#CryptoCorner: Iran Details National #Cryptocurrency, Chinese Companies Join #Crypto Crackdown, India’s Central Bank Creates #Blockchain Unit and North Korea to Host Blockchain Conference
#CryptoCorner:
Iran
Details National #Cryptocurrency, Chinese Companies Join #Crypto Crackdown,
India’s Central Bank Creates #Blockchain Unit and North Korea to Host
Blockchain Conference
Stocks discussed: (OTC:$TCEHY) (NYSE: $BABA) (NasdaqGS: $BIDU)
August 27th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD)
and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH) and Genesis
Exchange and Wallet App
Point Roberts, WA, Delta BC August 27, 2018 - Investorideas.com,
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August 27, 2018 Crypto Corner
Weekend Market Growth, Iran Details National Cryptocurrency, Chinese
Companies Join Crypto Crackdown, India’s Central Bank Creates Blockchain Unit
and North Korea to Host Blockchain Conference
Stocks discussed: (OTC:TCEHY) (NYSE:BABA) (NasdaqGS:BIDU)
Over the weekend the crypto market saw some very
modest growth in the wake of the U.S. Securities and Exchange Commission’s
(SEC) decision to review their rejection of nine exchange-traded
funds last week. According to data from CoinMarketCap, the total market capitalization at press time is $218 billion USD, up
about $8 billion USD from Friday’s Crypto Corner. Bitcoin (BTC) is trading at
about $6750 USD, $220 USD higher than at the weekend’s outset.
The Islamic Republic of Iran has revealed details
of its national cryptocurrency, according to a report from IBENA. The digital currency is designed and developed by
an affiliate body of Iran’s central bank, the Informatics Services Corporations
(ISC) and is based on Hyper-ledger
Fabric Platform technology. The cryptocurrency cannot be mined, the blockchain
is private and the volume of issue is decided by the central bank.
As the Chinese
state cracks down on the crypto space, many of the country’s biggest companies
are following suit. The South China Morning Post reports that Tencent (OTC:TCEHY), Alibaba (NYSE:BABA) and Baidu (NasdaqGS:BIDU) have all taken measures to shut
down activities involving crypto trading. From the article:
Tencent said
in a statement that the company will ban cryptocurrency trading on its social
app WeChat through measures including real-time monitoring of daily
transactions and block suspicious transactions when necessary.
Similarly,
Alibaba-controlled Ant Financial said that it will restrict or ban accounts on
its internet-payment platform Alipay when they are found to involve
cryptocurrency trades.
A report in
the Economic Times indicates that India’s central bank, the Reserve Bank of
India (RBI), has created a unit devoted to the study of crypto, blockchain and
artificial intelligence. In addition to research, the new body may eventually
be involved in developing regulation and overseeing new technologies in the
space. A source familiar with RBI’s plans told the Economic Times:
“As a
regulator, the RBI also has to explore new emerging areas to check what can be
adopted and what cannot. A central bank has to be on top to create regulations.
This new unit is on an experimental basis and will evolve as time passes.”
The Straits Times reports that North Korea will host an international
blockchain conference over two days on October 1 and 2. The news, which would
perhaps have been unfathomable a year ago, was first reported on Radio Free
Asia on August 25. The conference seeks to bring together experts from around
the world who will meet up with North Korean business leaders after the two-day
event.
Sam Mowers, Investorideas
Crypto Corner Sponsors:
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