Weekly Update #23: Bitcoin’s Grow, Nuclear Mining, And Charity In Australia

Dominik Olech
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Another week, another news. In the time when the global political situation is getting complicated, cryptocurrencies appear to thrive.

In the previous Weekly Update, we talked more about corporations and their approach to blockchain. This week, things got more serious around the world, and the situation of cryptocurrencies reflects it.

Bitcoin is going up

For the entire world, the most thrilling topic is the situation in the Middle East. The assassination of Iranian general by the American military has tightened an already tense situation in the area. However, the turmoil between the USA and Iran caused the market to thrive – what is clearly visible on Google Trends. The Bitcoin price went up to almost $8,500, and now it keeps a relatively stable position around $8,000. It is persuasive evidence that cryptocurrencies start to be a considerable choice for people looking for stable assets for less stable times.

Recommendation for cryptocurrencies in South Korea

For quite a long time, South Korea is getting closer to cryptocurrencies and blockchain technology. This time, the positive news comes from The 4th Industrial Revolution Commission. The committee under the Presidential Office is giving guidance to the Korean government about moves leading to improvement of the technological development of the country.

As BusinessKorea reported, the Commission advised allowing financial institutions for developing and launching cryptocurrency-related products. Moreover, the committee noticed the need for guidance and licenses for cryptocurrency developers, as well as the introduction of custody solutions to make the local blockchain industry independent from foreign firms in that matter.

Blockchain elections in Virginia?

Another good news about the usage of blockchain by authorities comes from one of the United States, Virginia. The new bill in Virginia’s General Assembly requests for more comprehensive studies about blockchain-based elections and the security of such a solution. The idea was supported by Hala Ayala – a state delegate who also specializes in cybersecurity. 

The actual implementation of this idea is still nothing more than a concept, but the legislative machines started for the blockchain voting system. As for now, it awaits for an assigned committee, but it is a good step in the direction of adopting the blockchain technology in Virginia. In this way, the state is following West Virginia, where such a system of elections is already in use.

Mining facility in the nuclear plant?

Interesting news about cryptocurrencies comes from Russia. The Kalinin nuclear power plant in Udomlya, the administrative center of Udomelsky District in Tver Oblast, soon may become an important place for the market of digital assets. Rosatom, a Russian state company responsible for nuclear energy, has built a facility near the plan, which is going to be a location of high-level mining operations.

The news comes from Sergei Nemchenkov, who is ahead of data centers in one of Rosatom’s subsidiaries. According to him, the company isn’t going to mine by itself, but to rent the place and provide equipment for third parties looking for a place for mining. Of course, the main argument for setting the mining facility in Kalinin is the close proximity to the near power plant. It will provide additional electricity in which Rosatom is going to capitalize this way.

Griffith released on bail

Do you remember Virgil Griffith, who was accused of providing North Korea with the guidance of how to avoid sanctions with blockchain technology? The author of WikiSkanner and Ethereum developer was released on bail last week after being charged with conspiracy to violate the International Emergency Economic Powers Act. Prosecutors in the Griffith case requested for moving him to his parents in Alabama and keep his passport as he is considered to try to flee the country. Virgil Griffith is facing 20 years in prison for his trip on blockchain conference in Democratic People’s Republic of Korea

Zuckerberg vote for community self-governance for the digital world

After a half of a year since the announcement of Libra, Facebook’s stablecoin still remains in the bureaucratic limbo after the regulatory backlash received from the United States government. However, the company’s CEO, Mark Zuckerberg, doesn’t give up. Last year, he tries to convince the Congress for the positive impact of Libra for the American economy. His plan didn’t work, but he keeps on fighting for his cryptocurrency. 

In quite a long post on Facebook, Zuckerberg described his views on the next decade. Although he didn’t mention directly about Libra, his words about digital governance clearly referred to the cryptocurrency. According to his statement, the digital world needs oversights, yet its form is disputable. Zuckerberg believes it may be resolved by the government regulations, but he sees a more reliable solution in community self-governance. 

Binance charity for Australia

For the end of this Weekly Update, we have undoubtedly positive news. The Binance Charity Foundation has joined the fight with fires in Australia. To do so, the charity branch of Binance exchange has launched the project named Australia Bushfire Donations, and initially donated $1 million worth of BNB tokens. Binance CEO, Changpeng Zhao, encouraged the crypto community for joining the action. 

And with this positive accent, we’ve reached the end of this Weekly Update. See you next Monday!

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