October 28

The company was working on developing an app to let consumers use digital assets when purchasing goods from merchants.

We’ll be launching a consumer app to make it easy for consumers to discover and unlock the value of digital assets, as well as ways in which they can transact or track them.

Monday’s announcement said Starbucks will be Bakkt’s first launch partner when the app goes live sometime in the first half of 2020. He hinted that the app might support more than just bitcoin.

A key feature of the model we’ve designed is to support a superset of digital assets. Our vision is to provide a consumer platform for managing a digital asset portfolio.”

“As President Xi Jinping called on his countrymen to seize opportunities in distributed ledger technology, China’s industry heavyweights were already leading hundreds of enterprise blockchain projects.

The filings reveal some of the largest Chinese banks and tech companies working with the technology. In total, [such] enterprise blockchain projects could change the landscape of the Chinese technology industry.

Chinese media reported the start of a test phase of a Union Pay project, partnered with five other institutions, including China Mobile and the State Information Center, to launch the Blockchain Services Network (BSN), a nationwide blockchain infrastructure project envisioned to be the ‘Android or Apple’s IOS system‘ for the blockchain. BSN is already being tested at 55 cities in China, plus Singapore.

There were also many examples that the government is directly using blockchain to provide services, from legal arbitration, tax collection to daily management of a compensation tracking platform for relocated farmers.”

See Also: Chinese Central Bank Official Calls for Commercial Bank Blockchain Adoption
See Also: China Has 700+ Blockchain Companies

“China’s Communist Party (CPC) is taking its leader’s support for blockchain to heart. The CPC released a decentralized app (dapp) for members to attest their loyalty on a blockchain.

[Interestingly], the technology behind the dapp was developed by a Beijing-based company called Lingzhu Technology. In fact, this company issued a little-known cryptocurrency dubbed OFCoin and got it listed on exchanges like OKEx and CoinMex early in 2018. OFCoin’s price jumped by as much as 90 percent to $0.000326 on Saturday just hours after the CPC released the dapp and said that Lingzhu Technology is behind it.

[Similarly], several major Chinese-born cryptos, including  Qtum, Vechain, Ontology, NEO, Tron and Bytom, were enjoying strong gains on Monday.”

Sun called upon emerging market governments to consider curbing Libra’s advance, especially if the stablecoin project would threaten a state’s capital controls or enable illegal transfers.

Libra must abide by international foreign exchange regulations or ‘it should be banned.'”

See Also: Ex-Official Trolls Libra, Says China Likely to Issue Digital Currency First

“There’s a seismic shift taking place in the enterprise blockchain space. It’s called Besu.

A software client designed from scratch to connect businesses with the public ethereum network, Besu enjoys the support of Hyperledger. As such, Besu has the clout to potentially eclipse all the other enterprise versions of ethereum, including megabank JPMorgan’s Quorum.

Besu has very serious enterprise-grade support agreement which is easy to access. The Quorum team is very focused on JPMorgan projects, so we are not finding the same level of response from them.

Besu’s overarching selling point, said Khan, is its compatibility with the public ethereum chain. ‘Our Holy Grail is finding secure, scalable ways for enterprises to connect to mainnet.'”

The country’s central bank has opted to reduce the amount of dollars a saver can purchase each month from $10,000 to just $200. In a statement, the Central Bank of Argentina (BCRA) said the reduced dollar access would last for two months. 

A drop of 98%, the stringent new rules appeared on Sunday, the day voters elected a new president. The previous $10,000 limit itself came into being as a result of capital controls in September. 

It’s not your money if you need permission to use it.”

“Yosef, aka Oz Joseph, has been indicted on conspiracy to commit bank fraud, bank fraud and conspiracy to operate an unlicensed money transmitting business. As a result of the indictment, Yosef will forfeit listed assets.

On Thursday, Crypto Capital president Ivan Manuel Molina Lee was extradited to Poland by Polish authorities on charges of money laundering.”

“Topco Associates, the largest American retail food group purchasing organization, will pilot Mastercard’s blockchain tech in its operations. Topco will use the platform to trace the provenance of produce, meat and seafood. 

Walmart began using blockchain tech to track Indian shrimp supply chains earlier this month. In August, Switzerland’s largest supermarket chain and retailer Migros announced that it would use TE-Food’s blockchain-based food traceability system for its products.”

“The IADB is the largest source of development financing for Latin America and the Caribbean. Next month, the global organization will embark on a two-year project to put land registration and lending in three Latin American countries on a blockchain.

The organization is working with blockchain startup ChromaWay and Bolivian IT services company Jalasoft to pilot the technology in Bolivia, Peru and Paraguay.

“The exchange’s users will be able to deposit, withdraw and trade both assets starting Oct. 29. Kraken will roll out trading pairs between OMG and PAXG and Bitcoin (BTC) and Ether (ETH), as well as with fiat currencies such as the euro and the U.S. dollar.”

How Lebanon’s Economic Crisis Highlights Bitcoin’s Limitations

“It [bitcoin] could help them, perhaps, if they were sitting at home with 24 hours worth of electricity and internet, and they could work online to get paid for their online work. That’s a utopian scenario.

Another problem is access. Most bitcoin exchanges don’t serve Lebanese users.

People and communities suffer [from sanctions] while the elite find alternatives.”

Bounties Network in Action

“As more sensitive data gets put on blockchains, different organizations and industry players are developing methods to verify the provenance and reliability of recorded data. 

The project, based on code from Dell Technologies, aims to build on the concept of a Data Confidence Fabric, which establishes measurable trust and confidence in data coming from multiple sources. The system would score data based on its trustworthiness and reliability.