China to Test Digital Yuan on Food Delivery Platform With 435 Million Users

The People’s Bank of China (PBoC) is planning to add the Tencent-backed food delivery giant Meituan Dianping to its list of platforms that will test real-world use cases of the digital yuan. Meituan Dianping is a Bejing-based food delivery platform that currently boasts of more than 435 million active users and billions of dollars of daily transactions. This creates a huge opportunity for the mass adoption of the digital yuan, which is also referred to as the Digital Currency Electronic Payment or DCEP. Unnamed sources told Bloomberg that Meituan had…

This Platform Automates DeFi Yield Farming for Its Users

A new decentralized finance platform is set to ride the yield farming wave by automating the process of finding the most efficient opportunities for its users. The platform, Rari Capital, automatically moves user funds to the highest yield platform. At launch, Rari plays only with the yield differences between Compound and dYdX, constantly rebalancing between one and the other as their dynamic interest rates change.  Rari only supports yield on stablecoins, but an integration with 0x allows users to automatically sell their cryptocurrency when depositing on the platform. Once deposited,…

Singapore’s Blockchain Payments Platform Ready for Commercial Launch

Singapore authorities announced today that their blockchain payments project, Project Ubin, is complete and ready for commercial launch.  The Monetary Authority of Singapore, or MAS, first undertook Project Ubin in 2017 with plans to first develop a digitized Singapore dollar (SGD). The next steps involved exploring blockchain and distributed ledger technology to build a system for the clearing and settlement of payments and securities using digital SGD. For the final phase of the project, MAS worked in collaboration with the Singapore-based investment company Temasek and the American investment bank JPMorgan. …

Coinbase CEO Defends Licensing of Analytics Platform to Gov’t Agencies

Coinbase defended the licensing of its analytics software saying if people really wanted privacy, privacy coins were around. Coinbase CEO Brian Armstrong took to Twitter to talk about Coinbase Analytics and the company’s practice of licensing out the platform, explaining why crypto exchanges must have some sort of analytics software to comply with banking regulations. “Exchanges that maintain connections into the existing financial system (i.e. ability to connect your bank account, do wires, etc so you can convert fiat to crypto) need to follow AML laws, and this often includes…

Blockchain Platform Targets Change in Agriculture & Fishing Industries

Release, a blockchain-powered social commerce platform, has announced on July 12 that its platform is ready to transform the agriculture and fishing industry. The agriculture and fishery industries have a huge potential to scale at a global level if issues such as logistical efficiency and price fairness can be solved. Release has reportedly developed a social commerce architecture that will help in transforming the global agriculture and fisheries logistics. It explained that: “Sellers will be able to decide on the spot prices of freshly picked vegetables, fruits, fishes, shellfishes, etc.…

Tech Mahindra Employs IBM Blockchain in New Platform to Combat Digital Piracy

Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, has launched a new blockchain-based digital contracts and rights platform for the media and entertainment industry. Developed using IBM’s blockchain platform, which leverages the open-source Hyperledger Fabric protocol, the system aims to help producers and content creators efficiently track their revenue, royalty payments and digital rights. Dubbed the “Blockchain Based Contracts and Rights Management System” (bCRMS), Tech Mahindra has pitched the platform as a key tool for preventing digital piracy. In a statement on July 9, Tech Mahindra’s blockchain and…

DeFi Lending Platform Enables No-Collateral Loans With New Feature

The Aave lending protocol recently launched a new feature called Credit Delegation. This feature allows users to provide peer-to-peer loans with no formal collateral requirements. Stani Kulechov, the CEO of Aave, explained via Twitter how the system will work. The Credit Delegation feature relies on peers to enter into agreements between each other that allow borrowers to use the lender’s credit line freely. The two parties must enter into a formal legal agreement that would define terms such as repayment schedule, interest and other necessary conditions. Through an integration with…

Kraken-Owned Trading Platform Gets Monopoly on European Crypto Derivatives

Key Takeaways The Multilateral Trading Facility (MTF) license was granted to Kraken-owned Crypto Facilities by the UK’s Financial Conduct Authority Institutional investors are state-mandated to limit their trading activities to regulated venues Crypto Facilities will enjoy a monopoly on the European market until another MTF is allocated to a crypto derivatives marketplace Share this article Crypto Facilities, a derivatives market owned by Kraken, will enjoy a temporary monopoly on the European crypto derivatives market after receiving the go-ahead from regulators. Crypto Facilities received the first “multilateral trading facility” license, or…

Gibraltar Watchdog Grants License to Belarusian Crypto Platform

The Gibraltar Financial Services Commission, or GFSC, issued a new distributed ledger technology license to the Belarus-based cryptocurrency platform, Currency.com, on July 6. According to the announcement, the platform will be allowed to use DLT to store or transmit value belonging to others in connection with the provision of dealer and custody services thanks to the license granted by the GFSC. Jonathan Squires, CEO of Currency.com, gave some insight into the company’s intentions for the license: “Our operations in Gibraltar are part of our commitment to expanding across the globe,…

Blockchain Travel Platform Lost 90% of Booking Volumes Due to COVID-19

The global travel industry ground to a standstill after governments worldwide announced strict lockdowns to prevent the spread of COVID-19.  At the Unitize virtual blockchain conference on July 6, Juan Otero, the co-founder and CEO of the Binance-backed online crypto travel agency Travala, said that the platform experienced a steep drop in booking volumes. Otero stated that till February, Travala was seeing exponential growth with a consistent rise in booking volumes. But as the coronavirus pandemic reached crisis levels, the firm saw an 80–90% drop in total bookings within a…