Bitman Subsidiary Has $676,000 Frozen By Chinese Government
The Shenzhen Bao’An District Court in China has ruled to freeze about $676,000 in assets of a subsidiary of Bitcoin (BTC) mining giant Bitmain. According to a court filing released on Dec. 13, the Shenzhen Bao’An District Court ordered to freeze about 4.7 million yuan of Bitmain’s wholly-owned subsidiary, Shenzhen Century Cloud Core. This ruling follows an application submitted by a manufacturer of electronic components, Dongguan Yongjiang Electronics, on Sept. 24
Venezuelan Government To Pay Petro To Citizens As Christmas Gift
Venezuelan President Nicolás Maduro announced that this week the government will pay half a Petro to Venezuelan retirees and public workers as Christmas bonus. With a total of 4,500,000 retirees and 3,500,000 public workers, Maduro said in a speech in recent days that he expects to deliver half a Petro to more than 8 million Venezuelans this week.
The United Nations Is Looking To Blockchain To Help Poor Workers
Blockchain financial services firm Diginex and the United Nations-led International Organization for Migration (IOM) have launched a blockchain tool looking to prevent the exploitation of migrant workers in Hong Kong. According to a Diginex press release the tool was designed to be used by about 1,500 Hong Kong-based migrant domestic worker recruitment agencies and some associated agencies in worker-sending countries.
Algorand The Decentralized Blockchain Network Is Going Through An Upgrade
Algorand, which is a decentralized blockchain network developed by the American blockchain firm, is expected to upgrade to version 2.0.2 today. The upcoming network upgrade is poised to increase the amount of time for nodes to upgrade to new consensus versions after voting thresholds have been met. As announced, the primary cause for the upgrade is to change the length of the upgrade-required window from 10,000 blocks to 140,000 blocks, which is expected to extend the time for node upgrades from 12 hours to seven days.
New Moves In The World Of Blockchain And Gaming
The United States transnational IT firm Advanced Micro Devices (AMD) has joined the Blockchain Game Alliance and forged two new partnerships to help advance the technology’s use in the industry. A recent press release stated that the chip manufacturing giant is partnering with blockchain technology providers Robot Cache and ULTRA — both of whom are working to develop and operate blockchain-based online gaming marketplaces.
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.
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.
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.