Startup accelerator Techstars has announced the participants of its inaugural blockchain acceleration program, which is being undertaken in partnership with blockchain advisory firm Alchemist. The ten companies chosen will work on applications of blockchain technology ranging from supply chain to gaming to financial markets. But the startups in the program will face a challenge raising funds with crypto markets down precipitously since their peak over a year ago.
Financial infrastructure group CLS has announced that its distributed ledger technology-based payment netting service for foreign exchange (forex) markets went live on November 28th. Built in conjunction with IBM, CLSNet is already being used by U.S. banks Goldman Sachs and Morgan Stanley.
Stock markets around the world dropped sharply the week of October 8th. But cryptocurrencies, which some argue could be safe haven during turbulent economic times, haven’t benefited. Yet with global stock markets beginning to look shaky, it’s possible that the thesis could be put to test.