The maker of Nike received a patent to tokenize shoes on the Ethereum blockchain. According to the patent, Nike intends to use the Ethereum blockchain to generate a unique digital asset for limited-edition footwear. Each digital asset represents ERC-721 token with a unique footwear ID code and records ownership record...
JPMorgan’s Interbank Information Network, a blockchain-based payment system has seen interest from over 80 Japanese banks. Interbank Information Network (IIN) executive director, Daizaburo Sanai said in an interview with Bloomberg. That’s the highest representation from any single country in the IIN extensive network of banks. Having launched in 2017, today...
The South Korean government plans to tax capital gains on cryptocurrency. According to the local news outlet- The Korea Times, the Ministry of Economy and Finance is pushing for the crypto tax bill to be implemented by next year. “Related discussions have been taking place. The [new] bill will be...
Until now, cryptocurrencies have been additions, rather than substitutes, to the global inventory of money. “Over the next decade, this may change”, according to Deutsche Bank research report. Published this week, the bank predicts that the forces that have held the current fiat system together now look fragile and they...
As per the recent report from brokerage firm Charles Schwab, Millennials hold more bitcoin-tied investment products in their investment portfolio than Netflix, Microsoft stock. The analysis shows of the top 10 investment products, Grayscale’s Bitcoin Trust (GBTC) investment product is the 5th popular choice among millennials. Millennials hold 1.84% of...
[inlinetweet]The US Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin don’t see a need for the digital dollar.[/inlinetweet] In a Financial Services Committee hearing held on 5th Dec, The US Treasury Secretary Steven Mnuchin said that- “Chair Powell and I have discussed this at length- we both agree...
France to experiment with central bank-issued digital currency in 2020. In a conference hosted by ACPR, the Bank of France Governor Francois Villeroy de Galhau said that the central bank will start the test soon for the digital currency. The results of the experiment will be shared before the end...
Big tech companies are swiftly planning to move to the financial sector. With Google’s checking accounts to Facebook’s digital currency, the traditional banking system will face direct competition with the tech companies. They may lose ground to the tech companies due to falling behind on digital innovation. However, given the...
Reserve Bank of South Africa is planning to introduce a new rule regarding the use of crypto, in a bid to stop their use to evade currency controls. The rules are expected to be put in place by Q1 2020. Local banks such as FNB have already started clamping down...
Uttar Pradesh, a state in northern India is testing a blockchain-enabled peer-to-peer solar energy trading platform. The blockchain start-up, Power Ledger in partnership with India Smart Grid Forum (ISGF) and state utilities will run the pilot in few selected government buildings in the Lucknow city with rooftop solar panels installed....
