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Blockchain For Good Is Good ...And It's There

On more than one occasion, the traditional banking and finance circles have warned that virtual currencies are unsustainable, volatile and speculative in essence. Although the warning should not be taken literally, there is reason to take it seriously, if only for the turbulence that has recently affected the major cryptocurrencies. That's their dark side. But to consider only that aspect would be to ignore a brighter side which holds the promise of better transparency and inclusion that Blockchain, the technology cryptocurrencies are built on, holds. For indeed there is a bright side to Blockchain. Blockchain exposes its brighter side when...

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Dutch Central Bank Unimpressed By Blockchain

Over the past 3 years, the Dutch central bank has worked with Blockchain to create four DLT (distributed ledger technology) prototypes. They evaluated each of their developments and were ultimately unimpressed by the outcome. The DLTs came with their limitations, such as low capacity, very high energy usage leading to a lack of efficiency and no certainty that payments have gone through. With the Netherlands and some Nordic countries already having payment systems which are efficient already, they say that Blockchain would only really benefit them for cross-border payments with countries who have poorer systems in place. The Director of...

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USDQ Smart Contract is Revealed by PLATINUM ENGINEERING. Q DAO Ecosystem is Alive Now! One of the most secret Platinum Blockchain Lab developments.

PLATINUM ENGINEERING team  announced the reveal of the smart contract to govern the independent one-of-a-kind decentralized stable asset USDQ. The stable coin USDQ token is fully backed and correctable by bitcoin and in the near future other top 10 cryptocurrencies serving as a fully functional asset pegged to the U.S. dollar in a 1:1 ratio. The full smart contract can be found on the official Ethereum network. The USDQ is an Ethereum token written according to the ERC-20 protocol, and since there is no central authority in charge of issuing the coin, it is considered as decentralized since opposed to...

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JP Morgan Chase Assists Canadian & Singapore Banks in Blockchain

Central banks in both Canada and Singapore have claimed that they successfully completed a cross-border payment using distributed ledger technology. The Monetary Authority of Singapore announced earlier today that it has successfully settled a global payment with the Bank of Canada. This is a project that is being dubbed as “Project Jasper-Ubin.” The technology for the project was developed with assistance from the management consulting company and American banking giant JP Morgan Chase. However, the total value of the transaction wasn’t revealed in the announcement. Both of these banks have been testing the waters a bit when it comes to...

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Washington Acknowledges Blockchain Records as Legally Valid

Wahington DC has just passed a bill that recognises and protects the legal status of electronic records in regards to distributed ledgers like blockchain. The bill in question is a substitute senate bill 5638 that was signed into effect by Governor Jay Inslee at the end of April. The original version of the bill had its first reading by the Washington State legislature on 25th January this year. The bill has now been passed with a 96-1 vote and will go into effect in July 2019. However, this new law has a catch that prevents discrimination against electronic records which...

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