Former Enron CEO plans blockchain venture; Louis Vuitton to track luxury goods with blockchain; Huobi’s US branch begins institutional focused OTC trading.
Former Enron CEO, Jeffrey Skilling, reportedly is meeting with specialists in cryptocurrency, blockchain, and software development to explore a new energy venture. The energy venture, while still very early, had been described as, “a digital platform connecting investors to oil and gas projects.” Skilling, in the early 2000s, was involved in one of the most significant fraud cases ever in the United States and was released from prison after more than 12 years a few weeks ago. The Wall Street Journal gives an extensive look at Jeffrey Skilling’s past as well as his new venture.
Louis Vuitton, the high-end luxury clothing company, is launching a company to develop blockchain tracking technology for luxury goods. The goal of the company is to track and prove the authenticity of luxury goods. Louis Vuitton partnered with Microsoft’s Azure blockchain as well as ConsenSys to create a new blockchain built on JP Morgan’s smart contract platform, Quorum. They expect to initially launch this platform June of this year to track Louis Vuitton’s 60+ luxury brand’s products and eventually offering it to competitors. Coindesk and Dailyhodl provide excellent analysis of Louis Vuitton’s plans to pioneer blockchain tracking of high-end goods.
Huobi, a global crypto trading market, is expanding offerings for institutional clients in the US. The new institutional client-focused group will be headed by former finance professionals with extensive experience with institutional asset management. Coindesk explores this move by Huobi further giving an analysis of why Huobi believe they are in an excellent position to be successful.