Louis Vuitton-Christian Dior Launching a Blockchain to Track Luxury Goods
Luxury brand conglomerate LVMH, owner of the iconic Louis Vuitton label, is preparing to launch a blockchain for proving the authenticity of high-priced goods. LVMH has enlisted a full-time blockchain team who have been in stealth mode for over a year, working closely with ethereum design studio ConsenSys and Microsoft Azure. “To begin with AURA will provide proof of authenticity of luxury items and trace their origins from raw materials to point of sale and beyond to used-goods markets. The next phase of the platform will explore protection of creative intellectual property, exclusive offers and events for each brands’ customers, as well as anti-ad fraud.”
Binance Tightens Compliance, Turning to IdentityMind for KYC
The world’s largest cryptocurrency exchange Binance is moving to boost compliance and data security through a new deal with Medici Ventures(Overstock) portfolio firm IdentityMind. IdentityMind has partnered with Binance to “improve existing data protection and compliance measures” for the exchange’s global operations. IdentityMind provides cryptocurrency exchanges a “real-time” platform to comply with know-your-customer (KYC) and anti-money laundering (AML) regulations worldwide to prevent fraud, according to the announcement. The startup helps cryptocurrency exchanges with client onboarding, transaction monitoring and case management solution.
Blockchain Exchange Secures $50 Million in Diamonds for ETF Launch
Blockchain-based trading platform CEDEX has now secured a supply of more than 6,000 diamonds ahead of its launch of a diamond exchange-traded fund (ETF). CEDEX said that the diamonds – worth over $50 million – will provide traders with a variety of investment options prior to the launch of the ETF. The supply comes from diamond holders registering their stock on the exchange for trading.
Yahoo! Japan Enters Crypto, Plans May 2019 Launch of Bitcoin Exchange
Taotao, a crypto exchange based in Japan, is planning to launch in May with the approval of Japanese authorities. Yahoo! Japan said that it will acquire a 40% stake in BitARG Exchange Tokyo, which has since reportedly been rebranded to Taotao. “Yahoo Japan Corp said it would buy a stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to join the digital money industry.”
Forbes: The Next Bitcoin Price Rally Could Be Sparked By A Surprising Source
It's been predicted that the spark that could cause the next bitcoin price rally could come from a surprising source: the world's central banks that might want to stock up on supplies of bitcoin as a form of digital gold. :The main use for bitcoin today is as digital gold," Garrick Hileman, head of research at Blockchain and research associate at the London School of Economics. "The question is though, who will be buying digital gold? If central banks start to accumulate bitcoin, that could be hugely impactful on bitcoin's price." Central banks, which set interest rates, manage the creation of new money, and make sure countries' economies continue to tick along without overheating, manage staggering amounts of wealth and moves by big central banks, such as the U.S. Federal Reserve or the European Central Bank, to build up reserves of bitcoin and cryptocurrencies could trigger an unprecedented wave of demand. Central banks currently have a fractious relationship with bitcoin and cryptocurrencies, with many of them distrustful of the nascent technology and worried that overly-keen investors could create unmanageable bubbles. Hileman added that recent regulatory developments have been positive for bitcoin and cryptocurrency market. "When regulation tightens, we've seen the bitcoin price respond positively more often than not. It's helped legitimize bitcoin ... regulator have, by and large, not sought to ban bitcoin and other cryptocurrencies. In the early years of bitcoin there was a fear that bitcoin would simply be outlawed." "Law enforcement typically doesn't auction off seized cocaine," Hileman added. "There's a growing acknowledgment that bitcoin's going to be here."
German Gov’t Says Blockchain Can ‘Support Europe’s Unity’
Germany's Federal Office for Migration and Refugees (BAFM) has found that blockchain has far-reaching potential to improve asylum procedures. Following a successfully completed proof-of-concept (PoC). The white paper outlines that blockchain can enable the creation of tamper resistant digital identities for refugees that arrive without ID documents, based on biometric data collected at the moment of their initial registration in the receiving country. This would then support further aspects of the asylum procedure and ensure the consistent and secure identification of each asylum applicant across multiple organizations. “Blockchain could be the ‘digital enabler’ of European federalism in the asylum context. A European platform for the decentralised management of asylum procedures would enable the transparent storage of a person’s place of initial registration. Digital identities are nationally agnostic and could thus support Europe’s unity at a fundamental level.”