“Partnering with Tech Mahindra for their industry and technology know how, and Pega for their adaptive and robust DPA solutions, Samsung Nexledger™ Universal has been able to address some as yet unresolved challenges inherent in operating in the global marketplace, especially around warranty, authenticity, recovery and customer satisfaction. Together, we are demonstrating that trusted, immutable, distributed and decentralized blockchain and digital process automation are a dynamic, powerful combination for unearthing hidden value in business value chains,” Ted Kim, vice president of blockchain team at Samsung SDS America, said in a press release.
In other news, Denis Beau, a deputy governor of Banque De France, wants a global regulatory framework for cryptocurrencies.
“There is indeed a need for overall consistency to prevent regulatory arbitrage under the ‘same activities, same risks, same rules’ principle,” he said at an Official Monetary and Financial Institutions Forum (OMFIF) meeting in London this week, according to CoinDesk.
He also addressed the potential launch of Facebook’s own cryptocurrency, Libra, saying that the stablecoin “may achieve significant market power, thus posing risks to security and financial stability.”
EY has announced the launch of EY OpsChain Public Finance Manager (PFM), a blockchain-enabled solution that matches government spending programs with real world outcomes.
The solution has been piloted around the world, including Toronto, with the city using it as part of its ongoing financial management transformation efforts.
“Modern public financial management requires focusing on the things that matter most – transparency, accountability and robust evidence for decision-making – all factors that can be enhanced by blockchain technology. EY OpsChain PFM is an exciting new tool that helps public finance leaders to assess and improve their finance management systems. It has been very exciting to work with city leaders who continue to push boundaries and embrace new technologies,” Mark MacDonald, EY global public finance management leader, said in a press release.
“With a commitment to championing the economic, social and environmental vitality of the city of Toronto, our officials strive to implement technologies that best help us meet our residents’ evolving needs. Testing new technologies is part of our ongoing approach to financial management transformation taking place at the city,” added Heather Taylor, City of Toronto chief financial officer.
And bitcoin technology startup Bitstop revealed that it has installed Miami International Airport’s first Bitcoin ATM. Located in concourse G next to gate 16, the machine allows users to buy or sell bitcoin for cash while traveling.
“We’re excited to be working with Miami International Airport on this historic deal,” Doug Carrillo, Bitstop co-founder and chief strategy officer, said in a press release. “More and more people prefer to travel with Bitcoin instead of cash for convenience and security. Miami International Airport is a perfect place for our customers to conveniently exchange their dollars for Bitcoin and vice versa when traveling domestically or abroad.”