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Last week crypto news today #21

Crypto’s mainstream adoption – the question that has been on minds of crypto fanatics for close to a decade now seems to be taking roots. Netflix’s Altered Carbon depicts the future merchandise quoted in Bitcoin and other crypto. This future takes place in year 2400, while we may not be there to see if and how far Bitcoin will go by 2400, the mention was celebrated by the crypto folks.  That and other news are covered in this edition:

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New Zealand to fix the ‘unfavorable’ treatment of cryptocurrencies

Addressing Goods & Sales Tax (GST) issues, New Zealand plans to fix the issues around unfavorable treatment of Cryptocurrencies.  They have dedicated a whole chapter on Cryptocurrencies in the Policy Issues document released this week.  In the section, New Zealand acknowledges that cryptocurrencies are a fast-growing sector and GST policies should accommodate, rather than oppose, this innovation. The summary page showcases this:  

Tax Invoice Requirement New Zealand                   

It is refreshing to see that some government agencies are taking proactive steps to make room for cryptos in the economy instead of labeling them as ‘illegal’.

Bank of England chief cashier signals ‘central bank digital currency’

“We need to think as an institution about how to position ourselves to make sure society still has a broad range of payments that it can use with confidence…” said Sarah John, chief cashier of Bank of England, commenting about Central Bank Digital Currency. Sarah John, who is responsible for issuing banknotes at the Bank, said it “absolutely is really important central banks think about that as an option” ‘as the private sector steals a march on regulators’, Telegraph reported.

Tagomi & Shopify join the Facebook’s Libra Association

Libra CoinTechCrunch was the first to report that Crypto Fund, Tagomi, is joining Facebook’s Libra Association.  “We are excited to welcome Tagomi to the Libra Association. Tagomi joins a growing group of Libra Association members committed to achieving a safe, transparent, and consumer-friendly implementation of a global payment system that breaks down financial barriers for billions of people” says Libra’s head of policy and communications Dante Disparte, according to TechCrunch update.

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JP Morgan’s 74 page report elaborates of Blockchain & Cryptocurrencies

Is Blockchain moving into mainstream?  JP Morgan’s Perspective Series tackled in its latest edition.  It is ironic that a company that despised bitcoin only a year or so ago now has a dedicated publication series on blockchain and cryptocurrencies.  In this new edition, JP Morgan’s views indicate that blockchain is here to stay and Bitcoin continues to be undisputed leader of cryptocurrencies. “Trade Finance and Payments blockchain solutions offer the most incremental efficiencies in the banking sector relative to other use cases, but widespread implementation is at least three to five years away.  We see the long-term potential for Distributed Ledger Technology (DLT) to transform banks’ business models by providing efficient and resilient information transfer and storage once scale has been achieved,” reports the publication.

USPS’s page on blockchain

United States Postal Service (USPS) has a dedicated page on blockchain benefits for supply chain.  The page talks about Blockchain’s role in Supply Chain, whether blockchain is the right solution for supply chain, 4 ways to use blockchain for supply chain.  Blockchain/crypto enthusiasts are happy about a government agency’s education page on blockchain.  

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Thank you for reading and sharing this article.  Visit this page for Cryptocurrency news collection from 2017.

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