New York City makes a bold move in the middle of the bear market after the NYC Economic Development Corp. opened a new blockchain center which is 4,000 square-feet big according to Bloomberg crypto news reports.
The chief strategy officer at EDC Ana Arino says:
“We are playing the long game. It’s a nascent technology, so there’s bound to be uncertainty around this evolution from year to year. While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.’’
The new massive Blockchain Center is located in the Flatiron district in downtown Manhattan where multiple crypto and tech startups have their headquarters including the New York’s silicon alley tech hub. The center will provide coding classes and other ways of passing knowledge on the importance of blockchain and distributed ledger technology.
New York City provided a $100,000 investment but other companies invested as well such as IBM and Microsoft.
According to MIT technology reviews, blockchain is supposed to become mainstream in 2019 so much that it will become ‘’boring.’’ Over the years many companies started exploring the benefits of the blockchain system such as Walmart and Carrefour in order to provide better tracking of the products and improve food safety.
Becoming mainstream isn’t surprising at all since even the Rockefeller family’s venture-capital company announced that it will be investing in blockchain startups. The family is one of the richest families in the world and their decisions influence many investors and companies. They are not interested in making short-term profits, therefore, they will focus on using the blockchain technology to make long-term ones.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
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