22 - 29 October summary of news in the world of cryptocurrency
Russia will regulate cryptocurrency by the end of July 2018
Earlier there were unofficial rumors that Vladimir Putin himself spoke on the cryptocurrency. The Russian president has approved instructions for the rules of regulation concerning not only cryptocurrency, but broadly understood digital technologies in the field of finance. The crypto mining, which was once heavily repressed by the local authorities, will also be regulated.
The government has also cooperate with the Central Bank of the Russian Federation on issues such as the clarification of concepts (including the technology of distributed registers, digital mortgages, cryptocurrency, token or smart contracts). But these are not the only sphere that are to be settled. The government will also look at the process of extracting cryptocurrency and possible way of taxation of such activities, as well as issues ICO.
Although on paper everything looks ambitious and precise, but only concrete solutions will allow to assess which direction is going Russia. Projects can both make life difficult for cryptal users and make them easier to use depending on their content.
DDoS attacks on Bitcoin Gold website
The BTG team has reported via Twitter that the project site is under attack by DDoS. In a very simplistic way, it is an attack on a given page that involves all free resources. It is usually carried out by many different computers. The effect is "falling" the page - it is inaccessible and can not enter it. However, everyone can see the attack has survived and the site is already functioning.
In addition, the platform indicates premined, which is dug 8,000 blocks. This gives developers the ability to cash in their 100,000 BTGs once the trade is opened. This does not continue solved the problem of double issuing coins, and even the creators have designated an appropriate reward for solving this issue. When it comes to another fork Bitcoin is a comparison to the previous issue seem natural. Bitcoin Gold, however, is hard to value because the exchange has not yet opened the exchange pairs. Similarly to Bitcoin Cash, where you also had to wait a lot of time.
Banks refuse to cooperate with the startups industry FINTECH.
Startups in the UK from the fintech industry, precisely distributed ledger technology, have a problem with access to traditional banking services as reported by the latest report released by the UK Financial Regulatory Commission, which manages the regulatory environment to enable new typical businesses to test "innovative products, services and business models in the live environment, " he found that Fintech startups were not allowed to open bank accounts.
Technology-related startups, using Bitcoin and other cryptocurrency directly, have long had problems with access to banking. However, the fact that these troubles now extend to blockchain companies and scattered books are noteworthy given the role of FCA in controlling the financial sector in the UK as well as differences in open and approved blockchain systems. The report found that some banks are concerned about the appearance of money laundering and the financing of terrorist organizations, as well as lending potential risky ventures.
E-sports betting platform - Unikrn collected $ 30 million in ICO
Unikrn's platform has collected more than 112,000 Ethereal (about $ 30 million) at its ICO this week. Rahul Sood, Chief Executive Officer of Unikrn, said in a statement that the company had received Ethereum tokens from 112 countries, characterizing them as "mostly small buyers." The completion of the ICO also follows the Unikrn's license to play gambling in Malta, which is a significant benefit for a company that wants to apply technology to electronic sports betting.
The idea is that the Unikoin Gold, a token that is intended for sale, will act as a common means of exchanging players on the platform, allowing you to bet on games like League of Legends, Defense Against the Ancients (Dota) and CounterStrike. Unikoin Gold replaces the previous virtual currency, called Unikoins, used in conjunction with the government-issued online currency. Unikoin was created in 2014 with the support of investors such as Elisabeth Murdoch and Ashton Kutcher. According to Sood, in the coming months there will be additional applications for the Unikoin platform, including tools that will allow players to collect more tokens.
Blockchain has the potential to use it in the health administration
Last week, Debbie Bucci, chief information technologist at the HHS Office of the National Coordinator for Health Informatics (ONC) in the US, talked to the Federal Radio News, discussing an earlier invitation from the department for academic work, which reported over 70 applications from various sources. The contest encouraged to submit ideas for the use of technology in the medical sector blockchain. Debbie is one of the most popular blockchain supporters of the introduction of the Department of Health and Population Health in the US.
Debbie Bucci pointed out that blockchain can be used as a more efficient way to track payments made on both systems, both by storing this information on the public account and by having certain information, and by allowing subscribers to calculate their specific costs and benefits with greater ease. The Department of Health has not yet conducted any specific research project. At the same time, HHS remains involved with the developer community, and Bucci described the recent hackathon (long programming process), during which the winning project focused on the use of blockchain to track data from clinical trials.
Malta creates the legal basis for the functioning of the cryptocurrency investment funds
The Maltese government is waiting for public opinions, proposed legal regulations for investment funds that focus on cryptanalysts and their trading. The Maltese Financial Commission (MFSA) has published a bill that will regulate how professional funds encourage stakeholders, manage risk, and organize their own structures. The publication represents the last step of the Maltese government to implement policy changes in the light of technology. In his statements, the MSFA said that his work could enrich several types of investment funds by explaining:
MFSA establish the rules governing the Professional Investor Funds ( "PIF") which invest in virtual currency as the investment objective. MFSA now considering whether alternative investment funds and notified to the alternative investment funds should also be allowed to invest virtual currency. The main proposals introduced under this new regulation are aimed at ensuring investors' interest and financial market integrity in the context of virtual currencies.
CEO of China Renaissance says that blockchain is more important than Bitcoin
Fan Bao, president of China Renaissance, said in an interview with CNBC that while Bitcoin may be stubborn, he believes that blockchain technology is more attractive and "probably the most destructive technology in the financial services industry." "I'm a strong supporter of Fight for a wider use in our industry, " he added. His comments came after Bitcoin reached another record high of $ 6,100 last week. At the same time, newer financial applications are emerging, especially in the capital markets.
PayPal co-founder believes that Bitcoin is a reserve form of money
Peter Thiel, co-founder of PayPal, believes that Bitcoin critics do not understand his abilities and values. In comments from the Third Day of Investment Initiatives in Saudi Arabia, Thiel said that although he is "skeptical of most cryptanalysts," he believes Bitcoin has a promising future based on the trajectory that will develop.
Elsewhere in the interview, Bao pointed out that the Chinese government has adopted a liberal approach to innovation in its open market policy. In fact, in the last announcement, the Chinese government has proposed to blockchain to apply to establish a credibility system for the industry in the supply chain in the country, signaling official support for technology development.
People are especially low on it because ... it is a reserve form of money, just as gold is only a means of thesaurisation. You do not need to use it to perform transactions. If Bitcoin becomes a digital equivalent of gold, it has tremendous potential ... I will be even more confident of Bitcoin when the number of transactions is increasing day by day.
He also noted that the extraction of Bitcoin - an extremely energy-consuming process in which new transactions are added to the chain of blocks - is more difficult than gold mining. His comments pointed to the limited issuance of coins encoded in cryptanalyst software, since only 21 million Bitcoins will be created.
Bitcoin can be dug like gold but it is hard work, even heavier than gold mining. And in this aspect its supply is more limited than gold.
European energy companies are testing a blockchain based trading platform
Two European energy providers tested a new blockchain-based trading platform this month. German gas and electricity company Enel and German company E.On conducted tests using the technology developed by the Ponton computer company. As with other trials of this sort that have taken place in recent months, energy companies have examined how peer-to-peer trade can facilitate direct energy sales. The idea is that this technology can help reduce the costs of intermediaries in energy distribution and ensure greater transparency of the process.
Representatives of the companies involved in the latest version of the test made an optimistic signal about the prospects for technology in the energy space. Matthew Timmis, chief technology officer, commented:
The Enerchain initiative is a good example of open cross-sectoral cooperation. We all believe in the tremendous potential that technology blocks for the new energy world, and especially for our customers.
