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Finsight Recap: This week in Crypto, Blockchain & Fintech

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Major Trump Fundraiser Suggests Use of Blockchain Technology for Voting

This week saw former US President Donald Trump taking a swipe at cryptocurrency, bitcoin calling it a “scam” that takes “the edge off of the dollar.” However, in a sharp rebuttal, the millionaire former chief executive of U.S. online retailer Overstock, Patrick Byrne has said that the country’s voting system should rely on blockchain or paper ballots only and further went on to call bitcoin the future of money.

Partnership for Digitisation of Football through Blockchain

Football federation UEFA has announced a five-year global partnership with blockchain business AntChain to jointly explore how blockchain technology can be used to further the digital transformation of the football industry and improve the experiences of fans around the world. AntChain will also become the official global blockchain partner of UEFA EURO 2020.

Global Content Creators Embrace latest Blockchain Technology for Industry

The world’s first content marketplace that aims to build a collaborative content ecosystem with the core purpose of seed funding, incubating, and curating filmmakers, YouTubers and content producers around the World will be launched this June. $MCONTENT is expected to revolutionize the global content landscape using the power of blockchain.

Cryptocurrency Ethereum Launched into Space

Blockchain network agency SpaceChain has successfully sent a blockchain-enabled payload into space aboard a SpaceX Falcon 9 rocket launched from NASA‘s Kennedy Space Center. With the first demonstration of the Ethereum cryptocurrency technology integration when the payload is installed at its destination, SpaceChain will allow customers to use the payload for enterprise business transactions and fintech applications once tested and activated.

Over $50 million in losses from crypto scams to US Investors in the first quarter of 2021

Consumers in the US reported $52.6 million in losses from crypto scams to the Federal Trade Commission (FTC) in the first quarter of this year. The report also showed that scams related to cryptocurrencies or other digital assets in the US were also heavily targeted toward younger people.

America’s Largest-Known Cryptocurrency Real Estate Deal Closed in Miami

Miami Beach’s Most Expensive Penthouse Just Sold in America’s Largest-Known Cryptocurrency Real Estate Deal. The 9th floor Lower Penthouse at Arte by Antonio Citterio was bought – all cash paid for entirely in cryptocurrency, making it the most expensive known residential crypto real estate transaction in the U.S. to date.

Filipino Fintech Receives a Digital License

UNObank has become the first Filipino fintech to receive a license outright to operate a digital bank. This is after Singapore headquartered fintech DigibankASIA Pte. Ltd., one of the primary incorporators of UNObank, received approval from the Bangko Sentral ng Pilipinas (BSP) to operate a digital bank in the Philippines which will be entirely regulated under the Digital Banking License framework in the Philippines.

eCommerce Biometrics Launched in UAE

Abu Dhabi Islamic Bank in collaboration with Visa have launched the first biometric authentication solution for online transactions in the United Arab Emirates. The new security solution will tap into Visa’s Consumer Authentication Service to level up user experience and data security.

Hong Kong Invests more into Local Fintech Ecosystem

A new Fintech Cross-Agency Co-ordination Group is to be established by the Hong Kong Monetary Authority (HKMA) to formulate supportive policies for the local fintech ecosystem. The formation of the group is one of a range of initiatives adopted by the central bank as part of its Fintech 2025 strategy plan.

Tiger Global Invests Into Construction Industry Fintech Platform

Tiger Global Management has led a $30Million Series B funding into Briq, a fintech for the construction industry. The financing is among the largest Series B fundraisers by a construction software startup, and brings Briq’s total raised to $43 million since its January 2018 inception. 

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