Recent developments in the Crypto world – April 2019 can be seen as an excellent month in the crypto domain. When the prices of the major cryptocurrencies continue to escalate simultaneously the vivid developments and approval of Blockchain technology in various countries are widely visible.
Crypto Market News:
Since the quarter year of 2019 has passed, we can officially say the ‘Crypto Winter’ is over, which started after the fall of crypto prices and lasts for more than a year. But slowly, all the major cryptocurrencies are gaining profit and the crypto market is following the bullish trend. Price of Bitcoin (BTC) is elevating for three months in a row, and in April 2019, it gains 28% in April. Bitcoin started this month with US $4127 as its price and ended in US $5391. It seems that this growth will be further accelerated in the upcoming months. Other top cryptocurrencies are rising alongside Bitcoin as well. Ethereum (ETH) has made a profit and went up to 0.75% and currently stands at US$159.97. Though XRP continues to fall, its downfall is checked at 1.61%. Litecoin (LTC) also prevails steadily at a price of US$74.15.
A lot of activities are happening in the Blockchain sphere. Day by day it is gaining more prominence.
Blockchain City Is Under Development:
Yes, it might seem like a fantasy, but the world’s first Blockchain city is under development in Malaysia, near Malacca Strait. The city will be known as Melaka Strait City. This Chinese government-backed project is entrusted in the hands of Chinese engineering giant China Wuyi. A sum of US $120 million is funded for the initial stage of engineering work. In this city, all of the inhabitants can pay cryptocurrency to pay for governmental tax and service duties. They can change their money into DMI cryptocurrency through Android, iOS and Windows applications.
Inclusion Of Big Corporations In The Crypto Sphere:
A number of famous multinational brands opt to cope up with Blockchain technology. They are trying to enrich it by new innovations. Recently, Forbes has published a list of 50 such companies that are setting new trends.
Amazon, Foxconn, and Walmart are among those brands. Amazon introduced Blockchain tools to help the developers in booting up distributed ledger technology. Amazon web service, the cloud computing platform controlled by them, launches Amazon Managed Blockchain for their users, who can use Ethereum from now on. The world’s largest electronics supplier Foxconn started using Blockchain-based payment method to its suppliers and subordinates. In this way, they eliminated most of the lengthy paperwork.
Blockchain Powered Freelancing:
World’s first Blockchain powered freelance marketplace is here. Here all the freelancers have the opportunity to shine. Named as Nodal, it is a UK based freelance pool vowed to end the problems of late payment by a secure and timely payment through Blockchain technology. They primarily focused on the sectors of VFX, engineering, and properties, where the problem of late payment is most severe.
Works Going On To Introduce New Blockchain Solutions:
Chinese internet giant Tencent (which acquired worldwide fame after developing PUBG mobile game), is going to work out for new Blockchain solutions on a local basis. They will imply Blockchain technology for crowdfunded health insurance.
Blockchain In Football:
Famous London-based football club West Ham United is going to introduce a fan token ecosystem with the help of Blockchain platform Socios. This token will come in circulation during the 2019-20 season. The tokens will work as digital assets to secure voting right for all the fans. Users can also participate in polls if they have these tokens. All of the polls and voting will be conducted in the Socios mobile app. 46% of the supporters have already claimed that they are eagerly waiting for the tokens. Brazilian soccer clubs like Atletico Mineiro had already launched its own fan utility token, and through Socio, tokens are going to be introduced in the European football as well.
Will Samsung Introduce Its Own Cryptocurrency?
The experts are claiming that Samsung is going to bring its own cryptocurrency as a medium of exchange in the company’s app store. While this possibility is not officially confirmed yet, what the company has already claimed is that it is going to keep an inbuilt cryptocurrency wallet in its upcoming flagship phone Galaxy S10. Some inside sources, though, already claimed that Samsung is working endlessly to introduce its own Etherium-based Blockchain manner, which will be known as ‘Samsung Coin’.
Phillip Morris Will Adopt Blockchain:
The Global tobacco corporation Phillip Morris is thinking of implementing Blockchain use cases to track tax stamps in cigarette boxes. In spite of traditional ease in using the tax stamps, Phillip Morris is facing trouble with it as tax stamps require huge paperwork to be managed every now and then. Nitin Monoharan, the global architecture and tech innovative head of this company proposed that they can save an estimated US$ 20 million per annum, by using Blockchain.
Though, we must consider, that everything linked up with the crypto market is not going well enough. Some nations are not ready to cope up with the changing scenario. So, governments, mainly from third-world nations, try to discourage crypto exchange in every possible manner. The latest news article of The Economic Times claimed that the Indian government is seriously thinking of implementing a strict ban over cryptocurrencies. For the last few months, the government was engaged in justifying all the arguments about cryptocurrencies- be it in favor of it, or against it. Now, there is news that a draft bill has been written named as ‘Banning of Cryptocurrencies and Regulation of Official Digital Currencies, 2019’ where the government has put the argument against the use of cryptocurrencies. Though this bill is not even introduced in the parliament, it perfectly shows the attitude of the Indian government towards digital currencies.
That’s all for now. Stay connected to receive more updates from the world of Blockchain and cryptocurrencies in the next month.