Top 5 Crypto News: Blockchain supporting Coronavirus aid program to Crypto Industry growing in India
1. Swiss town to use blockchain to protect the economy.
The Swiss town of Wetzikon will deploy blockchain-based technology to encourage town people to make purchases from small and medium businesses affected by the coronavirus pandemic. In the coronavirus aid program, 25,000 residents of the town will be given 10 swiss francs in the form of eCoupon. These coupons can be accessed by a smartphone app named “ecoo”. With every passing day, blockchain is making its way into various fields.
2. Crypto Industry is growing in India despite the lack of a clear regulatory framework.
After Supreme Court removed a 2-year ban on banks serving cryptocurrency exchanges in March 2020 Indian crypto Industry has been growing in terms of volume as well as new clients. Nischal Shetty, founder of WazirX said
The Indian crypto ecosystem has been growing tremendously since the Supreme Court lifted the banking ban on crypto in India. [...] The positive verdict was immediately followed by a lockdown due to the COVID-19 pandemic. This period has also given people more time at hand to read about crypto and participate in it.
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3. 0x seeks to expand beyond Ethereum.
Theo Gonella, 0x Labs product manager in a blog post-wrote-in this blog
We will share 0x Labs’ strategy with regards to driving expansion of 0x protocol beyond Ethereum.
After Ethereum-based protocol has been successful in connecting a network 30+ projects building with their API this year, Also in the same year 0x’s usage has also increased above mentioned will be their next step. He added his article with
To fulfill this mission, 0x Labs will pursue two strategies: colonize other blockchains with emerging tokenization of value, and build a p2p exchange blockchain hub. These are not necessarily sequential nor conflicting. We have already made good progress in the latter, and now will likely spend more focus on the former.
4. Nigeria's Anti-social Media Bill marks the importance of Decentralised Network.
Evaluating the role of social media in the EndSARS (End Special Anti-Robbery Squad) protests, the Nigerian government restores the Anti-social Media Bill which was proposed last year. Authorities reported the reason for this ban is to keep a check on fake news on social media. If this bill is passed into law then Nigerians will no longer have freedom of speech online. If social media was built on a decentralized blockchain then the government could have never been able to control the user's activity on the platform as it is doing now.
5. Crypto companies are hiring top-tier legal talent.
This Friday Coinbase Inc. declared that the company has appointed Milana McCullagh, former Google Senior Legal Director as deputy general counsel for product and commercial legal. Coinbase between August and October has hired some other high-profile attorneys as well. Not only Coinbase but other crypto companies are also doing the same. As high-profile attorneys are getting attracted to crypto companies shows the impact of the industry on the rest of the world.