A branch of the Raiffeisen Bank International in Russia is said to have issued an electronic mortgage via local blockchain Masterchain according to a news report on September 24.
In the document where all the information about the parties in the transaction is contained, there’s also the type of property that was purchased and also the credit loan and the duration is published in a decentralized depositary system. This system is based on a Russian network named Masterchain that can transfer valuable data via blockchain. This project has been developing since 2016 by a group of local banks led by the Central Bank of Russia.
The director of the IT department for Raiffeisen said that the document that is verified with an electronic signature is sent to the Russian state agency that is in charge of collecting data about real estate. After this process is finished, the mortgage token is moved to the file storage which is basically the Raiffeisen Bank. This is the first kind of e-mortgage in Russia as the director notes.
He also believes that if the country is connected to the platform It might just accelerate the process of getting all the needed data on mortgage and making a deal without third parties. Further negotiations are being pushed so other banks can join in as well. The next step for this bank would be to use blockchain to purchase contracts and similar real estate transactions. There are two more Russian banks according to Kommersant that want to be involved in this process and are planning on issuing e-mortgages by the end of 2018.
The blockchain technology has already been tested for real estate business in the Netherlands. This is why other major Russian banks have expressed their interest in blockchain and for this reason, the Central Bank of Russia has already held a successful ICO test in order to create a draft of a possible crypto regulation.
The City Of Graz Opens A Cancer Research Laboratory That Will Use Smart Contracts On The Blockchain
“Blockchain is definitely one of the new important technologies. In addition to Artificial Intelligence and Speech Recognition, it is one of the big issues we want to highlight in the coming period of the EU Presidency.”The Austrian government will provide Lancor with grants over a 5-year period for research equipment, clinical trials, facilities and more. Graz is not the only city in Austria with high blockchain interest. Vienna, the capital, is trying to stimulate blockchain innovation by opening a cryptocurrency bank last year. The country, in general, is open to negotiations regarding crypto legislation. The government also issued $1.35 billion in bonds on the Ethereum blockchain in September 2018.
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UK Research Shows That Private Blockchains And New EU Privacy Rules Might Go Well Together
“There is a risk that this legal uncertainty will have a chilling effect on innovation, at least in the EU and potentially more broadly. For example, if all nodes and miners of a platform were to be deemed joint controllers, they would have joint and several liability, with potential penalties under the GDPR.”However, blockchain operators could be treated like processors the same way the companies behind cloud technologies control the users’ data. Blockchain networks could store personal data externally to meet the rules of the privacy laws or allow nodes to delete the private key that has encrypted information. GDPR rules are really hard to comply with especially for crypto mining businesses which are why the researches urge the European Data Protection Board to create a guide of the protection law that will be clearer.
Maduro: You Can Trade Petro To Other Crypto Assets Only If You Have Bought It In 2018
“Anyone who buys the Petro until Dec 31 will be able to convert it into any other digital currency.”In the past 12 months, Venezuela suffered extreme hyperinflation, therefore, the national currency of the country, the Bolivar, is basically worthless. Many citizens in the country are incapable of buying necessary things such as food and medicine since the Bolivar lost its value. According to a report from BBC:
“A 2.4kg chicken has been costing 14,600,000 bolivars (equivalent to $2.22, or £1.74) in the capital, Caracas. Last Thursday, a toilet roll cost 2,600,000 bolivars. And a kilogram of meat cost 9,500,000 bolivars.’’In order to change this terrible economic situation, the president Maduro created Petro that is supposed to represent the oil reserves of the country and become the new national currency. However, there are many issues with the cryptocurrency and some experts deny calling it a cryptocurrency. According to the official whitepaper, Venezuela guarantees that Petro will be accepted as a method of payment of national fees, taxes, and public services. The government also claimed that they raised more than $1 billion from the token sale of Petro. A few months later that number changed to $5 billion in the token sale. Experts believe that the government cannot have control over cryptocurrencies such as Petro and that is exactly why Petro is doomed to fail.
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