EU Launches Blockchain Observatory and Forum

The EU Blockchain Observatory and Forum will be gathering information, monitoring and analyzing trends, addressing challenges and exploring blockchains' socioeconomic potential 
02 February 2018   700

The European Commission announced on February 1 the launch of the EU Blockchain Observatory and Forum with the support of the European Parliament to help the EU to stay at the forefront of blockchain technology. 

According to the announcement, the EU Blockchain Observatory and Forum will play an active role in helping Europe to seize new opportunities offered by blockchain, build expertise and show leadership in the field. It will be gathering information, monitoring and analyzing trends, addressing challenges and exploring blockchains' socioeconomic potential. 

It will also enable cross-border cooperation on practical use cases, bringing Europe's best experts together and promoting an open forum for blockchain technologists, innovators, citizens, industry stakeholders, public authorities, regulators, and supervisors, to discuss and develop new ideas in order to learn, engage and contribute in an open way, the Commission said.

I see blockchain as a game changer and I want Europe to be at the forefront of its development. We need to establish the right enabling environment - a Digital Single Market for blockchain so that all citizens can benefit, instead of a patchwork of initiatives. The EU Blockchain Observatory and Forum is an important step in that direction.


Mariya Gabriel

Commissioner for the Digital Economy and Society

The European Commission has partnered with ConsenSys, an ethereum startup, to support the Observatory's outreach in Europe following a call for tenders launched last year. It will work in close cooperation with Commission services to run the EU Observatory and Forum.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   82

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.