Image of the Day, 5 of September: South China Morning Post, Reuters, Asia Times and Others
We're presenting “image of the day”. Bitnewstoday.com has chosen only the freshest and most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes are below!
1. YOU CAN MINE NOW (IBENA)
Iran recognizes cryptocurrency mining as a legitimate industry
Iran’s Supreme Council of Cyberspace (perhaps the coolest name of any government authority) has declared cryptocurrency mining will be officially recognized as an industry, at least within its borders.
Secretary Abolhassan Firouzabadi stated that the country would declare full terms of regulation and policy for cryptocurrencies and mining by the end of September 2018.
2. SAVIORS (SCMP)
Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to take on credit cards
Crypto.com, the Hong Kong-based blockchain startup behind Asia’s first cryptocurrency Visa debit card, said on Wednesday it had applied to issue cards in the city. Over the next two months, the company will ship more than 100,000 cards to customers globally, starting with Singapore.
In rolling out the Visa debit card, the company is offering a new instrument for an untapped market. “Not all exchanges support crypto-to-fiat transactions, and even if you hold your digital assets at the exchanges’ wallet, the withdrawal process is also complicated. We believe our product addresses a real need and enhances trust in digital assets,” said Kris Marszalek, Crypto.com co-founder and chief executive.
3. NOT IN VAIN CHOSE (EL TIEMPO)
New Colombian President Welcomes Crypto Startups, Offers 5-Year Tax Exemptions
Newly-elected President Ivan Duque is encouraging blockchain and cryptocurrency innovations in Colombia. Duque has issued a welcoming call for blockchain and crypto startups as a part of his broader effort to use the blockchain technology to fight corruption and support economic growth within the country. Duque plans on offering crypto entrepreneurs based in Colombia exemption from the federal income tax for the companies’ first five years.
Duque added that he believed blockchain technology could play a critical role in fixing corruption while improving national governance, healthcare, and security. He specifically stated that blockchain could be used to track public funds and detect anomalies in the management of resources.
4. EQUAL FOR ALL (REUTERS)
EU should adopt common cryptocurrency rules, report for ministers says
The European Union should adopt common rules on cryptocurrencies and scrutinize how new digital units are distributed to investors and subsequently traded, according to a report prepared for the EU Finance Ministers.
In the report, the Brussels-based think tank Bruegel argues for EU-level regulation of crypto exchanges and clearer rules on “Initial Coin Offerings” (ICOs) to control risks and exploit the potential of the industry and its underlying the blockchain technology.
The document is to be presented to the Ministers who are meeting on Friday and Saturday in Vienna.
5. A DIRECT CORRELATION? (CNBC)
Bitcoin falls after Goldman reportedly drops crypto trading plans
The world's largest digital currency fell roughly 5 percent to a low of $6,938.10.
"In response to clients’ interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering," Goldman Sachs said in the statement.
6. NEW OPPORTUNITIES (HURRIYET DAILY NEWS)
Turkey’s Borsa Istanbul has developed a blockchain-based system for healthy information flow among financial institutions
“With the blockchain-based project, which was prepared by the Borsa Istanbul IT team, information in the customer database of Borsa Istanbul, Istanbul Clearing, Settlement and Custody Bank [Takasbank], and the Central Securities Depository of Turkey’s has been synchronized,” the bourse said in a statement.
Within the scope of the project, which was designed under the Know Your Customer concept, the addition of new customers, information editing and document management would be carried out on the blockchain network, the statement read.
7. NEED MORE BLOCKCHAIN (ASIA TIMES)
Future-facing South Korea moves to full blockchain adoption
South Korea’s SBI Savings Bank signed a MoU with the Asian-based data finance group, DAYLI Intelligence. It aims to enhance the bank’s AI and the blockchain technology and building out its FinTech capabilities.
The project, reportedly aimed at “machine learning” that will maximize efficiency and reduce costs, will be run on the South Korean ICON LoopChain blockchain platform and will use distributed ledgers, smart contract mechanisms and settlement, trading and Internet of Things (IoT) operations.
8. LET ME TEACH (FORTUNE)
Coursera Now Offers a $99 Crash Course in Blockchain
Titled “Blockchain: Foundations and Use Cases,” the program is a joint effort between the online learning giant Coursera and ConsenSys, a Brooklyn-based software company that specializes in the popular blockchain known as Ethereum. The course, which costs $99, takes about 10 hours to complete over five weeks and offers a certificate to those who do.
“It’s not about delivering skills but about helping the general population to understand the blockchain concepts like decentralization, consensus algorithms, public keys, and hash functions,” ConsenSys CEO Joe Lubin told.
9. AND WE GO (THE DAILY TRIBUTE)
Minister urges Bahraini talents to explore blockchain technology
The blockchain technology was one of the most important advancements in recent years and Bahraini talents must familiarise themselves with it and companies must take advantage of it, said the Minister of Electricity and Water Affairs, Dr. Abdulhussain Mirza who is also a member of the Supreme Committee for Information and Communication Technology.
“Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions. Blockchain’s ability to protect user’s data is a true mark of progress, especially due to the fact that it can be applied in different companies from different industries including cybersecurity,” he said.