Franklin Templeton to Use Stellar For New Fund

Fund won't invest in crypto but “the ownership of the Fund’s shares may be maintained and recorded solely on the Stellar network"
04 September 2019   1122

Franklin Templeton, a large investment company that manages $ 700 billion worth of assets, intends to launch a fund for short-term investments, whose shares will be tokenized on the Stellar blockchain. The corresponding provisional application is published on the website of the US Securities and Exchange Commission (SEC).

According to the document, the fund will invest at least 99.5% of the assets under its management in government securities, cash and repurchase agreements fully secured by government securities or cash.

The document also states “the ownership of the Fund’s shares may be maintained and recorded solely on the Stellar network." Franklin Templeton expects that the use of the blockchain will increase transparency and reduce settlement time, however, the initiative remains in test mode and can be liquidated at any time by the decision of the company.

As part of the creation of the fund, a mobile application will be developed that will allow investors to purchase and redeem tokenized shares directly from the company, as well as track the balance in the Stellar blockchain.

It is noted that after registration in the application, an individual wallet will be created for each investor.

French Gendarmerie to Use Tezos Blockhain

Gendarmerie Cybercrime Division (C3N) is "validating judicial expenses" with Tezos blockchain
21 November 2019   66

The French Gendarmerie Cybercrime Division (C3N) uses the Tezos blockchain. The agency launched its first smart contract in September.

According to a press release, C3N uses blockchain to control the costs incurred during investigations.

Debuting on the Tezos network, this is one of the first examples of a government entity using a smart contract for operational purposes. The new program allows C3N to acquire cryptocurrency from Europol-allocated funds in order to cover operational costs.
 

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The new program also allows C3N to purchase cryptocurrency with funds allocated by Europol to cover operating expenses.

The statement noted that the smart contract was specifically designed so that C3N confirms costs without the risk of disclosing operational activities and problems for ongoing investigations.