German automobile manufacturer Porsche becomes the first carmaker to test the application of blockchain technology in vehicles. In the financial sector, the same nascent technology behind cryptocurrencies, has been used to execute securities lending transaction between Credit Suisse and ING.
Here is a wrap up of the main stories from the cryptocurrency space over the last 24 hours.
Porsche Introduces Blockchain Technology in Cars
German carmaker Porsche is testing blockchain applications directly in vehicles, becoming the first auto manufacturer to use the new technology. Porsche said it is teaming up with Berlin-based start-up XAIN, which offers various blockchain and artificial intelligence solutions.
Credit Suisse and ING Execute Securities Lending on Blockchain Platform
Credit Suisse and ING executed their first live securities lending transaction on blockchain platform. They swapped baskets of securities valued at 25 million euros using the application of financial technology innovator HQLAx. The transaction was settled using R3’s Corda blockchain platform.
Genesis Trading Offers Digital Currency Lending
Genesis Global Trading, an institutional trading firm offering two-sided liquidity for digital currencies, announced the launch of Genesis Global Capital, a digital currency lending business. With the service, institutional investors can borrow bitcoin, ether and other digital currencies in large quantities over fixed-terms.
Bitcoin Core Launches Software Upgrade with Support for SegWit
Bitcoin Core announced the launch of the latest upgrade for Bitcoin client software that includes full default wallet support for Segregated Witness (SegWit) protocols for bitcoin (BTC), making transactions cheaper and quicker. The release also has bug fixes.
Man Who Claimed to Have Invented Bitcoin Sued for Stealing Partner’s Bitcoins
Australian entrepreneur Craig Wright, who once claimed to be Bitcoin’s anonymous founder, has been sued by the estate of his former business partner Dave Kleiman for allegedly stealing Bitcoins worth $10 billion from the late IT security expert. The class-action lawsuit was filed on February 14 on behalf of Dave’s brother Ira Kleiman and the representative of his estate.
As of 6.30 am ET on Thursday, Bitcoin was up 0.75 percent at $10,689 and Ethereum was higher by 0.26 percent at $868 on Coinbase.