Eric Cohen joined the Auditchain team

It will become the head of XBRL architecture for the New York-based firm
28 November 2017   902

Auditchain attracted one of the co-founders of the universally used business reporting standard to their team. Blockchain startup Auditorain is developing an accounting environment centered around blockchain-based tokens. AUDT will be used as a service payment service.

Leveraging [blockchain]/DLT technologies to provide a fantastic new foundation, enabled by layers of abstraction, can enable new payment channels, and securely hook in resources of all sorts.


Eric Cohen

Cohen is the co-founder of XBRL. He also working for professional services firm PwC. The Cohen's involvement traces back to an event at Rutgers University that focused on continuous auditing. Cohen has also been involved in the development of standards around the world, including the ongoing effort spearheaded by the International Organization for Standardization (ISO).

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   69

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.