Storj, the decentralized data storage startup, gets a new executive chairman and interim chief executive. Ben Golub has been appointed to oversee Storj operations. “There are demands from users and rapid growth in the number of farmers. We have got to take the next big step to make it efficient to users,” said Shawn Wilkinson, the founder of Storj.
The Bank of International Settlements (BIS) voiced that the central bank-backed digital currency (CBDC) could aid banks in financial stability. The BIS is of the opinion that the digital currency would be ‘useful for payments’ and the full potential should be analyzed. The bank also had a positive view of blockchain tech but emphasized it is ‘unlikely to be used widely by banks.’
Coinzer, the cryptocurrency project has used BNM logo and the Jata Negara on the website, token and white paper. The project also inhibited ‘14-pointed Star of Malaysia symbol and Malaysia’s country code’, CoinDesk reported. The central bank of Malaysia declared. “BNM would like to state that it does not authorize or endorse the crypto platform.”
Four Finnish banks terminated their services to a Finnish cryptocurrency provider, Prasos. Prasos currently left with one bank to rely on their business and keep their operations going. Prasos’s Chief Executive Officer believed the lack of crypto regulatory attributed the action took by the four banks.
SBI Holdings has annulled its association with Huobi Group, crypto exchange. The SBI Holdings declared the halt of capital and business collaboration with Huobi. When asked about the cancellation of the deal, SBI Holdings stated that they are on the look-out for integration of high-security level. Huobi exchange has not reacted over the same.
ViaConto Sweden, VIA SMS Group, has established a CryptoLoan. The CryptoLoan presents digital loans by holding bitcoin as collateral. Initially, the project will cover only Swedish residents and further expand to other European countries. The loan repayment term is fixed for 24 months. On repayment of the loan, the bitcoins held as collateral will be transferred to the borrower’s wallet.
The governor of People’s Bank of China Zhou Xiaochuan gave a statement that the central bank “dislikes” cryptocurrency that seems to be too speculative. According to Zhou, in the local news, “Lots of cryptocurrencies have seen explosive growth which can bring significant negative impact on consumers and retail investors.”
The head of People’s Bank of China, Zhou Xiaochuan, stated that development of virtual currency backed by the central bank is ‘inevitable.’ He added that the bank-backed digital currency should be barred from becoming a speculative product. He further said, “The emphasis should be to serve the real economy.”
Director of Payment Systems Policy of Bank Negara Malaysia Tan Nyat Chuan shares his speech and opinion regarding cryptocurrency in Malaysia at Malaysia Fintech Expo. According to Tan, “We’ve not banned exchanges, we’ve just put in the necessary safeguards for threats against money-laundering and terrorism financing.”
Bithumb is pulling extra effort in increasing the adoption of cryptocurrency in the country. As the country’s largest cryptocurrency, Bithumb took a move by launching cryptocurrency payment in food ordering kiosk around the country’s restaurants and cafés.