BTCnews

Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses : Read more: https://bitcoinmagazine.com/articles/proposed-regulations-could-cause-major-shifts-canadian-crypto-businesses/ #blockchain #btcnews

EU’s European Blockchain Observatory and Forum to Host Blockchain AMA : Link: https://bitcoinmagazine.com/articles/eus-european-blockchain-observatory-and-forum-host-blockchain-ama/ #cryptocurrency #btcnews

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The Bank for International Settlements (BIS), which serves central banks in their efforts to promote monetary and financial stability, claims permissionless cryptocurrencies are not suited to serve as the basis of a monetary system, although the bank acknowledges there are niche areas where cryptocurrency can provide improved efficiencies. The bank also acknowledges the possibility of central bank issued digital currencies, which several central banks are presently exploring. Central Banks Provide Stability: The bank offered its assessment on cryptocurrencies and distributed ledger technology in its annual economic report. According to the report, for a monetary system to successfully facilitate transactions, it must be elastic to address demand and must be able to scale with the economy, a function central banks have successfully provided, the report noted. The central banks ensure the payment system operates efficiently and ensure the supply of reserves responds properly to shifting demand. Cryptocurrencies’ decentralized technology, by contrast, offers an insufficient substitute for the traditional, institutional backing of money. Decentralized Consensus Risks: A decentralized consensus through which transactions are verified can undermine trust in the system, the bank contends. A breakdown in trust will cast doubt on the finality of individual payments, meaning the system could stop functioning, causing a loss of the currency’s value. Beyond the issue of trust, cryptocurrencies are subject to inefficiencies and extensive energy consumption. Such currencies are unable to scale with rising transactions, making them subject to congestion and value fluctuation. Matching the supply of the means of payment with transaction demand requires a central authority, such as a central bank, to expand or contract the supply. The authority has to be able at times to trade against the market, even if this means absorbing a loss. In a decentralized network, by contrast, no central agent exists with the incentive or mandate to stabilize the currency’s value.

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Stronger Walls ⛓ _____________________________________________________ Factom, a Texas-based startup, is working on a technology that integrates data collected by the sensors and cameras onto a blockchain, securing data and eliminating the opportunity to spoof, modify or disrupt it, according to the release. Factom's product will be tested in an environment with limited internet connectivity and variable weather conditions to gauge its performance in a live Border Patrol scenario. As reported by CoinDesk, Factom received $200,000 from the DHS in 2016 to begin developing the current project. The funding is a fourth tranche of a grant provided to Factom by the DHS in the course of its Silicon Valley Innovation Program, which allows tech companies to apply for $800,000 in funds over a 24-month period. Currently 23 companies, including Factom, are in process of developing their solutions for DHS with assistance from its grants, incorporating technologies such as the internet of things, unmanned aircraft systems, cybersecurity solutions for financial services, global travel assessment systems, airport passenger processing and wearable technologies. _____________________________________________________ 🔽Let us know what you think in the comments! #ClickTool _____________________________________________________ Read more at: https://www.coindesk.com/factom-blockchain-project-wins-grant-to-protect-us-border-patrol-data/

Fear The Crypto 🇰🇷 _____________________________________________________ More than that, the Bank of Korea (BoK) went as far as to say that "digital currencies do not perform as money," in a new report. While the central bank set out to examine the feasibility of using digital currencies as currency, "our thoughts are that digital currencies have been exposed to various categories of risk associated with credit, liquidity and legal management," said Kwon Oh-ik, a BoK economist, in the report. The central bank isn't entirely negative on CBDCs, however, saying that they could "revolutionize" the banking system. Even so, they would need to be rigorously tested before being approved. The paper also recommends the regulation of private issuance of digital currencies, according to Yonhap, adding that the government should impose a tax on issuers to make them less likely to exaggerate the value of their holdings. The central bank has been studying the possibility of a CBDC and how cryptocurrencies might influence the financial sector since January, when it set up a task-force to research the technology _____________________________________________________ 📌Do you think cryptos pose a moral hazard? ⬇️Drop a comment and let us know what you think! #CoinGage _____________________________________________________ Read more at: https://www.coindesk.com/bank-of-korea-central-bank-cryptocurrencies-pose-moral-hazard/

Binance Backs Malta Stock Exchange's Startup Accelerator www.bitcoinbrilliant.com #btcnews #litecoin #makemoney https://www.coindesk.com/binance-backs-malta-stock-exchanges-startup-accelerator/

Follow @Dominik.stv for more cryptonews :) One of 17 institutions chosen for Ripple’s $50 million academic pledge, the University of Texas at Austin will receive $2 million from San Francisco-based industry giant Ripple. The McCombs School of Business at UT will receive $2 million from Ripple over the next five years to fund research at the institution’s Blockchain Initiative program, a report by university student newspaper The Daily Texanhas revealed. McCombs hosted its first blockchain conference in April 2018 to much interest among faculty and students from different universities including its own, the report suggested, pointing to an increasing demand and appetite to explore the decentralized technology commonly associated with cryptocurrencies like bitcoin. The conference was attended by 300 people, including Ripple executives, students and staff. Notable attendees included Goldman Sachs’ senior FinTech equity researcher Jim Schneider and Walmart vice president of food safety Frank Yiannas who delivered keynotes alongside other panelists from USAA, the SEC, ICE and IBM. “That [conference] was the catalyst for really seeing that there was a lot of demand from students and industries and companies for having a central focus inside the business school to basically harness the demand for blockchain technology,” program director Cesare Fracassi said. The initiative lays out three main objectives behind its foundation, namely supporting faculty and graduate students on blockchain research “across colleges” at UT, teach students “the main concepts related to blockchain, cryptocurrency and digital payments”, and be “the hub of knowledge for external relations” with the industry, policymakers and media. While relatively new, McCombs’ Blockchain Initiative will use the funding from Ripple to finance projects, research and outreach programs that connect students to companies in the city, Fracassi added.

The government of Kerala, a state in South India, is turning to blockchain tech to organize the supply chain process of everyday groceries. The new project will specifically look to streamline the supply chain networks – including distribution – of milk, vegetables, and fish in the state using blockchain technology, the Press Trust of India reports. The Kerala Development and Innovation Strategic Council (K-DISC), the state’s think tank, will spearhead the project that will include RFID tags and the use of Internet of Things (IoT) devices to monitor transportation. With its implementation in the dairy sector, K-DISC chairman K M Abraham explained the blockchain will continuously monitor production, procurement, and distribution of milk to ensure speedy delivery to millions of people on a daily basis. In addition, the transportation of milk within specific temperatures in refrigerated trucks will also be monitored through RFID tags and IoT equipment. Specifically, every single component of the supply chain network will have a separate ID that will be recorded on the blockchain, enabling real-time monitoring of the quality of the product at its source at every step of the chain. Fish-landing spots and farmlands will also be linked using geo-coded images, enabling real-time monitoring and verification of goods at every single step of the delivery process from warehouses and retail centers through to their point-of-sale locations of the customer. The Kerala government is also considering the use of blockchain technology for its crop insurance scheme afforded to farmers. The entire process will be ‘smarter and fool-proof’ to enable quicker processing and settlement of farmers’ claims due to crop losses from natural disasters including flood and famine, the think tank added. Elaborating further, the authority explained blockchain technology will help ascertain if crop losses were indeed due to natural causes and will help negate disputes between insurance providers and farmers, alongside eliminating the need for middlemen altogether.

A New Report 🗞 _____________________________________________________ The Colorado Sun will use blockchain technology via Civil to store data, with initial funding via a grant from Civil, the Times reports. Once the new outlet is up-and-running, The Colorado Sun intends to be “a community-supported, journalist-owned team focused on investigative, explanatory and narrative journalism for a state in the midst of a massive evolution,” and will be completely ad-free, according to the company’s website. There is currently a Kickstarter campaign for the fledgling outlet, which hopes to raise $75,000 over the next month. A statement on the campaign page implies that the new outlet will be subscription based, as well as relying on “local supporters” to keep the platform free of advertising. Emerging media platforms like The Colorado Sun purportedly seek to address the problems of an ad-driven media economy, and shareholder interest-driven content. Civil Media Company — which the Times reports aims to open 1,000 publications in the U.S. by the end of the year — will operate on the Ethereum network using a decentralized governance model, powered by Civil’s upcoming native token CVL, that holds publications in the system to a particular set of ethical and professional standards. _____________________________________________________ 🔽Let us know what you think in the comments! #ClickTool _____________________________________________________ Read more at: https://cointelegraph.com/news/ex-denver-post-journalists-editors-launch-new-blockchain-powered-colorado-news-outlet

Russian Banks Including Crypto 🇷🇺 _____________________________________________________ Sberbank, the main state-owned bank responsible for processing government employee paychecks, and Alfa Bank, the largest private bank in the nation, plan to enter crypto trading with the help of the AddCapital investment fund, the National Settlement Depository and Group IB. "Our goal is to speed-up the recognition of the digital assets as legitimate financial assets as soon as possible," said Anton Rakhmanov, manager of Alfa Bank's private banking branch. The portfolio will include the six most popular cryptocurrencies, including bitcoin, bitcoin cash, ethereum and litecoin. The combination of coins will be revised four times a year, and their proportions will be balanced by a trading algorithm. The National Settlement Depository, which is a part of the Moscow Exchange Group, will act as the custodian. While testing the portfolio process will take roughly 45 days, the specific dates have not been disclosed. _____________________________________________________ 📌Do you think more banks will do the same? ⬇️Drop a comment and let us know what you think! #CoinGage _____________________________________________________ Read more at: https://www.coindesk.com/russias-largest-banks-plan-to-launch-crypto-portfolios/

Flash Transfer: Bitcoin Hodlers Dumped $30 Billion Since December : Read more: https://news.bitcoin.com/flash-transfer-bitcoin-hodlers-dumped-30-billion-since-december/ #cryptocurrency #btcnews