Weekly Update #4: Crypto Salary, Bitcoin Banking And Satoshi Renaissance

Dominik Olech
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Another exciting week in the cryptocurrency world has passed. New Zealand came up with an interesting proposal for crypto enthusiasts. A similar situation happens in Latin America. And at the end of the week, we heard about new possible wannabe Satoshi Nakamoto.

Payment in crypto?

A few weeks ago, the head of Facebook Libra, David Marcus, has stated that he would accept his salary fully in cryptocurrency, if such option would be available. In the light of Libra’s unclear future, such statement was purely populistic. But now, the idea of wages paid in cryptocurrencies becomes real. At least in New Zealand, which will become the first country where such option will be officially available. 

As it stays in New Zealand Tax Information Bulletin, the new law will come to life in September this year, and allow companies to pay out salaries in prefered cryptocurrency officially. The number of coins will be based on the national currency. So the payment acquired this way will be like instant conversion of traditional money into preferred coin. 

Although the overall outcome of this solution is still unclear, there are some specific rules due to which coin will be available as a salary. To match the requirements, it should be a stable coin. Moreover, the crypto wage will be available only for full-time workers, not for freelancers. But still, it is a step for popularization of the cryptocurrencies around the world.

International blockchain banking in America

Another exciting breakthrough for cryptocurrency has happened in Latin America. Bantotal, a banking technology provider, join forces with Bitex crypto exchange to facilitate international transactions. Bantotal is currently servicing over 60 banks in the region. All of them will be available to provide their clients with a faster and cheaper alternative for cross-border money transfers.

For now, if someone wanted to make an international transaction in one of the Bantotal banks, it would take a significant amount of time. Thanks to the cooperation with Bitex, banks can now transfer cash into bitcoins, send them abroad, and finally withdraw them back into the desired currency. Manuel Beaudroit, Bitex Chief Marketing Officer, describes the system as “peer-to-peer banking”. 

Binance update

We dedicated a whole article to the last Binance leak, but the case is still ongoing, so it’s worth to add a short update. The individual who stays behind it, a hacker covered under the nickname Bnatov Platon, is still active. He keeps revealing private data of Binance users on some Telegram groups. 

Platon is also posting on his Twitter account screenshots of his communication with Binnace officials. In those conversations, he states that whole responsibility for the leak lies the exchange, not him. He has decided to reveal users’ data because he believes it will let people know the truth about the corporation. 

Nevertheless, Binance is still untouched by his accusations. The cryptocurrency exchange also has some other concerns – one of them is a temporary restriction of its activity in the USA. But Changpeng Zhao reveals that they should return on the American market“in a month or two.”

Satoshi Nakamoto Renaissance Holdings – just another fraud?

The usurpers for the title of cryptocurrency creators reveal themselves from time to time. The identity of Satoshi Nakamoto has a special place in the hystory of the cryptocurrency world. It’s still an unsolved mystery, an urban legend and sometimes a rolling joke. But again, every new proclamation in this matter gathers huge attention in our industry.

This time, it came on the website called “satoshinrh.com”, which is a shortcut for “Satoshi Nakamoto Renaissance Holdings”. That’s where the presumed Satoshi is going to reveal his whole story. The first part of it is already there – and it contains none of his actual identity. The only thing we can learn from it is that Nakamoto actually lives in the UK and comes from a banker family. He also expressed his concern about the current course where Bitcoin is going.

It seems that behind the whole affairs stands Ivy McLemore & Associates, a little known PR agency. Why Satoshi is revealing himself through it instead of simple use his account on bitcointalk reminds a mystery. But the members of the biggest cryptocurrency forum has clearly expressed disapproval for it.

The whole case looks like a blatant fraud, but it is still worth to keep an eye on it. That’s why we are preparing an article concerning the subject. As soon all information from presumed Satoshi will be reviled (the second part will come today, the last one in Wednesday), we will share our thoughts about it with you.

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