David Chaum is back, JPMorgan's blockchain-powered cross-border payment product gains traction, BitPesa opens Remittance Corridor between Japan and Africa, Google unbans Cryptocurrency related Ads, Coinbase starts a system for listing proposals

David Chaum is back with a new Cryptocurrency

David Chaum, who created Bitcoin-precursor eCash over 30 years ago, is back and claims to have invented the fastest cryptocurrency that the world has seen up to this day. David Chaum wrote the academic paper, “Blind Signatures for Untraceable Payments,” and is one of the pioneers in the field of modern cryptography. He developed the framework for public-private key cryptography that is still widely used in Cryptocurrency and wallet technology today. His new project is called "Elixxir" and the founder claims it is capable to process hundreds of thousands of confidential, quantum-resistant transactions per second. According to Chaum, the team has developed a new way to process digital signatures, Elixxir will use one digital signature per block for each node contributing to that block. The new blockchain will be carrying out public key operations in advance, which would improve scalability and secures the network against the threat of quantum computer attacks. Blocks are produced first and filled up as transactions are recorded, this technique would reduce the processing time. This is a highly ambitious claim, but David Chaum is a person that has to be taken seriously.

The Interbank Information Network gains traction

JP Morgan's "Interbank Information System" (IIN) is a cross-border payment product that is powered by a blockchain. Over 75 Banks have signed up to test the new system, including Santander, Royal Bank of Canada and Societe Generale. The IIN is built on top of the permissioned blockchain "Quorum", which is based on Ethereum and was developed by JP Morgan.

BitPesa opens Remittance Corridor between Japan and Africa

SBI Remit will use BitPesa’s enterprise payment framework to allow 450 000 customers to send BTC to Africa. The core of this collaboration is a payment-channel between Japan and Africa.

Google unbans Cryptocurrency related Ads

Google announced that it will begin allowing cryptocurrency exchange advertisements in the U.S. and Japan for regulated trading services. This new practice starts in October. Companies that want to advertise within the Google network must be certified by Google. 

Coinbase starts a system for listing proposals

Coinbase announced Tuesday that the company will implement a new system that makes it possible for everyone to submit a cryptocurrency through an online form for evaluation under the company's digital asset framework. If an asset meets the criteria it may be listed. But not worldwide, instead a listing will be done on a jurisdiction-by-jurisdiction basis.