The European Commision (EC) has launched the EU Blockchain Observatory and Forum (BOF) to consolidate and grow blockchain initiatives within the European Union (EU).
With the support of the European Parliament, the BOF is a pilot project proposed by Member of the European Parliament Jakob von Weizsäcker, who is responsible for the recent report on virtual currencies.
U.K. startups working with distributed ledger technology are having problems accessing traditional banking services, according to a report issued last week by the U.K. Financial Conduct Authority.
The financial regulator, which runs a regulatory sandbox to allow new types of companies to test "innovative products, services and business models in a live market environment," reportedly witnessed startups in its fintech testing framework being blocked from opening accounts.
A group of German banks working with the R3 blockchain consortium has successfully replicated the sale of a €100,000 security on a distributed ledger platform.
Announced yesterday, Commerzbank, KfW Banking and MEAG all took part in the effort, designed to test an extension of R3's Corda platform. According to the companies involved, the trial served to show how a money market instrument, traded using distributed ledger technology (DLT), could take place with fewer intermediaries and in a shorter timeframe.