#CryptoCorner: YouTube (Nasdaq: $GOOGL) Admits to Error in #Crypto Ban, Canaan (Nasdaq: $CAN) to Debut New Mining Machines in Q1 2020, Bank of Korea to Explore CBDCs and Crypto and Bahamas to Pilot CBDC
#CryptoCorner: YouTube (Nasdaq: $GOOGL)
Admits to Error in #Crypto Ban, Canaan (Nasdaq: $CAN) to Debut New Mining
Machines in Q1 2020, Bank of Korea to Explore CBDCs and Crypto and Bahamas to
Pilot CBDC
Point
Roberts, WA, Delta BC December 27, 2019 - Investorideas.com, a leader in crypto
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discussed: (NasdaqGS:GOOGL) (NasdaqGM:CAN)
An article from Decrypt reports
that Google’s (NasdaqGS:GOOGL) YouTube has conceded to have
made a mistake in banning
crypto-related channels in the past week. A spokesman from YouTube said:
"With
the massive volume of videos on our site, sometimes we make the wrong call.
When it's brought to our attention that a video has been removed mistakenly, we
act quickly to reinstate it."
Though the spokesman went on to say
that all affected videos were "reinstated" without "any penalty
to the channel”, the Decrypt article identifies several channels that remain
banned.
Cointelegraph reports
that Canaan, Inc. (NasdaqGM:CAN), a manufacturer of mining
application-specific integrated circuits (ASICs), is set to launch new and
improved mining machines with 5-nanometer chips in the first quarter of 2020.
An excerpt from the article outlines the significance of this development:
As the
features in chips become smaller, it becomes possible to fit more transistors
in a silicon die of the same size. At the same time, the electric current has
to travel less distance in the circuit to perform a calculation, which means
that efficiency is improved and the amount of heat is decreased when the
features are smaller.
Bank of Korea, the central bank of
South Korea, revealed its intentions to explore CBDC (central bank digital
currency) and crypto in a brief published today titled, Monetary Policy for 2020. An
excerpt reads:
The Bank
will continue to build on the research into new innovations such as distributed
ledger technology, crypto assets, and CBDC, and play an active role as overseer
to enhance security of the settlement systems. The Bank will organize a task
force dedicated to CBDC research and recruit additional experts.
The Central Bank of the Bahamas announced that it
will debut “a digital version of the Bahamian dollar, starting with a pilot
phase in Exuma in December 2019, and extending in the first half of 2020 to
Abaco”. The initiative is being called “Project Sand Dollar” as “sand dollar”
is the proposed name of the CBDC itself. An excerpt from the press release
reads:
Most of
the benefits of introducing a digital currency are still unquantifiable.
However, they include a potential suppression of economic costs associated with
cash usage, and benefits to the Government from improved expenditure and tax
administration systems. It is expected that the Government, as participant and
user, would be a strong promoter of digital payments adoption, alongside
non-bank payment services providers as the initial lead intermediaries in this
space.
Sam Mowers, Investorideas
For investors
following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain
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