In this release we will plunge into the cryptoworld and talk about the main events of the past week:
1. Blockchain and its new frontiers in the global economy;
2. Recent successes of bitcoin-based startups on the world stage;
3. Stocktaking of the London Blockchain Week 2017.
Attention to the crypto from authorities. The world leaders in finances are going to work with cryptocurrencies and blockchain. Dubai will digitize all documents with Blockchain. According to crypto-news.net, Dubai and Blockchain Company are partnering up for an interesting project meant to place all of the city’s government documents and transactions on a blockchain platform. In a recent press statement, that took place in Davos, the CEO of Blockchain, Peter Smith mentioned: “I am very optimistic about the Middle East, and we plan to invest big there”. As time p asses by, Peter remains optimistic on the future of Blockchain Tech.
Gold trade via blockchain. The Royal Mint has announced the gold market using a nascent blockchain technology. They also said about cooperation with CME Group, the derivatives market, with which they will to develop their product. New digital gold called the Royal Mint Gold, about 1 billion in gold bullions, will be stored at the Mint in Wales.
Blockchain could change the global financial system. The Federal Reserve chief Janet Yellen said about this during the speech at the forum of the Commonwealth Club. Earlier, at a meeting of the representatives of 90 central banks in Washington Yellen called on her colleagues from the central banks of other countries begin to explore new financial technologies more actively.
A new whitepaper project sidechain introduced The Blockstream company. Technical description has a name Strong Federations: An Interoperable Blockchain Solution to Centralized Third Party Risks and contains updated mechanism for consensus and trust model, and a description of mechanisms for the return of funds sent to the parent chain in the event of failure. This whitepaper is a result of experiments with SegWit and Confidential Transactions, said developer of Blockstream Andrew Poelstra. Sidechain with the Confidential Transactions Protocol will provide greater privacy of users.
“Decentralized exchange” between the two blockchain-based networks. Members of the Ethereum R&D team and the Zcash Company are collaborating on a research project addressing the combination of programmability and privacy in blockchains. In a blog post, Ethereum Foundation team lead Christian Reitwiessner and Zcash Company engineer Ariel Gabizon, wrote: “We tested the new code successfully”. Connecting these two blockchains and teams it is the natural way to bring to life applications requiring both.
The commission for paying via cryptocurrency. China’s largest cryptocurrency exchanges began to charge a fee for every trading operation with Bitcoin and Litecoin.CoinIdol.com reports – BTCC, Huobi and OKCoin exchanges charging a flat fee of 0.2% per transaction for both market makers and takers. Updates entered into force on January 24th at 00.00 local time on.
Flashy startups like Coinbase, Circle, Blockchain, and BitPay are some of the most famous companies in bitcoin. But arguably more important are the miners — individuals and organisations who form the core backbone of bitcoin, ensuring the digital currency’s integrity.