Major Latin American Development Bank Pilots Blockchain for Land Registry

The Inter-American Development Bank (IADB) is implementing three different blockchain pilot projects to test if blockchain technology is able to solve some of the problems of land titling and registries. On Oct. 28, blockchain startup ChromaWay reported that it is collaborating with IADB on a two-year project in Bolivia, Peru and Paraguay on an initiative called “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry.” Chromaway, which has experience in tracking land titles in countries such as Sweden, Canada, India, and Australia, will run the pilots together with…

China to Be First to Launch Digital Currency, Says Think Tank Exec

An executive at a Chinese economics think tank has said that China’s central bank will be the first to launch a digital currency successfully. According to Chinese tech news outlet Pandaily, Huang Qifan, vice chairman of China Center for International Economic Exchanges (CCIEE), confidently believes that China’s central bank will win the race for the first central bank digital currency (CBDC).  A digital renminbi to replace SWIFT Qifan’s remarks came at the Inaugural Bund Financial Summit of 2019 in Shanghai. Per the report, Qifan was dissatisfied with current dependence on…

China Has 700+ Blockchain Companies, According to Industry Study

China Electronic Information Industry Development (CCID) announced on Oct. 27 that there are over 700 blockchain enterprises in China, with over 500 relevant investments reported. China sees aggressive blockchain development According to a collective study conducted on Oct. 24 by the Central Committee of the Political Bureau of the Communist Party of China, of the aforementioned 700 blockchain enterprises, 83 are research institutions and 34 are banks. Furthermore, over 500 investment and financing events took place in the domestic blockchain industry.  The data also reveals that 12 blockchain policies have…

Bakkt Teases Launch of Consumer Payments App Scheduled for 2020

Cryptocurrency custody and futures trading platform Bakkt has announced its coming entry into mobile payments with a consumer app. Per an Oct. 28 blog post from the company, Bakkt will follow its recent successes in trading Bitcoin (BTC) futures with a consumer app. According to the company, the app will help consumers “unlock the value of digital assets, as well as ways in which they can transact or track them.” Starbucks on board Though the announcement is vague on the specifics of the app’s functionalities, coffee empire Starbucks is the…

Binance Lists Blockstack for $250,000 ‘Long-Term Payment’

A United States Securities and Exchange Commission (SEC) filing reveals that major cryptocurrency exchange Binance received a $250,000 “long-term payment” to keep Blockstack (STX) listed for one year. Blockstack’s SEC filing reveals that Binance received 833,333 STX, which at the $0.30 token valuation provided by the company is equivalent to $250,000. The document also shows that the company intends to pay Binance more: “[Blockstack] will pay three additional incremental payments of 833,333 each, on the first, second and third anniversaries of the Services Agreement’s effective date provided the Stacks Token…

How Lebanon’s Economic Crisis Highlights Bitcoin’s Limitations

Lebanon is far from a poster child for cryptocurrency adoption. News of Lebanese banks shuttering to prevent a bank run was met with predictable enthusiasm from the global bitcoin commentariat. People in Lebanon can no longer send foreign currencies, mainly dollars and euros, abroad. Further, due to heavily restricted banking access and limited liquidity provided by established grassroots networks, most Lebanese civilians also struggle to acquire bitcoin. Long-time bitcoiner Ali Askar, currently on the ground in Lebanon, told CoinDesk a few Telegram and WhatsApp groups for local traders have nearly…

Libra Might Become Unrecognizable by Navigating Regulatory Concerns

Amid the regulatory storm facing Libra, the project’s hierarchy is looking to change one important detail of the payment system: using fiat-pegged stablecoins rather than a token supported by a basket of national currencies. The Libra Association says such considerations are part of efforts to create a more agile payment platform. Meanwhile, the furor over the controversial Libra has begun to take a more political undertone, both within and outside the United States. Arguments for and against the project now seem to include issues surrounding the trade war between the U.S. and China. In…

New Bitcoin Stock-to-Flow Chart Shows Bearish Periods Precede Halvings

Since Bitcoin’s (BTC) creation in 2009, the digital asset has undergone a halving event every four years, cutting the number of coins constantly entering the ecosystem in half, making it a deflationary asset.  Based on its hard-coded scarcity, and in line with its halvings, Bitcoin has risen dramatically in price over the years, giving the asset a high stock-to-flow ratio. When graphically depicted with deviation bands, Bitcoin historically has tested band levels below its median prior to halving years. Crypto analyst PlanB wrote an article in March 2019, applying Bitcoin…

Hyperledger Challenges Quorum for Enterprise Ethereum Crown

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, the Linux-like greenhouse for growing open-source blockchains. As such, Besu has the clout to potentially eclipse all the other enterprise versions of ethereum, including megabank JPMorgan’s Quorum. On the face of it, there’s plenty of Kumbaya refrains being sung around the ethereum campfire, with engineers at Quorum helping sponsor the inclusion of Besu into Hyperledger.  But…