Malta Prime Minister States That Crypto Is Inevitable Future Of Money

Joseph Muscat, the Prime Minister of Malta address the United Nations in a general assembly stating that blockchain technology will enable cryptocurrencies to be the future of money.

He also states that the emerging technology like blockchain revolutionizes and improves systems.

This is the primary reason why they have launched themselves as a blockchain island.

He further explains that his country has recognized the potential of blockchain technology and embraced the cryptocurrency market and the businesses within it.

They did this by instituting favorable regulations and policies that will help develop the burgeoning sector.

The strategy of the island state seems to be working as multibillion blockchain and cryptocurrency startups have established their operations in Malta, most notable of this is Binance, the world’s largest cryptocurrency exchange with around 10 million users and $200 million quarterly profit.

Binance’s Decentralized Exchange

The world’s largest cryptocurrency exchange by daily volume, Binance is set to launch a beta version of their much anticipated Decentralized Exchange (DEX).

The DEX is expected to be rolled out late 2018 or early 2019.

Its CEO Changpeng Zhao (CZ) revealed in twitter earlier that they are working on the said DEX nonstop even working on Saturdays.

He also reveals that BNB will be the native gas in the DEX to serve as currency to pay fees and also states that the DEX will not control user funds.

CZ believes that decentralized exchanges are the future of cryptocurrency exchange.

He also shares that in the long-term, users will be able to utilize non-custodial wallets to trade cryptocurrencies in peer-to-peer manner with full control over their funds.

The latter CZ emphasized is the real merit of using DEX where users has the freedom and control over user funds.

The Binance team does not really know when DEX will really take off but when that happens everyone can rest assured that CZ’s company is ready when it comes.

China’s Oldest Science and Tech Publication Now Accepting Crypto

Beijing Sci-Tech Report (BSTR), one of the oldest science and technology publication in China has recently announced that it will be accepting bitcoin for magazine’s subscription in 2019.

Annual subscription will be around 0.01 BTC which roughly translates to about 450 Yuan or $65 USD.

The publication house have written reports on cryptocurrencies in the past and the use cases of blockchain technology and revealed that the publications move to accept bitcoin as its way of promoting blockchain technology in a real-world setting for practical actions.

By embracing this new payment technology the publication hopes to cultivate new readers.

On a side note Beijing Sci-Tech Report is not the only publication that has tried to entice readers by accepting cryptocurrencies.

Several American publications in the past as far back as 2014 has experimented with accepting cryptocurrencies for subscriptions such as Time incorporated for Fortune, Good Health, Travel and Leisure and This Old House.

Chicago Sun-Times has also accepted BTC payments the same year.

Wyoming The Next Crypto Valley According To Caitlin Long

Caitlin Long, a 22-year Wall Street veteran, former Morgan Stanely’s Pension Solutions Group and ardent blockchain advocate reveals that Wyoming might well as be the next Crypto Valley.

She reveals that as a native of Wyoming and has served on its charitable boards for years, she, together with other likeminded leaders wanted to fix legislation in Wyoming that prompted Coinbase and Circle to leave the state in 2015 and have accomplished and accomplished a lot more.

Two of the most important development in Wyoming that will enable the state to accomplish this status is the exemption of crypto from property taxes and the utility token bill.

Caitlin reveals that there is no income tax in Wyoming and there is virtually no sales tax, virtually no property tax and it’s the lowest taxed state in the country.

The latter is a bill that seeks to tackle the ambiguity surrounding the meaning of a utility token.

The ambiguity of policies of agencies like SEC have created an environment of uncertainty which has led many blockchain to leave the country to other crypto/blockchain friendly country like Singapore, Japan, Malta, Switzerland or Gibraltrar according to Caitlin.

Former President Bill Clinton Sees Great Potential in Blockchain Technology

In the annual Ripple Swell conference, Former United States President Bill Clinton said that the “permutations and possibilities of blockchain technology are staggeringly great.

However as he acknowledge the great potential of this emerging technology, the former president urge that economic policy and social policy “work better as positive sum games” and states that I can be all ruined by negative identity politics and economic and social policy.

Clinton received his first Bitcoin (BTC) back in 2016 at a conference in Washington D.C. when a venture capitalist and tech entrepreneur Mathew Rosgak gave the former president a gift of Bitcoin (BTC).

Notably, when his wife Hillary Clinton runs for U.S. Presidential election in 2016, she opted not to accept BTC donations for her campaign.

There has been a spate of activities in capitol hill regarding crypto-related policies as lawmakers from the U.S. Congress sent a letter to the Securities and Exchange Commission (SEC) Chairman Jay Clayton asking him to provide guidance on how the SEC plans to regulate digital currency.

Just last month a group of U.S.-based blockchain and cryptocurrency companies announced they will form the Blockchain Association, the first lobbying group representing the blockchain industry.

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