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Unveiling the Impacts of Covid-19 Within The Crypto Economy

crypto economy

June 19, 2020

  1. Cambodia Passes White Paper, Plots Dollar-Free Futures With Blockchain-Based Payments
  2. “China Controls Bitcoin,” Says Trump
  3. Satoshi Nakamoto Kidnapped and Tortured by NSA to Destroy Crypto Economy?
  4. DigiFinex AMA Live: Unveiling Covid-19 Impacts with Alternative Data of crypto Economy

Cambodia Passes White Paper To Plot a Dollar-Free Future With Blockchain-Based Payments

Image Source: Nick Chong, Pexels

The National Bank of Cambodia revealed the technical details of its upcoming blockchain-based payments system dubbed ‘Project Bakong’ this week. 

The central bank, which has been building Project Bakong since 2017, views its quasi-digital currency project as a high-tech revamp of the Khmer Riel, Cambodia’s official currency but hardly its de facto cash choice, as locals have favored the U.S. dollar for decades, according to the white paper published Thursday.

“Transaction throughput is between 1,000 and 2,000 transactions per second,” depending on tech specs, the central bank said in the white paper.

That permissioned blockchain will work between Bakong accounts and traditional accounts, record transactions on a distributed ledger, reach consensus via the block voting hash-based “Yet Another Consensus” algorithm, and process transactions in five seconds or less, according to the white paper.

Bank officials are already moving to oust the U.S. dollar: Last month, the central bank announced plans to phase out $1, $2 and $5 banknotes by the end of August.

Quasi-digital currency Cambodian officials have been hesitant to label the fiat-backed Project Bakong a central bank digital currency (CBDC) in the past, instead of calling it a blockchain payments system.

The central bank said Bakong will help challenge the dollar’s reign by inducing Cambodians to pay instead via QR codes and a mobile app, with a Hyperledger Iroha blockchain facilitating real-time fund transfers between e-wallets plugged into their bank accounts.

Source: CoinDesk | Image Source: 

“China Controls Bitcoin” Says Trump

Image Source: BBC.news

Indeed, Trump’s administration has supported bitcoin and Ethereum — at the expense of American-made crypto currencies. An anecdote in Bolton’s book reveals that President Trump has a distaste for bitcoin dating back to at least May 2018, when the President chastised Treasury Secretary Steven Mnuchin’s approach to China trade negotiations. This has happened even as China has tightened its grip on bitcoin and ether mining. 

Source: Forbes | Image Source: 

DigiFinex Live AMA | MDT: Unveil Covid-19 Impacts with Alternative Data

Satoshi Nakamoto Kidnapped and Tortured by NSA to Destroy Crypto Economy?

Image Source: Bitcoin.com

An outrageous and provocative dark comedy about a mismatched NSA team who kidnap the creator of Bitcoin ⁠— Satoshi Nakamoto ⁠— and attempt to torture him for the information they need to destroy crypto-currencies.

Decrypted, a new crypto movie about Satoshi Nakamoto, the mysterious creator of Bitcoin, is in production. In this “outrageous and provocative dark comedy,” Satoshi Nakamoto is kidnapped by the NSA and tortured for information that could help the government destroy cryptocurrency.

Satoshi Nakamoto in New Crypto Movie A new movie about cryptocurrency and Bitcoin’s creator, the mysterious Satoshi Nakamoto, is in production.

Categorized as a comedy on IMDB, the movie “Decrypted” is written by Mick Sands and directed by Tom Sands. The movie’s description on IMDB reads: The role of the creator of Bitcoin, Satoshi Nakamoto, is portrayed by Akie Kotabe, who played a leading role opposite Oscar-nominated actress Salma Hayek in the 2014 action thriller Everly.

Decrypted also stars Sophia Myles from Transformers: Age of Extinction, David Hoflin from Z: The Beginning of Everything, Emilia Fox from Silent Witness, Don Gilet from The Stranger, and Kevin McNally from Pirates of the Caribbean.

Source: Bitcoin.com | Image Source: 

DigiFinex AMA Live: Unveiling Covid-19 Impacts with Alternative Data of Crypto Economy

Image Source: Ivan Samkov, Pexel

According to research from Greenwich Associates, 72% of global buy-side firms say alternative data has enhanced their signal. That is why Measurable Data Token (MDT) is founded. With adoption of alternative data on the rise, stakeholders across financial services firms are rushing to get their hands on quality alternative data sources to help inform their investment decisions.

Measurable Data Token (MDT) is a blockchain-built, decentralized data exchange economy that empowers users to monetize and control their own data, while providing data buyers a more efficient trading model.

It is a blockchain-built, decentralized data exchange economy that empowers users to monetize and control their own data while providing data buyers a more efficient trading model. The MDT ecosystem has launched two products: MyMDT Data Wallet, a user-oriented data wallet dapp for individual users to get rewards for sharing anonymous data, a Top 5 Dapp on Ethereum.

DigiFinex will be holding a live AMA session with MDT on 24 June 2020, Wednesday 16:00 SGT

Source: DigiFinex | Image Source:

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