01 February, 2021
- Nasdaq Listed Crypto Mining Firm Marathon Patent Group Just Invested in $150m of Bitcoin to HODL as Reserve Asset
- Payments Giant Visa to Introduce Cryptocurrency Trading on Platform
- Blockchain-aided National Voting Trials to Begin in India
- SBI Holdings and SMFG to Launch Blockchain-based Digital Securities Exchange in 2022
Nasdaq Listed Crypto Mining Firm Marathon Patent Group Just Invested in $150m of Bitcoin to HODL as Reserve Asset
Nevada-based crypto mining firm, Marathon Patent Group has recently purchased more than 4.8K of Bitcoin (BTC) through the New York Digital Investment Group to HODL as a reserve asset.
Merrick Okamoto, CEO & Chairman of Marathon Patent Group, believes that hodling BTC is a better long-term investment strategy than US dollars. Okamoto further stated,
“By purchasing $150 million worth of Bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class.”
The group grew its operations in 2020 expansively, allegedly to become the largest BTC miner in North America. Okamoto expects to have over 100K miners fully deployed by the first quarter of 2022, stating:
“If all miners were operational today, based on the Bitcoin network’s current difficulty rate, we would produce approximately 55-60 bitcoins per day”. He further added, “However, by leveraging our cash on hand to invest in Bitcoin now, we have transformed our potential to be a pure-play investment into a reality. “
Source | Cointelegraph
Payments Giant Visa to Introduce Cryptocurrency Trading on Platform
Alfred Kelly, CEO of Visa Inc, recently revealed the payments giant’s plan to launch cryptocurrencies trading on its platform. Quoting cryptocurrencies becoming “a recognized means of exchange.”, Kelly reported that the firm has no reason not to add crypto into its network.
Visa’s global presence as a trusted brand also will enable cryptocurrencies on its platform a safe addition, given the firm’s unique position. Visa will segment its platform crypto into cryptocurrencies and digital currencies (e.g, stablecoins and central bank digital currencies (CBDC) and will be viewed as digital gold, meaning that they will be treated like assets rather than a payment form.
Kelly further stated,
“Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their Visa credentials or to cash out onto a Visa credential to make a fiat purchase at any of the 70 million merchants where Visa’s accepted globally.”
Source | Bitcoin.com
Blockchain-aided National Voting Trials to Begin in India
The Election Commission of India has worked with researchers from the Indian Institute of Technology Madras to create a secure blockchain-aided voting system. As explained by the former Senior Deputy Election Commissioner, Sandeep Saxena,
“After a voter’s identity is established by the system, a blockchain-enabled personalised e-ballot paper will be generated. When the vote is cast, the ballot will be securely encrypted and a blockchain hashtag generated. This hashtag notification will be sent to various stakeholders, in this case, the candidates and political parties.”
Saxena further clarified that voters would still have to vote at a designated polling area rather than at a polling region station. However, given that the blockchain-aided national voting system is at trial stage, voters who wish to vote via the system would need to make prior arrangements with respective bodies.
Source | Cointelegraph
SBI Holdings and SMFG to Launch Blockchain-based Digital Securities Exchange in 2022
In collaboration with Sumitomo Mitsui Financial Group (SMFG), SBI Holdings is building a blockchain-based digital securities exchange.
To launch the exchange, SBI and SMFG is partnering to set up an operator – Osaka Digital Exchange (ODX) with SBI holding a 60% while SMFG will hold 40%. The new exchange will also use a proprietary trading system as an electronic trading venue to allow for trading not within a traditional public exchange.
The new digital stock exchange will compete with the Tokyo Stock Exchange, historically the world’s third-largest stock exchange. Specifically, the new exchange seeks to offer an alternative to the TSE after the exchange experienced a major outage triggered by a system glitch in September 2020.
Although the new exchange is expected to roll out in spring 2020, the handling of digital securities will only go live in 2023.
Source | Cointelegraph