Yahoo Finance Now Offers Bitcoin, Ethereum And Litecoin Trading

Bitcoin (BTC), Ethereum (ETC), and Litecoin (LTC) can now be traded in Yahoo Finance has the internet company has integrated digital assets exchange in its platform.

Yahoo Finance platform also provides statistics for other digital currencies like Bitcoin cash (BCH), Ethereum Classic and EOS but do not have buy and sell options in its platform.

This development has led some in the cryptocurrency community to say that it is an important step forward for crypto adoption.

In March of this year the Japanese arm of internet giant Yahoo stated that it will open a cryptocurrency exchange in April of next year.

Yahoo reveals that it will be acquiring 40% stake of BitARG Exchange Tokyo in April and have dispatch executives to lay the foundations for the exchange that will be launched next year.

US Patent and Trademark Office Approves Square Crypto Patent

The payment processing company, Square is said to have acquired the approval of the U.S. Patent and Trademark Office (USPTO) on its patent application for a new payment network that will enable them to use both fiat and cryptocurrencies.

The patent describes a system in which cryptocurrency payments would be processed at the same speed as traditional transactions such as credit card payments.

This will be done through a permissioned blockchain that records transaction in real time.

Square is well known for helping millions of merchants accept card payments via mobile or countertop readers and have increasingly providing cryptocurrency services to its users.

It has also received a New York BitLicense in Mid-June, joining the relatively few companies that have acquired the license.

Its founder Jack Dorsey is a noted fan of virtual currencies which is also involved in a seed financing round for Lightning Labs, a company who intends to bring greater efficiency to Bitcoin Transactions.

California State To Establish Blockchain Working Group

Legislators of the state of California have recently draft up a bill that calls for the establishment of a working group on blockchain technology.

The bill dubbed as California’s AB 2658 has already passed both houses of the state legislature and will now hear to the governor for approval.

The bill calls for the Government Operations Agency to form a blockchain working group on or before July 1, 2019.

The group is required to consist of participants from both technology and non-technology industries.

Appointees will be coming from background of law, as well as representatives of privacy and consumers organizations.

The group is said to include the State Chief Information Officer, the Director of Finance or their representatives, a member of the Senate and one member of the assembly.

The working group is tasked to submit to the legislature no later than July 1, 2020 a study on the potential uses, risks, and benefits of the use of blockchain technology by state governments and California-based businesses.

Australia To Develop National Blockchain Platform

The Commonwealth Scientific and Industrial Research Organization (CSIRO) of Australia has announced the formation of a data consortium in partnership with IBM and law firm Hebert Smith Freehills in its effort to create a large-scale, cross-industry smart contract platform for Australian businesses.

The platform will be called the Australian National Blockchain (ANB) and will enable businesses around the country to make use of legally-enforceable smart contracts and exchange data, as well as confirm the status and authenticity of legal contracts.

Using this network, Australian businesses will gain the ability to use smart contracts to automatically trigger business events and processes using preset conditions.

The said initiative is an extension of CSIRO extensive research into potential applications of blockchain technology for Australian Businesses.

Union Bank Of The Philippines Starts Blockchain-Powered Internal Communications

One of the largest bank of the Philippines and an early blockchain adapter, UnionBank of the Philippines (UBP), has revealed a blockchain-powered internal communications system that is said to be more efficient and cost effective way of delivery of information.

The technology will allow employees form all branches across the Philippines to access internal communications and publish General Circulars (GC) in a more secure, safe and immutable platform.

Ruby Gisela Perez, head of UBPs Strategic Business Process Optimization, states that by adopting blockchain solutions to the bank’s internal processes provide provenance and assurance of untampered information on the latest published GC version, it will provide added security and transparency.

Dennis Omila, UnionBank executive vice president and chief information officer, states that their blockchain-powered communication system is a proof case that blockchain benefits are not limited to cryptocurrencies.

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