UN blockchain tool aims to improve land registry in Afghanistan’s cities
The United Nations has released a blockchain-powered solution to help the Afghan government manage property ownership issues in the country’s urban areas. According to a Dec. 2 announcement, the U.N. Human Settlements Programme, or U.N.-Habitat, will present its new digital land registry solution to the Ministry of Urban Development and Land in Afghanistan in December 2020.
China Construction Bank’s blockchain bond efforts take a new direction
China Construction Bank, the world’s second-largest bank by assets, is cooperating with Malaysian and Singaporean partners to test blockchain technology for use in the bond market. As previously reported, China Construction Bank’s branch in Labuan, Malaysia, had initially pursued a partnership with a Labuan-based fintech firm to issue what was hailed as prospectively the first-ever blockchain-based digital security to be issued by a Chinese financial institution.
PayPal CEO calls on crypto industry to work hand in hand with regulators
There is no other way for the cryptocurrency industry to thrive without working hand in hand with regulators, PayPal CEO Dan Schulman believes. On Wednesday, Schulman joined the Web Summit online conference to discuss the cashless era of the global financial industry with Squawk Box host Andrew Ross Sorkin.
Russian central bank opposes ruble-pegged stablecoins
Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble. Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the country’s fiat currency.
Bitcoin theft is likely to surge in meager post-COVID economy: report
Cryptocurrency-related fraud and theft are likely to grow in the post-COVID-19 world, according to a new report by cybersecurity and anti-virus provider, Kaspersky Lab. Securelist, Kaspersky’s cyberthreat research arm, published a report on cyberthreats to financial organizations, forecasting some specific types of financial attacks that are likely to surge in 2021. Securelist has predicted that a wave of poverty fueled by the COVID-19 pandemic will inevitably lead to “more people resorting to crime including cybercrime.” That could also mean a rise in crimes related to Bitcoin (BTC).
European central bankers predict that the digital euro is at least five years away
Several experts from various European banks agreed that even a proof of concept for a digital euro is four or five years away. In a panel on Monday called "Upgrading Money to the Digital Age: Introducing Digital Euro," participants agreed that the current task was primarily one of getting everyone onboard with the specifics of a digital euro, putting any real implementation well into the future.
BitCar announces airdrop programme
November 25, 2020 – BitCar is a project which was the world’s first platform that allowed for fractional ownership in collectible exotic cars such as a Ferrari 599 GTO and issued ERC-20 BitCar tokens a few years ago. Since its inception, the project has achieved complex and difficult milestones, however, due to numerous reasons including insufficient funds and demand for the car linked BitCar tokens, the company announced that it would discontinue the project.
China’s national blockchain project adds Polkadot support
Chinese government-backed blockchain initiative, the Blockchain Service Network, or BSN, is introducing support for another batch of major blockchain protocols. On Nov. 26, it announced that it will integrate Polkadot, Oasis and Bityaun into its ecosystem on Nov. 30. Polkadot's blockchain protocol is designed to connect multiple specialized blockchains into one unified network. Polkadot also enables processing of numerous transactions on several chains in parallel, bringing another level to its network capacity. Oasis specializes in private and scalable decentralized finance tools, while Bityuan is a blockchain solutions provider to Chinese companies.
RSK-based DeFi protocol launches innovative decentralized exchange concept
DeFi protocol Money on Chain, a lending platform and stablecoin issuer based on Bitcoin (BTC) sidechain RSK, announced Wednesday the launch of TEX, an automated token swap platform based on an order book — with a unique twist. Instead of being available instantaneously, orders are processed in batches according to a slightly variable interval of a few minutes. Each execution, called a tick, matches the orders submitted to the blockchain.
US intelligence is looking at Chinese CBDC as a national security threat
The United States national security apparatus is warning other agencies about China’s upcoming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that National Intelligence Director John Ratcliffe had sent Securities and Exchange Commission Chairman Jay Clayton earlier in the month.