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Daily Bitcoin and Crypto Analysis

This Week in Crypto...

October 25, 2020
Over the Weekend… Blockchain-based data storage platform Filecoin started a weeklong digital conference to get some much needed stability. During the Filecoin token launch, its price shot up by 118% before diving by 80%.

On Monday…

Japanese finance giants said they are going to adopt a blockchain-based identification system. Fujitsu, Mizuho Bank, and JCB will test a 4 month pilot that will transfer member id info across multiple business operators.

Switzerland’s Federal Department of Finance has started planning for a blanket ordinance for blockchain technology. The goal is to provide better regulation and promote more blockchain innovation.

On Tuesday…

A report released by the World Gold Council put cryptocurrency next to gold in popularity among Russian investors.

Sadyr Japarov, Kyrgyzstan’s acting president, proposed blockchain tech to ensure fair elections and restore public faith in the democratic process. “We have had three revolutions because of unfair elections. If this continues, the unrest and the revolutions will continue. From now on, everything will be fair. I consulted with the Central Election Commission and offered them to introduce blockchain technology.”

On Wednesday…

The Bahamas became the first country to officially launch a CBDC. The ‘Sand Dollar’ is available for any Bahamas resident with a central bank approved e-wallet on their mobile device.

Macau’s blockchain-powered medical data system has allowed the entry of 17 million Chinese tourists to date. This ‘digital health passport’ was developed by the Singaporean government-owned investment firm SG Innovate and startup Accredify.

On Thursday…

Siemens demonstrated a blockchain-backed energy trading platform in Germany. It is called Pebbles and seeks to connect private energy producers with consumers without the need for traditional grid operators.

After PayPal announced it would add Bitcoin to its platform, BTC’s market cap exceeded that of PayPal. PayPal will also incorporate Ethereum, Litecoin, and Bitcoin Cash.

On Friday…

The Federal Reserve and the Financial Crimes Enforcement Network proposed a bill that would make financial institutions provide client information for all international transactions over $250. This regulation is called the Travel Rule, and since 1995 it has only applied to transactions over $3000.

Web publishing platform WordPress came out with a plugin that lets users timestamp their content on the Ethereum blockchain. This will add protection from copyright violations as a timestamp will provide a tamper proof hash for the latest version of the content.

For more information on these stories, visit:

Filecoin: https://cointelegraph.com/news/following-whipsaw-launch-filecoin-looks-to-weeklong-conference-for-stability

Switzerland: https://www.digitalmarketnews.com/swiss-government-initiates-consultations-for-blockchain-laws/

Japan: https://cointelegraph.com/news/japanese-payments-firm-jcb-and-mizuho-bank-test-blockchain-based-id

Russia: https://news.bitcoin.com/world-gold-council-survey-shows-cryptocurrency-investment-the-5th-most-popular-in-russia/

Kyrgyzstan: https://coinlist.me/news/kyrgyzstan-president-endorses-blockchain-for-elections/

Macau: https://cointelegraph.com/news/17m-chinese-tourists-verify-health-using-blockchain-to-visit-macau

Bahamas: https://cryptodaily.co.uk/2020/10/bahamas-becomes-the-first-nation-to-officially-launch-sand-dollar-cbdc

PayPal: https://cointelegraph.com/news/bitcoin-officially-flippens-paypal

Pebbles: https://www.ledgerinsights.com/siemens-partners-german-renewable-energy-firm-for-blockchain-energy-trading/

Wordpress: https://cryptoslate.com/this-wordpress-plugin-will-allow-authors-to-timestamp-content-on-the-ethereum-blockchain/

Travel Rule: https://decrypt.co/46149/fincen-fed-reserve-want-changes-travel-rule-reporting


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