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Transcript:
0:00:00 UK FCA Adds 3 Blockchain Firms to Regulatory Sandbox
0:00:05 This update is brought to you by "CoinCheckup News Updates" and was originally published on "BitcoinNews.com".
0:00:11 The Financial Conduct Authority of the United Kingdom has given the green light to three blockchain-based businesses to be part of the latest cohort of its regulatory sandbox.
0:00:21 Yesterday’s announcement named Diro Labs as one of the blockchain companies accepted by the FCA for conducting tests on a “short-term and small-scale basis”.
0:00:30 The startup is said to be utilizing “central blockchain-based store of information” for identity verification online.
0:00:37 The second firm is Fintech Delivery Panel Partners, who has been given the nod to pilot a “decentralized digital identity platform using machine learning identity verification and blockchain-based key management”.
0:00:49 The last, Nuggets, is a payments and digital identity platform that will test blockchain storage of personal and payment data, for onwards access of financial service products.
0:00:59 This is the fifth sandbox cohort containing both UK and foreign firms.
0:01:03 Last year, almost half of all the applicants accepted into the sandbox’s fourth cohort were related to blockchain and crypto businesses.
0:01:11 Thanks for watching this video.
If you wanna read the whole article you can go to CoinCheckup.com or go to: "BitcoinNews.com", who originally published this news update on their website.
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