This week’s news update is rather short as the market is fighting with the Covid19 crisis.
BRAVE and TAP Network Partnership brings brand names to blockchain
Brave browser users can now redeem their Basic Attention Tokens (BAT) for real world rewards from over 250000 brands. “The collaboration makes token utility redemption a reality for Brave users, and connects brands with an engaged consumer audience while respecting their privacy,” read the announcement. These brands include names such as Amazon, Apple, American Airlines, Delta, Hotel.com, Uber and Starbucks, etc., Lot of crypto enthusiasts have raved this partnership as ‘one step closer’ to mass adoption.
EARN IT act makes case for blockchain’s privacy feature stronger
While the world is grappling with the Coronavirus pandemic, few senators are busy carrying out ‘a sneaky attempt to end encryption is worming its way through Congress’, according to The Verge. While the bill mainly focuses on child exploitation – it is ironic coming from a Senator of a State where there is no ‘legal age’ for marriage if the girl is pregnant. “For starters, it’s not clear that companies have to “earn” what are already protections provided under the First Amendment: to publish, and to allow their users to publish, with very few legal restrictions. But if the EARN IT Act were passed, tech companies could be held liable if their users posted illegal content,” The Verge reported. Imagine a technology that takes away middlemen so that the government cannot go after a single person or entity to ‘shut-down’? Wait – we have that in blockchain technology.
Bitcoin soars amidst fear of inflation with Feds declaring a 700 Billion QE
The US has slashed its interest rate to almost ‘0’ and has a plan to spend $700 Billion in quantitative easing to save the economy that has been crippled by Coronavirus. Crypto enthusiasts have all read this has an impending inflation doom. This sentiment has caused bitcoin to retrace quickly from its bottom below $4000 to coast all the way to $6000.
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