January 8

“The South Korean Presidential Committee on the Fourth Industrial Revolution (PCFIR) has recommended the government to allow financial institutions to launch cryptocurrency-based financial products.

The committee recommended products such as Bitcoin (BTC) derivatives to be allowed as part of a strategy for the institutionalization of cryptocurrencies. The committee also noted that Bitcoin should be listed directly on the Korea Exchange — the country’s sole securities operator.

The Korean government has to gradually allow institutional investors to deal in crypto assets and promote over the counter (OTC) desks dedicated to institutional investors’ trade.”

PBoC reports that it is “progressing  smoothly” with its development of a government-backed digital currency.

As a form of digital legal tender — and unlike a private, decentralized cryptocurrency —  the CBDC will be controlled by the PBoC and 100% backed by the reserves commercial institutions pay to the institution.

Chinese internet giant Baidu launched on Monday a blockchain-based service for developers and small and medium-sized businesses to build decentralized applications.

To simplify the process to build applications, the new service allows customers to use smart contracts templates and other functional components designed to increase efficiency. 

The Xuperchain network has nearly 3.5 million users and has processed over 450 million transactions. The network has seven masternodes including Tsinghua University and streaming services giant iQiyi.”

See Also: Massive BSN blockchain network in China will go live in just three months

“The [soon to be] world’s biggest bitcoin mine is said to have signed up two top corporate customers, SBI Holdings and GMO.

The Japanese corporate giants will be renting mining capacity at the facility in Rockdale, Texas, recently put into construction by Whinstone Inc. The firms are to begin mining ‘within coming months.'”

“Bitcoin as an asset class has proven that mathematical scarcity can support an incredibly exciting asset. It’s not a means of payment. It just isn’t.

I’m not convinced that a council of self-interested companies can do money better than a decentralized system,’ Akin Sawyerr, a strategy lead on the Decred project, said on the Tuesday panel. ‘The only way to really get there is to empower the individuals to have some base-level sovereignty.'”

“Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency.

Advances in payment technologies do not address fundamental issues of what it takes to be a global reserve currency.”

“As of Tuesday, community members will be able to exchange the project’s ANT tokens for newly minted Aragon Network Juror (ANJ) tokens that will be used for staking on its dispute resolution platform.

The court system will handle ‘subjective disputes that require the judgment of human jurors.‘ Jurors deliberate and rule on the dispute, earning a token reward for doing so.”

We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange.

“The court has denied an application by the U.S. Securities and Exchange Commission (SEC) to ‘compel the production of defendant’s bank records.’ 

Telegram CEO Pavel Durov is expected to give a deposition in the case on Jan. 7 or 8, 2020.”

“The thin plastic wallet uses biometrics to temporarily unlock the device in order to display a QR code for deposits along with current crypto balances. AuthenTrend makes devices for bank security and this is its first cold crypto wallet.

The device, called the AT.Wallet, will be available in the U.S. in February.”