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Cryptocurrency Midday Report

Jul 13, 2018

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  • The United Nations Secretary-General Antonio Guterres has created a panel which will focus on blockchain technology. The panel is called “High-Level Panel on Digital Cooperation” and will comprise 20 individuals that will focus on the impact of digital technology on global economies. Amandeep Gill, the Executive Director said that “You cannot look at “web 3.0” without looking at blockchain or without looking at AI”. Giill is worried about the risks and unintended consequences of the digital transformation including cyber-attacks and election tampering. The co-chairs of the panel will be Melinda Gates and Jack Ma.
  • Abra, a financial services and technology company that operates a cryptocurrency wallet and exchange app now can buy bitcoin with VISA or MasterCard credit cards and debit cards. Purchases can be made on the company’s website. The firm made the announcement on its twitter page. Purchases can be made between the range of USD$50 to USD$20,000.
  • South Korea is looking to simplify blockchain investing with new legislative changes. The country’s regulators will be introduced legislation that will intend to promote the technology across the nation. The country will look to expand tax reduction for new investment and ease requirements for new technology support. Earlier this week, South Korea revealed that it is developing new rules for ICOs and requiring legal obligations for crypto actors such as crypto exchanges.
  • American Express has recently filed a patent for a blockchain proof of payment system. The proposed system looks to automate proof-of-payments by encrypting the payment data with a public key on a blockchain node. The encrypted data may then be sent to a second blockchain node that will connect to a smart device to decrypt the data and match it with a customer.