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New Jersey Governor Gives Green Light For Blockchain Task Force

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The Governor of New Jersey, Phil Murphy, is everywhere in the latest cryptocurrency news for signing the bill 52297 and with this giving the green light to create a so-dubbed New Jersey Blockchain Initiative Task Force. As the governor noted, the main purpose of this task force will be to study blockchain solutions for the benefit of the state.

The news have spread like wildfire on many best cryptocurrency news sites – especially because Murphy is one of the people who has not been known for his stance towards blockchain. Also, an official announcement of the state of New Jersey’s website confirmed the plans. Published on August 8, the press release shows that the taskforce will study all the risks and rewards when it comes to blockchain and distributed ledger technology (DLT).

From public to private blockchains as well as consensus algorithms, it seems like the New Jersey governor is interested in all kinds of current projects and use cases around the world and their potential in the state. He is also thinking about laws that could be changed for secure and paperless record keeping.

At this point, the creation of a task force monitored by the New Jersey governor is the next logical step. The task force, as the press release shows, will contain 14 members who are appointed by officials in different parts of the government.

The group will also have 180 days after it convenes to report on its findings – and will likely include a cost-benefit analysis of introducing blockchain technology into government agencies – plus the force’s recommendations on implementing these solutions. As the coming altcoin news show, the New Jersey governer appointed the states Chief Technology Officer Chris Rein to head the new task force.

Rein remarked and said that he was “excited to evaluate and help shape how our state government can best use, and optimize, blockchain technology.” Still, what is more important is the statement of the Senator James Beach, who sponsored the bill. Beach commented on how he feels confident that blockchain has a place in the local government as a type of security measure:

“In an age where digital information needs protecting, blockchain is a technological innovation that will protect us from hackers and those seeking to steal our information […] I believe that whatever the taskforce decides, there is a place for blockchain to be used in local governments to protect them from the ever increasing dangers of the Internet,” the Senator noted.

 

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Waltonchain CEO Is Stepping Down From His Role At The Company

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Waltonchain, the popular blockchain-based supply chain tracking company is making some changes in its leadership positions since the CEO of the company will now be replaced by Do Sang Hyuk as we are reading further in the blockchain news today.According to the official announcement of the company, the former CEO Mo Bing, will step down from the project but will still continue to supply consulting services to the company. The man who took over was already involved with Waltonchain and is spreading the project’s message on the South Korean market. He established the non-profit Korea Blockchain Institute with the goal of popularizing the potential of the technology. The team noted:
‘’Mr. Do Sang Hyuk has been making a great contribution to the development of Waltonchain over the past years. We believe that, as an ecosystem and a team, Waltonchain will have an excellent future under the leadership of Mr. Do Sang Hyuk’’
The Waltonchain project is still a mystery for other platforms since it has ambitious goals to build blockchain-powered IoT systems. The project’s asset WTC was first created as an ERC-20 token during the ICO boom back in 2017. WTC peaked at $38.02 and about 0.003 BTC during the all-around rally but since 2017, WTC erased most of its value. The price dropped sharply after the giveaway scandal where the winner turned out to be a Waltonchain employee.The Waltonchain project also had a lot of exposure to social media after it promised to become a platform that could easily compete with Ethereum. The use case was the same as VeChain and aimed to create its own tracking projects. Waltonchain is still aiming to make use of the improved climate for blockchain projects in China since the platform presented its case and helped build a new blockchain standard during the China Blockchain Technology and Industrial Development Forum in Shenzhen.Waltonchain also works on hardware supplements for blockchain-based data processing aiming to connect the real world with the crypto assets. WTC however, is still in a bearish position with the potential to continue sliding. The company remains one of the major 2017 ICOs that continued operations.
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Ex-Morgan Stanley Devs Create High-Speed Crypto Derivatives Exchange

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Ex-Morgan Stanley devs from teamed up in a pursuit to make a new crypto derivatives exchange, armed with its own cold wallet, major transaction speeds and much more as we are about to find out more in the upcoming cryptocurrency news.According to a recent declaration, a new high-speed crypto derivatives exchange called Phemex, is expected to be launched in the near future. The exchange will supposedly be fast enough to it is supposed that the exchange will be so fast that will execute trades in less than a millisecond, and will be of service of institutional and retail investors alike.The new exchange was created by a number of developers who were employees of Morgan Stanley. One of the co-founders of the company, Jack Tao, was 11 years executive in Morgan Stanley. Back he also served as the global development leader for the Morgan Stanley Electronic Trading Benchmark Execution Strategies.  He left the investment bank at the beginning of the second half of this year, in July, and was determined to put up a team of over 30 senior developers. Eight of the new developers were working as executives at Morgan Stanley.According to Tao, the internet allows momentarily communication and information flow, while blockchain will enable the exact thing for value. The new exchange would perform as many as 300,000 each second, as verified during the beta testing, which was done in the past several weeks. Tao also mentioned that the exchange started with trading around ten days ago, on November the 25th.  Aside from the high transaction speed, the exchange can also manage to deliver an order entry extremely speedy, with a less than a millisecond response time.Leverage is also offered to all of Phemex clients, including 100x leverage for Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) contracts. Not only that but also the clients will have the opportunity to back their contracts with traditional financial products, in the near future. According to the ex-Morgan Stanley devs, these will include metals, energy, stocks indexes, interest rates and more. Tao claims:
“The internet has made it possible to communicate and transfer information. So, a public blockchain enables instant transfer of value.”
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Poloniex Defends New Tron Partnership Reacting To Digibyte Comments

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It seems Poloniex defends its new partnership with TRON. The exchange company reacted to a Twitter thread by Digibyte co-founder Jared Tate, momentarily proclaiming a pending delisting of DGB as we are reading further in the upcoming blockchain news.The Polniex exchange disapproved of criticism addressed to the TRON protocol, and it undoubtedly had the reasons to do so. Poloniex is now applying to become a TRON Super Representative, and have also obtained TRXMarket, transforming it into Poloniex DEX. Therefore, Tate’s comments sparked the reaction.The delisting was at first odd, as Polonix had finished with the mass of its delistings for 2019. Most of the decisions were in relation to problems with the cryptocurrencies on the US market, or low liquidity. In contrast, DigiByte is a project with a big community, which endured the big Poloniex cull. The recent delisting was a source of outrage, for targeting a specific coin and in essence censoring its market.Now poloniex defends the new partnership after becoming an international exchange and is also trying to change the profile and find new sources of activity. Poloniex even announced new plans to offer free listing to the TRON based TRC-20 tokens which will take the asset on board from the previous TRXMarket decentralized exchange.Poloniex now bears volumes of around $33 million daily and has put a limit on itself to 98 trading pairs. The exchange also experienced a big outflow of Ethereum. The DGB market on the exchange is relatively small, around $97,000 in the pairing with BTC. The new liquidity indicator also implies that DGB may face a substantial fall, as the market depth is just about $64,000.In theory, DGB is between the less active coins- but Polniex has earned more criticism by its odd decision to delist. Following the news, DGB fell about 3% to $0.00068. There is a meaningfully lower trading interest in comparison to the boom of 2017. DGB now trades dominantly on ZBG and CoinEx, with a miniature market on Bittrex. One Reddit user commented:
“Poloniex delisting DGB proves Jared’s point. This was actually good for the DigiByte community, which is looking very strong and cohesive on Twitter. Ultimately DGB does not need Poloniex and I believe this flame war is going to bring in a new batch of DigiByte supporters”
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South Korea Telecom Giant Joins Blockchain Partner In China

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The most popular South Korea telecom giant and provider, KT Corporation, is boosting a new partnership with the China Mobile company and is targeting blockchain technology and 5G gaming.The blockchain news first emerged in The Korea Herald news outlet which reported that KT's preparing to debut 5G technology and roaming capabilities in China later this month. At the same time, the two companies said that they are working on a blockchain system which will allow them to save time and costs when computing the roaming changes for mobile users.The Korea Herald also notes that South Korea telecom giant is building a system to self-analyze roaming data from the two carriers and can process roaming charges on a real-time basis.”All of this comes around six months after KT revealed that it had built a blockchain network on its own. At the time, the crypto news showed that the KT Network Blockchain was similarly targeting roaming, along with other use cases for the blockchain such as user identification and more.The announcement followed KT's Blockchain as a Service (BaaS) attempt too. With it, the South Korea telecom giant wanted to ease access to the technology for South Korean firms.As we reported before this, both South Korea and China have been attempting to dominate in the field of blockchain. The latter country has even made it part of their formal state policy in a widely reported publicity campaign last month.As it stands, the enthusiasm is also palpable in South Korea as the South Korea telecom giant is looking a foray in this field. Another tech giant named Kakao Corporation has described its Klaytn blockchain as one that is more advanced than Facebook's Libra project in recent comments.The telecoms industry specifically can show us that blockchain should bring $1 billion of added value by 2023, according to a study which was published earlier last year. The technology is beyond limits when it comes to these providers and every one of them is trying to adopt it and make it part of their strengths.For now, there isn't an obvious leader in the field. However, the South Korea telecom giant KT Corporation is definitely looking in that direction.
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