Bermuda gathers team for Blockchain study

The government of Bermuda has founded a blockchain task group to promote cryptocurrency commerce in the British overseas territory
24 November 2017   2056

Announced during a press conference, the task force has been established to advance Bermuda's regulatory environment for tokens, "tokenised securities," cryptocurrencies and initial coin offerings (ICOs).

There are significant opportunities in the sphere of cryptocurrency, but that window is getting smaller and moving faster than ever before.

 

John Narroway

Chair of the Blockchain Business Development Working Group

The task force constitutes two groups: the Blockchain Legal and Regulatory Working Group, and the Blockchain Business Development Working Group – which will work to assist development of the technology.

The move aims to bring new business to the island, help boost GDP and open up more job opportunities.

Furthermore, the Bermuda Business Development Agency (BDA) has entered into a partnership with the government to expand the initiative.

It is also planned to design a regulatory framework for distributed ledger technologies (DLT) that would launch in early 2018. According to David Burt, Bermuda is considering a complementary regulatory framework covering the promotion and sale of utility tokens, aligned with the DLT framework.

PwC to Represent Crypto Analysis Tool

Halo aims to provide warranty services to cryptocurrency transactions, in particular, the solution helps to create independent evidence for private-public key pairs
20 June 2019   81

One of the world's largest consulting firms, PricewaterhouseCoopers (PwC), announced the launch of an updated audit solution that supports cryptocurrency assets. This is stated in the press release of the company.

A tool called Halo aims to provide warranty services to cryptocurrency transactions. In particular, the solution helps to create independent evidence for private-public key pairs, which is one of the elements necessary for establishing cryptocurrency ownership rights.

In addition, Halo can collect information about transactions and balances on the blockchain.

As noted in the statement, the decision can be used by companies for which PwC is not an auditor. The initiative should help them try new opportunities and solve problems related to the blockchain and cryptocurrencies.

Currently, PwC can use the updated tool to provide warranty services to customers operating Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, Ripple (XRP), as well as the ERC-20 OAX token.

PwC has been showing quite a strong interest in the cryptocurrency industry for several years now. So, in 2017, the company began accepting payments in Bitcoins, and last year began to develop new standards for the ecosystem of digital assets and stablecoats.