In its latest report released on Dec. 7, the European Union Blockchain Observatory and Forum (EUBOF) made a case for a blockchain-based digital identity system and digital versions of national currencies. The report was prepared by blockchain software technology firm ConsenSys AG on behalf of the EUBOF, and focuses on the analysis of what blockchain properties could be beneficial and advantageous for governments. The EUBOF suggests that governments should develop “user-controlled, ‘self-sovereign’ identity capabilities” to create secure, private, unique and verifiable identities, that can provide sufficient proof of identity without revealing more data than it is necessary for a transaction. The report recognizes that this has proven difficult to achieve with centralized technologies.
According to a recent survey,about one third of big businesses in Germany consider blockchain technology as fruitful as the Internet. With the addition of artificial intelligence (AI) and the Internet of things (IoT), blockchain technology is one of the current three areas of development with “tremendous potential,” the survey reports. Conducted by a German Federal Association focused on Information Technology, Telecommunications and New Media (Bitkom), the survey revealed that overall, 15 percent of German companies think blockchain will “change society and the economy as much as the Internet.” Larger companies, with 500 or more employees have probability which is twice as likely to hold that opinion, at 36 percent.
Binance, the world’s largest crypto exchange accorfing trading volumes, plans to launch its own blockchain“Binance Chain” in the “coming months,” as the company revealed in a tweet on Dec. 4. The new Binance-backed blockchain’s goal is to provide a foundation for creating new cryptocurrencies and Initial Coin Offering (ICO) tokens, as the company said in the tweet: “Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can easily issue tokens.”
A new blockchain-type network led by a Turing Award recipient and other academics has sealed $35 million in funding from big-name investors that include Sequoia Capital. The funding was reported by Fortune’s crypto-focused news section The Ledger on Dec. 4. Dr. Andrew Chi-Chih Yao, a Turing Award recipient who has earned the moniker of China’s “godfather of computer science,” is among those spearheading the Singapore-registered Conflux Foundation. The Turing Award is an annual $1 million prize given to a person that has exceeded in the field of computer science. The network, dubbed “Conflux,” has been designed to tackle what is perceived to be blockchain’s biggest hurdle — scalability — proclaiming its new testnet to be capable of processing.
Decentralized internet protocol TRON announced its plans to launch a blockchain gaming fund dubbed TRON Arcade in a press release shared with Cointelegraph Nov. 29. TRON Arcade, which the company says is designed to “empower developers,” will see investment totalling a giant $100 million over the next three years. The move is another long-term commitment from TRON, which acquired file sharing giant BitTorrent earlier this year. According to TRON CEO Justin Sun, the Arcade will “play a crucial role” in the firm’s expanding popularity.
Malaysia will enact regulations for cryptocurrency and Initial Coin Offerings (ICO) in Q1 2019. The finance minister Lim Guan Eng, who said Wednesday said the country’s regulator, the Securities Commission (SC), had updated him with a timeframe for the new rules. Malaysia has taken a piecemeal path to regulation of its domestic cryptocurrency industry, origibeginning the process in late 2017. meantime, Lim telling parliament thattities wishing to issue cryptocurrencies must consult the country’s central Bank Negara Malaysia. Lim telling parliament that entities wishing to issue cryptocurrencies must consult the country’s canara Bank Negara Malaysia. Malaysia has sought to foster its relationship with blockchain this year, November also seeing Education Ministry set up a university degree verification system using the technology
Cryptocurrenices are exteremely salubrious to promote the financial health of the economy. TransferWIse considers The rudimentary aspect of the blockchain to be completely incompatible with the way banks expect. Despite the extreme josh that Ripple has garnered, The CEO of TransferWise still thinks that blockchain is not worth it. He further explained “We’ve heard this dream many times from different people. However if you start digging into it, you realize that it may look great on paper, but in reality, to make use of it, it’s really hard. We’ve looked at different blockchain technologies, but yet we haven’t found anything which enables us to do what we do in a way that is cheaper or faster.”
The overhype for cryptocurrency sounds definitely like a jibe. But as you’ve guessed, it isn’t. A memorandum of understanding (MOU) was signed with Yonsei University to develop talent and expertise in blockchain techonology. The press release read that “Through this agreement, both sides will strengthen the expertise of the blockchain and education expertise, and discuss various cooperation opportunities to lead the blockchain field.” The new agreement, which is between the Seoul-based Digital Society Research Center at Yonsei University and the Tezos Korea Foundation, will look into providing “blockchain cooperation, education, training of Objective Calm and experts in the development of smart contracts.”
Startups is the nascent for profits. At that time, the investment in digital assets and virtual currencies like Bitcoin felt like the most valuable thing to deliberately possess by the instincts of some of the finest minds in the tech industry. But, things have turned out to be more different and is quite amusing. Investing in startups is more profitable than any other investments you could get your eyes on (Even cryptocurencies). As of current, the vision of mega-successful crypto companies like Coinbase and Binance is quite clear, to improve the adoption of digital assets and strengthen the infrastructure of the cryptocurrency exchange market.
There are so many pure chagrin, when cryptocurrencies partners with one of the finest and fail miserably. However, that is not the case here. OmiseGo and blockchain protocol Mass Vehicle Ledger (MVL) have partnered to research blockchain technology, according to a press release. MVL and OmiseGo is developing a Proof-of-Concept (POC) to ascertain whether its a decentralized OMG Network. The two companies have announced further technical and research cooperation. MVL received a taxi provider license from the Land Transport Authority of Singapore, allowing it to launch its new taxi booking service, TADA Taxi. They plan to create a blockchain-powered ride hailing app, adding that the service might also include deliveries.