Cryptocurrency Market Updates
The US Foundation for Defence of Democracies’ (FDD) department, the CSIF (Center on Sanctions and Illicit Finance) revealed that cryptocurrencies are not suited for financing terrorist groups. The department’s director of analysis Yaya Fanusie presented this report at the US House of Representatives Subcommittee on Terrorism and Illicit Finance hearing.
According to the latest news reports, the government of the Australian state of New South Wales (NSW) is going to use Blockchain technology to digitize its driver license program that is expected to be launched in November.
French energy company is partnering with business consulting group Maltum to launch a brand new blockchain development spin-off. Dubbed as Blockchain Studio, it is designed specifically for commercial clients.
According to the Chief Executive Officer of cryptocurrency exchange Coinbase, Brian Armstrong, the number of people that will be operating in the cryptocurrency space will explode from the current 40 million to more than 1 billion in 5 years’ time.
According to the Chief Financial Officer of Goldman Sachs Group Inc., Martin Chavez, the reports that made headlines earlier this week that the company was scrapping its plans to launch a cryptocurrency trading desk are all fake. Chavez denied all rumors and reports that Goldman was not going to open a crypto trading desk at the TechCrunch Disrupt Conference in San Francisco.
Two of the top ten cryptocurrencies by market value are now trading at their lowest levels in the last one year. Ethereum (ETH) is currently trading (at the time of writing) at $228.77, down by 19.64% in the last 24 hours. This is world’s second largest crypto’s biggest drop in one year. The last time ETH traded so low was on July 30, 2017.
According to local news reports, the Iranian Secretary for the Supreme Cyberspace Council, Abolhassan Firoozabadi announced that the ministries of the government of Iran have accepted that cryptocurrency mining is a separate industry.
The Industrial and Commercial Bank of China (ICBC) is planning to now focus on Blockchain development. The bank, founded in 1984, is the biggest bank in the country, with more than 5,000 corporate as well as over 530 million individual customers.
Microsoft is slowly but surely connecting its products to Blockchain technology. The process started three years ago, when the tech giant become the first to bring this new technology to the cloud via its Microsoft Azure cloud computing division.