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Bitcoin News Roundup – 31 Jan. 2016

Recapping the week’s biggest Bitcoins stories from around the web.

Bank of England seeks to integrate the distributed ledger technology into the U.K.’s settlement system. As Pete Rizzo of Coin Desk writes, the central bank’s deputy governor for markets and banking, Minouche Shafik, has introduced a four-point blueprint that seeks to define the bank’s policy objectives and to determine what functions the payment system should have in order to support the distributed ledger technology. In addition, the four-point vision establishes who should be allowed to access the settlement system and what the role of the Bank of England should be in the process considering the greater impact of the distributed ledgers in the process of modernizing the country’s settlement system.

Blockchain Capital raises over $13 million in the second venture fund. As Samantha Hurst of Crowdfundinsider writes, the San Francisco-based leading venture capital firm has successfully closed its second fund by raising more than $13 million in committed capital, thereby surpassing its funding target of $10 million. The company’s initial fund comprised of 30 companies, whereas with the second fund it has added another 23 blockchain-related companies. Brad Stephens, Blockchain Capital co-founder, stated: “the company seeks to continue to support world-class entrepreneurs who are leveraging Blockchain technology to disrupt legacy industries and create new products and services around the globe.”

First blockchain real estate meetup to be held in Washington DC. Lana Smiley of Coin Telegraph reports that the Ubitquity LLC team organizes the first blockchain real estate meetup on January 31 in Washington DC, aiming to connect experts from the real estate industry with blockchain technology aficionados for the exchange of ideas and viable solutions. The connections are expected to be beneficial for all the parties involved. CEO of Ubitquity stated: “We see real estate as the next big thing for 2016.”

Deloitte releases paper to investigate the paradox of the blockchain technology. According to James Moreau of CryptoCoins News, Deloitte’s paper “Enigma. Paradox. Opportunity.” investigates the blockchain technology from the prism of understanding how the blockchain could affect a range of businesses or the government’s financial and operational processes. Without polarizing the discussion, Deloitte takes into consideration all views, those that are on board with the digital currency as well as those that consider the blockchain technology a threat to the national economies. Finally, the paper seems to introduce Deloitte as launching a new service segment to its customer base. It remains to be seen who will be interested in getting involved with blockchain technology.

Regulation

Germany and France seek to regulate the digital currency. As Joseph Young of NewsBtc reports, following France and Germany’s requests to strengthen control on the bitcoin, the European Commission considers urging control of bank accounts and digital currencies. France and Germany have repeatedly expressed their concerns over the anonymous nature of the bitcoin transactions and the potential involvement of the digital currencies in the financing of terrorist acts. If the European Commission approves the requests of France and Germany for bitcoin regulation, bitcoin startups are expected to be negatively affected as they will be requested to submit sensitive financial data for inspection.

Bank of America drafts 20 more cryptocurrency and blockchain-related patents. According to Arjun Kharpal & Julia Chatterley of CNBC, following the already 15 filed blockchain-related patents, the Bank of America (BOA), is allegedly in the process of drafting 20 more patents for submission to the U.S. Patents and Trademark Office (USPTO) later in February. The filling is widely regarded as an attempt to patent some of the cases currently in use by the BOA so that the Bank is getting ahead of the competition in the blockchain space and becomes one of the “few big financial institutions actively filing patents related to crypto technology.” Catherine Bessant, chief operations and technology officer at BOA, stated: “Most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space.”

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