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Coinbase Sold its Blockchain Based Data Analytics Software to the US Secret Service
Cryptocurrency exchange Coinbase has sold its blockchain-based data analytics software to the United States Secret Service. The analytics software was made available to the secret service in a contract worth $183,750 and billed to span through May 9, 2024.
India Considers Banning Crypto Trading Which Could Impact 1.7 Million Dependent Local Traders
The federal cabinet in India is expected to discuss a new bill that could once again ban cryptocurrency trading in the nation.
Chinese Province Eyes Blockchain-Powered Points Reward System to Boost Tourism
Hainan, a southern island province of China, is developing a blockchain-enabled points reward program aimed at promoting tourism in the region.
Standard Chartered's Planned Hong Kong Virtual Bank Announced as Mox
Mox is the new virtual bank in Hong Kong to be launched by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launching later this year, the mission of Mox is to help everyone in Hong Kong grow – “your money, your world, your possibilities.”
Huawei and Beijing Municipal Government Develop Blockchain-Based Data Directory System
Telecoms giant Huawei has joined hands with the Beijing Municipal Government to create a blockchain-powered directory system. It is aimed at addressing the headache of weak applications, scattered coordination, and data sharing in various departments.
China to Launch Its Own Digital Currency Later This Year
In order to remain ahead in the global competition, China plans to launch its own digital currency known as Digital Currency Electronic Payment (DCEP). The digital currency will stimulate daily banking activities like deposits, payments, and withdrawals from the digital wallet. Crypto news website Coin Journal shows that the People’s Bank of China, China’s central bank has initiated the efforts to roll out its very own digital currency. It is an effort aimed at staying ahead among all the central banks worldwide as well as preserving financial sovereignty.
United States Financial Regulators Sign Onto the Global Financial Innovation Network
In a joint report released by the US Securities and Exchange Commission on 24th October 2019, four US financial watchdogs have joined the Global Financial Innovation Network (GFIN).
China Unveils Blockchain Services Network Aimed to Build Ecosystem Along with Hyperledger, Ethereum and EOS
Hyperledger Fabric, Ethereum, EOS, ChainSQL, WeBank’s FISCO BCOS, and Baidu’s Xuperchain are also planned to be added to the “ecosystem play,” and “internet environment,” as explained by Zhiguang Shan, the Chairman of the BSN’s Development Association. This network of blockchains will be available for those who are interested to take part in it, including small to medium-sized businesses.
Japanese Financial Giant SBI Group to Borrow from Bitcoin Holders at Annual Rate of 1%
SBI Group has rolled out a cryptocurrency rental service dubbed “VC TRADE LENDING” aimed at borrowing Bitcoin from customers in return for 1% annual interest.
IBM and KAYA&KATO Leverage Blockchain to Trace Fabric Origins
Tech giant IBM has teamed up with KAYA&KATO, a textile manufacturer of workwear and uniforms, in developing a blockchain network aimed at revamping the fashion industry.
Ethereum Network Planned Hard Fork Delayed Due to Late Acceptance of EIPS
The blockchain infrastructure company running the core of the Ethereum network has delayed the planned hard fork launch until September 6th.
China Passes Civil Code Which Will Allow its Citizens to Inherit Cryptocurrency
At the Thirteenth National People’s Congress held in Beijing China, the parliament passed a new civil code that protects the civil rights of inheritance, marriage, property, personality, and contract infringement. According to Lixin Yang, a professor at Renmin University of China, the civil code states that “When a natural person dies, the legacy is the personal legal property left by she/he.” Personal legal property in this case also means “internet property” including virtual currencies. Chinese citizens will be able to leave their cryptocurrency and virtual assets to their heirs, coming into effect on January 1, 2021.