The Seoul Metropolitan Government is set to launch the first blockchain-powered administrative services in November. The city also will be creating a cryptocurrency for citizen rewards purposes named S-coins and allow them to redeem the points for rewards and will be integrated with a city-government sponsored QR-code-enabled network, ZeroPay which allows customers to pay for goods and services using their phones.
The Founder of Zcash and CEO of Electric Coin Company (ECC), Zooko Wilcox has appealed for a new funding model for the development of its Zcash. Wilcox said: “I hope that the community will decide to renew the ‘Dev Fund’ structure, allocating coins from future block rewards for core support functions such as software development, user support, business development, regulatory and government outreach…”
An announcement has been made by the People’s Bank of China (PBoC) regarding their intention to accelerate the development of its cryptocurrency. Apart from that, PBoC has also shared that they should accelerate the research and the development of its digital currency and paying attention to the domestics and foreign currency and strengthen their financial risk remediation.
Samsung has shared that the demand for cryptocurrency mining in its second quarterly report this year. It has also raised its profit target for the coming half as the market for High-Performance Computing (HPC) Chips, especially the ones used for the mining of digital currency has increased. GM of Samsung Foundries earlier revealed that they’re working on designing and the manufacturing of 3nm and 5nm chips for the mining of Bitcoin.
Ovadia (founder and CEO of crypto exchange based in South Africa Ovex) has predicted and made public his opinion that in 10 years everyone will be using cryptocurrency. He commented, “One of the biggest barriers internationally is a lack of education on the nascent technology.” He bats for education to more people to improve the penetration of the technology & pushes for crypto exchanges, which offer a legitimate and secure means to buy and sell cryptocurrencies.
Apple Card, which is developed in partnership with Goldman Sachs and Mastercard which is expected to come out by the end of this month has revealed that users shouldn’t try to use it for purchasing cryptocurrency. Apple explained, “This has no card number, CVV security code, expiration date or signature on the card, which makes it more secure than any other physical credit card.”
An announcement has been made by Coinbase Custody that it has been selected by one of the largest digital asset fund managers, Grayscale to store their digital assets. Coinbase Custody will act as the custodian for the Grayscale’s list of products such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Stellar Lumens (XLM), & XRP are inter alia.
A global retail major, Walmart has made public that it has filed application with US Patent and Trademark Office (USPTO) for its own stable cryptocurrency which is most likely pegged to USD. In its statement: “Using a digital currency, low-income households that find banking expensive, may have an alternative way to handle wealth at an institution that can supply the majority of their day-to-day financial and product needs.”
A multi-blockchain collectable adventure game, Blockchain Cuties has recently released the presale of its NEO-powered “cuties”. Blockchain Cuties which has integrated with NEO which makes it the fourth blockchain to host cuties together with Ethereum, EOS and TRON and highlighted that they will,be minted as non-fungible tokens (NFT). Player can purchase the first round of unique presale characters using NEO or GAS.
The ex-Central Bank chief, Gustavo Franco has praised cryptocurrency (Bitcoin) and nudged all major companies to follow Facebook to develop their own cryptos. He argued, “In theory, any global company – not just big IT enterprises could do something similar . McDonald’s could create the ‘Mac,’ a cryptocurrency that could be converted into Big Macs. Starbucks could create the ‘Star,’ letting people buy cappuccinos – all based on blockchain technology. Why not?”