National Chinese Science Academy to Launch Blockchain Lab

China continue to move forward to distributed ledger technology
21 June 2018   369

Chinese Academy of Sciences (CAS) reported that together with the Beijing blockchain start-up Tai Cloud Corp has established a new "Big Data and Blockchain Laboratory" whose activities will focus on "the relationship between the technology of blockchain and mathematics". This is reported by Coindesk.

Xiaoshan Gao, deputy director of the Center for Mathematics and Interdisciplinary Sciences at the CAS, said that, in his view, mathematical methods play a "key" role in many fundamental problems of blockchain technology.

This laboratory, established shortly after Chairman Xi Jinping of China endorsed the blockchain technology at the annual scientific conference held by the CAS in May, is not the first step of the CAS in the field of the blockchain. Earlier this year, the Academy announced that it was going to develop a platform capable of "simultaneously support public, private and consortium blockchains."

The fact that China may have big plans with blockchain, despite the ban imposed last year on crypto trading, became clear at the end of May, when Xi Jinping admitted that the blockchain has potential, for the first time publicly supported the developing technology .

Ex S&P President to Invest in iComply Startup

The startup is aimed at developing tools and services to meet the regulative standards for blockchain start-ups
14 August 2018   115

Startup iComply, working in the field of regulatory technologies and compliance with standards, has just completed the initial round of financing, which was headed by former Standard & Poor CEO Deven Sharma, CoinDesk reports.

IComply, aimed at developing tools and services to meet the regulative standards for blockchain start-ups (especially for those that conduct ICO), said on Monday that it attracted a seven-figure sum during this invest-round, but did not say the exact figure. The round was also attended by DMG Blockchain and Block X Capital.

In addition, iComply reported that it was joined by former employee of the Commodity Futures Trading Commission (CFTC) Jeff Bandman, former Managing Director of NASDAQ and the Financial Services Industry Regulation Service (FINRA) Manny Alikandro, MIT Connection Science program member, Praveen Mandal and Prosecutor Thomas Linder.

According to Sharma, he decided to invest in the startup iComply, because the project "is focused on services for ICOs related to risks and compliance with standards." Compliance with the standards, he said, will ensure the transparency of ICO issuers and thereby help to ease the concerns of regulators.

Sharma also believes that iComply can contribute to the spread of crypto technologies, helping the entry of traditional financial services into this industry.

My interest is to see iComply evolve into a benchmark that investors can use to assess credibility of issuers, sustainability of underlying services and the price of ICOs. iComply's patent-pending software enables both security and utility tokens to monitor and document compliance, governance and risk procedures, before a public blockchain executes an immutable trade, providing trust, integrity and transparency for our clients. There have been a few ICOs that had a fundamentally robust offering that I understood and did interest me [but I] missed the opportunity. Others that have transparency from a service like iComply, I would [invest in].

Deven Sharma

Ex-president, Standarts & Poors

It is the ideas of transparency and trust, according to Sharma, that sparked his interest in order to start working with the blockbuster.