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SEC criticism by Hester Maria Peirce, Apple and Crypto, IBM and the Bank of Brazil

06/05/2019
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  • blockchain_cryptocurrency
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Hester Maria Peirce again makes a stand for cryptocurrency; Apple offers its solution for data encryption. IBM helps the Bank of Brazil to introduce identification technology.

The Commissioner of Securities and Exchange Commission Protects Bitcoin ETF

Hester Maria Peirce once again spoke in support of Bitcoin ETF contracts. The SEC Commissioner stated that her agency holds too conservative views when considering applications. The Investment Company Act, which the Commission relies on, was created back in 1940. Strict adherence to its rules leads to a slowdown in the process of adopting new financial instruments.

Up to now, SEC has not approved any application for launching cryptocurrency assets. According to Hester Maria Peirce, it literally oppresses projects with its individual attention. Against this background, Facebook Inc. appeal to CFTC for advice when launching the GlobalCoin sparked an interest. This agency is much more loyal to innovations adoption.

The Commissioner of Securities and Exchange Commission Protects Bitcoin ETF

Apple Drew Attention to Cryptographic Tools

At the upcoming Worldwide Developers Conference, Apple will show a new set of cryptographic tools for the developers. CryptoKit will improve security systems and expand the software functionality.

The company is wary of cryptocurrencies and everything related to them. Although in 2018 Steve Wozniak took part in the Equi Project, over some time, he announced the sale of all his bitcoins due to his disenchantment with cryptocurrency. Some experts believe that CryptoKit creation was a small step towards the study of cryptocurrency space. Although, it is difficult to imagine that the company still does not conduct developments in the shadows hitherward.

Apple Drew Attention to Cryptographic Tools

Identification Using Blockchain

The Central Bank of Brazil in cooperation with IBM have developed a new blockchain solution for payment systems. It will allow ascertain user’s identity by applying SIM card information in combination with other data contained in a mobile phone. The product will be launched during the CIAB Febraban event, which will be held on June 11.

The credit institutions are increasingly adverting to blockchain technologies to solve everyday problems. In May 2019, five banks from Canada at once began identifying customers via blockchain. This is due to the development of basic software by IT giants. For example, hundreds of commercial and government organizations are already using Hyperledger Fabric solution by IBM. However, Canadian banks decided to use an alternative solution by SecureKey Technologies, which indicates the emergence of competition in the IT development market.

What other ways of using blockchain technology exist? Identification Using Blockchain

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