The city of Nanjing and the capital of the province of Jiangsu is among the first cities in the world which set up a fund for investing in public blockchain projects. The capital of the Chinese province has put together 10 billion yuan ($1.5 billion USD) in a blockchain investment fund.
One of the key partners towards the development of this fund has been Zhongguancun Blockchain Industry Alliance, the alliance which is headquartered in Beijing, formed by government research institutes and blockchain companies.
The initiative has been initially revealed at the first Industrial Public Chain Summit (IPCS) where among the high-level government official attendees, there was the Deputy Secretary of the Communist Party of China, Luo Qun.
What’s interesting is the fact that China had a diverse approach to blockchain over the years. A year ago, the country banned all ICOs – and recently – it reaffirmed the stance and pledged to go after foreign ICOs.
Earlier this year, the country also ranked several existing cryptocurrencies – and Bitcoin did not make it to the top 10. The companies which have ‘blockchain’ in their name, on the other hand, measured an increase of up to 454% after their rebranding.
Currently, one Chinese official authority is working alongside the blockchain alliance to develop the local token economy and public blockchain projects. This is another sign that China’s stance on cryptocurrencies is changing.
Meanwhile, China is already the world leader when it comes to the number of blockchain-related patents – with 225 patents filled only last year – followed by the United States with 91.
The City Of Graz Opens A Cancer Research Laboratory That Will Use Smart Contracts On The Blockchain
“Blockchain is definitely one of the new important technologies. In addition to Artificial Intelligence and Speech Recognition, it is one of the big issues we want to highlight in the coming period of the EU Presidency.”The Austrian government will provide Lancor with grants over a 5-year period for research equipment, clinical trials, facilities and more. Graz is not the only city in Austria with high blockchain interest. Vienna, the capital, is trying to stimulate blockchain innovation by opening a cryptocurrency bank last year. The country, in general, is open to negotiations regarding crypto legislation. The government also issued $1.35 billion in bonds on the Ethereum blockchain in September 2018.
DLT Use Cases: IBM Files A New Patent Application For Open Scientific Research On The Blockchain
UK Research Shows That Private Blockchains And New EU Privacy Rules Might Go Well Together
“There is a risk that this legal uncertainty will have a chilling effect on innovation, at least in the EU and potentially more broadly. For example, if all nodes and miners of a platform were to be deemed joint controllers, they would have joint and several liability, with potential penalties under the GDPR.”However, blockchain operators could be treated like processors the same way the companies behind cloud technologies control the users’ data. Blockchain networks could store personal data externally to meet the rules of the privacy laws or allow nodes to delete the private key that has encrypted information. GDPR rules are really hard to comply with especially for crypto mining businesses which are why the researches urge the European Data Protection Board to create a guide of the protection law that will be clearer.
Maduro: You Can Trade Petro To Other Crypto Assets Only If You Have Bought It In 2018
“Anyone who buys the Petro until Dec 31 will be able to convert it into any other digital currency.”In the past 12 months, Venezuela suffered extreme hyperinflation, therefore, the national currency of the country, the Bolivar, is basically worthless. Many citizens in the country are incapable of buying necessary things such as food and medicine since the Bolivar lost its value. According to a report from BBC:
“A 2.4kg chicken has been costing 14,600,000 bolivars (equivalent to $2.22, or £1.74) in the capital, Caracas. Last Thursday, a toilet roll cost 2,600,000 bolivars. And a kilogram of meat cost 9,500,000 bolivars.’’In order to change this terrible economic situation, the president Maduro created Petro that is supposed to represent the oil reserves of the country and become the new national currency. However, there are many issues with the cryptocurrency and some experts deny calling it a cryptocurrency. According to the official whitepaper, Venezuela guarantees that Petro will be accepted as a method of payment of national fees, taxes, and public services. The government also claimed that they raised more than $1 billion from the token sale of Petro. A few months later that number changed to $5 billion in the token sale. Experts believe that the government cannot have control over cryptocurrencies such as Petro and that is exactly why Petro is doomed to fail.
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- The City Of Graz Opens A Cancer Research Laboratory That Will Use Smart Contracts On The Blockchain
- DLT Use Cases: IBM Files A New Patent Application For Open Scientific Research On The Blockchain
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