UK plans to develop digital fund

The UK government has published a document that stressing the importance of the fintech development
06 December 2017   839

Today the UK government has published "Investment Management Strategy II" - a long term approach for enhancing the country’s future generation of investment management, focusing on fintech sector.

The document includes six areas of growth including the development of Asset Management Centre’s of Excellence at various Universities across the UK. The main goal is to strengthen the UK’s investment management pipeline in order to make the country a world leader in Fintech. It would like to achieve this through a digital fund based around blockchain technology.

These are key findings made in the document:

  • The government encourages the Investment Association to make rapid progress in seeking to establish a digital fund
  • The government strongly supports the development of the Asset Management Cyber Security Strategy and the Investment Association’s thought leadership on this issue
  • The government welcomes the commitment of the FCA and asset management industry in developing standard definitions to facilitate the promotion of innovation in the asset management industry
  • The government will host a second international FinTech Conference in 2018, building on the success of the 2017 inaugural conference

The UK FinTech sector is growing rapidly. It contributes £6.6 billion annually to the UK economy, and employs over 60,000 people in 1,600 companies.

Recently, the House of Lords, has published a report, stating that government of the UK should take a leading role in the practical testing and application of blockchain technology.

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.