Today’s Highlights: Malta passes blockchain bills into law, Viber wants to launch its own cryptocurrency in Russia & Spain’s lawmakers push for blockchain use in governance
Editors’ thoughts today:
Editor-in-chief Florin Adrian Oprea (FAO): We have some “crude” words in the media today and we tried to determine what confers validity in this “opinator’s” case. Still working on it…It’s a pretty quiet day in the world of blockchain too, except for countries like India, where investors and exchanges need to find a workaround after the ruling of the Indian Supreme Court declining to end the RBI ban. The cryptoverse will nevertheless survive, as it did in China’s case…
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John Crudele – New York Post
Bitcoin is really worth nothing since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something.
Got it! Ponzi scheme. Confidence game. Fraud. Anyway, bitcoin is headed for a value of zilch. It’s only a matter of when.
FAO: Isn’t this a form of manipulation? Oh no you would say, it’s just the guy’s opinion, got it…I hope you noticed we are doing our best to avoid both strong bullish and/or strong bearish opinions issued by various people in and around the finance world. Hopefully other media outlets will do it too. It’s intoxication…Back to the above article, I wonder if Mr. Crudele truly understands blockchain and bitcoin and if his strong knowledge validates him to issue his opinion. We can invite him to join our future meetups and summits, I am sure he could find them useful…
Meanwhile, somewhere in the Mediterranean…
Ana Alexandre – Cointelegraph
The Parliament of Malta has passed three bills into law that establish a regulatory framework for blockchain technology, local news outlet Malta Today reported. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
FAO: It’s done. Pack your bags.
Peter Ryan – CoinDesk
Take the latest State of Blockchain survey.
Allen Scott – Bitcoinist
Viber wants to launch its own cryptocurrency in Russia for its new services platform in an effort to beat its biggest rival, Whatsapp. The popular messaging app Viber is the daughter company of Rakuten, also known as the ‘Amazon’ of Japan. In fact, the electronic commerce and Internet giant is no stranger to cryptocurrencies — as it was one of the first companies in the world to accept Bitcoin in 2015.
FAO: Another messaging app, another potential coin…
Ian Allison – CoinDesk
R3 has scored another win in the insurance sector, giving the startup a wide lead over other distributed ledger technology providers in the sector. The RiskBlock Alliance, whose members include such insurance heavyweights as Chubb, Marsh and Liberty Mutual, has decided to build its first set of use cases using R3’s Corda platform.
FAO: This comes after B3i, the European reinsurance consortium, decided to switch from Hyperledger Fabric to Corda. B3i members are: Achmea, Aegon, Ageas, Allianz, Generali, Hanover Re, Liberty Mutual, Munich Re, SCOR, Swiss Re, Tokio Marine, XL Catlin and Zurich Insurance Group.
Mary McDougall – City A.M.
Conservative MP Eddie Hughes calls for the government to focus its attention on using blockchain to enable social freedom, increase efficiency and rebuild societal trust.
FAO: Brush up your resumes… The government might be needing you…
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Nicky Morris – Ledger Insight
Daimler and BBVA are interested in tokenization for their business, so they’ve started experimenting in a low-risk manner by creating blockchain tokens for staff to use. BBVA recently issued a press release about a separate project, their blockchain syndicated loan.
Nupur Anand – Quartz
The Supreme Court refused to stay a circular released by RBI which prohibited banks and financial institutions from dealing in bitcoin and other cryptocurrencies. The next hearing for the matter will be held on July 20.
Madeline Meng Shi – CoinDesk
133 deputies from the Popular Party submitted a blockchain-related proposal to the Congress of Deputies, the lower chamber of the Spanish Parliament. This proposal recommends that the government introduce blockchain “with the aim of improving internal processes and [providing] traceability, robustness and transparency in decision making,” according to public documents.
Andrea Tinianow – Forbes
Tokenizing securities, including shares of stock and bonds, can eliminate friction and create efficiencies in capital markets. But contrary to many assertions, the Delaware Blockchain Amendments (which revised Delaware’s General Corporation Law to authorize the use of distributed ledger technology for the issuance and transfer of shares) do not provide blanket authority for shares of stock of a Delaware corporation to be tokenized.
Chong Jinn Xiung – Digital News Asia
Every so often in the tech ecosystem, words like blockchain get bandied about. But what is blockchain and how does it tie with cryptocurrencies like Bitcoin? These are the questions that The NEM Foundation, a non-profit organisation incorporated in Singapore, seeks to answer.
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Wolfie Zhao – CoinDesk
An EU banking regulator has published a new report exploring the benefits and risks associated with the use of distributed ledger technology in finance. In a report that discusses the rising trend of financial technology, the European Banking Authority highlighted two banking-related use cases of blockchain: cross-border trade finance and identity authentication.
Gian Volpicelli – Wired
James Rodriguez has launched his coin. Just days before the World Cup’s kick-off, the crocked Colombian midfielder announced the creation of JR10, his personal cryptocurrency, which proud holders can parlay into “football-related souvenirs, fan club meetings and other perks related to the athlete”.
DNT: Unfortunately for the Colombian star, he got injured and could’t play in the last match at World Cup, where Colombia lost to England at penalties shootout.
On the other hand, Gian Volpicelli’s proposal: bringing cryptocurrencies to football – BitKane, Cointinho, Cristiano Ronaldoken – it’s, as he said, “a stroke of dark genius”.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News