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Image Of The Day, 21 Of August: Forbes, The Next Web, Japan Times and Others

Daniil Danchenko

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. JUST IN TIME (Forbes)

Winklevoss-Backed Crypto Effort Picks Up Steam

New Winklevoss twin-backed group is looking to lay the groundwork for a self-regulatory body that would clean up the industry. The Virtual Commodities Association, first proposed in March 2018 and officially launched on Monday, is an industry working group comprised of cryptocurrency exchanges and custodians.

“We believe adding a layer of oversight on virtual commodity cash markets, in the form of self-regulation, is important for consumer protection and to ensure the integrity of these markets.”, - said Cameron Winklevoss

2. A HODL NO MORE (Bloomberg)

Bitcoin Bulls' Favorite Lingo On the Decline as Crypto Prices Fizzle

A popular slang term among Bitcoin believers is losing steam as the slump in global cryptocurrency prices continues.

“Hodl,” the mantra meant to reassure nervous investors that they should ride out price drops, is no longer in vogue in the search bar. The word, which was coined in 2013 when a frenzied Bitcoin trader misspelled "hold" in an online forum, is now less popular in Google searches than “rekt,” according to Google Trends. The latter expression, borrowed from the gaming community, is often used when crypto enthusiasts lose large sums of money.

3. THEY FORGOT (Crowdfundinsider)

Young Norwegians who bragged to media about cryptowealth forgot to report it

Two young braggarts who took to the Norwegian media to boast about millions in crypto profits last year are backpedaling now after media showed they had disclosed minimal gains on their 2017 tax returns.

Crypto-mining partners Philip Eriksen and Roy Arne Olsen, both 22, allegedly reported zero kroner in wealth on their 2017 tax returns and paid 29 000 and 45 000 Norwegian kroner in taxes respectively, the equivalent of roughly $3415 and $5300 USD.


Steve Wozniak seems to have terrible taste in cryptocurrency

Apple co-founder Steve Wozniak has apparently revealed that he is finally working closely with a cryptocurrency. Wozniak, now a popular tech-celeb, has been attending blockchain conferences more and more. Recently, it has been noted that his interest has been piqued so much that he was now working with a blockchain project – Equi Capital, a startup who has issued an Ethereum token that supposedly makes investing more accessible.

While some have celebrated Wozniak’s enthusiasm for the cryptocurrency, it needs to be highlighted just how tarnished Equi’s track record is. The launch of Equi was so heavily botched that the fallout has been felt by the wider bounty community. Large-scale bounties which promise compensation for advertising inevitably become low-income jobs for thousands of people.


Mega crypto farm about to open in an old Soviet fertilizer lab

On Monday Russian company opened what it said the country’s largest cryptocurrency mining unit, in a former Soviet fertilizer-producing laboratory. The opening comes as Russian authorities seek to regulate the booming cryptocurrency sector.

“This is the largest and so far the only farm in Russia that offers the ‘full cycle’ — not just producing cryptocurrency but also offering services to those who do the mining,” said Alexei Korolyov, co-founder of the Kriptoyunivers center.

6. CRYPTO ACKBAR (Uhashed)

“Adab” Launches Shariah-Compliant Cryptocurrency Exchange Platform

A UAE-based company has recently launched a Sharia-compliant cryptocurrency exchange platform called the First Islamic Crypto Exchange (FICE). In strict adherence to the high moral requirements by the Shariah community, the company will employ an in-house Shariah Advisory Board. This is to make certain that Islam is finally included in the global cryptocurrency market.

The new cryptocurrency exchange platform has reportedly set standards that will ensure an enhanced quality of the assets on the exchange. It will also ensure that Islamic cryptocurrency enthusiasts and traders are included in the exchange, without violating Shariah laws.

7. TRIAL BY BLOCKCHAIN (The Telegraph)

Premier League clubs try out cryptocurrency

Premier league football bosses will soon be paying for the best players in bitcoins, it was claimed on Monday night after seven top-flight clubs launched cryptocurrency trials.

Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace have agreed to set up digital wallets with an online trading platform which says it is in "no doubt" the currency will eventually replace sterling in the multi-billion pound transfer industry.


Government of Canada continues expanding its Blockchain technology experiments

Bitaccess is excited to announce that subsequent to the successful launch of its experiment with the Ethereum Blockchain in January 2018, the Government of Canada is now exploring the use of additional blockchain technologies.

The National Research Council of Canada, through its Industrial Research Assistance Program (NRC IRAP) is using Bitaccess' latest product, the Catena Blockchain Suite to host its own blockchain explorer on the InterPlanetary File System (IPFS). Through Catena, NRC IRAP is conducting a live trial to explore the use of public blockchains in the transparent administration of government grants and contributions.

9. FOR YOUR EYES ONLY (The Guardian)

Rohingya turn to blockchain to solve identity crisis

Rohingya refugees are turning to blockchain-type technology to help address one of their most existential threats: lack of officially-recognized identity. Denied citizenship in their home country of Myanmar for decades, the Muslim minority was the target of a brutal campaign of violence by the military which culminated a year ago this week.

“Why does a centralized entity like a bank or government own my identity,” says Noor, a Rohingya community leader based in Kuala Lumpur. “Who are they to say if I am who I am?”

Using blockchain-based technology, Noor, is trialing the use of digital identity cards that aim to help Rohingya in Malaysia, Bangladesh, and Saudi Arabia access services such as banking and education


Jeju Island as a special zone for the global blockchain and cryptocurrencies

ICOs, Blockchain High on Agenda of Korea's National Assembly Extraordinary Session

During the short session, standing committees and political parties discussed measures to promote the blockchain and cryptocurrency industry and how to create a guideline on initial coin offerings (ICOs). They also discussed the proposal to designate Jeju Island as a special zone for the global blockchain and cryptocurrencies.

Under the circumstances, discussions to allow ICOs are expected to gain momentum along with preparations of the investor protection measures and organization of a task force to establish order in cryptocurrency trading. In this regard, the National Assembly Research Service has already released a report noting the need to clarify the legal definition of cryptocurrencies before allowing ICOs.

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