New Rules In Exchange Cold Wallets Introduced In Japan

It has been reported that the Financial Services Agency (FSA) in Japan has released new guidelines with regards to the use of cold wallets of cryptocurrency exchanges.

This was according to a report released by Reuters last April 17, 2019.

The news outlet cited an anonymous source who is familiar with the matter revealing that the financial regulator will require cryptocurrencies to strengthen internal supervision of cold wallets.

It seems that the government agency wants to address the difficulties of ensuring the security of digital currencies and other risks for the country to boost the fintech industry and stimulate economic growth.

Cold wallets are not connected to the internet and generally seen as a more secure and effective way of securing digital assets however it is still vulnerable to other risk such as internal theft.

Ethereum Alliance Partners With Industry Heavy Weights For Token Taxonomy

The Ethereum member driven consortium, Enterprise Ethereum Alliance (EEA), has recently announced the launch of a blockchain-neutral Token Taxonomy Initiatve.

The said initiative includes Wall Street Giant J.P. Morgan Chase, software giant Microsoft and many high profile partners who are considered giants in their own sectors.

The initiative aims to drive adoption by defining tokens in non-technical, cross-industry terms.

EEA’s Taxonomy thereby wants to bring some standardization to the space regardless of the use case since cryptocurrencies and blockchain is beginning to spread across a number of industries.

Ron Resnick, EEA Executive Director states that standardizing tokens that works anywhere could hold the key to one of the greatest economic opportunities in modern history which can be compared to standards that led to the rise of e-commerce on the internet.

Digitization Of Pakistan’s Government Administration

It has been reported by a local news agency that the prime minister of Pakistan has conducted a meeting that is solely dedicated to the digitization of government administration.

Pakistani Prime minister Imran Khan discusses issues on digitization of government processes and the use of blockchain technology to help ensure efficiency and transparency in its operations.

According to the Prime minister the digitization will create much needed synergies among the government organization of ensuring friction-less service delivery and improving ease of doing business in the country.

Just this month Pakistan has announced it will implement a new cryptocurrency regulations in the form of licensing scheme for electronic money institutions which aims to improve tracking financial crimes.

Moreover the country’s central bank has stated that it plans to issue its own digital currency by the year 2025.

These are just some of the development in Pakistan which is shaping up to be one of the more cryptocurrency friendly country in the region.

Digital Asset Integrating Open Source Smart Contract Language To Hyperledger

New York-based blockchain startup, Digital Asset which is currently developing a platform to reduce settlement latency and counterparty risk, has announced that it has open-source DAML under the APACHE 2.0 license.

The Digital Asset Modeling Language (DAML) is a software development stack created specifically for writing secure smart contracts with software development kit (SDK) now available for download.

It was also revealed that DAML is the exclusive smart contract language of ISDA, the standards body for the derivatives market for their Common Domain Model (CDM).

CDM is an industry data standard for booking and representing over-the-counter (OTC) derivatives products and the events occur on these products throughout its lifecycle.

Digital Assets has been collaborating with fellow Hyperledger members through the Blockchain technology Partnership (BTP) Program which involves integrating the DAML runtime environment with Hyperledger Sawtooth.

Internet Archive Recieves $2,500 worth of Basic Attention Tokens (BAT)

According to an online news report, the Internet Archive website has received 9,000 BAT tips when it enabled its Brave creator account.

The initiative which started as a fun experiment to test a new technology surprisingly began bearing fruits with the Archive’s virtual tip jar accumulating $2,500 USD worth of BAT.

Internet Archive states that Brave Browser took the first step towards the re-conception of the web content industry which is moving to build a future in which ads do not play such an invasive role.

While $2,500 might be infinitesimal compared to actual ad revenues can be generated for Web Archive’s 102.47 million visits per month the experiment shows that there is a viable alternative that we can look into.

As adoption grows and the industry gains credibility it is possible to narrow the gap between BAT and traditional ad industry and perhaps becoming a real alternative source of website monetization.

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