Bank of England to trial a new distributed ledger system

Bank of England performs a trial run of their new proof-of concept system for real-time gross settlement
28 March 2018   352

Future-proofing the operations has been a long hard quest for the banking institutions around the globe, and eve more so since the emergence of the cryptocurrencies. And now the next step forward has been made by Bank of England. As part of their proof-of-concept network for real-time gross settlement they are trialing the use of distributed ledger technology (DLT).

Back in 2017 Bank of England has first revealed that they were working on using DLT for near-instant transaction system. Though, at that tie they were adamant, that such a technology can't be the sole driving force for such application. Now, they are backtracking a bit, stating that while nowadays DLT is not yet sufficiently mature, they will endeavor to develop it for the time when it gains a more widespread adoption.

The trial run is to see how distributed ledger-based system performs for the real-time gross settlement service, and if it performs well enough to be used on the permanent basis.

In broader sense, such a move can represent a more amiable stance toward blockchain as a whole for the UK central bank in the near future.

SoftBank & Baidu to Invest in Atlas Protocol

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance
21 August 2018   130

The Atlas Protocol marketing module (ATP) has completed a round of attracting initial funding, led by SoftBank China Venture Capital (SBCVC), having collected several million dollars during it.

In a multimillion-dollar round, the exact amount of which was not disclosed, Baidu Ventures (BV), Danhua Capital and Fenbushi Digital also took part.

Atlas Protocol was created by Nebulas Labs and xGoogler Blockchain Alliance (xGBA). The "first developer" of Google Adwords, Jeremy Zhao and Columbia University Professor Ronggui Gu will serve as project advisors on technical issues.

Atlas Protocol plans to create a blockchain ecosystem and "to form a new paradigm of interactive marketing." According to the press release, ATP allows you to rank "calculated values ​​on the block and transfer value using tokens" using the ATP Smartdrop service application.

xGoogler Blockchain Alliance was formed in April this year as a community of former Google employees interested in blockchain technology. Its founders were the developers of projects Nebulas, Loopring and Gifto.