Welcome to the first 2020 edition of Blockchain Descomplicada!
The Blockchain Desk wishes all a happy new year and that our chain grows in 2020!
For the third year in a roll, we will keep spreading the word about the blockchain technology through our newsletter, bringing to you the main legal, social, technological, and, sometimes, polemic news of the crypto world.
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Back to Square One
With the popularization of the blockchain technology through Bitcoin, several criticisms arose (sometimes ill-founded) about the cryptoasset that mislead the public. In this issue, we recommend the text “The 9 biggest Bitcoin’s myths that need to be debunked”, published by the Blockchain Council, which discusses, in an objective manner, nine rumors widely spread about bitcoin and why they are fake.
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Cryptoassets investors that used Quadriga CX ask for the exhumation of the ex-CEO’s body – As reported in many of our newsletters and our 2019 retrospective, after the events that involved the death of the Quadriga CX CEO, the company has been in the middle of many lawsuits, audits and came to the point of filing for bankruptcy. On this year, the lawyers of the investors that lost their assets with the CEO death, claimed the exhumation and autopsy of the body to the Canadian authorities to certify the identity and the cause of death. According to the lawyers, the request is due to questionable circumstances surrounding the death of the ex-CEO. (THE NEW YORK TIMES, 12.17.2019)
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The European Central Bank creates proof-of-concept for its future anonymous transactions – The European Central Bank developed a proof-of-concept to its digital currency that seeks to join privacy with compliance. The initiative, developed in the Corda platform, is based on the use of anonymous vouchers by users that perform small transactions and, because of that, do not need to disclose their identity. However, for material transactions, it would not be used the same privacy conditions. The PoC involves the Central Bank, two intermediaries, and an anti-money laundering authority. (THE BLOCK, 12.18.2019.)
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Iran, Turkey, and Malaysia discuss the possibility of creating a Muslim cryptoasset – In a meeting with the main leaders of Muslim countries in the event “Kuala Lumpur Summit 2019”, the president of Iran, Hassan Rohani, proposed the creation of an unified Muslim cryptoasset, to reduce the reliance on the American dollar and resist to the effects of market fluctuation. According to Rohani, Muslims should be articulating measures to fight dollar domination and the North-American financial standards. (NEWS BITCOIN, 12.21.2019.)
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The Brazilian Securities and Exchange Commission (CVM) is analyzing the possibility of using blockchain to the investor’s single registry – The CVM is studying the feasibility of establishing a blockchain-based solution to share data between brokerage firms. The solution, called “open broker”, similar to the idea of open banking, was proposed by the report Cadastro de investidores: Desafios Operacionais, Inovações Tecnológicas e Propostas. The report pointed out issues for registry and data verification, such as the need for reconciliation and the rework to check the data. The open broker will allow the record of the user in only one app or institution and the share of data with other brokerage firms, subject to prior authorization. (COINTIMES, 12.19.2019.)
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Baidu’s searching platform launched its cryptoasset – Ahead of the Chinese digital currency Yuan launching, Baidu launched a public beta version of its cryptoasset, named Xuperchain. In its whitepaper, the company states that the role of the cryptoasset is to help China modernize its governance capacity. The technology used complies with Chinese regulation and will be used as a model of masternodes to high-performance in the blockchain platform. (DECRYPT; 01.06.2020)
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IBM and Farmer Connect are developing a blockchain-based app – IBM and Farmer Connect, developer of technologies in blockchain to agricultural supply chains, announced the launching of an app that tracks the production network of coffee up to consumers. The app will be called “Thank My Farmer” and will allow the consumers to track the coffee beans and attest product quality. To view the information, users will need to scan the packages’ QR Codes. The launch is scheduled for the beginning of this year. (TOKENPOST, 01.07.2020).
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The Bahamas Central Bank launches the pilot of digital currency, the Sand Dollar – The Sand Dollar pilot project, Bahamas digital currency, fwas launched, at first, in the district of Exuma. The residents will receive governments’ digital wallets to facilitate the payments in the country’s platform. The bank, however, states that the new currency is not a cryptoasset, stablecoin or competitor of the Bahama’s dollar, but a digital version equivalent to the physical currency. (COINDESK; 12.26.2019)
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Blockchain Desk Recommends
The cryptoassets market has grown significantly, showing a great capacity of change in an accelerated manner. In this issue, we recommend reading the article “Why 2020 will be a big year for crypto“, written by Peter Johnson, which indicates the 15 most significant advances expected to the year 2020 in the blockchain technology sector.
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