Thai Banks Allowed To Open Subsidiaries To Invest In Crypto

The central bank of Thailand, Bank of Thailand, has recently gave permission for all local financial institutions permission to launch subsidiaries that may cater to the cryptocurrency services sector.

This means that the banks in Thailand may offer brokerage services to crypto-related companies to invest in crypto and blockchain startups, or even operate their own cryptocurrency business.

In this regard, they are allowed to offer their own digital currency and issue ICO so long as it is geared towards innovation and adheres to the guidelines outlined the central bank’s regulatory sandbox.

Subsidiaries will also have to work with the country’s Securities and Exchange Commission (SEC) as well as the Office of Insurance Commission (OIC).

Canaan Releases The First Bitcoin Mining TV Set

A Chinese cryptocurrency mining hardware manufacturer, Canaan Creative, has recently announce the world’s first-ever Bitcoin Mining Television Set.

Named as the AvalonMiner Inside, this TV set is one of the many appliances that the company seeks to develop and market for mainstream consumers.

The TV set as many advance functionality as it can compute Bitcoin mining profitability in real time and has voice controls.

It is also said to be enhance by artificial intelligence.

Bitcoins that are mined can be used to purchase physical gifts through the Canaan’s Platform.

This is one of the many efforts of Canaan to diversify its product offerings.

They have stated in the past that they have plans developing blockchain-related home appliances that will enable them to get more market share in the crypto mining market.

VeChain Partners with Japan’s Biggest Telecom Company

After being selected by the Chinese government to provide a drug and vaccine traceability solution for the whole of China the VeChain (VET) has announced that it is partnering with the largest telecommunication company in Japan for being among the first batch of partners for the 5G Partner Program launched by NTT Docomo.

With the said partnership VeChain is enabled to potentially collaborate with multiple cross-industry enterprises, opening doors for further cooperation on new endeavors.

The partners in the program includes MYFG bank, The Asahi Shimbun, Tokio Marine & Nichido Fire Insurance Co Ltd, Astellas Pharma Inc., Sony and Okinawa Prefectural Governmnet.

Selected partners have the options of constructing their new services under the environment of 5G before 2020 and excellent opportunity for VeChain to test and showcase traceability functionality of its platform.

Ripple Partners With Madonna For A Cause

Ripple is said to be partnering with the Queen of Pop, Madonna to initiate a fund raising project that will help a charity organization that the later founded more than decade ago.

Dubbed as the Raising Malawi, it is a charity aimed to help assist children who have been orphaned after their parents died from HIV/AIDS-related complications.

The fund raising period started last July 30 and will run through August 31 and is said to mark Madonna’s 60th birthday which is on the 16th of August.

Ripple has announced that it will be matching all the public donations that will be made in support of Madonna’s Cause.

The senior president of business operations, Eric van Miltenburg, reveals that Raising Malawi was introduced by its investors at Sound Ventures, a tech investment fund founded by Hollywood actor Ashton Kutcher and Guy Oseary.

This is the latest of philanthropic initiative of Ripple.

Earlier this year it has donated $4million USD to the Ellen DeGeneres Wildlife Fund as well as a $29 million USD donation to support public schools in the United States via the DonorsChoose.org nonprofit.

Government Of Scotland Thinking Of Blockchain Adoption

The Scottish government is said to have published a report that details how to deal with blockchain technology and how to be leveraged for public services.

The report calls for the formation of a working group of Scottish blockchain experts that would form suggestions on how to utilize blockchain to improve the national economy.

This group should be provided with a budget to finance proof of concept activities and training, and will be task to put forward examples of how the international community is adopting blockchain technology.

It also calls on how to educate the public sector to enhance their skills and knowledge.

It urges the Scottish government to look into promoting use of this technology through Civtech programme, The CodeClan Digital skills academy and the University of Edinburgh’s new AI and Blockhcain accelerator.

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