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BIG Weekly Newsletter
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A Message To The Reader
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Welcome to the BIG weekly Newsletter!
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This week read about how Goldman, Deutsche Börse, 30 firms join Canton Network for institutional blockchain interoperability, why Hong Kong’s OSL Asset Management wins license to invest in blockchain, Web3, Artificial Intelligence and how IKEA car charging points to use blockchain to trace renewable energy.
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We offer a free consultation with access to the blockchain insights. Book your free consultation with us here.
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BIG SERVICES
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Do you need to assess, evaluate & plan your business model?
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We can develop your business strategy by providing an assessment report, a detailed concept/whitepaper, digital asset and tokenization, establishing project and corporate governance (board, c-level) and localisation services to setup in Switzerland, govern your firm, fundraising support.
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We can design your product, service and target operating model (TOM), defining functional and service level requirements, requesting for proposal, evaluate & select service provider, implementing integration, project management, testing and go-live activities.
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We can provide you with legal coordination with Lawyers, SRO, Finma, Non-Action letter, support with taxation, compliance, due diligence, risk assessment, support & tools, audit, policy framework and proof of cryptocurrency ownership, compliance workshops.
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We can support your operations by establishing a team and leading day to day production activities, engaging specialists to minimize cyber security risks or attacks, providing technical solutions and architecture design, set up and manage IT infrastructure and analyzing the codebase of blockchain platforms and applications to identify vulnerabilities and potential improvements.
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Following BIG's successful business development over the last five years with a focus on financial services, implementing various projects related to blockchain and digital assets, we are expanding into new industries and are looking for an experienced industry leader with hands-on experience in business development, project management and technology.
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Goldman, Deutsche Börse, 30 firms join Canton Network for institutional blockchain interoperability
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While there’s a belief that the future of institutional finance revolves around blockchain and tokenization, to date, many of the efforts create new siloed blockchains.
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Hong Kong’s OSL Asset Management wins license to invest in blockchain, Web3, AI
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OSL Asset Management plans to focus on private equity investing in blockchain, AI and Web3 technologies and will launch its first fund in a few months.
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IKEA car charging points to use blockchain to trace renewable energy
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By the end of 2023, ACCIONA plans to install 475 stations, eventually reaching 567 slots. Around 30% of the stations are reserved for IKEA suppliers and its fleet. Several groups are exploring this vehicle-to-grid integration, including using blockchain to track the process.
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REGULATED DIGITAL ASSETS (STO, TRADING, CUSTODY, COMPLIANCE)
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NY Attorney General poses sweeping crypto regulation
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The draft legislation is comprehensive and includes, among other things, provisions requiring stablecoin issuers to hold a highly constrained set of reserves at a 1:1 ratio. This draft legislation is the NYAG’s latest effort to assert control over the crypto industry.
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Zimbabwe launches gold-backed digital tokens
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The issuance of a gold-backed digital currency to provide investors with a platform to save, invest, and transact in gold was confirmed. Thanks to fractionalization, people can acquire digital gold tokens for as little as US$10.
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SEC reluctant to define digital assets, crypto regulatory uncertainty continues
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It would have been the first time the SEC has actually used and defined digital assets, but “the commission and staff are continuing to consider this term and are not adopting ‘digital assets’ as part of this rule at this time.”
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FINANCIAL SERVICES & CENTRAL BANK DIGITAL CURRENCY (CBDC)
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EU Parliament Economic and Monetary Policies Unit cautions ECB on digital currency launch
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The European Central Bank is considering launching a retail CBDC, to improve payment efficiency, innovation & monetary sovereignty.
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Bank of Canada launches digital dollar consultation
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It elaborated on two potential motivations for a CBDC. One is where cash use declines to such an extent that it’s no longer accepted, which could financially exclude groups of people.
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The future of central bank digital currency
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Although there are ongoing debates around digital currency privacy and fear of government overreach, the regulation and adoption of CBDCs and stablecoins continues to accelerate.
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CRYPTOCURRENCIES, DeFi and NFT
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Liechtenstein to allow payment for certain state services in Bitcoin
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Prime Minister Daniel Risch, who is also Liechtenstein's finance minister, said the country plans to accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency.
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German Unstoppable Finance to launch Europe’s first 'DeFi-Native Bank’
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Unstoppable Finance, most well known for its self-custodial crypto wallet called Ultimate, will be rolling out Europe’s first compliant "DeFi-native bank" alongside a fiat-backed Euro-pegged stablecoin following MiCA’s guidance.
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The NFT market needs AI power to combat forgery and inflation
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More than half of the NFT activity on the Ethereum blockchain, the most popular network for NFT trades, was fraudulent. From wash trading to copycat collections, the NFT market entered 2023 with a set of critical issues that could only be solved by advanced market intelligence and analytics.
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RECOMMENDED INDUSTRY REPORTS AND BOOKS
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2023 State of Crypto Report:
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Introducing the State of Crypto Index
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PODCAST SERIES
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THE SWISS ROAD TO CRYPTO PODCAST
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In this podcast Didier Borel discovers people in Switzerland playing an active role in crypto and tech. He talks to entrepreneurs, tech innovators and disruptors shaping the future in this country. Switzerland has always played a key role in banking and has recognized the need to foster innovation.
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Laura Shin is a crypto/blockchain journalist and host of the Unchained and Unconfirmed podcasts. As a former senior editor of Forbes, she was the first mainstream reporter to cover crypto assets full-time. She gives an overview to all experts and novices alike on the use cases making a real impact, and their vision for the future of this innovative technology!
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Got a question?
Or perhaps a suggestion? We'd love your feedback.
Contact Rali Hill
- content provider of this Newsletter.
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