{"id":82,"date":"2016-02-25T12:29:00","date_gmt":"2016-02-25T12:29:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/blockchain-can-help-governments-says\/"},"modified":"2022-03-04T13:08:44","modified_gmt":"2022-03-04T11:08:44","slug":"blockchain-can-help-governments-says","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/02\/blockchain-can-help-governments-says.html","title":{"rendered":"\u201cBlockchain can help governments\u201d, says Blockstream CEO"},"content":{"rendered":"<div class=\"separator\" style=\"clear: both; text-align: center;\"><\/div>\n<div style=\"text-align: left;\">\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><\/div>\n<p>According to\u00a0<b style=\"text-align: justify;\">Blockstream\u00a0<\/b>CEO,\u00a0<b style=\"text-align: justify;\">Austin Hill<\/b>, blockchain technology will be able to help government regulatory agencies.<\/p>\n<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">During a recent inverview with <b>Bloomberg TV<\/b>, in fact, Hill stated that blockchain\u00a0<i>\u201cis a fundamental shift in how the underpinnings of how finance work, moving much more to an open, permission-less innovation platform. I think people are beginning to realize that some of the underpinnings of our finance system have not changed in 20 years. Wire transfers, international remittances, post-trade settlement, the entire way that banks and finance organizations do netting, a lot of issues around how stock and assets are traded and actually tracked which led to some of the problems in 2008 of systemic risk\u201d.\u00a0<\/i><\/div>\n<div style=\"text-align: justify;\">\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"clear: left; float: left; margin-bottom: 1em; margin-right: 1em;\" href=\"https:\/\/1.bp.blogspot.com\/-mlAKOkpANvA\/Vs7yncKEctI\/AAAAAAAAAOg\/g_wBR97tqow\/s1600\/Blockchain%2Band%2BBitcoin%2BregulationYes%2Bor%2Bnot-.png\"><img loading=\"lazy\" decoding=\"async\" title=\"Bitcoin regulation. What do you think?\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/02\/BlockchainandBitcoinregulationYesornot-.png\" alt=\"bitcoin regulation \" width=\"400\" height=\"335\" border=\"0\" \/><\/a><\/div>\n<p>&nbsp;<\/p>\n<\/div>\n<p><b style=\"text-align: justify;\"><b>What Blockstream is?<\/b><\/b><b><\/b><br \/>\n<b><br \/>\n<\/b><\/p>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\n<div style=\"text-align: left;\">Austin Hill and his team have developed a blockchain &#8220;sidechain&#8221; technology to link the <a href=\"https:\/\/holytransaction.com\/page\/what-is-bitcoin\">bitcoin<\/a> blockchain to the other existing public and private blockchains.<\/div>\n<\/div>\n<div style=\"text-align: justify;\"><i><i><br \/>\n<\/i><\/i><br \/>\n<i><i>\u201cWe want to power interoperable markets that are fair and accountable. Openness, accountability and public ledgers should be the norm and should not require users to sacrifice privacy. We seek to empower users with trustable and secure financial mechanisms via public auditability of their transaction history without disclosing more than is necessary for the integrity of the blockchain\u201d, <\/i>reports their <a href=\"https:\/\/www.blockstream.com\/\">official website<\/a>.\u00a0<\/i><\/div>\n<p><i><\/i><br \/>\n<i><br \/>\n<\/i><\/p>\n<div style=\"text-align: justify;\">Recently Blockstream has announced $55 million in series A funding to further enhance their sidechain technology, expand their operations globally, and support new industry partnerships, bringing their total investments in the company to $76 million.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<p><i style=\"text-align: justify;\"><i>\u201cWe\u2019re changing how the actual ledger works. It offers huge cost savings for financial organizations in the area of regulatory compliance, trust with other organizations because right now there\u2019s a huge amount of reconciliation that has to occur where everyone has their own copy of the ledger and no one agrees\u201d.\u00a0<\/i><\/i><i><\/i><br \/>\n<i><br \/>\n<\/i><\/p>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Bloomberg TV journalist asked him if he is worried about the regulatory environment, so Hill answered that it is not a problem as regulators only want to remove risks:<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<p><i style=\"text-align: justify;\"><i>\u201cThis technology offers some of the best potential to actually remove systemic risk. And a lot of regulators around the world are beginning to realize that, so they\u2019re looking at their own solutions even at the national government level to say if we do support fiat currency issued on a blockchain, what is the right technology to do so?\u201d<\/i><\/i><i><\/i><br \/>\n<i><br \/>\n<\/i><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>According to\u00a0Blockstream\u00a0CEO,\u00a0Austin Hill, blockchain technology will be able to help government regulatory agencies. During a recent inverview with Bloomberg TV, in fact, Hill stated that blockchain\u00a0\u201cis a fundamental shift in how the underpinnings of how finance work, moving much more to an open, permission-less innovation platform. I think people are beginning to realize that some [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,44,76,101,112,115,116,309,329,541],"tags":[735,764,793,803,806,807,985,1006,1200],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u201cBlockchain can help governments\u201d, says Blockstream CEO -<\/title>\n<meta name=\"description\" content=\"Austin Hill and his team have developed a blockchain &quot;sidechain&quot; technology to link the bitcoin blockchain to the other existing public and private blockchains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2016\/02\/blockchain-can-help-governments-says.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cBlockchain can help governments\u201d, says Blockstream CEO\" \/>\n<meta property=\"og:description\" content=\"Austin Hill and his team have developed a blockchain &quot;sidechain&quot; 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