Afghan Government to Use Blockchain to Combat Counterfeit Drugs
Afghanistan’s healthcare ministry and several local pharmaceutical companies will use Fantom’s blockchain to combat counterfeit drugs. According to Fantom on July 6, its Opera blockchain will be used to track 80,000 units of four different pharmaceutical products in Afghanistan. After this initial pilot, the system will be scaled up to cover more products later this year. 50,000 units of hand sanitizer, 10,000 joint creams, 10,000 Kofol tablets and 10,000 Dioacare foot creams will be tracked during the pilot. The system is meant to address Afghanistan’s problem with counterfeit pharmaceuticals.
Trading Begins for New Treasury-Based, SEC-Registered Digital Security
Per a July 6 announcement from the firm, Arca has begun trading for its new digitized security, the ArCoin. The ArCoin runs on the Ethereum blockchain and represents shares in Arca’s U.S. Treasury Fund, which is registered with the Securities and Exchange Commission and is 80% made up of U.S. Treasury securities. Arca initially filed to launch the fund in April.
Tron is the Fourth Blockchain to Receive a Coveted Twitter Emoji
Tron (TRX) becomes the fourth blockchain project to receive a custom Twitter emoji hashtag. Justin Sun, Tron’s founder, unveiled the new emoji in a tweet on Friday. As customary in Tron’s marketing campaigns, the new emoji comes with a giveaway requiring fans to put the emoji in their profile bio. Like with Binance’s anniversary, the hashtag appears to be tied to a specific event. In addition to “#TRX” and “#TRON”, the project acquired the hashtags “TRONGreatVoyage” and “TRONConference.” This is in reference to an upcoming Tron 4.0 launch event, held as an online conference named Great Voyage.
Russia to Reportedly Investigate an Allegedly Fraudulent TON Offering in UK
Shortly after lifting the country’s Telegram ban, Russian authorities began investigating potentially fraudulent offerings involving the company’s unlaunched token, Gram. The token was at one time meant to serve a new blockchain ecosystem known as the Telegram Open Network, or TON. Reports indicate that Russian prosecutors are set to investigate a British firm that allegedly sold fraudulent tokens related to Telegram’s terminated blockchain project. The news was reported on July 3 by the local news agency, Baza.io.
Sri Lanka Central Bank Selects Shortlist for Blockchain Proof-of-Concept
Sri Lanka’s central bank has selected a shortlist of three firms to develop a proof-of-concept (PoC) for a shared Know Your Customer (KYC) facility using blockchain. The project was initiated in fall 2019, according to a report from Sri Lanka’s Daily Mirror on July 2. The central bank is looking to establish a blockchain-based facility that would enable the government and the banking sector to securely share and update customer data nationwide.
Tesla Stock Surpasses $1,200 — Now 30% Higher Than Bitcoin Market Cap
The stock price of Tesla (TSLA) surpassed $1,200 in pre-market, achieving a market capitalization of over $220 billion. Now, the most valuable car company in the world is worth 30% more than the entire market cap of Bitcoin (BTC), the biggest and most popular cryptocurrency in the world. Tesla overtook Toyota to become the highest-valued car manufacturer in the global market. It now looks to establish its dominance in the sector as its stock continues to soar.
Report: Japanese Blockchain Sector Grows Over 30% Since 2019
The number of cryptocurrency and blockchain-related companies in Japan increased by more than 30% this year. Monex Group's Monex Crypto Bank told Cointelegraph Japan on June 30 that there are 430 crypto and blockchain-related companies in Japan as of May 2020. This represents a 30.7% jump from the 329 companies reported in July 2019. The data is part of the “Blockchain Data Book 2020” that Monex Crypto Bank released on Wednesday, detailing the conditions of the Japanese blockchain industry. Monex Group runs Coincheck, one of the biggest crypto exchanges in Japan.
Russia: Bitcoin Activity Rising Despite Strict Law Proposals
A branch of the Russian federal government has recently published a draft of new litigation called “On Digital Financial Assets,” which is focused on enforcing strict cryptocurrency laws in the country. The legislation has not been approved yet and has been in discussion since 2018. The new laws define Bitcoin as property but not legal tender, and propose, among many other things, that Bitcoin (BTC) miners register as individual companies so they can be appropriately taxed. President Putin is planning on developing and revealing a new tax for Bitcoin miners by July 1, but many are skeptical about the government’s ability to regulate the cryptocurrency industry.
Blockchain Protocol’s Bold Plans to ‘Shake Up the Sharing Economy’
The sharing economy’s potential is massive, but firms in this burgeoning space often struggle to survive unless they have a sizeable war chest like Airbnb and Uber. Now, a new blockchain-based protocol says it is aiming to tear down unsustainably high barriers to entry that are stopping startups from flourishing. The TimeCoinProtocol provides a platform so that fledgling projects can build a sharing economy service. The team behind this new concept also believes it can solve some of the biggest challenges in the gig economy.
Canada's Digital Dollar Should Focus on Inclusion and Accessibility, Say Experts
A digital Canadian dollar should imitate traditional banknotes in terms of availability and accessibility, according to staff from the country's central bank, the Bank of Canada. In an analytical note on June 30, experts from the Bank of Canada revealed some of the goals for its central bank digital currency (CBDC). Analytical notes are a product of staff and analysts at the bank, separate from the Governing Council, so they do not necessarily represent the opinion of the bank itself.