Date: May 24, 2017 (Wednesday)
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9 May 2017 CoinDesk
The United Nations is a Swiss army knife of humanitarian aid.
When catastrophe strikes, dozens of agencies within the organization, founded in the aftermath of World War II, lay in wait in offices around the world, each with their own specialized role to alleviate suffering and establish peace.
But with billions of dollars at their disposal and organizational mandates that often overlap, keeping track of who needs what, and getting it to them quickly, is just part of the challenge.
Crucial to ensuring continued support, the agencies must also be able to prove that the taxpayer money donated by its 193 member nations actually accomplished its intended goals – a historically difficult balancing act.
One man, who has spent the last 25 years helping conduct this symphony of services, thinks that much of the difficulty can be alleviated by moving both the dispersal of aid and the internal operations of the UN itself to a blockchain. Read more.
UNODC launches training to tackle cryptocurrency-enabled Organized Crime
The original article was posted on the site of United Nations On Drugs and Crime.
8 May 2017 – Cryptocurrencies, such as Bitcoin and Ethereum, are being increasingly used to move criminal proceeds. In response to this phenomenon, UNODC has developed a world-leading Cryptocurrency Investigation Train-the-Trainers course and delivered, in recent weeks, the first courses on cryptocurrency investigation. Continue reading “UNODC launches training to tackle cryptocurrency-enabled Organized Crime”
2 May 2017
The World Bank has revealed plans to explore how blockchain technology could help boost Kenya’s financial prospects.
According to a new report, the World Bank is seeking to provide follow-up research to support a mobile phone-based bond issuance dubbed ‘M-Akiba’ through which the African country’s government has so far raised $1.1m.
Kenya’s government plans to sell roughly $47m in similar products, and is reportedly considering how blockchain could improve the issuance process. Read more.
24 APR 2017
Central banks could allow access to accounts around the clock if they used blockchains or cryptocurrencies, a senior Bank of Japan official speculated last week.
Speaking during a finance forum on 21st April, deputy governor Hiroshi Nakaso touched on the subject of so-called central bank digital currencies, or CBDCs, and their potential impact on how people interact with their accounts at a given time.
One proposal is to offer central bank accounts to retail customers through a CBDC (something that officials at the Bank of England have highlighted in the past). In his speech, Nakaso brought up this idea, suggesting that, depending on the degree of adoption, such an arrangement could give account holders continuous access to funds. Read more.
The Economic Commission for Latin America and the Caribbean (ECLAC) has stated Blockchain could help improve costs in troubled banking sectors.
In a report released at the end of April, the ECLAC, which is a regional commission of the United Nations, said the technology held particular promise in reducing so-called “de-risking” practices among local banks.
De-risking, it says, is the phenomenon witnessed across the developing world in which banks shy away from deals which would cost too much in regulatory maneuvering to fulfill.
“…This technology appears to have the potential to address the problem of de-risking on two fronts,” it said. Read more.