Forty big banks test blockchain-based bond trading system


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Forty of the world’s biggest banks, including HSBC and Citi, have tested a system for trading fixed income using the technology that underpins bitcoin, fintech company R3 CEV said on March 3.

The banks are part of a consortium of 42 major lenders, brought together last year by New York-based R3 CEV to work on ways blockchain technology could be used in financial markets – the first time so many have collaborated on using such systems.

A blockchain is a huge, decentralised ledger of transactions that can be used to secure and validate any exchange of data, including real assets, such as commodities or currencies.

Bitcoin’s blockchain was the first, but others have since been built that offer additional features and can be programmed. That means the technology can enable so-called smart contracts: agreements that are automatically executed when pre-determined conditions are met.

http://www.thestar.com.my/tech/tech-news/2016/03/03/forty-big-banks-test-blockchain-based-bond-trading-system/

Jeremy Corbyn calls for economic sanctions against banks and countries funding Isis


The UK should be more proactive about imposing sanctions onbanks and countries suspected of funding or supporting the militant group Isis, the leader of the Labour party has said.

Jeremy Corbyn told David Cameron to push for an economic crackdown with the rest of the European Union, claiming the terror group was being provided with “vital infrastructure”.

“Surely a crucial way to help defeat Isil is to cut off its funding, its supply of arms, and its trade,” he said at Prime Minister’s Questions in the House of Commons on Wednesday.

http://www.independent.co.uk/news/uk/politics/jeremy-corbyn-calls-for-sanctions-against-banks-and-countries-funding-isis-a6739081.html#oo

JEREMY CORBYN CALLS FOR ECONOMIC SANCTIONS AGAINST BANKS AND COUNTRIES FUNDING ISIS


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Jeremy Corbyn told David Cameron to push for an economic crackdown with the rest of the European Union, claiming the terror group was being provided with “vital infrastructure”.

“Surely a crucial way to help defeat Isil is to cut off its funding, its supply of arms, and its trade,” he said at Prime Minister’s Questions in the House of Commons on Wednesday.

Jeremy Corbyn calls for economic sanctions against banks and countries funding Isis