G20 Finance Leaders Ask Global Regulators to Consider Multilateral Response to Crypto
G20 finance ministers and central bank governors have asked the Financial Stability Board (FS and global standard-setting organizations to monitor risks around crypto assets. The request was made in a joint communiqué published on the website of Japan’s Ministry of Finance on June 9, following the G20 meeting held in Fukuoka, Japan.
NEO Releases Detailed Financials Ahead of Cryptocurrency Relaunch
The technology behind the cryptocurrency NEO, formerly known as Antshares, will be completely reconfigured by this time next year.
In April, NEO co-founder Erik Zhang announced that an optimized version of the blockchain network will relaunch as NEO 3.0 in 2020. The underlying infrastructure will be so different that token holders will need to turn in their assets for newly issued tokens.
Zhang told CoinDesk this process will not require know-your-customer (KYC) information, as the Singapore-based NEO Foundation will simply destroy the old assets and airdrop new tokens to designated wallets.
“Users only need to keep their private key. New tokens will be automatically dropped to their wallet address,” Zhang said, adding community leaders will work with exchanges to swap any tokens stored there. “We need to make sure that old tokens and new tokens don’t flow at the same time.”
These tokens have been circulating for years, so it is hard to say how a centralized point of redistribution will impact the ecosystem.
A financial report from the NEO Foundation, revealed exclusively to CoinDesk, showed the initial coin offering in 2016 raised $97,517 plus 8,169 bitcoin, the latter of which was mostly liquidated for more than $8.3 million by February 2018.
Kodak Launches a Blockchain-Enabled Document Management System
Kodak’s pivot to blockchain is coming into focus. The legacy camera brand announced a new blockchain-based document management system, at a two-day conference in Rochester, New York.
Unlike previous Kodak-blockchain announcements, Kodak Document Management Platform is not under license to a third-party and is an actual Kodak product.
The platform, launched under the name Kodak Services for Business, is intended for businesses and governments to store and manage sensitive documents. Kodak Document Management Platform relies on blockchain to provide efficiency and security, according to the company.
The company also claims that the blockchain platform will lead to 20-40% cost savings through automated workflows and decreased human management of content, information, and documents.
Kodak’s beginnings as an information solutions provider can be traced to a 2013 statement, which said the firm “has transformed into a technology company focused on imaging for business.” To that end, “Kodak serves customers with disruptive technologies and breakthrough solutions for the product goods packaging, graphic communications and functional printing industries.”