-based fundraising and incentivization

BlockFi, a Cryptocurrency Lending Firm With Credit Card Plans, Receives Funding From Fidelity and Mike Novogratz

Financial services behemoth Fidelity Investments and perennial crypto booster Mike Novogratz have provided funding for BlockFi, a cryptocurrency lending startup.