North Korea wants its own cryptocurrency
An analyst from Center for Financial Crime and Security concluded that the nation has the essential expertise and tools to establish its cryptocurrency. In terms of the motives behind the initiative, the specialists often largely produce negative situations — by bypassing the global sanctions and money laundering to speculation and funding the weapons of mass destruction.
Bypassing U.S. sanctions?
Pyongyang wants a digital currency to bypass international sanctions. Using its cryptocurrency, the DPRK might have the ability to access the global financial system.
Critics consider that an electronic currency would be a mean to bypass sanctions since they are more difficult to follow. North Korea would be able to trade with several countries around the world and evade the US sanctions.
As most analysts assert North Korea might be endorsed by other nations, including Iran, Russia or even Venezuela, that are already researching federal electronic assets to skip the U.S. sanctions.
Libra is “sensitive for society” and has no launch date
Facebook CEO Mark Zuckerberg seemed to demonstrate a rare display of dread as regulatory scrutiny enclosing the Libra stable coin intensifies.
He confessed that the job was “very sensitive for society” and said his business was decided to work through problems before launch. The billionaire also confessed this is a really different approach to that Facebook could have done five years ago.
The Calibra wallet mind David Marcus – that has faced a grilling facing Congress – claimed in a blog article that blockchain-based payment systems can tackle inefficiencies in existing payment methods.
New Balance will use the Cardano blockchain to allow its customers to verify the origins of an range of products
Cardano CEO Charles Hoskinson announced that New Balance will be using the Cardano blockchain to help authenticate its products.
Cardano and New Balance intend to roll out the program internationally. But, current plans don’t entail employing the ADA token in this pilot.
Hoskinson allegedly produced the partnership announcement throughout Cardano’s 2nd-anniversary event in the Cardano Summit at Bulgaria’s second-largest city, Plovdiv.
Blockchain, global supply chain and health insurance
Many organizations have already begun to implement blockchain technologies. Walmart is utilizing blockchain technologies to make a food traceability system based on the Linux Foundation’s Hyperledger Fabric.
In August, public venture blockchain stage VeChain partnered with Australian winemaker Penfolds to launch an instance of blockchain-encrypted wine bottles available, within its own Wine Traceability Platform initiative.
In March, Carrefour introduced its blockchain-powered solution for monitoring milk, which can be reported to ensure customers entire product traceability across the full distribution chain, from farmers’ fields to the shop shelves.
Government of Uzbekistan Triples Tax on Electricity for Crypto Miners
The authorities of the Republic of Uzbekistan have ordered a 300% increase in power tariffs for cryptocurrency miners.
The Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners have to pay three times more the present power tariffs.
This comes after the Aug. 22, 2019 decree from President Shavkat Mirziyoyev qualified “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and also to further inspire the logical use of electric energy by customers.
Uzbekistan’s approach to crypto and blockchain
Last September, Mirziyoyev ordered the establishment of a state blockchain development fund called the “Digital Trust.” The fund’s objective is to incorporate blockchain into different government jobs, including health care, education and ethnic locations. The organization is defined to be accountable for global investment from the Uzbek digital market.
Earlier the exact same month, a decree legalizing crypto trading, which became tax-free, and mining at the nation came to force. As stated by the legislation, foreign nationals can simply exchange cryptocurrencies from Uzbekistan by creating a subsidiary in the nation.
The legislation additionally specifies a minimum funding requirement of about $710,000 to create a crypto exchange. What’s more, crypto dealers won’t fall beneath Uzbek stock exchange regulations and will probably be relieved of the duty to pay taxes on trading earnings.
Bakkt, the first federally regulated platform for Bitcoin (BTC) futures trading, was launched
In August 2018, Intercontinental Exchange (ICE) declared its strategies to make a Bitcoin cryptocurrency exchange fully compliant with CFTC regulations.
Created by the worldwide trading giant Intercontinental Exchange (ICE) and counting a good portfolio of investors from Microsoft’s venture fund M12 to Starbucks, Bakkt delivers institutional traders something brand-new. The system’s value proposition is physically-settled BTC futures contracts, along with a solid custodial service accepted by the Commodity Futures Trading Commission (CFTC).
Assuming it is digital assets’ volatility and lack of regulatory defences that deter otherwise exceptionally interested institutional investors by moving large on BTC, Bakkt’s introduction is a major landmark on the deadline of crypto adoption, and several in the distance expected its introduction with fantastic excitement.
Unfortunately, Bakkt’s launch coincided with a massive recession in Bitcoin’s market price, causing some analysts to suspect a causal link between the two.
China needs more time for research before announcing a launching date for its digital currency
China does not have any particular launch date in mind for its digital currency. Its own central bank has stated comments contradicting previous statements.
The People’s Bank of China (PBoC) has denied Beijing is prepared to launch its fresh financial currency. According to Global Times, the PBoC “needs to research, test, evaluate and prevent risks.”
“China’s research and development of digital currency has achieved positive progress, but the country has no timetable to launch a digital currency so far,”
German government adopts the blockchain strategy
On Sept. 18, the German Federal Government released its finalized blockchain plan, pointing out 10 big principles to create concrete steps for unlocking the advantages made available by blockchain technologies by the end of 2021. The authority voiced its favourable stance towards blockchain, saying that the plan intends to encourage the nascent ecosystem in Germany.
At precisely the exact same time, the authorities explained it won’t be encouraging blockchain-powered stable coins from getting alternative currencies because of its danger to the German’s sovereignty. Included in the dangers posed by the coming Facebook’s cryptocurrency Libra, the record reads that the German authorities won’t depart the issuance of monies to private businesses.
On Sept. 17, German Finance Minister Olaf Scholz contended that lawmakers can’t accept parallel currencies like Libra, expressing optimism that Libra will be definitely rejected.
7-Eleven Stores Across the Philippines Now Sell Bitcoin
Cryptocurrency investment program Abra begins selling crypt in most 7-Eleven shops across the Philippines using a brand new partnership with payment chip ECPay.
Abra declared on Sept. 18 that the venture will bring crypto into 6,000 retail outlets across the Philippines, including all 7-Eleven shops. The aim of the venture is to make facilitate obtaining cryptocurrency simpler:
“Using new digital tools that open up financial access shouldn’t be hard. And they shouldn’t be complicated. Moving cash to crypto and other digital assets should be simple and fast. That’s why we are really excited to announce our new partnership.”
Turkey Announces Plans for National Blockchain Infrastructure
The Turkish government has announced plans to set a federal blockchain infrastructure to use distributed ledger technologies (DLT) in general public management.
The Ministry of Industry and Technology set out its own vision through its Strategy 2023 demonstration on Sept. 18 at Ankara.
Turkish institutions have been embracing blockchain technology in various spheres. In August, the Istanbul Blockchain and Innovation Center (BlockchainIST Center) was inaugurated at Bahçeşehir University. The centre’s director, Bora Erdamar, said BlockchainIST will be “the most important centre of research and development and innovation in Turkey in which scientific studies and publications are made in blockchain technologies.”
Earlier this month, Turkey’s Istanbul Clearing, Settlement and Custody Bank (Takasbank) announced a blockchain-based platform for trading physical gold. Takasbank’s new project aims to enable users to transfer physical gold stored at the Borsa Istanbul Stock Exchange.
Narvesen Stores and Lithuanian Press Kiosks to Sell BTC
According to the local news outlet, Delfi, Lithuanian convenience shops Narvesen and Lithuanian Press kiosks will begin selling Bitcoin (BTC). The stores will begin selling coupons which may be exchanged for BTC online. Narvesen and Lithuanian Press were picked due to their extensive network and positive attitude towards cryptocurrencies, which will grant access to this target market and offer the capacity to purchase vouchers fast.
Narvesen CEO Vigintas Bartaševičius stated:
“We currently have a network of nearly 60 Narvesen stores, where we are constantly looking to expand our selection of products and services. We recently offered a cash withdrawal service to our busy city customers, and now we are starting to sell Bitcoin vouchers, both cash and card. Bitcoin coupon sales are geared to meet the needs of a younger audience.”
No ID or other files will be asked to convert euros to Bitcoin obtained with the voucher. All a user needs is an email address and a Bitcoin wallet address.
Blockchain Being Used to Turn Ocean Plastic Waste Into Eco-Fabrics
Dutch firm Waste2Wear has set to create the world’s very first selection of recycled materials, made from sea plastics, that may be tracked via blockchain.
First disclosed on Aug. 20, the group has been specially developed by Waste2Wear in reaction to client demand for recycled materials used in cloths to be traceable. The business declared the initiation of the beta version of its own proprietary blockchain system for its new set on Aug. 22.
Waste2Wear stated plastic waste needs to adhere to a long journey from the sea to getting a finished textile product, which demands quite a few incremental data documents.
By applying blockchain technologies, the organization plans to produce the supply chain of sea plastic materials completely traceable.
The plastic used for Waste2Wear Ocean Fabrics was sourced out of the coastal and water regions of a little island near Shanghai. In collaboration with the regional government, Waste2Wear constructed a business model permitting local fishermen to make money by recovering plastics in the sea. In accordance with Waste2Wear, fishermen are collected over three tons of waste from the sea weekly.
Waste2Wear is not the first thing to explore applying blockchain technology for environmental purposes. On Sept. 4, Germany’s Free Democratic Party suggested paying crypto to anybody who removes carbon dioxide and other greenhouse gases from the air.