“The South Korean central bank said Monday it had reevaluated the CBDC proposal after observing that other developed nations, including neighboring Japan and its close ally the U.S., were moving forward with their own digital currency plans faster than anticipated.
Abandoning their wait-and-see approach, BOK officials have now pushed the central bank into a 22-month pilot program – which started this month – to assess the technical and legal ramifications of replacing physical cash with a digital equivalent.”
See Also: China Will ‘Undoubtedly’ Pursue Digital Yuan, Central Bank Says
See Also: Coronavirus Encourages CBDC Developments: Deutsche Bank Strategist
“The bank had been struggling with ‘longstanding capital and asset quality issues’ since 2015, said the FDIC in its press release. MVB Bank bought up most of the bank’s assets, but the closure will still cost the FDIC $46.8 million.
Last week, the FDIC put out an infomercial advising people to not withdraw all their cash from banks amid the coronavirus pandemic.”
“The post lists three criteria for accounts that have been temporarily frozen, all relating to the March 20 hard fork. It should be noted that when the new Hive blockchain was launched, all steem accounts were carried over to the new chain.
Seems like it’s par for the course for Justin Sun; I’m not really surprised. This is why we don’t hold TRON in the BlockTrades portfolio. I often wonder why anyone invests in it.
This is just another chapter in the Kindergarten Play book. I can not imagine exchanges not considering delisting Steem.
It’s important to note that Steem’s software does not provide for permissionless participation in consensus. It uses DPoS, which allows a small subset of nodes to govern a blockchain.”
See Also: Poloniex’s New Tron-Powered IEO Platform Moves Exchange Closer to Justin Sun’s Orbit
“Most of the fundraising in the cryptocurrency space shifted from the Americas to Europe, the Middle East, and Africa (EMEA), and the Asia Pacific regions (APAC), according to a recent report by Big Four auditing firm PwC.
During 2019, fundraising efforts in the crypto space obtained 18% less funding, while funds in mergers and acquisitions (M&As) in the space decreased by 40%. Overall, PwC states that the cryptocurrency industry continued to mature in 2019 as funds started moving to later-stage companies.
2019 saw APAC and EMEA play a bigger role in the global crypto M&A and fundraising space. We expect to see this trend to continue in 2020.“
“Collapsed supply and demand, transport frictions, labor shortages and, in some cases, early signs of protectionism, are making it increasingly tough for suppliers to keep goods and services flowing across global value chains.
Authors of an April 6 report for the World Economic Forum argue that blockchain technology is key to mitigating the impact of such disruptions. [Researchers] claim the technology can provide the supply chain visibility that is critical, both during times of normal production and of crisis.
Suppliers can audit their data-sharing permissions directly on their own blockchain node. At the same time, their data can be securely distributed to others in the blockchain network.”
“It’s possible digital assets are the only asset class not actually affected by a recession.
Just as your Delta SkyMiles and Target gift cards don’t go away or lose value during an economic crisis, neither do the intrinsic value of digital assets. These tokens are claims on future services, not claims on revenue, profit or assets. As a result, most of these digital projects and companies appear to be immune to demand shocks and supply shocks.
One day we may even say ‘digital assets are recession-proof.‘“
“The United States Government Accountability Office’s (GAO) is the supreme audit institution of the U.S. government and provides evaluation and investigative services for Congress.
The agency hopes to ‘determine the most promising solutions and approaches which, if successful, could profoundly change the business of audit, investigations, and program evaluation for the future GAO.'”
“The Barbados-based firm announced its intentions to build out a Polkadot parachain based on Parity Technologies’ Substrate network. The move is part of Shyft’s larger effort to create a universal standard for cryptocurrency regulatory compliance.
Once fully deployed, the Shyft chain will enable Polkadot users to bridge identities from other networks, and from DApps built on other networks, to all Polkadot parachains.”
“A group of researchers has devised a blockchain-based mechanism to perform legal functions in a so-called “digital court.” The project aims to settle legal disputes without the need for a “costly legal process.”
The court algorithmically aggregates the parties’ opinions and judges who violated their agreement. If the digital court judges that a party violated the agreement, the party is fined by withholding a deposit made during the initial agreement.”
See Also: Revised Crypto Laws in Japan to be Enforced Starting May 1