Canada to Launch its First Blockchain ETF on Stock Exchange

Ontario Securities Commission approved Canada’s first blockchain Exchange Traded Fund provided by Harvest Portfolios Group
02 February 2018   2608

Harvest Portfolios Group Inc., founded in 2009 with the vision of providing Canadian investors with access to investment products that generate steady long term income, has reported on January 1 of 2018 that Ontario Securities Commission had approved its exchange traded fund managed with the blockchain technology.

Blockchain Technologies ETF (HBLK) will be Canada's first blockchain exchange traded fund. As it is reported by Harvest Portfolios Group, this ETF is designed to provide Canadian investors access to the developing blockchain technology sector. Moreover, HBLK will be listed on the Toronto Stock Exchange next week.

HBLK seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Harvest Blockchain Technologies Index. HBLK invests in equity securities of issuers exposed, directly or indirectly, to the development and implementation of blockchain and distributed ledger technologies.

Harvest Portfolios Group Statement

What is more, Harvest stated that it will act as promoter, trustee, manager and portfolio manager of HBLK and will be responsible for the administration of the Blockchain Technologies ETF.

Bank of China Filed a Patent to Scale Blockchain Systems

Bank of China has filed a patent application for a process able to scale blockchain systems  
23 February 2018   108

According to a document released by China's State Intellectual Property Office (SIPO) on February 23, the application was invented by Zhao Shuxiang and first submitted on September 28 last year.

The application states that instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a "data block."

For example, when the system receives a request to compress transactions from block 1 to 1,000, it causes a new data block to be formed and temporarily hosted on a different storage system. Then, the system will run the packed data through a hash function with a hash value. After that, the compression system will attach labels in order to identify blocks on the blockchain.

With the use of the described method, the patent claims a reduction in the amount of the data stored in new blocks as transactions mount in a blockchain while ensuring that data from all previous transactions will still be tamper-proof and traceable.

At the moment, the patent in the review process.