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South America: Crypto and Blockchain News Roundup, 7th to 13th December 2018

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Venezuela

Government starts converting pension payments to Petro: The government of Venezuela has started converting pensioners’ payment to state cryptocurrency Petro, away from the national currency Bolivar without taking them on board. The move is part of latest measures by the Nicolas Maduro-led government to power through Petro cryptocurrency into the national fold.

According to local daily Caracas Chronicles, the country’s pensioners were notified of the move only after the funds were converted. The government’s message indicated that the funds were now in the state’s cryptocurrency for savings purposes.

According to the local publication, originally, bolivars were sent to the pensioners but the government unilaterally converted them into the allegedly oil-backed cryptocurrency.

The Venezuelan government has been trying to push for Petro adoption for months despite serious issues regarding its operation, circulation and government’s control on the affairs. Other countries and trading partners including India and Russia have also refrained from using the cryptocurrency for international payments.

Brazil

Blockchain Academy co-founder optimistic about crypto regulation: Rosine Kadamani, the co-founder of the Blockchain Academy based in Sao Paulo, has expressed optimistic views regarding the future of cryptocurrency regulation in the country.

Speaking with the local media, Kadamani said, “It is not possible to predict how this will happen in the short and medium term, as we have many variants in this process, but I can assure you that the technicians who are currently meeting (from the government and from the crypto ecosystem) are immensely qualified and very knowledgeable well the subject. The good seeds were planted, so I have a very positive view on the future of this relationship.”

Kadamani further predicted that 2019 might be a difficult year for cryptocurrencies but eventually, positive things can be expected from the industry overall in the future.

Exchange in $35 million transfer blunder: A local cryptocurrency exchange based in Brazil accidentally sent USD 35 million to a user who only requested a withdrawal of USD 127. The exchange in question is Bitcambio and the news was broken by local news outlet Portal do Bitcoin.

According to the news, the user Kaique Nunes soon received frantic calls from the exchange’s support to send back the extra USD 34.473 million.

According to Rodrigo Souza, an administrator at the exchange: “People, the mistake really happened. Kaique will be reimbursed for all the costs he has to go to the notary’s office to solve this shit. The note is already being canceled.”

Chile

Chile court says banks can ban crypto exchanges: Top Chilean court has finally ruled in favor of the state-owned Banco Estado and has declared that banks have the authority to shut down banking accounts as they see fit. The ruling overturns earlier decision by a lower court that forced the bank to open the accounts during the trial itself.

The affected cryptocurrency exchange, Orionx, had filed the complaint earlier this year when Banco Estado closed its account without prior warning. The court cited the bank’s concerns regarding its ability to monitor transactions and identities of cryptocurrency traders the reason behind this decision.

The ruling said: “These characteristics and elements determine, therefore, the current impossibility for the Bank to comply with the aforementioned obligations, since it prevents it from knowing in depth the financial activities related to cryptocurrencies developed by the appellant, the most relevant characteristics of its operations, the foundations on which these are supported and, finally, if their amounts are excessive or not.”

It is yet to be seen how the cryptocurrency market will react to the ban.

 

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Church’s Chicken in Venezuela Accepts Dash Amid Hyperinflation Crisis

Church's Chicken in Venezuela Accepts Dash Amid Hyperinflation Crisis

Fast food outlet Church’s Chicken in Venezuela is taking the leap and has begun accepting Dash, the #1 X11 cryptocurrency, and the #16 cryptocurrency on CoinMarketCap overall.

In Venezuela, the native fiat currency, the Sovereign Bolivar (VES), is becoming more difficult to use with each passing week. The inflation rate is at 444,000% per year, based on six months of data from the Café Con Leche Index, where someone buys the same cup of coffee at the same shop in Caracas to gauge Venezuelan inflation. Since this data averages in lower inflation rates from months ago, the true inflation rate is already near 1,000,000% per year. This makes it unsurprising that people are ditching the native VES for other more stable currencies.

Dash has not been particularly stable this year relative to the US dollar, nor has any other cryptocurrency been stable in that relation for that matter. However, it compares far more favorably compared to the VES. Accepting bolivar almost guarantees merchants lose value every hour they hold, with a single day’s inflation capable of wiping out profit margins. Citizens have been exchanging VES for goods or other currencies and assets as fast as possible. Merchants like Church’s have been pricing their menu items in US dollars to mitigate inflation risks.

By accepting Dash, Church’s Chicken can now operate with less stress and actually store their money instead of immediately running out the door and exchanging it for other currencies, goods, or assets.

The choice of Dash is interesting, considering that the Petro, the official national cryptocurrency of Venezuela, is supposed to be a Dash clone. The reason the Venezuelan government chose Dash is that it uses masternode technology which makes transactions highly anonymous and therefore useful for circumventing international sanctions. However, all evidence indicates the Petro is not a cryptocurrency, rather it seems to be a non-fungible paper certificate.

The current situation in Venezuela could lead to widespread and permanent cryptocurrency adoption across the South American nation. Some economists believe it offers a glimpse into what would happen in the future if fiat currencies collapsed worldwide.

 

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12 Days of Coinbase Targets Venezuelan Border Town

12 Days of Coinbase Targets Venezuelan Border Town

The traditional 12 days of Christmas started yesterday crypto-style with Coinbase using the song to promote its worldwide services, focusing Day 2 on Venezuelan families in need.

In tune with the season of goodwill, the global exchange giant based in San Francisco, California, has promised to make an announcement that will profit someone each day leading up the big day itself.

Day 1 saw Coinbase announcing that users could buy gift cards so that family and friends could get some Uber, Adidas and Nike surprises through its U-gift program. For those hoping that materialism of this kind was a little too “Christmas Carol” for a multi-national, they have pushed the boat out a bit more on the second day with a gift which feels more befitting a company with such huge profits.

Venezuela continues to somehow avoid major news networks despite a humanitarian crisis there which is gradually becoming more intense by the day.

With a virtually non-existent virtual currency, the Petro, doing absolutely nothing to lift the economy, and inflation rising at alarming rates, eclipsing Germany in the Second World War, nationals are fleeing to neighboring South American countries for refuge. Venezuela is not in good shape, despite Bitcoin donations pouring in to alleviate pressure on some families. The local currency the Bolivar is now almost worthless.

Coinbase is donating USD 10,000 in ZCash (ZEC) to GiveCrypto.org, a nonprofit organization that distributes cryptocurrency to people living in poverty. The idea is that courtesy of Coinbase, GiveCrypto.org will donate USD 1 a day to the wallets of over 100 families living in the Venezuelan border town of Santa Elana de Uairen, located in Bolívar state near the border with Brazil and Guyana.

Recipients can spend their donated crypto on basic supplies and food over a period of three months in Santa Elana de Uairen. The USD 1 worth of crypto a day will allow families to buy 1-2 kilos of protein or 2 kilos of starches and vegetables every day.

 

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North America: Crypto and Blockchain News Roundup 30 November-6 December 2018

North America

North America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Cuba

Mobile Internet Expected to bring Cryptocurrencies to the Public: This month marked a new development in the average Cubans’ life as mobile internet became a reality in the country and with it comes the promise of cryptocurrencies. Cuba has had some of the worst internet censorships in the world, far worse than China but eventually, the country is now being opened up for investment and innovation.

Nearly half of the 11.2 million residents in the country have mobile phones and can afford internet access. Cryptocurrencies can improve the microeconomic situation in the country but it remains to be seen how the government and people will react to it.

Canada

Cryptocurrency Mining Discussed in Canada: Canada is one of the most progressive countries when it comes to cryptocurrencies and blockchain adoption, but the recent issues regarding the mining companies are re-igniting the debate on the sector because of its power consuming nature.

There are considerable environmental issues when it comes to mining cryptocurrencies and while studies have shown that cryptocurrencies are more likely to use renewable resources, the debate still goes on.

United States of America

Bill Introduced to Save Investors from Market Manipulation: A recent bipartisan US bill tabled in the House of Representatives intends to protect cryptocurrency investors from market manipulation. The bill was proposed by Democratic congressman Darren Soto (Fl) and Republican Tedd Budd (NC).

The bill has been named Virtual Currency Consumer Protection Act and direct Commodities and Futures Trading Commission to start action against price manipulation especially pump and dump cryptocurrency schemes.

The bill also intends to help the industry by undergoing a study of crypto regulations in other countries and recommending ways to make the US more competitive for blockchain companies.

Ohio University Announces Blockchain Hub: A top private university in the capital of Ohio has a new blockchain group called the Cleveland Blockchain and Digital Futures Hub.

The Case Western Reserve University (CWRU’s president Barbara Snyder announced the project during the maiden Blockland Solutions Conference in Ohio this week. The conference aims to turn the state into a regional center for blockchain technology.

The newly formed hub will study cutting-edge tech like blockchain and Internet of Things in addition to Virtual Reality for future applications. It also seeks to develop applications of the technology in partnership with enterprises including academic institutions, tech accelerators and government itself.

Bill Gates Believes Digital Currencies will Help the Poor: Microsoft founder and philanthropist Bill Gates has expressed admiration for cryptocurrencies and said that digital technology has the ability to empower the most impoverished population of the world.

This is not the first time Gates has opened up regarding cryptocurrencies. Back in 2014, he said:

“Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”

Now Gates has come forward and said that the transformation of underlying economics through digitization of money can potentially help people living in poverty across the globe. The move can be seen in South America where Dash has been adopted by many people for donation-based services.

Healthcare Alliance Looking to Blockchain for Data Integrity: US Healthcare alliance that consists of seven biggest healthcare companies is exploring the option to improve data quality within its systems according to a report in Modern Healthcare.

The primary objective of the alliance is to look for ways in which blockchain can be used to improve data quality and help lower administration costs.

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South America: Crypto and Blockchain News Roundup 30 November – 6 December 2018

South America

South America

Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.

Brazil

Major Crypto Events Held in Brazil: The recent month of November saw two main cryptocurrency related events taking place in Brazil including Blockmaster Forum in Sao Paulo and the Traditional Bitconference in Fortaleza. 

Both events were attended by thousands of people who were interested in understanding more about the sector and invest in it. Several leading cryptocurrency entrepreneurs made keynote addresses in the events and had interesting panel discussions.

Crypto Association to Adhere to Fintech Ethics: The Brazilian cryptocurrency exchange association ABCripto helped launch the Code of Ethics and Best Practices of the Fintech segment in association with Fintech Committee of ABStartups and Brazilian Crowdfunding Investment Association (CrowdInvest).

According to a communique from the partnership, the document is part of a new self-regulatory landscape, an idea that cryptocurrency exchanges are trying hard to legitimize in the country.

Former Nasdaq CEO Launches Blockchain Services in Brazil: Kaidi Ruusalepp, former Nasdaq CEO is aiming to launch new blockchain projects in the country including Funderbeam, a three-stage platform built for the investors.

Funderbeam is closely working with the Brazilian Securities and Exchange Commission (CVM) to start operations in the South American country.

Bitcoin Regulation Bill Postponed till 2019: The newest Bitcoin legislation bill 2303/15 authored by the Federal Deputy Aureo Ribeiro which was slated to be voted on by 5 December is now put on hold till next year.

The move was made after a recent meeting of the Special Committee of Regulation of Virtual Currencies organized by the Central bank. Eventually, the members decided to withdraw the motion and cancel the immediate vote on the matter.

It is reported that further feedback from the industry including ABCB and ABCripto associations will be considered before deciding more on the matter.

Argentina

G20 Summit Puts Greater Emphasis on Cryptocurrencies: Global leaders belonging to the top G20 group of countries have put greater emphasis on the cryptocurrency side of things during a recent summit in the capital of Argentina, Buenos Aires.

The summit was attended by global leaders as well as some of the world’s largest corporations including Bank of America, Inter-American Development Bank, The World Trade Organization (WTO) and World Health Organization (WHO).

The influential leaders especially addressed the issue of cryptocurrencies and decided to work on combined regulatory frameworks for them.

Chile

Exchange Loses Case Against Banks: In a major loss to the country’s crypto sector, cryptocurrency exchange Orionx lost the right to open accounts in the state-run bank after having them closed earlier this year.

The decision was announced by the apex court of the country despite earlier assurances that the right of the exchange to have a bank account was protected under the law. The new judgement states that the bank did not violate the rules of the constitution and thus cannot be declared unconstitutional.

Venezuela

President Nicolas Maduro Wants to Use Petro for Selling Oil in 2019: Venezuela’s national cryptocurrency project Petro is once again in the news as President Nicolas Maduro has declared that the embattled country will bypass the US sanctions by using its national cryptocurrency, Petro for oil sales starting next year.

While Venezuela’s government is still facing a host of problems in getting the prized cryptocurrency project to work, there is also the issue of lack of international adopters as both Russia and India have refused to pay in Petro for their imports.

The effort to use Petro is part of a six-year financial plan by the government to mitigate the impact of US sanctions on the country’s oil-reliant economy.

 

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Internet Comes to Cuba, Will Cubans Comes to Crypto?

Internet Comes to Cuba, Will Cubans Comes to Crypto?

Thursday, 6 December 2018, marks a milestone in the history of Cuba; for the first time, residents will have access to the internet on their mobile phones, potentially to cryptocurrencies also.

With relevant news still breaking, there are no clear answers yet which cryptocurrency exchanges will be accessible in the region, although presumably there will be no firewall restrictions.

Estimates have nearly half of the country’s 11.2 million residents owning mobile phones, although the number that can afford internet access is considerably lower. The state-run telecoms monopoly ETECSA announced two internet packages. The cheapest is a 600 MB, 30-day deal for CUP 7 (Cuban peso worth about USD 0.26), compared to the average state wage which stands at USD 30 per month.

Still, this is an enormous potential for growth of the cryptocurrency industry to enter a new country if citizens are inclined to invest, which may well be the case considering the Communist-led Cuban state is thought to restrict autonomy for people’s economic lives.

One of the reasons the government has restricted access to the internet in the past is its concerns regarding information flows into the country, which it feared could lead to political dissent. This has held the country back significantly in terms of technology. Cuba’s capital city Havana, famous for its vintage American cars, shows just how far this lack of modern resources reaches.

Wi-fi access has slowly been growing across the country in recent years as small modernizations begin to appear, with internet even being offered in a few cybercafes. Mobile phone access gives rise to the opportunity of mobile banking, however, and blockchain-backed wallets.

The quality of the internet service itself and the accessibility of it for the majority of the population is still a big issue, but maybe we will be seeing the first Bitcoin accepted here sign in the city sooner rather than later.

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Maduro Raises Petro Price by 150%, Revealing Lack of Free Market

Maduro Raises Petro Price by 150%, Revealing Lack of Free Market

The President of Venezuela, Nicolas Maduro, has announced that the price of the Petro (PTR) will be increased from 3,600 Sovereign Bolivars (VES) to VES 9,000. This announcement coincided with a 150% increase in the minimum wage for Venezuelan workers.

This implicitly indicates that there is no free market for the Petro, which is more evidence that the token is not an actual cryptocurrency. Actual cryptocurrencies are traded on exchanges and their price is set by free market dynamics; centralized parties can no longer arbitrarily adjust their price after allowing their tokens to trade on the open market.

The Petro is the official national cryptocurrency of Venezuela and is supposed to be backed by oil. An in-depth study published on Reuters found that the oil backing PTR is, in fact, a speculative reserve located underground near the town of Atapirire. There is no drilling infrastructure in place for this oil and it is unlikely to be brought to the surface for many years. Further, the Venezuelan government has presented no evidence as to how the Petro is actually linked to oil reserves.

The fact that the Venezuelan government can set the price of the Petro is just the latest piece of data among an array of evidence which suggests the token is not a genuine cryptocurrency. The Petro block explorer has no block or transaction data, besides a block counter at the bottom which does not correspond to its 1 block per minute settings. Also, the wallet for the Petro is unavailable at this time, making it impossible for anyone to download and run a node.

Those who have bought PTR received a paper certificate but no actual cryptocurrency. It appears the Petro is just another form of fiat currency easily printable by the Venezuelan government. This is further proven by Maduro’s decree that only Petro purchased in 2018 can be exchanged for fiat or other cryptocurrencies, with a ban on trading for tokens purchased in 2019 and beyond. It would not be possible for Maduro to do this with a fungible cryptocurrency, since each unit of a fungible cryptocurrency is indistinguishable from the rest of the circulating supply. It is only possible to enact a ban like this for non-fungible paper certificates.

That last point ties right back into the subject of this article. If the Petro were a fungible cryptocurrency, then there would be trading pairs for it on cryptocurrency exchanges, and Maduro would not be able to set the price. All evidence indicates that the Petro is not a cryptocurrency and is a non-fungible fiat currency.

 

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G20 Calls for Universal Crypto Taxation Rules

G20 Calls for Universal Crypto Taxation Rules

Cryptocurrency and taxation have found their way among the main headlines coming out of the latest 2018 G20 meeting in Buenos Aires, alongside further commitments to fight climate change.

The G20 has now announced the desire for universal cryptocurrency taxation legislation to cover all jurisdictions within its remit with the body planning to regard itself as a “huge IT company” going forward. New laws governing the taxation of cryptocurrencies would also include further regulation as promised earlier in the year.

The current problem, which will clearly need to be overcome by some lateral and innovative thinking, is the role of international law in matters of taxation, as current ones do not allow most countries to tax companies without physical bases in that specific country. In the new declaration to commit to a cross-border crypto tax system, the G20 stated:

“We will seek solutions for the international taxation issue accompanying the digitization of the economy and will continue to collaborate.”

Previous G20 meets had already raised the topic; in its July report, the body’s Financial Stability Board (FSB) noted that previous analysis of crypto-asset markets, which included initial coin offerings (ICOs), had brought forth awareness surrounding significant challenges such as rapid market development, lack of transparency (with regard to identity and location of token issuers), as well as governing laws for white papers and gaps in data.

There continues to be some consensus from within the group representing the 20 nations about the value of innovation, although this may be limited to the respect currently being shown for the current impact of DLT and AI in the fintech space and elsewhere. The G20 has asked for further investigations to be launched in cryptocurrencies when Japan takes over the helm as chair in 2020.

Regarding cryptocurrency, the G20 repeatedly cite taking actions which are “balanced between preserving the benefits of innovation and containing various risks, especially those for consumer and investor protection and market integrity” but again AML legislation will be a focus with Japan as the next chair.

As is frequently in the case regarding the G20, it is a matter of getting all members on the same page, particularly given the current political friction between some of the member states. Europe and the UK are interested in developing such a program that they feel could combat money laundering and fraud, particularly in the case of larger organizations, but Japanese news agency Jiji has indicated that the USA and China are far more reticent to endorse such a move.

 

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North America: Crypto and Blockchain News Roundup 23-29 November 2018

North America

North America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news, continent by continent and country by country.

United States

Federal Reserve Bank Blames Bitcoin Futures Markets for BTC Price Decline: The Federal Reserve has officially blamed the launch of Bitcoin Futures Market for the recent decline in Bitcoin’s price according to a letter published on its website.

According to the online publication, Bitcoin Futures launch on December 17 last year converted the biggest bitcoin bull into a bearish situation. The Fed also goes on to make comparisons with falls in other assets’ prices after the launch of futures markets including the mortgage industry whose uptick was neutralised by the launch of mortgage securities. The dollar issuer then goes on to say that the Bitcoin could have kept rising past $20,000 if the futures had not been launched.

Federal Government Places Sanctions on Bitcoin Addresses: The United States has issued sanctions against several Bitcoin addresses as a first in the country. According to the government, the addresses were set up by two Iranians to help a ransomware scheme.

The sanctions were issued by the United States Treasury Department Office of Foreign Assets Control. People in the US and partnering entities are now banned from sending BTC to these addresses.

Lettuce Outbreak Results in FDA Seeking Blockchain Solution: A recent lettuce E. Coli break has resulted in the Food and Drug Administration (FDA) to seek a blockchain-based solution for food tracking in a supply chain. 

According to Dr. Scott Gottlieb in a CNBC interview, the FDA had requested that a food safety expert formerly of Walmart to act as a food and veterinary medicine supply commissioner. Dr. Gottlieb continued on and said that the new addition will help the administration to introduce new tools for tracking food, with blockchain being looked at as a viable solution.

Court Overturns Security Designation of ICO by SEC: In one of the first ruling of its kind, a judge of the Southern District of California has declared that the security classification by SEC on an ICO was not justified. 

ICO Blockvest had been walking a tightrope when it came to security designation from the SEC, but never explicitly broke the rules according to the judgment. While the decision is unique and first-of-its-kind, the ICO is still not exonerated as other charges remain on the project.

USD Tether Restarts Direct USD Redemption: USDT is slowly returning back to its best as the stablecoin company has announced that the direct redemption of the silverback is set to be re-enabled after months of issues that even affected the price of USDT against USD in the open market.

Tether currently is the top stablecoin in the market with over $1.8 billion market cap and it is ranked seventh on cryptocurrency market cap tables.

Mexico

Blockchain Association Formed With Consensys as First Member: The Central American country has seen the formation of the first blockchain association with ConsenSys starting the rostrum as the founding member.

According to Forbes Mexico, the new association has members who represent the fintech facet of the industry. Several local exchanges and hedge funds have found a seat on the table including Bitso, Volabit, Lvna Capital, etc in addition to ConsensSys.

Canada

Air Canada Partnering to Develop Blockchain Travel Solutions: Air Canada, the national flag carrier of the country is now partnering with a blockchain firm for developing a distribution system based on Blockchain technology.

Winding Tree, the partnering DLT company has created an open source blockchain marketplace where agents can arrange flights at their own commission rates.

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South America: Crypto and Blockchain News Roundup, 23rd to 29th November 2018

South America

South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Expert predicts Bitcoin will fall before going on bull run: With the Bitcoin price index reaching record low levels for over a year during the last few weeks, one Brazilian cryptocurrency trading expert has predicted that the Bitcoin bears will continue their run before future price consolidation.

Courtnay Guimaraes, a partner at trading company Idea Partners, believes that 2018 was largely a bear market and it will probably continue till the end of the current year because of various challenges to the sector. But despite the short-term negative outlook, Guimaraes believes that the cryptocurrency market will come out stronger than ever.

Study points out challenges for Bitcoin adoption in Brazil: According to a recent study conducted by the International Data Corporation (IDC), Brazil is still struggling to adopt blockchain technology and its applications in different sectors.

The survey revealed that a majority of Brazilian companies aren’t working with the decentralized technology and many do not intend to develop such technologies in the near future. Only a paltry 4% of the companies have made some progress in the sector according to the IDC survey while cloud applications have had 80% success rates in recent times.

While the results may not be that encouraging for the blockchain sector, this waiting position when it comes to innovation and advancement is quite common in the Brazilian sector. If the blockchain adoption becomes universal, then the local Brazilian startup should quicken the pace of adoption as well.

Athlete looking to compete in Tokyo 2020 Olympics after Bitcoin sponsorship: A Brazilian athlete looking to compete in the 2020 Summer Olympics to be held in Tokyo has successfully received sponsorship in BTC by a cryptocurrency exchange.

3xbit, a Brazilian exchange, sponsored Mikhail Luiz, a karate national champion in the 75 kg category to realize his dream. Some less popular sports are not funded properly by the government and athletes are forced to get their own sponsorships from companies to train. Luiz will become the first athlete to be sponsored with a Bitcoin exchange to compete in the Olympics.

CVM plans decentralized system of unique IDs for crypto investors: The Brazilian Securities and Exchange Commission (CVM) is looking to create a single database of the country’s cryptocurrency investors using a decentralized approach.

According to the news broken by Valor Economico, the top regulatory authority is planning to integrate the data with the Central Bank (BC) and Superintendent of Private Insurance. The project will use Microsoft Azure for the purpose. A partnership with the Institute of Technology and Society of Rio (ITS Rio) has already been signed by the regulator.

Argentina

Bitcoin ATMs plan hits snag: An ambitious plan by the government to open thousands of cryptocurrency ATMs across the country has been postponed by the government.

Two ATM companies including Odyssey group and Athena Bitcoin had announced several hundred new Bitcoin ATMs in the country but now their ambitious plans are postponed due to the interference of the central bank’s local market partners.

Cryptocurrency ATMs are likely to bring an alternative investment opportunity for Argentinians to circumnavigate rampant inflation but their lack of presence in the country may prove to be a challenge.

Venezuela

Crypto bill approved for validating Petro and its circulation: A new bill has been passed by the Venezuelan Constituent Assembly that validates the status of Petro and its regulation.

The new law with its 64 articles and five transitory positions proposed by the president himself is now officially recognized as a unit of commercial exchange.

 

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