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- Nasdaq Sweden opens trading with Ethereum ETNs!
- Japanese Company Fujitsu tests Blockchain Application!
- Prime Minister praises Slovenia as a Blockchain friendly Country!
- Indian State uses Blockchain in Land Surveying!
- Taiwan wants Bitcoin friendly Environment like Japan, and no ICO bans as in China!

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For the first time, an Ethereum financial product is traded on a Nasdaq Exchange - an important step towards regulated crypto trading.

Two days ago, CoinShares announced that it had an Exchange Traded Note (ETN) for Ether on the Nasdaq Stockholm Exchange. So there are two ETNs, one in Swedish kroner (Ether Tracker One - COINETH: SS) and one in Euro (Ether Tracker Euro - COINETHE: SS). Already in 2015, CoinShares had launched a Bitcoin ETN to provide investors with the opportunity to invest in the crypt currency market through the traditional financial market.

Exchange Traded Notes (ETNs) are exchange-traded debt securities that replicate the performance of underlying reference indices. In doing so, the issuer guarantees the development of the value by providing derivatives between the ETN and the underlying for an approximate correlation. In contrast to an ETF, the index 1: 1 is not bought and mapped. In contrast to the ETF, there is also a higher risk because it is not a fund. If the issuer is therefore in economic problems, then the investment is not protected or secured it is an unsecured credit. In addition, ETNs always make up only a single asset. Basket solutions like ETFs, where several assets are mapped and weighted in a fund structure, do not exist.

Nevertheless, a significant inflow of capital into the Ether financial product is to be expected, since institutional investors in particular have to rely on regulated financial products. The Bitcoin ETN currently comprises a position of 58,450 Bitcoin, or approximately 240 million Euros. Accordingly, it is to be expected that a few million will also flow into the Ether ETN.

The ETN, like any other financial product, can be traded on the Nasdaq Stockholm Exchange without leverage. For regulatory reasons, the ETN is only accessible to European investors or investors with access to the Nasdaq Stockholm Exchange. Interesting could be the tax component, for example, since tax savings are theoretically possible for longer periods of time.

One of the managers of CoinShares, Ryan Radloff, calls the ETH Tracker a "historic moment for Ethereum and for Ether as an asset; and also for the future of crypto assets. "So far, however, the securities are only available on the Nasdaq in Stockholm. The XBT Bitcoin Tracker also started on the same exchange. This securities spilled over to the German trade platform Tradegate a few months later. Today it is also available in the UK, France, Italy and Denmark.

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The Japanese IT giant Fujitsu has announced a partnership with three major Japanese banks to work on a pilot project to build a peer-to-peer money transfer system on a blockchain basis.

In a [press release](http://www.fujitsu.com/global/about/resources/news/press-releases/2017/1010-03.html), the technology group announced the strategic partnership with the banking groups Mizuho Financial Group, Inc., Sumitomo Mitsui Financial Group, Inc. and Mitsubishi UFJ Financial Group, Inc. According to this, at the beginning of January 2018 a joint attempt should be started to handle peer-to-peer transfers of monetary sums over the blockchain. Fujitsu had already partially completed the technology needed for this, and the further development of the company was attended by high pressure.

For the field trial Fujitsu wants to develop a cloud-based blockchain platform for the money transfer between different individuals. This could then be used partly by the three major banks involved in the project. The user of the service is to be connected to the platform via a smartphone app, which allows him to send money as well as deposit and deposit withdrawals.

Fujitsu, as well as the three major banks involved, ensure that the transactions made via the blockchain can be seamlessly linked to the individuals involved in the respective transaction. As a result, the entry barriers for customers of these three banks are kept as low as possible.

The field test is to clarify whether the platform developed by Fujitsu is able to meet the multiple requirements and to handle all processes accordingly. This includes, for example, money transfers, billing and payment balances. In addition, the platform should be as user-friendly as possible. Fujitsu expressed its hope to make its own contribution to the further development of a monetary and cashless company.

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Slovenia has set itself the goal of becoming one of the most innovative countries in Europe. An adaptation of the blockchain also plays a role, as Prime Minister Miro Cerar now announced.

[Slovenia's Prime Minister spoke](http://www.vlada.si/en/prime_minister/news/a/slovenias_challenges_2020_a_vision_for_the_development_and_regulation_of_blockchain_technology_in_modern_society_1108/) to the assembled guests at the event "Digital Slovenia 2020". While he is there drawing the digital strategy of his government for Slovenia over the next 3 years, he also laid a great focus on the blockchain. This would play an important role in the future direction of his country. To this end, his government has just begun to set up a [Think-Tank](http://digitalna.si/blockchain-think-tank-up-and-running-in-slovenia-03-10-2017.html), which is to focus on researching the application possibilities of the new technology.

Miro Cerar praises the development of Slovenia as a country that can increasingly play a role in the world and is now rightly taking a place as a "green country in a digital Europe". In addition, Cerar's government wants to build Slovenia as the "most important blockchain location in the European Union".

Miro Cerar said in his speech:

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Ministries and regulators are already in the process of looking at the blockchain more closely and the Slovenian state is also participating in blockchain activities on the European level. In addition, a pilot project should be launched soon, which should test the technology at the level of state administration.

The blockchain Think-Tank has been established by the government in collaboration with the Slovenian Digital Coalition and is intended to establish a short line between the Slovenian blockchain scene and the state. The main objective is to raise awareness about the blockchain, to work out legislative proposals and to transform Slovenia into a national blockchain ecosystem in the long term.

"I am convinced that the use of blockchain will help to further the Slovenian success story," Cerar concludes his comments on the blockchain.

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In the future, the Indian state of Andhra Pradesh (PA) wants to put blockchain in land surveying. The government of the federal state presented a corresponding pilot project at a [conference](https://www.blockchainbusinessconference.com/) earlier this week. The Swedish software producer ChromaWay is the technological foundation. The architects behind the Swedish Blockchain land registrar Lantmateriet succeeded in the next coup to carry the blockchain into the public administration.

The corruption in the land survey of India is flourishing. The Indian Government estimates the amount of bribes on US dollar amounts in three-digit millions. The state of Andhra Pradesh now wants to change this and, technologically speaking, calls for corruption.


As reported by [Coindesk](https://www.coindesk.com/andhra-pradesh-partners-with-chromaway-to-develop-blockchain-land-registry/), the weapon of choice will be blockchain technology from Sweden. With the ChromaWay software, the Government of the seventh largest state of India wants to make the state register and land register entries more transparent and prevent the possibility of opaque bribery.

The technology of the future
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The Secretary of State, J. A. Chowdary, said:

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The project now underway is part of the [Fintech Valley Vizag](http://www.fintechvalleyvizag.com/) initiative. The government of the federal state in southwest India has set itself the goal of pushing forward the use of public technologies and, in particular, blockchain solutions.

Like the Indian central bank and other [federal states](http://economictimes.indiatimes.com/small-biz/security-tech/technology/blockchain-tech-is-joining-e-gov-dots-in-ap-telangana/articleshow/59330625.cms), Andhra Pradesh is taking blockchain solutions into the public administration. In September, the state had already signed a partnership with the start-up [WISeKey](https://www.wisekey.com/press/wisekey-and-the-government-of-andhra-pradesh-india-announce-collaboration-to-bring-security-to-block-chain-and-fintech-projects/). The Swiss cyber security service provider is to assist the government in securing future citizen data. In addition to Andhra Pradesh, the Genevaians support Rwanda with blockchain software.

On the advance
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The project is a big success for ChromaWay: The blockchain pioneers from the north are placing a new name on the list of their customers with the Government of the Indian state, which includes the Swedish state registry, the SBAB bank and the Swedish Landshypotek bank. In addition to surveying the country, ChromaWay develops smart contracts for real estate sales.

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Taiwan will not regulate Initial Coin Offerings (ICOs) and crypto currencies such as Bitcoin, and will not drive the hard course that countries such as China and South Korea have did.

Wellington Koo, chairman of the Taiwanese Financial Supervisory Authority, confirmed today in the signing of the joint meeting of the Taiwanese Parliament and Cabinet that Taiwan will not follow China and South Korea and will not ban all activities on crypto currencies. Instead, according to the head of the Taiwanese regulator, the country would adopt a more friendly attitude and support the development and acceptance of crypto currencies and blockchain technology in Taiwan.

According to the [News Lens report](https://international.thenewslens.com/article/80463), Koo's official position on Taiwan's attitude was the response to a request from Jason Hsu from the Taiwanese National People's Party, which has long supported the FinTech industry and called for deregulation.

News Lens quoted Hsu:

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According to Hsu, the "Financial Technology Innovation Experimentation Act" is also adopted following Koo's declaration. This law will, if it is in force, create a Fintech laboratory for crypto currency and blockchain startups in a deregulated space.

Today's explanation of the supreme regulator in Taiwan is a completely different approach to the regulation of crypto currencies and especially initial coin offerings (ICOs). These are a radically new form of capital procurement using crypto currencies such as Bitcoin and Ethers.

About a month ago, the Chinese central bank announced a general ban on ICOs as they were an illegal form of capital procurement. This draconian measure triggered an avalanche, which led to the closure of all Bitcoin trading platforms in the PRC. A week ago, South Korea followed the Chinese example and banned ICOs regionally. Japan, on the other hand, confirmed a law which, in April of this year, recognized crypto currencies as the official means of payment.

Last week, Hsu said restrictive regulation would lead to a "chain reaction" of the regulatory and supervisory authorities around the world.

Hsu was quoted last week by the [Financial Times](https://www.ft.com/content/c245372a-a4e0-11e7-9e4f-7f5e6a7c98a2?mhq5j=e5):

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All fears that Taiwan, like China and South Korea, will be subject to total bans, as the FT report has said, has been dissipated by today's announcement of a gentle regulation by the Taiwanese authorities.

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I wish you all a lovely Friday and a good start in the Weekend!!!
LOVE&LIGHT
Best Regards
@danyelk

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