This week in crypto has interesting developments from a number of European countries pushing for resistance against Libra cryptocurrency to a number of blockchain startups raising funding to build solutions.
It was also good news for the entertainment industry when it was revealed that Warner Music would be collaborating with Dapper Labs, the company behind CryptoKitties, to create a new blockchain called Flow. Flow is especially designed for “composability” where one developer can use code from one application in a wholly other one. Additionally, Warner Music is reportedly looking into how cryptocurrency could be used to enable a new method for tipping artists on the network and testing two different blockchain platforms for directly connecting musicians with their fans without the need of intermediary distributors.
Cross-border payments are about to see a major revolution as well with Mastercard announcing it has partnered with blockchain firm, R3, to develop a cross-border payment solution. The two firms inked a deal to “develop and pilot” the payments solution which will initially be aimed at connecting faster payments schemes and banks backed by Mastercard’s clearing and settlement network. The platform will be built on Corda Enterprise, the commercial version of the platform, as opposed to the open-source Corda Network.