Your Daily Crypto News on Steemit September 13, 2017
- IBM joins the Car-eWallet Cooperation!
- Tether (USDT) comes as an ERC20 Token on Ethereum!
- SBI Ripple Asia tests DLT with Japanese and South Korean banks!
- EU has so far invested 5 million Euros in Blockchain Startups!
- Swiss municipality accepts tax payments in Bitcoin!
IBM is now working with ZF Friedrichshafen, the world's leading technology group in drive and suspension technology, and the UBS investment bank in the Car-eWallet cooperation to develop a block-based mobile payment system for the automotive industry.
The joint press release says:
Car eWallet is a digital assistant in the car, which can easily and secure payments settle. In addition, he will be able to take on additional tasks such as trunk or doors. It is based on the IBM Blockchain technology, which synchronizes the information of each participant in the network with an individualized data record. The data are personalized and can not be viewed by third parties, which makes the transactions secure. The cooperating companies see the potential to redefine e-commerce between manufacturers, suppliers, service providers and customers.
The project is an important building block in the further development of autonomous driving. The blockchain driven assistant ensures that the vehicle performs tasks independently without the user having to actively intervene.
Dr. Stefan Sommer, CEO of ZF Friedrichshafen AG said:
Dirk Wollschläger, IBM's General Manager Global Automotive Industry said:
"In today's digitally networked world no institution works isolated. As the leading financial services provider, we are striving to develop a new platform that provides a new way to efficiently and secure transactions and payments between vehicles and other machines"added Veronica Lange, Head of Innovations at UBS.
According to a blog entry by Ethfinex's co-worker Kasper Rasmussen, Tether.to, in collaboration with Ethfinex, is planning to develop a Tether ERC20 token.
Fiat on Ethereum?
A Tether (USDT) has the same value as a US dollar. The team behind Tether is said to have provided sufficient US dollar reserves to link the price of a Tether to the US dollar.
Due to the great success of the Bitcoin based USDTether, a Tether is now to be released on ERC20 standard. The ERC20 standard is a standard after token is allocated to the Ethereum blockchain. To make sure that tokens do not have countless differences for which no comparison can be made, there is the ERC20 standard under which all tokens can be grouped together in Ethereum. The ERC-20 token standard was officially finalized yesterday by Fabian Vogelsteller and Vitalik Buterin.
By introducing US dollar tokens on the Ethereum Blockchain, developers are hoping for lower confirmation times and greater opportunities in the future. Virtually no Fiat currency has been digitally depicted, which means that the developers are hoping for a better connection with the public. In addition, the presentation of traditional currencies should provide a further opportunity to obtain price stability in the short term.
Will Harborne, Project Manager at Ethfinex said:
![cnews4.jpg]
Difficulties
Tether, however, was in the past under pressure for failing to offer an explanation. For example, it was reported last week that in principle no legal certainty exists with Tether. Thus in case of emergency you would not be entitled to an equivalent payout in US dollars.
Through the echo in the (social) media, Tether has now commissioned a series of audits to prove the legitimacy of there company.
SBI Ripple Asia is reportedly to test a method for money transfer by DLT between Japan and South Korea by the end of the year.
SBI Ripple Asia is a joint venture between the Japanese financial services provider SBI and Ripple. At the beginning of the year, the company had already launched a bank consortium to work to spread Ripples technology in Japan.
The company is now working with DAYLI, a Korean provider of Blockchain and AI solutions, to export DLT applications to South Korea.
Kyoung June Eee, CEO of DAYLI Intelligence, said:
SBI Ripple Asia was founded in early 2016 to promote the use of Ripple products and services in the Asian market. Specifically, Ripple had a strong presence in the Korean market last month.
SBI Ripple Asia was founded in early 2016 to promote the use of ripple products and services in the Asian market. Specifically, Ripple had a strong presence in the Korean market last month.
The European Union has so far invested 5 million euros in startups, whose projects deal with the issue of Blockchain.
According to publicly available data, six startups have so far received funding from the Horizon 2020 Initiative that develops or researches web applications using this technology.
Last week, the European Commission Group for small and medium sized enterprises presented the work of the three startups, Signaturit, Authenteq and The Billon Group, which are developing digital services, such as digital identity and payment.
The data from Horizon 2020 show that the EU has promoted startups with the topic of blockchain with a total of 5,471,131 euros. Three start-ups each received funding of EUR 1 million, while three were funded with EUR 50,000 each.
Last month, the European Commission announced its intention to organize a "Blockchains for Social Good" competition that goes hand in hand with the Horizon 2020 initiative. European researchers hope that the project will also finance crypto currency related initiatives. Previously, the European Commission had already laid the foundations for the so called "Blockchain Observatory". This is to serve as an office for research and public relations within the framework of the Blockchain technology.
Someone has to start: Swiss small town Chiasso accepts tax payments in Bitcoin.
On the march to the official payment, acceptance by the tax office is likely to be one of the highest hurdles. Now Chiasso, a small town in Switzerland, is taking this step. From 2018 onwards, taxes of up to 250 Swiss Francs are to be settled in Bitcoin.
Chiasso is a small, inconspicuous municipality with about 8,000 inhabitants in the Italian part of Switzerland, situated directly on the border with Italy. The document, published by the City Council this week, will be part of a future Bitcoin museum. It marks an important step in Bitcoin's already advanced money-making process.
The city council of Chaisso informs that "a group of companies and experts for Bitcoin and Blockchain have chosen Chiasso as the basis." The city recognizes "both the exponential growth of this technology and some possible applications in the daily life of the community". Chiasso is to be the "epicenter of a movement of technological and economic growth for the Canton and Switzerland". 8 startups have chosen Chiasso as their home country in the past months. Probably it is Bitcoin and Blockchain startups.
The city council now confirms the "acceptance of the payment for taxes up to a maximum sum of 250 Swiss Francs in Bitcoin from January 2018." Furthermore, the city of Chiasso becomes the founding member of the BHB Netzwerk Stiftung, a non-profit initiative running from the Blockchain Lab Milan and Blockchain experts worldwide. The foundation of the foundation is to become Chiasso; from October 2017, there will be regular meetings between industry representatives. Also, Blockchain courses are planned at the local university.
The BHB network confirms this and explains that the initiative came after a meeting with the city administration as well as local experts and companies.
Even if the maximum amount of 250 Swiss Francs is not really cosmopolitan, the symbolic scope of the Swiss small town's move is hardly to be surpassed. While until now only fans of hard money Bitcoin had described themselves as money because of its properties, supporters of the Modern Monetary Theory were able to argue that only the money is what the state acknowledges for tax payments. This rather staunched perspective on money ranks in a century, if not a thousand years old tradition, that the subjects of a prince had to surrender their duties in the currency chosen by the prince - which gave the prince the definition of money over money. According to state-critical economists, this was an important reason for the ancient tradition that princes manipulated the money by worsening the precious metal share of coins.
With Bitcoin, for the first time in history, a money has reached this consecration, which can not be manipulated.
A great step for Chiasso - and a great step for Bitcoin!
I wish you all a lovely Wednesday!!!
Best regards
@danyelk Sharing to have this witnessed far more (and perhaps open up the eyes of some)! Thanks for the properly put up and documented report! Resteemed.
Thank you very much I am glad you like my crypto news :)
usdt is not a good coin
Why? Give me some more info why it is not a good coin.
https://steemit.com/bitcoin/@g-dubs/why-you-might-want-to-avoid-tethers-usdt
Okay cool thanks will check it out.
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