Update: this article has been updated to include statements made by Charley Cooper, managing director at R3. While last year R3 had implied that the company had a larger goal of raising $200 mln in funding, R3 told Fortune that the figure came from a now-cancelled plan to sell a stake in a research subsidiary. The unnamed former R3 employees told Fortune that the consortium’s internal financial targets are “10X short” of their revenue, with the figure described as “laughably off.” Charley Cooper, an R3 managing director, told Fortune that the company is not in danger of running out of …

Executive Director of Hyperledger Brian Behlendorf said he expects blockchain technology to curb the power of Silicon Valley's major technology companies, Cointelegraph auf Deutsch reported today, June 6. In an interview with Swiss business newspaper Handelszeitung, Behlendorf said that the coming wave of technology “will not be shaped by Silicon Valley,” adding that too many companies in Silicon Valley want to be the center of the world and “have a blind spot when it comes to blockchain.” Behlendorf stated: “Tech giants such as Google , Amazon or Facebook will undoubtedly pick up blockchain and generate business models from it. However, …

The mining pool of HDAC, a Korean blockchain-based IoT platform and issuer of the Hyundai-DAC token (DAC), has been hacked. This forced the company to temporarily halt withdrawals, TokenPost reported Thursday, May 24. HDAC’s founder Chung Dae-sun is the nephew of the CEOs of Hyundai Group and Hyundai Motors, the globally renowned car manufacturer. HDAC’s ICO was launched in 2017 by a conglomerate that includes Dae-sun’s software and construction firm Hyundai BS&C and its fintech and blockchain subsidiary HyundaiPay. According to TokenPost, HDAC’s mining pool server was breached by attackers who gained access to the pool’s internal system. In the …

Leading global asset management company Northern Trust (Nasdaq: NTRS) has announced that audit firms can now access fund data stored on a private equity Blockchain to audit specific events in real time, according to a March 19 press release. Northern Trust launched the first commercial implementation of Blockchain technology for private equity on Feb. 21, which allowed a limited number of clients to manage ownership shares on a transparent Distributed Ledger Technology (DLT) platform. Now audit firms can have their own Blockchain node, managing access to relevant fund data that enables real-time audit capabilities, says Northern Trust. The most recent …

Technology giant Oracle has officially become a member of the Hyperledger project as of August 2017. Hyperledger is a Blockchain-based project led by the Linux Foundation. Oracle intends to utilize the Hyperledger Fabric Blockchain code as the platform for its new cloud-based service. According to Oracle’s SVP for cloud platforms and middleware, Amit Zavery, the project is a vital component of their proposed Blockchain-based cloud platforms for commercial use. "As we develop our Blockchain cloud platform for enterprise use, we believe scalable cross-industry technologies, confidential transactions, and modular architecture promoted through initiatives like the Hyperledger Project, are critical components." Previous …