This week in FinTech we have stories from movie releases and hospitals to 7-Eleven and Whatsapp.
Over the weekend,
Decrypted, a cryptocurrency-funded film about the infamous Satoshi Nakamoto, was released. It is a dark comedy about a fictional NSA kidnapping of the bitcoin creator in the hopes of destroying all cryptocurrencies.
Cyprus hospital began storing COVID-19 test results on the blockchain. VeChain, a blockchain tracking platform, announced that it went live, stating that it would make it easier for citizens to prove their health in order to resume daily activities.
The former vice-chair of the People’s Bank of China’s National Council for Social Security Fund announced that the Digital Yuan’s back-end infrastructure is now complete. They are currently testing the Central Bank Digital Currency (CBDC) and lawmakers are already drafting laws to help the implementation of the new currency.
Paypal has started hiring cryptocurrency and blockchain experts and engineers. This has sparked rumors all over the community about the payment services giant potentially enabling cryptocurrency purchases.
KPMG, one of the big four auditing firms, launched Chain Fusion. This product combines traditional finance and blockchain technology data in one, organized system.
The Italian Banking Association approved general guidelines about digital currencies. It is hoping for a “European-level initiative” and is promising to participate in projects and experiments surrounding potential CBDCs.
LibertyX enabled BTC purchasing at 7-Eleven, CVS, and RiteAid. A customer can now buy bitcoin in cash at around 20,000 of these stores.
Many institutions are looking to blockchain-backed digital identity methods amid COVID-19 outbreak. Will this accelerate global blockchain adoption? Many analysts believe that COVID will launch us into a new tech era.
Sveriges Riksbank, Sweden’s central bank, released a 98-page analysis and review of CBDC’s, using its own for reference. The E-Krona is entering its pilot program phase.
Whatsapp’s payment pilot program in Brazil was suspended by their central bank. The central bank attributes the decision to wanting to preserve its current competitive environment.
Australia announced that people can now purchase BTC at around 3,500 Aussie post offices. They hope to encourage bitcoin adoption by allowing in-person purchasing.
FC-Barcelona Fan Token hit 2.5 million USD trading volume in 24 hours, just days after its initial sale. Its purpose is to give fans more of a say in the team’s management.
After announcing on Wednesday that Venezuelans could now buy passports with BTC, the government suspended the payment method with no explanation. Some believe it might be a temporary mishap or a testing error.
VeChain will be verifying Nike shoes’ authenticity for Australia’s Chase Shiel. The custom shoe-maker plans to verify its licensed Nike shoes in real-time to ensure its products are 100% authentic.
For more information on these stories, visit:
Satoshi Nakamoto Film: https://news.bitcoin.com/satoshi-nakamoto-crypto-new-movie-decrypted/
KPMG and crypto management: https://www.coindesk.com/big-4-auditor-kpmg-crypto-asset-management-tools
Italian banking and a digital Euro: https://currency.com/italian-banking-association-approves-the-development-of-a-digital-euro
Sveriges Riksbank review: https://www.riksbank.se/globalassets/media/rapporter/pov/engelska/2020/economic-review-2-2020.pdf
Whatsapp back-track: https://techcrunch.com/2020/06/23/brazil-orders-to-suspend-whatsapp-pay-week-after-rollout/#:~:text=Brazil%2C%20the%20second%20largest%20market,the%20latest%20setback%20for%20Facebook.&text=Failure%20to%20comply%20with%20the,to%20fines%20and%20administrative%20sanctions.
Australian post offices: https://asiatimes.com/2020/06/australians-can-pay-for-bitcoin-at-post-office/
Venezuelan passport mishap: https://atozmarkets.com/news/bitcoin-payments-venezuelan-passport-reportedly-disabled/