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Cryptocurrency And Blockchain News Update 10th January 2020

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Bithumb Stars An R&D Project For Blockchain

South Korean cryptocurrency exchange Bithumb has established its own research and development (R&D) center. The initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea. Bithumb expressed high hopes for the research center’s impact on the company.

What Does The Future Look Like For Blockchain News And Information?

“pro-Bitcoin” news outlet called “Nakamoto” launched with the stated intention of letting industry thought leaders share positive content about cryptocurrencies. According to the about section of the Nakamoto website, the platform was launched “to create a venue for quality technical, philosophical, and cultural writing that is of general interest to the crypto community as a whole, for beginners and experts alike.” 

Virginia Looks To Blockchain To Help With Elections

In the USA, the great state of Virginia’s state legislature looks to study blockchain to improve elections and voting. Prefiled on Dec. 27 and scheduled for offering on Jan. 8, a new bill requesting further study into blockchain-based elections has emerged in Virginia’s General Assembly. The bill, House Joint Resolution 23, asks the Department of Elections to determine whether blockchain technology should be considered to secure voter records and election results. 

BitBox De-lists XRP On Exchange

BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging giant Line, announced that it will delist XRP on Jan. 16.  “We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”

IMF Economist Says USD Will Not Be Replaced By Digital Currency Soon

In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” they lack the infrastructure and global acceptance needed to supplant the dollar as the preeminent global reserve currency. “Advances in payment technologies do not address fundamental issues of what it takes to be a global reserve currency,” Gopinath wrote. “The dollar’s status is bolstered by the institutions, rule of law, and credible investor protection that the U.S. is seen as providing.”

Altcoin News

3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income

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3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income
3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income

In a special announcement made at the Unitize conference on July 6,  Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits. The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future. Do Kwon, founder and CEO of Terra, explained in a prepared statement:

“While DeFi staples such as Maker and Compound have been revolutionary in creating fully decentralized crypto money markets, the volatility of their interest rates makes them unsuitable to be used as a household savings product. DeFi mass adoption needs the creation of a fully decentralized savings account that offers dependable APR.”

Anchor’s smart contracts receive stablecoin deposits and use a portion of them to acquire staking positions on compatible Proof of Stake blockchains. Users will receive their passive income from these staking rewards. The initial governance for this platform will come from the Interchain Asset Association (IAA), a newly formed organization that sees Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs collectively steering the ship.

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Altcoin News

Telegram Is Set To Shut Down The TON Testnet By August 2020

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Telegram Is Set To Shut Down The TON Testnet By August 2020
Telegram Is Set To Shut Down The TON Testnet By August 2020

Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less than a month from now, network participants will still be able to continue their experimentation after the testnet is terminated. In order to do that, users can install their own testnet validators, described in greater detail in three different how-to documents containing guidelines for the Full Node, the Validator, and Test Grams.

Telegram launched the TON testnet for explorer and node software on Sept. 6, 2019. In anticipation of its scheduled Oct. 31 launch last year, the company released an alpha version of an iOS wallet to work with its native token, the Gram. But Telegram’s TON plans were never fully realized, as the United States Securities and Exchange Commission suddenly deemed Telegram’s $1.7 billion ICO illegal in mid-October. After a long-running legal battle with U.S. regulators, Telegram agreed to shut down its TON project, as well as return $1.2 billion to investors in line with a court-approved final settlement. As officially announced by Telegram CEO Pavel Durov, the firm had already reimbursed more than $1.2 billion by June 25.

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Altcoin News

Brock Pierce Enters The 2020 US Presidential Race

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Brock Pierce Enters The 2020 US Presidential Race
Brock Pierce Enters The 2020 US Presidential Race

Brock Pierce, entrepreneur, crypto venture capitalist, and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated: “

“I, Brock Pierce, am running for President of the United States of America.”

Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if he is seeking a nomination in a political party or if he is running as an Independent.

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