Market Analysis Report

Microsoft Partners With Bank of America on Blockchain Project

Microsoft and Bank of America Merrill Lynch have announced a partnership with the intent of using blockchain to transform the trade finance sector. The announcement was made at the annual SWIFT-organised Sibos conference. Chief financial officer and executive vice president at Microsoft, Amy Hood, said:

"By working with Bank of America Merrill Lynch on cloud-based blockchain technology, we aim to increase efficiency and reduce risk in our own treasury operations."

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ASX Sets Date for Decision on Blockchain Transition

The Australian Securities Exchange (ASX) has announced their plans to decide on whether it will migrate to a blockchain-based settlement system by the end of 2017. The comments stem from a new address to shareholders from ASX chairman Rick Holliday-Smith:

"We have successfully completed the distributed ledger prototyping stage and have moved on to building an industrial-strength solution that could be used to replace CHESS – our existing cash equities clearing, settlement and sub-registry system."

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United Nations Will Adopt Emercoin For Its Car Fleet Management Project

United Nations Development Programme, a department of the United Nations, announced that it will use Emercoin in the vehicles fleet management. The UNDP stated that the testing phase is already underway. The release stated:

“In Moldova, we are testing to find out if Blockchain can provide a more effective way of managing the United Nations car fleet together with EmerCoin and DeePlace”

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