Seven European countries are uniting to promote blockchain technology, South Korea banking giant starts to adopt it, US authorities are about to control privacy coins, IBM enters the fuel industry, Ohio state supports start-ups with about $100 million – a lot is going on in the cryptocurrency world!
Check out our summary of news from the past week:
Shinhan, one of the biggest banks in South Korea, started adopting blockchain technology. Last month, it introduced blockchain-powered transactions. The authorities of the bank claim to begin conducting talks with the government in order to expand its activity to foreign exchange and investment sectors.
Shinhan is working on blockchain technology projects with South Korean telecom provider KT, and with Korbit, one of the biggest cryptocurrency exchange in this country. The deal with Korbit is based on the allowance of new users, as opposed to previously only existing, to use real-name banking services for withdrawals.
Shinhan supports also large South Korean crypto exchanges: Gopax and UPbit.
Here’s a brief overview of South Korea’s largest conglomerates going big on crypto:
1. SK (biggest telcom) -> Korbit (exchange)
2. Shinhan (biggest bank) -> Gopax (exchange)
3. Nexon (biggest game developer) -> Bitstamp, Korbit
4. Kakao -> Upbit
5. Samsung -> ASIC manufacturing
— Joseph Young (@iamjosephyoung) October 29, 2018
The US Department of Homeland Security (DHS) has published a complaint document. In it, they state that they are going to develop methods for tracking potential illegal activities related to transactions of privacy cryptocurrencies, for example, Monero and ZCash.
DHS predicts commercial use of its technology as well as cooperation with the government. Interested parties have time until December 18th to submit proposals.
IBM has signed an agreement with the state-owned company Abu Dhabi National Oil Company (Adnoc). Thanks to the agreement, this IT company will introduce blockchain solutions to their operational processes. The pilot project creates a system based on blockchain technology – to track and execute transactions at every operational stage, from production to finalizing contracts with the client.
CC: stratorob PetiotEric evankirstel drfeifei FGraillot Cre8tfutures HaroldSin… pic.twitter.com/PD8TQjOjkX
— The IoT Warehouse (@TheIotWarehouse) December 12, 2018
Seven European countries have gathered to promote the use of blockchain technology to enhance government services and economic prosperity. Italy, Greece, France, Spain, Malta, Cyprus and Portugal signed on Tuesday a declaration which promotes the adoption of blockchain in the South-European region to transform economies. The gathering took place in Belgium on December 4th.
In Ohio, USA, two start-up accelerators will spend about $100 million on blockchain companies, focusing on business and government issues. Ray Leach, the president of JumpStart, disclosed plans at the Blockland Solutions conference in Cleveland. Other investment funds in this country, according to Leach, plan to invest $200 million into blockchains within the upcoming years.
Ohio is one of the most crypto-friendly states in the USA. Recently, the authorities of the state allowed to pay taxes in Bitcoin.
The price of XYO Network coin (XYO), the cryptocurrency with $27 million market capitalization, increased over 120% last week and for a while, entered Top 100.
Last week, XYO Network ended the gamma phase of token sales. It launched its main network and claimed to have received proposals from the ten leading exchanges. The first, which they accepted and which was introduced to the market, is LATOKEN, an exchange, which has about $37 million in the daily volume, trading with Bitcoin, Ethereum and Tether.
— XYO Network (@XYOracleNetwork) December 7, 2018
BDCenter, Belarus based digital marketing company analysed the 30 most popular exchange platforms and a few smaller ones. According to research, almost 60% of the crypto traders come from the USA (about 30%), Russia (15%) and China (11%).
The next countries in this ranking are Vietnam (about 10%), Turkey (7%), Brazil (5%), Ukraine (4%), Japan (3%), South Korea (3%), Germany (3%), and Great Britain (2%).
What’s more, the analysis shows that most traders come from the 25-34 age group (about 37%), and most of them are men (over 70%).
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