South Africa's Central Bank Launched a FinTech Programm

The South African Reserve Bank has launched a financial technology program that will trial JPMorgan's Quorum blockchain potential in interbank clearing and settlement  
14 February 2018   842

According to the official media statement dated February 13, the main goal of the programme is to track and analyse FinTech developments in order to assist an appropriate policy framework and regulatory regime in formulating frameworks.  

It is also indicated that the South African Reserve Bank (SARB) established a program in order to launch Project Khokha which will experiment with distributed ledger technologies (DLTs). It will prioritize a project to explore a proof-of-concept (PoC) using the tech.

The SARB announced its technology partner, ConsenSys, a world-leading expert on Quorum. It will assist the SARB in the design, setup of infrastructure and running of the POC. The project will involve replicating the wholesale payment process on Quorum, the enterprise blockchain co-developed by JPMorgan and ethereum startup EthLab.

According to the SARB’ statement, the aim of this project is to gain a practical understanding of DLTs through the development of a proof of concept (PoC) in collaboration with the banking industry.

The SARB will release a public report explain all the findings, risks and benefits of the associated project during the second quarter of 2018. 

Poloniex to Suspend Operations for Few Hours

Representatives of the exchange say users' funds will be completely safe during maintenance
21 February 2019   55

The cryptocurrency exchange Poloniex has announced maintenance, which will begin on February 22 at 22 UTC. The trading platform will be unavailable for several hours.

Representatives of the exchange claim that the users' funds will be completely safe. Technical work associated with the modernization and transition "to the best data centers, which will increase the reliability of the platform and increase uptime."

Also in Poloniex noted that the trade orders of users will not be canceled.

Recall, recently Poloniex has added to the listing of privacy-oriented cryptocurrency Grin.