Interesting Times In Venezuela For Cryptocurrencies

It has been interesting times for cryptocurrencies these past few months, particularly in Venezuela where due to its ongoing struggles with hyperinflation, have looked into cryptocurrencies as an alternative store value that is likened to Gold.

Cryptocurrencies like Bitcoin has allowed Venezuelans the opportunity to use a global currency with far less price volatility than the now-worthless Bolivar providing strong support for the validity of the digital asset.

Another cryptocurrency, Dash has seen an explosion in both price appreciation and adoption throughout this past week due to its faster transaction times and cheaper transaction cost.

Local news outlets reveal that there is up to two hundred merchant adoptions per month for Dash.

While Bitcoin continues to hold the lion’s share of the market other cryptocurrencies like Dash, Nano and transaction focused cryptos are quietly making a name for themselves.

New Crypto Exchanges Faces New Requirements In Japan

The Japanese financial watchdog that oversees the approval of new exchanges has recently revealed new screening requirements for cryptocurrency exchanges that wished to operate in the country.

Aside from the previously required good financial health status and strong system safety features the exchanges must also show effective decision making processes and be assessed for any links to any antisocial groups.

The Financial Services Agency (FSA) wants to see if the executives are properly involved in decision-making through the perusal of records of board meeting.

It also plans to review the composition of an applicant company’s shareholder composition and if an internal system is in place to check for links to antisocial groups.

There are currently about 160 crypto exchanges wanting to enter the Japanese market which is a substantial increase from previously disclosed 100.

Tron Daily Transaction Count Now A Third of Ethereum

Tron has seen a marked increase of daily transaction since its migration to its own blockchain a couple of months ago.

The month of August has seen about 206,000 average daily transactions for the young blockchain which is said to be a third of Ethereum (640,000), the second largest cryptocurrency in terms of market capitalization.

In addition, Tron’s daily transaction in the first day of September is 440,135 which is about 67% of Ethereum.

The latest news about the number of daily transactions might be bullish to many.

There is still a great road ahead for Tron to catch up to Ethereum’s 42 million unique addresses with Tron having only about 294,000 accounts in existence.

However with Tron’s acquisition of Bittorrent, which services more than 100 million users in 138 countries, Justin Sun, Tron’s founder believes together is the largest and most-advance peer-to-peer network in the world.

Microsoft Seen Connecting Blockchain To Main Products

According to Matt Kerner, General Manager of Microsoft Azure, their company has been quietly building bridges between its blockchain services and mainstream products such Office 365 Outlook, SharePoint Online, Salesforce, Dynamics 365 CRM Online, SAP and even twitter.

The general idea is to allow Microsoft customers to be able to port their data from these platforms into the cloud, and from there onto a blockchain.

The logic behind this effort aside from the inherit efficiency advantage of blockchain is it amasses data from multiple companies in a standardized format which can be easily be mined for all sorts of insights.

With the use of blockchain, users can access a single, authentic data set shared across counterparties.

It creates a multi-party business process that is moving out of email, phone calls, spreadsheets and into a single system with a single view on the data that all of the participants can rely upon and trust.

New Colombian President Takes A Pro Blockchain/Crypto Stance

The newly elected President of Colombia, Ivan Duque has expressed a very positive tone to blockchain and cryptocurrencies.

The new President would like to turn Colombia into a technological leader in the region and wants to maintain an official who focuses on issues related to digital society.

The President also states that companies in the information and communications technologies field would be exempt from taxes for the first five years if they are able to generate a specific number of jobs.

This mandate would apply to crypto and blockchain-related firms.

Colombia has set up a working group called INNOVA in order to learn more about blockchain and understand how to protect citizens that get involved with it.

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