The Philippine Economic Zone Screens Blockchain Applicants

According to Ray Roquero, senior deputy administrator at the Cagayan Economic Zone Authority (CEZA), they plan to thoroughly screen all applicants who plan to set up shop in the economic zone.

This is to make sure that no unreliable or fly-by-night companies would be able to establish itself in the area.

The economic zone which is located at the northern part of the archipelago, offers venue for fintech and blockchain companies.

There were around 80 companies that applied with CEZA and the first one that was awarded with a license was Golden Millenial Quickpay (GMQ).

To cement itself as a legitimate blockchain hub it is launching its own cryptocurrency which it plans to release before the end of the month in partnership with Apsaras Group.

Japan’s GMO New Blockchain-Powered Web Bank

GMO, the multi-billion-dollar Japanese technology conglomerate is said to launched a new internet banking business that will utilized the emerging blockchain technologies the will enable it to provide faster and cheaper financial services such as payments and related services.

The online bank named GMO Aozora Net Bank was established in partnership with Aozora Bank Group.

This initiative have been in preparation since 2016 that will use blockchain, artificial intelligence (AI), and Internet of things to provide new user experience for financial services.

New Mastercard Patent Crypto-Fiat Link

According to the US Patent and Trademark Office (USPTO), credit card giant Mastercard has filed a patent that is aim for consumer protection and payment transaction based in blockchain technology.

Mastercard describes in the patent application as a method for managing fractional reserves of blockchain currency as storing fiat currency in one central account with a blockchain currency stored in a second.

Mastercard states that the combinations of traditional payments systems with blockchain-based currencies will provide consumers with decentralization while providing the robustness and security of its legacy systems that has withstand the test of time.

The card giant also highlights the systems fraud and risk detection capabilities using its existing payments algorithms.

Coinbase Is Not Yet Approved By SEC To Trade Security Tokens

The largest cryptocurrency exchange in the US toned down its seeming claim that it has been approved by SEC to trade security tokens.

Although it was indicated that the company has been approved for the acquisition of the three companies that will enable it to provide a wider range of financial instruments, it should be noted that there is not a guarantee that this is indeed a go signal from the agency as there will be more talks on how to properly regulate the new space.

Furthermore it is incorrect to infer that the SEC was instrumental in the approval of Coinbase’s acquisition of Keystore because SEC was not involved in the approval process.

Crypto Courses in Russian University

As cryptocurrencies gaining more traction worldwide higher education institutions in Russia are starting to offer their students courses for blockchain technology and even going so far as to offering full degree programs based on this technology.

These universities are Voronezh State University (VSU), Novorsibick State University (NSU) and Don State Technical Univeristy (DSTU).

VSU will offer a full bachelor’s program called “models and methods for analyzing the digital economy.”

DSTU offers two masters programs for training in blockchain technologies and digital accounting program.

Lastly NSU is offering Master in Cryptography program. Seeing this development is a good indicator how the country views cryptocurrencies in general.

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