Interest in blockchain ‘at an all time high,’ says Bloomberg, and the digitization process continues.

Developments in Blockchain

Blockchain was everywhere in the news yesterday. One important announcement came from Lattice80, the world’s largest fintech. They have partnered with Germany-based IOTA foundation to open a new innovation lab in Singapore. Lattice80 strongly supports blockchain for IoT development and the IOTA has valuable expertise in DLT. The innovation hub will focus on Internet of Things (IoT) and distributed ledger technology (DLT) and their potential to benefit lives in developed and emerging markets. As IoT begins to connect our devices and everyday lives, personal security and data privacy will become more important. That is why DLT and IoT are a great match.

In more blockchain news, a blockchain talent agency called Moneo has opened this week. Moneo.io allows organizations worldwide to hire freelance blockchain coding specialists. Interestingly, all payments on the platform will be with bitcoin. It makes sense of blockchain enthusiasts but will prompt companies worldwide to acquire digital wallets and purchase bitcoin in order to access Moneo’s blockchain expertise.

In addition, an investment marketplace specifically for blockchain called BnkToTheFuture is set to open in the second quarter of next year, Bloomberg reported. The platform will allow investors to trade equity stakes in companies involved with blockchain. BnkToTheFuture will – of course - use a blockchain ledger to record investments. Next year, BnkToTheFuture will also launch its own token to allow people to pay for deal analysis and customer due diligence checks. A blockchain specific marketplace shows how high interest in blockchain is. In recent weeks, there has been a proliferation in blockchain developments: we reported on American Express, KPMG and ING. Distributed ledger technology will have much to offer in 2018.

Continued digitization

The digitization process is still underway. It can be expensive, time consuming and a step into the unknown as companies of all sizes embrace change. Recognizing this, Deloitte is running a survey for SMEs to contribute to its report into digitization. The report will assess digital transformation of SMEs regarding implementation of the 2017 eIDAS regulation in the European Union; mainly relevant for eID and eSignature processes.

Also in recognition of the challenges of digitization, HollandFintech has this week launched its RegTech Focus. Regtech can help ease increasing compliance expectations with digital efficiency, compliance solutions and governance technology. Due to increasing complexity and amounts of regulation in the EU this year and into 2018, RegTech has undergone a period of extensive growth. Over next two weeks we will present news and research to boost knowledge in this important area.