Each day, the blockchain brings the potential of revolutionizing our world closer to fruition. That is why seasoned currency investment veterans like Jordan Lindsey monitor everything blockchain-related closely. While we don’t know what the next big development with blockchain will be, we know something significant is likely on the horizon.
To make staying up to date easier, we bring you some of the latest news and analysis on blockchain and crypto from around the world.
Crimean Government Employees Fined for Bitcoin Mining
Employees who were fired in September of 2017 from Crimea’s Council of Ministers have now also been fined 30,000 rubles for mining bitcoin using the government’s computer network. This comes with other examples of state employees utilizing work computers to mine cryptocurrency in Florida and Louisiana.
For those unfamiliar with mining, it is the process of verifying transactions and adding new transactions onto the blockchain. Built by Jordan Lindsey, the Bitcoin Growth Bot is one of the solutions designed to address some of the logistical issues with Bitcoin.
With more transactions taking place than before, this process is very energy intensive. This has made people question the efficacy of Bitcoin. As cryptocurrency becomes more and more popular, it requires larger amounts of computational energy to work. If Bitcoin is ever going to become a major currency, it will have to find a way to stay energy energy-efficient.
Government-Led Research Body in China Unveils Blockchain Service
While big companies in China have already launched blockchain services, the Blockchain Registry Open Platform is notable for being the first blockchain service associated with a government.
It’s no surprise that the Chinese government has a significant interest in blockchain technology because it has applications that go well beyond cryptocurrency. While Bitcoin may be the most popular application of blockchain to date, there is no telling what could come next. Blockchain presents the potential to change any sector that uses data storage or middlemen. It will be interesting to continue to follow the progress of the government-backed blockchain service.
Coinbase Not Adding New Cryptos
The San Francisco-based cryptocurrency exchange is hesitant to add new cryptocurrencies to the exchange. While consumers around the world have increasing desire to be able to buy and sell different coins, that won’t be through Coinbase.
The hesitation stems from the alleged SEC investigations into new cryptocurrencies. The SEC may be trying to determine whether some cryptocurrencies qualify as securities or commodities. This makes life difficult for Coinbase when it comes to supporting new emerging cryptocurrencies because the exchange may be forced to remove them by the SEC in the future.
Much of the appeal of crypto is the claim that it requires no government to regulate it. But the more mainstream cryptocurrency has grown, the more interested government agencies have become in regulating it. However, investors like Jordan Lindsey aren’t afraid of potential regulations because they understand that blockchain will eventually change the world, regardless of what governments do.
It’s worth noting that some believe that regulation is a good thing and will bring legitimacy to the cryptocurrency world.
English Heritage Partners with Giftcoin
English Heritage is a registered charity that manages the National Heritage Collection. This collection includes over 400 historic sites, landmarks, and buildings in England.
English Heritage has partnered with Giftcoin to try and increase trust in charitable donations. The Giftcoin platform is unique in that it can actually track the money being donated to where and when that money is actually spent. This kind of technology has massive appeal to charitable people who want to ensure that their money is being put to good use. A successful partnership could lead to many more charities adopting blockchain technologies to increase donors’ confidence.
Keeping Up with Blockchain and Crypto
It’s not easy to stay up to date on blockchain and crypto, but it’s worth the effort. The invention of blockchain mirrors the invention of the internet in that it’s impossible to imagine all the ways it will create change.
Long-time currency investors like Jordan Lindsey provide regular news and updates on the state of blockchain technology and crypto. Stay informed of the latest trends by subscribing to Jordan Lindsey’s YouTube Channel.