SBI Ripple Asia has formed a blockchain-based anti-credit card fraud platform with nine major Japanese credit card issuers. Photo:
Ripple continues to build its global payment networks that it now says includes more than 200 banks and payment providers worldwide. Ripple cites its network advantages as lower fees, faster transaction times and significant reductions in operational overheads in the 55 countries it now operates in. Image:

Ripple forms Japanese anti-fraud partnership: A fraud prevention initiative is seeing Ripple partner up with the newly formed Japan Payment Card Consortium. The concept, that uses real-time information to update transactions, will be run on the R3 blockchain platform. Corda and is partnership between SBI Ripple Asia and the Japan Payment Card Consortium, that is made up nine major Japanese credit card issuers.

Singapore government seeking to boost blockchain economy: Authorities in the Lion City are boosting subsidies for blockchain companies. Singapore’s Infocomm Media Development Authority (IMDA) is providing seed funding for the development of an all-encompassing blockchain platform that connects “all stakeholders from within and outside the [blockchain] industry.” Although the level of funding has not been disclosed, it’s another sign of Singapore wanting to take a leading regional role in blockchain and crypto.

Can crypto bots reverse the shrinking market? Wall Street trading is becoming increasingly dominated by trading bots and algorithmic high-frequency trading programs and the world of crypto is no exception. Trading bots are becoming a “vital tool for traders and institutions,” writes Forbes, that can help “minimize risk and execute large orders efficiently.” That said, because the crypto market has shed more than $700 billion since January, it is, according to, now worth collectively less than the McDonald’s franchise business. Can the bots supersize it?

Seoul tracks beef on the blockchain? The South Korean Ministry of Science and ICT, together with its Ministry of Agriculture, Food and Rural Affairs, are planning to use blockchain technology to track beef imports. State news agency Yonhap reported that “the program testing phase is scheduled for December and the official system launch is scheduled for January 2019” and the initiative follows various blockchain-based food supply chain projects globally, including one by Carrefour to track poultry in Spain. The move comes after a September announcement that said the South Korean government was doubling its blockchain pilot budget for 2019 to US$18 million, to allow it to better focus on blockchain-based supply chain management, customs, voting, real estate, cross-border documentation and logistics.

Ohio becomes first US state to accept Bitcoin for taxes: Paying your irksome tax bill just became that much easier recently in the US state of Ohio as State authorities have just announced that Bitcoin would be an acceptable form of payment there. Arizona state has a similar initiative in the works as do Georgia and Illinois. Ohio state treasurer Josh Mandel is pushing the initiative as part of an effort to rebrand the state as “tech-friendly.”

2 replies on “Monday’s blockchain and crypto news, from Asia and beyond”

Comments are closed.