Falcon to add Ethereum, Litecoin and Bitcoin Cash

Falcon bank to add Ethereum, Litecoin and Bitcoin Cash to its current Bitcoin blockchain asset management services
16 August 2017   829

Falcon Private Bank, a Swiss private banking boutique with 50 years of expertise in wealth management, will add Ethereum, Litecoin and Bitcoin Cash to its blockchain asset management services on August 22nd, 2017.

Thus, last month, Falcon announced that it is the first Swiss private bank to provide blockchain asset management solutions for its clients, enabling them to exchange and hold Bitcoins via Falcon by using their cash holdings.

We are pleased to add Ethereum, Litecoin and Bitcoin Cash to our services just a month after introducing blockchain asset  management solutions with Bitcoin. The first reactions to our Bitcoin services have been very encouraging and we are convinced that by adding three new blockchain assets we will fulfil our clients’ future needs.

Arthur Vayloyan
Global Head Products & Services, Falcon Private Bank

With the addition of Litecoin and Bitcoin Cash, Falcon’s clients will enjoy even broader portfolio diversification possibilities as well as the same easy access and convenient offline storage within the Bank, Falcon team reports.

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   95

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.