Northern Trust has handed over its blockchain platform to fintech firm Broadridge Financial Solutions, according to a press release on June 26. The Chicago-based asset management firm Northern Trust has handed over its blockchain-based private equity (PE) management solution to Broadridge for further improvement. The platform purports to streamline and automate certain tasks, such as middle office functions. The PE blockchain solution will initially roll out “to all PE funds domiciled in Guernsey and Delaware, including those administered by Northern Trust.” Pete Cherecwich, President of Corporate & Institutional Services at Northern Trust commented on the hand-off, saying: “For the benefit …

Walmart China plans to track food through its supply chain with VeChain’s Thor blockchain, reveals a VeChain press release published on June 25. Per the release, the Walmart China Blockchain Traceability Platform (WCBTP) will be a joint venture by Walmart China, VeChain, PricewaterhouseCoopers (PwC), cattle company Inner Mongolia Kerchin, and the China Chain-Store & Franchise Association. WCBTP has been reportedly announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar jointly organized by Walmart China and the CCFA in Beijing. Walmart China already revealed 23 product lines that the system will track and plans to release another …

Canadian-based University of British Columbia (UBC) has announced a blockchain and distributed ledger technology training program for master’s and PhD students. UBC announced the development in a press release on June 11. The training path is reportedly designed to build competency around blockchain tech, and is focused on its application in four public benefit areas: health and wellness, clean energy, regulatory technology and Indigenous issues. UBC says they hope to train 139 students over a six-year period, and graduates should have the tools to evaluate blockchain solutions as well as identify opportunities for blockchain implementation. Canadian national non-profit research organization …

Dutch bank ABN AMRO announced that it is launching a blockchain inventory tracking platform dubbed Forcefield in a press release published on May 17. Per the announcement, the platform is an Internet of Things solution that allows the monitoring of physical trade inventories with sensors and near-field communication chips. Forcefield was developed over the past year as a stand-alone product and became an independent company following a successful proof-of-concept that was conducted with consulting firm Accenture. The bank claims that the system can lead to more secure physical handling processes and a reduction of costs in the management of commodities …

Luxury fashion brand Alyx intends to use Iota’s distributed ledger technology (DLT) for supply chain tracking, cryptocurrency news outlet The Block reports on May 15. Per the report, Iota’s system will be implemented in partnership with global manufacturing company Avery Dennison to allow Alyx’s customers to have full insight into their supply chain. By scanning QR codes with an app, it will reportedly be possible to track the course traveled by the item from its creation to the point of sale. The Block claims that data concerning the apparel’s production location, date and raw materials will be stored on Iota’s …

Kuala Lumpur-based Bursa Malaysia, the country’s stock exchange, is working on a blockchain-enabled security borrowing and lending proof-of-concept (PoC). English-language local media Bernama reported on the developments on May 6. Per the report, the initiative aims to develop greater transparency and address other challenges of borrowing and lending securities in Malaysia. More precisely, the exchange’s CEO, Datuk Muhamad Umar Swift, reportedly said that the PoC should increase the efficiency, speed and capacity of the aforementioned services, which should consequently bring greater demand. Swift claims that the benefits of the PoC will not be limited to the customers of Bursa Malaysia: …

Credit Agricole-backed blockchain-based settlement startup Setl has emerged from administration, financial news outlet Finextra reports on May 3. Per the report, the United Kingdom-based startup has returned following its insolvency filing after its management bought the operating assets, the staff and the intellectual property rights of the company. As Cointelegraph previously reported, Setl filed for insolvency on March 7 with U.K. authorities. Per the March announcement, the company also appointed business advisory firm Quantuma as their independent administrator. The announcement also pointed out that the company was “seeking to place its ID2S holding with a larger financial services firm, one …

The government transportation department in the city of Austin, Texas partnered with nonprofit Iota Foundation to develop a more interoperable transportation ecosystem. The Austin Transportation Twitter account reported on the partnership on April 25. The tweet contained a link to an event — which took place on April 29 — featuring Dominik Schiener, co-founder of the Iota Foundation, and local authority holders delineating the scope of the partnership. During the meeting, the speakers describe their visions of a system in which every transit system can interact with the same payment app and a single digital identity. The speakers also suggest …

Iota and internet of things (IoT) firm Evrythng announced a partnership to combine and apply their distributed ledger and IoT technologies to provide greater transparency for consumer goods supply chains. The news was revealed in a press release on April 17. According to the press release, Evrythng’s focus is to implement IoT and DLT technology to create unique, interactive and trackable identities for consumer products, with the aim of fostering greater transparency for both supply chain stakeholders and consumers. The partnership will reportedly see Evrythng’s Blockchain Integration Hub expand to include integrations with Iota’s distributed ledger protocol, known as Tangle. …

The National Payments Corporation of India (NPCI) is considering implementing blockchain technology to increase the strength of digital transactions, Indian business magazine Business Today reports on April 14. The initiative of ten banks, under the aegis of the Indian Banks’ Association (IBA), aims to improve the NPCI by implementing distributed ledger technology, the publication underlines. The NPCI, an umbrella organization that operates retail payments and settlement systems in India and includes 56 national banks as stakeholders, was set up with the guidance and support of the Reserve Bank of India and the IBA. The NPCI will focus on developing blockchain …

Indian IT services company Tata Consultancy Services (TCS) announced on April 10 that it carried out what it defines as the world's first cross-border securities settlement between two central depositories using the Quartz blockchain. The Central Securities Depositories (CSD) involved are reportedly Maroclear, the CSD of Morocco, and Kuwait Clearing Company, the CSD of Kuwait. During the test, a set of equities and fixed income securities from both markets were created on the chain along with accounts to hold them, and were instantaneously transferred. The system reportedly used cash coins on the BaNCS Network, powered by the Quartz blockchain. The …

Private bank Kleinwort Hambros launched an exchange-traded note (ETN) made up of blockchain-related companies, financial news outlet Finextra reported on April 8. Kleinwort Hambros is owned by Societe Generale, acting as their private wealth management division in the United Kingdom. Societe Generale itself is a multinational investment bank headquartered in Paris, with total assets of around 1.3 trillion euros ($1.4 trillion) in 2018. Per the report, the new derivative is available for a minimum investment of £1,000 (equivalent to about $1,300) and has been listed in Luxemburg. The stocks reportedly include 20 companies which are expected to profit from blockchain …