With poniedziałkowych events: China argue the establishment of a national platform crypto; Cambodia will create a national cryptocurrency; PayPal creates faster system for transactions in crypto currency; the Growth of partner Cocoa Blockchain; exchanges increase.
In China argue the establishment of a national platform crypto:
Member of the China Advisory Council suggested the establishment of a national exchange for crypto currency and other regulatory systems in one of the two annual sessions of the main bodies of legislative and consulting services in China, announced the local information centre Lie Yun Wang.
Wang Pengjie, a member of the Chinese people’s Political Consultative Conference (CPPCC), suggested that the Chinese people’s Bank (LBCh) and the Chinese Commission on Regulation of Securities (CSRC) should establish a system of approval of Blockchain and digital assets management.
Notes Pengjie appeared after the last row kryptowalutowych bans from China, from blocking foreign trading platforms, the introduction in September 2017. ban ICO.
Pengjie told about the growth of capitalization of digital assets, such as Ethereum, Bitcoin and Litecoin, noting that their market limits exceeded the value of the largest Chinese Internet service provider Tencent in January 2018. He also remembered about the rules of encrypting South Korea, and that the us Nasdaq is considering the possibility of trading with contracts Bitcoin.
Pengjie also mentioned the companies which cooperate with the Blockchain in China, saying that the lack of independent intellectual property rights, will not be beneficial for the financial security of China in the long term, as well as the lack of clarity regarding the legal status on crypto currency and also the lack of knowledge of consumers, which could easily lead to fraud, causing serious economic losses. Pengjie suggested the establishment of national platforms for trading digital assets based on the Blockchain, together adjustable LBCh and CSRC:
Thus, we can provide a formal channel for companies to raise funds and for individual investors to achieve capital growth.
CSRC signed a cooperation agreement with the financial Australia in November 2017, the purpose of which is to promote fintech innovation between the two countries. The ban on foreign exchanges kryptowalutowych in LBCh, as well as other limitations, ICO, partly led to the fact that Bitcoin fell below $ 7,000 in early February.
• PayPal creates faster system to deal in crypto currencies:
American giant on matters of payment PayPal – filed for a patent in the us Office of Patents and trademarks (USPTO), with the aim of increasing speed kryptowalutowych agreement. The patent describes an accelerated system that uses secondary keys personal to reduce the waiting time for transactions between consumers and akceptantami.
The creators of the patent, is specified as the Tian Cheng and sandy Lynn Godsey of San Jose in California, and the company to PayPal Inc. referred to as the applicant. According to the patent, the company PayPal is trying to solve the problem of available time of the transaction for transactions, crypto, which has led potential users cryptographic to that instead choose surgery traditional payment methods and digital currencies.
Such problems slowed the introduction of virtual currencies, despite their advantages.
– approve the provision of the patent.
In the description of the patent explains how the creation of additional portfolios with their own private keys will greatly accelerate operations, virtually eliminating the time in which the recipient has to wait to make sure that you will get paid in virtual currency. At the end of February 2018. CFO of PayPal, John Rhine, spoke positively about the fact that Bitcoin can become a daily payment method.
• Cambodia will create a national cryptocurrency:
Venezuela spent bitcoin Peter inspired dirty gray towels to create your own kryptowaluty, in accordance with local industry into the Future.
Press release regarding the upcoming ASEAN summit in 2018 BlockChain Summit, to be held in the state capital, Phnom Penh 7. March, informs readers that expect a significant announcement regarding the new payment instrument called Entapay.
According to organizers, the project after launch, will have the potential to replace the giants of payment systems such as VISA:
It is expected that Entapay will be the link between the fee for integrating the encrypted currency, and the real world. Has great potential to even replace VISA as a new payment method.
Peter Venezuela has many supporters and opponents, both in the country and abroad, since then, was launched in late February. The topic of the government and the system’s ability to attract funding, contrasted with the thin applause of some countries that in practice the phenomenon in the crypto currency.
Turkey and Iran quickly zasugerowały that also consider the use of crypto currency for a variety of purposes and to enhance income from investments and bypass Western sanctions, and Venezuela. Meanwhile, in Cambodia it was announced that the country will follow her example, spending tokens Entapay.
2. Feb local time, the Venezuelan government started selling digital currency called Peter. Its purpose is to help the country avoid economic sanctions of the West in the world – at the same time providing a new channel of economic development of the country, which suffers from serious inflation.
– declares a failure.
Following the lead of Venezuela and other countries have tried to issue legal digital tender, including Cambodia. In addition to the arena last week, a small Pacific nation of the Marshall Islands adopted its own cryptocurrency.
• Rise of the Cocoa branch of the Blockchain:
Kakao, the provider of services to a major Korean program mobile messaging KakaoTalk, will create a Blockchain branch, tentatively named Cocoa Blockchain and is also considering to start creating ICO.
Jae-Han sung, partner and Director of Development in the incubator for technology startups, Future Play, a representative of the new organization. Specific business plan for the branch of the Cocoa Blockchain will be introduced 20. March, according to information presented on the Huffington Post Korea.
Because currently it is illegal to conduct ICO with headquarters in South Korea, Korea Huffington Post writes that the ICO for Cocoa will be abroad, probably in Singapore and Hong Kong. Hypothetical «Cocoa Coin» can then be used as currency in various applications supplied by Cocoa, such as KakaoTalk, Cocoa and Cocoa Driver-Games.
• Exchanges increase:
Last day on the exchanges, brought the most benefits to investors. Bitcoin itself grew by 3.3%, and followed other violas. Ethereum is almost not changed its position because it recorded a growth rate of only 0.1%, while a very good result met Ripple to 13.3% up. Among the other leading cryptocurrencies, Ethereum fell least «classic», the price of which decreased by 5.5%.
The total capitalization of the market increased by 13 billion dollars and is currently 471 billion dollars.
source: bitcoinist.com, cointelegraph.com, coinmarketcap.com.