Značka: London

British investment managers call for the blockchain-traded funds' approval

The Investment Association, a trade body representing British investment managers, is speeding up the local government and financial regulators to approve blockchain-traded funds with digital tokens substituting traditional shares. As the Financial Times reported on Thursday, the trade body is pushing the government to establish a new class of funds employing blockchain technology and create a new task force to examine how distributed ledger technology could accelerate the creation of new products and services.The reasons behind such a push, according to the Investment Association, are the possible significant cost savings for end investors and the simplification of the existing procedures of buying and selling mutual funds. Investment Association chief executive Chris Cummings urged to boost the competitiveness of the national financial services: “Greater innovation will boost the overall competitiveness of the UK funds industry and improve the cost, efficiency and quality of the investment experience.”According to FT, blockchain-traded funds could become available by the end of the second quarter of 2023 if the Financial Conduct Authority (FCA) would give its regulatory approval. As the newspaper adds, a financial technology group FundAdminChain is currently collaborating with the London Stock Exchange and four global asset managers to develop live tokenized funds for the British market.Related: Majority of British crypto owners revealed to be hodlersBrian McNulty, CEO at FundAdminChain, revealed that asset managers have realized the potential to generate market-beating returns via tokenization of funds:“Tokenised funds can deliver more transparency, instant settlement, improvements in data and analytics which will contribute to a more efficient system for investors but we need regulatory support to ensure that the UK remains competitive with other jurisdictions.”The Investment Association also lobbies the FCA to regard the possibility of allowing traditional mutual funds to own cryptocurrencies and other digital assets. But should the FCA get interested in this proposition, it would still require a full consultation to push it through the regulation process.The first United States-based on-chain mutual fund was launched in April 2021 by Franklin Templeton to process transactions and record share ownership.

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Floki Inu resumes controversial ad blitz in London

Dogecoin rival Floki Inu has begun what it calls an “aggressive” marketing campaign in London, plastering advertisements around the city’s train stations and on its famous red buses.Floki Inu announced the new campaign in an April 23 blog noting that “the people’s cryptocurrency” will start advertising on the side of 100 buses and on 203 posters in the city’s underground train stations starting from Monday April 25.#FLOKI’s new and aggressive London campaign will start tomorrow Monday, April 25.$FLOKI to be featured on:- 100 buses across the streets of London.- 203 strategic placements across London Underground.These ads will be seen tens of millions of times!Get ready for impact! pic.twitter.com/hBanvs8eu2— FLOKI (@RealFlokiInu) April 24, 2022The new campaign for the memecoin comes after a similar marketing blitz late in 2021 which caused a stir with London assembly member Sian Berry, who sought to ban all cryptocurrency advertisements on the city’s rail and bus networks.Floki Inu’s last campaign featured signs which read “Missed Doge? Get Floki.” In November, Berry posted a tweet likening cryptocurrencies to gambling, adding that public services should not advertise “risky” schemes.Like gambling ads, which we have finally got the Mayor to remove, there is no way our public services should be used to advertise these unregulated, risky schemes to Londoners. I asked for a ban in July and I am still pushing.https://t.co/i7EBxfbGrV— Sian Berry (@sianberry) November 14, 2021

The campaign received so much negative attention that the UK’s Advertising and Standards Authority (ASA) intervened, banning the ad in a ruling on March 2 as it “exploited consumers’ fears of missing out, trivialized investment in cryptocurrency and took advantage of consumers’ inexperience.”Related: UK politicians say cryptocurrency is ‘not an investment’However, Sabre, the pseudonymous moniker for Floki Inu’s Director of Marketing emphasized in the announcement that the team has no intentions of standing down despite the regulatory push back:“In a sense this second London campaign is an even bigger win for Floki and the crypto industry as a whole than the first, as our team has fought for the right to advertise our groundbreaking project to the public.””Some wanted us banned here entirely, and the anti-crypto agenda continues to come thick and fast through smear campaigns and misinformation. The Floki Team will always stand our ground no matter what,” they added.  Earlier this year in January, the ASA continued with a raft of bans on crypto firms advertising in the UK. The regulator halted two advertisements from Crypto.com which promoted the ease of purchasing Bitcoin and earning yield rewards as they did not state the risk of the investment.In mid-December 2021, six crypto firms were hit with ad bans by the ASA for “taking advantage of consumers’ inexperience” and also failing to demonstrate the risk of crypto investing.

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UK air traffic tech firm uses Hedera Hashgraph to track drones

Hedera’s public ledger consensus service was recently used to “gather, store, and order” millions of data points in a drone data trial sponsored by the United Kingdom government.As per an announcement, Hedera worked with Neuron Innovations, a London-based aviation technology company, to trial safe sharing of long-distance airspace by commercial, military, and government drones.Neuron has implemented an “aviation surveillance as a service” system to allow drones to seamlessly join existing air traffic. The aviation tech firm then utilized Hedera Network’s Hedera Consensus Service to “gather, store, and order” drone data. Neuron CEO Niall Greenwood said:”We have made unmanned, long distance drone travel possible using safety-critical aviation infrastructure. Each flight creates millions of data points, which no other public ledger has been fast enough to log and correctly order.” The multi-drone trial was held in Port Montrose, Scotland, and Cranfield University in Bedfordshire in April and October of 2021. The Neuron sensors recorded data points concerning the drones’ locations and direction while the Hedera Consensus Service logged and timestamped the data collected from each drone on its decentralized public ledger.Related: Hedera and Korea’s Shinhan Bank partner on KRW stablecoin pilotThe experiment, backed by the U.K. Department for Business, Energy and Industrial Strategy, was one of a number of drone-related tests. The main finding from the study was that it was possible to follow unmanned aircraft after they had passed out of view.Hedera Hashgraph is a high-security, public distributed ledger technology network based on a proof-of-stake consensus algorithm. The proof-of-concept, which demonstrates that a certain procedure or concept is feasible, utilizes the Hedera Consensus Service and the Hedera Token Service.Hedera Hashgraph has established a number of collaborations to apply blockchain technology in real-world applications across several sectors. In November 2021, Cointelegraph reported that the Hedera Council partnered with ServiceNow, a cloud-based digital workflow platform, to integrate the Now Platform and create a new degree of trust and responsibility in digital transactions.

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