Bitcoin 

Government Official Expects To Mine 20% Of The World’s Bitcoin

A Bitcoin mining company owned by Russia’s internet ombudsman is planning to open a new facility and corner 20% of the international market. Internet ombudsman targets BTC As local financial news outlet RBC reported on Oct. 29, Russian Mining Company (RMC) plans to repurpose a metal factory in the country’s northern province of Karelia.  Closed due to US sanctions in 2018, the ex-Rusal facility could soon host a Bitcoin (BTC) mining farm so large it could account for one-fifth of global output. “Our idea consists of converting the factory and…

Read More
Bitcoin 

Pushing for Crypto Self-Regulation Amid Tightening Government Scrutiny

Self-regulation is once again a trending topic in the cryptocurrency landscape as major exchange platforms have announced the creation of self-regulated organizations (SROs) to achieve some standardization in digital currency governance. Government regulators across various jurisdictions continue to exert greater regulatory pressure on their local cryptocurrency industries. Even inter-governmental agencies like the Financial Action Task Force have in recent times put crypto governance at the forefront of their regulatory ambit. For digital currency stakeholders, many of these regulatory measures can negatively impact innovation in the industry. Some even warn that harsher laws…

Read More
Bitcoin 

People Will Choose A Currency That Government Can’t Control: Pompliano

The future will not bring competition between digital and non-digital currencies, but between monetary policies, according to Anthony Pompliano. Pompliano made his comments on CNBC’s Squawk Box, Sept. 27. Ultimately, he believes, people will choose Bitcoin, as a currency that governments can’t control. The U.S. government should tokenize the dollar immediately Pompliano was being questioned on how Bitcoin can remain a store of value once the dollar and other currencies have become digital. Firstly, he said that if he were the US government, he would tokenize the dollar immediately, noting…

Read More
Blockchain 

Asset Management Giant Wants Government Money Market Fund on Stellar

American asset management firm Franklin Templeton Investments has filed a preliminary prospectus with the United States Securities and Exchange Commission (SEC) for a government money market fund with a focus on blockchain-based shares. According to a Sept. 3 SEC filing, Franklin Templeton’s fund will make investments in a range of products such as U.S. government securities, repurchase agreements, and blockchain-based shares. However, the document notes that the fund will not invest in cryptocurrencies. Stellar network-recorded shares Franklin Templeton has chosen the Stellar network to record the ownership of the fund’s…

Read More
Blockchain 

A Friendly Blockchain Hub, but Is Government Policy Lacking?

It has been almost a decade since Dan Senor and Saul Singer penned “Start-Up Nation,” their ode to the Israeli tech sector. The book, which chronicles much of Israel’s success as a small but potent innovation force that spans countless industries, highlights the immense technological knowhow and seemingly fearless energy that supports the country’s thriving startup culture. Nearly a decade later, Israel has not missed a beat in terms of capitalizing on the biggest trends in technology.  From cybersecurity to artificial intelligence and machine learning, Israel’s legion of innovators is tackling problematic areas felt in…

Read More
Cryptocurrency 

Alibaba and Tencent all Set to Get First Chinese Government Cryptocurrency

Ever since cryptocurrencies first captured the global consciousness a few years ago, several institutions from around the world have expressed their willingness to issue crypto tokens of their own and the most recent one is the Chinese central bank. A few weeks ago, it emerged that People’s Bank of China was all set to issue its own cryptocurrency and now it has emerged that the cryptocurrency is going to be disbursed to seven entities in the country. The update was revealed by the former global head of financial strategy at…

Read More
Bitcoin 

Reasons Why US Government Won’t Ban Libra Cryptocurrency

Things are heating up for Libra: This week’s United States congressional hearings showed that many politicians are not convinced by the safety aspects of Facebook’s cryptocurrency project, as they grilled the social media giant on privacy- and trust-related issues. In response, Facebook keeps stressing Libra’s compliance with regulators and readiness to discuss possible frameworks. Meanwhile, a drafted bill titled “Keep Big Tech out of Finance” surfaced right before the testimonies before Congress took place. So, does the U.S. government have the power to terminate Libra — which is something Rep.…

Read More
Blockchain 

Brazilian State Launches Blockchain Platform for Government Contract Bids

In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12. The blockchain-based solution, called Online Bid Solution (SOL) was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech. According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with…

Read More
Blockchain 

Iranian Government to Cut Off Power to Crypto Mining Until Approval of New Energy Prices

The Iranian government will be cutting off power to crypto mining until new energy prices are approved, according to a report by local news agency Iran Daily on June 24. Mostafa Rajabi Mashhadi, an official at Iran’s Ministry of Energy, reportedly revealed that the country has seen a 7% spike of electricity consumption over a monthly period ending on June 21, 2019.  Rajabi emphasized the unusual nature of the spike, as opposed to similar time spans in the past years, revealing that the country’s power grid had evidently become unstable. …

Read More
Ethereum 

Phillipine Government Tech Department Signs Deal With Blockchain Firm

The Department of Information and Communications Technology (DICT) of the Philippine government has signed a Memorandum of Agreement (MoA) with U.S.-based blockchain firm Monsoon Blockchain Storage, according to a report by GMA News Online on June 19. The MoA reportedly stipulates that Monsoon is to act as a blockchain consultant and advisor to DICT, offering services such as cost-benefit and socio-economic analyses regarding blockchain solutions in the Philippines. DICT Acting Secretary Eliseo Rio Jr. commented on how the MoA will benefit the Philippines, saying it will “directly benefit our continuous…

Read More