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As society transitions from our reliance on oil and gas to renewables, can we expect to see supply challenges in the short term as global petrochemical organisations face pressure from ESG-mindful investors to change their dependency on fossil fuels and cut back their future oil and gas exploration activities?
Searches of ‘Bitcoin’ against terms associated with property have quadrupled globally with ‘Bitcoin’ and ‘property’ increasing together by more than 500 percent between November 2020 and its peak in January 2021. Notably, the UK has experiencied the largest growth in these search terms. While some banks are reluctant to engage with crypto currencies, we are seeing a new range of over-lenders entering the crypto mortgage market.
Could higher inflation usher-in regulatory demand for greater use of Blockchain technology and digital assets?
Given the huge fiscal stimulus by governments as economies come out of lockdown, we are beginning to see prices of lumber, oil and copper rise. House prices are outstripping domestic inflation rates, and some experts have begun to talk of the spectre of stagflation. If we are to see such a macro-economic shock, will this spur regulators to embrace transparent Blockchain driven platforms and assets?
UK CBDC moves one step closer: The Bank of England is clearly interested in the economic and social opportunities associated with use cases for digital currency and now, alongside HM Treasury, has announced the creation of a UK Taskforce to explore creation of UK CBDC. With this announcement, we are one step closer to digital GBP (dGBP), which would revolutionise the payments system and create additional, stronger, bridges into other digital assets for use by all.
The French financial markets authority (Autorité des marchés financiers, AMF) recently published its annual report, which considers its actions during the pandemic - such as the use, for the first time, of its power to ban net short positions. The AMF annual report also identifies various key areas for economic recovery.
Important new guidelines outlining how personal and other types of financial information should be handled by financial institutions throughout the data lifecycle have just come into force in China, including a new data localisation obligation. The “Financial Data Lifecycle Guidelines” (金融数据生命周期安全规范) were published by the PBOC (the PRC banking regulator) and came into force on 8 April 2021.
Tokenization is at the heart of the digitisation of infrastructure for several industries - it is the foundation for a digitised society with the potential for disruptive social opportunities. These opportunities are seen particularly in the field of energy, more specifically for a flexible and sustainable energy system. Part of this is the search for (i) a system in which "energy data" becomes more widely available, while at the same time the end-user (ii) retains control of his data and (iii) has control over who has access to his data.
Several international airlines have been exploring various ways in which Blockchain technology can be used to help improve the efficiency in the way they operate. Team Blockchain go into further detail and share some examples from within the sector.