Bermuda to Improve Land Registry via Blockchain

The Bermuda Government is planning to transfer its property deed system to blockchain
26 January 2018   930

Bermuda Premier David Burt said at the World Economic Forum in Davos that the country is aiming to make the government more efficient switching its property deed system to blockchain.

Bermuda has an old school, deeds-based property system. What we are going to do is transfer our registry to the blockchain. Clearly, it needs to be transparent, so people know what’s there and secure, and that way we know who owns what at any point in time.

 

David Burt

The Premier of Bermuda

Burt also talked about the country’s “progressive” ambitions in the blockchain space. He said Bermuda is known for high-standard regulation, anti-money laundering, know-your-customer (KYC), and compliance.

The idea to migrate its property deeds system to the blockchain has been aired in the past month in Bermuda. Last month, Stan Stalnaker, founding director of Bermudian-headquartered Hub Culture, said digital assets such as property title deeds, marriage certificates, vehicle registration documents, and ownership contracts will end up on blockchain.

In November 2017 we have reported that the government of Bermuda founded a blockchain task group to promote cryptocurrency commerce in the British overseas territory. The task force is part of the government’s initiative to advance the island’s regulatory environment as destination for cryptocurrencies and initial coin offerings (ICO).

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.