Day: October 2, 2017

Senior economic opinion remains bearish on Bitcoin getting an ‘official’ badge in India.

It seems that nowadays the front pages of papers are inundated with news about cyber hacks. First, it’s the Equifax hack, and next, it’s the SEC admitting, almost a full year later, that its filing system was breached in 2016. Further, companies are seeking ways to increase webpage load times globally through CDN (content delivery … Continue reading Gladius Using Blockchain As Global CDN And DDoS Mitigation System

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Blockchain consortium R3 has lost two of its most public employees, Tim Grant and Tim Swanson, who are moving onto their own ventures.

The Japanese Financial Services Agency (FSA) has released a list of the first 11 companies permitted to operate exchanges that trade fiat currencies against digital currencies such as bitcoin. Since the Payment Services Act (which legalized digital currencies in Japan) went into effect in April this year, all companies trading fiat for cryptocurrencies were required to register as a ‘virtual currency exchange business’. The law was enacted with the provision of a 6-month grace period to give companies the opportunity to complete registration. Those operating digital currency exchanges before the introduction of the registration system were labeled ‘deemed operators’ and fell into a few different statuses. According to the Japanese financial publication Newspicks, 17 companies remain under review,12 have chosen to shut down at their own discretion and two have not applied for registration.

BTCC, an international cryptocurrency exchange with headquarters in China, has announced it has ceased all domestic trading activities.

Fascinating new index shows the growth in value of unconventional assets. Does Bitcoin compete?

The Russian Ministry of Finance has proposed adding cryptocurrency to the country’s financial literacy strategy, which was jointly developed with the World Bank. Interest in cryptocurrency is growing in Russia, even among children.

Also read: Russian Regulators Disagree on Crypto Regulation, Postpone to Next Year

Russia’s Financial Literacy Strategy 2017-2023

Russia’s finance ministry has proposed including cryptocurrency in the country’s strategy to increase the financial literacy of the population from 2017 to 2023, according to reports on Friday.

The strategy was approved by Prime Minister Dmitry Medvedev last week. It was based on a joint project between the Russian Ministry of Finance and the World Bank. The program will be implemented in two phases, one in 2017-2019 and the other in 2020-2023, with the Finance Ministry overseeing their implementations.

“In the strategy to increase the financial literacy of Russians, it is necessary to include the topic of cryptocurrency,” Minister of Finance Anton Siluanov said in a broadcast on the TV channel “Russia 24”, according to Lenta. He added:

The question of investing in instruments such as cryptocurrencies will, of course, be discussed, and we now see more risks than recommendations on investing in such instruments. So, explaining the possible consequences of investing in unregulated instruments will be one of the issues with which we will speak for the current year and until 2023.

Crypto Awareness Growing, Even Among Children

A nationwide survey conducted in July by the National Agency for Financial Studies (NAFI) found that only 28% of Russians have heard of cryptocurrencies including bitcoin. While “cryptocurrencies remain exotic for the overwhelming majority of our compatriots,” NAFI Project Manager Sergey Antonyan said interest in them is growing.

Even Russian children are increasingly investing in cryptocurrencies. At an all-Russian competition called “Digital Economy: Generation Z” last month, Russian children “competed, answering questions about cryptocurrencies, chatbots, blockchains and biometrics,” Tass reported. The event was held in the Moscow’s “Horoshkol” high school gymnasium, which was built with funds from the head of Sberbank, Herman Gref, who was also a judge for the competition.

School children from 11 to 17 years old with “experience in creating digital projects based on neural networks and blockchains and who own an investment portfolio of several cryptocurrencies” were invited to participate, the publication wrote, adding that:

It seems to sound unrealistic – school children with cryptocurrencies, but in three days 50 applications from all over Russia were received. 7 participants were selected for the competition.

Recently, news.Bitcoin.com reported on five top educational establishments incorporating cryptocurrency into their traditional banking and finance courses. Moscow State University, Higher School of Economics, St. Petersburg State University of Economics are among them.

Do you think Russia should add cryptocurrency to its population’s financial literacy strategy? Let us know in the comments section below.

Images courtesy of Shutterstock, Sergey Bobylev, and Tass

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Tinkoff bank in Russia says it fears losing technological superiority without its own cryptocurrency.

Alleged BTC-e operator Alexander Vinnik has had his first extradition hearing after being arrested in Greece on charges of money laundering.

Most cryptocurrency enthusiasts are well aware of how currencies work. More specifically, people know Bitcoin transactions don’t always represent purchases or payments for services rendered. In most cases, funds are being moved to and from exchange or mining rewards are distributed. If the number of transactions per day goes down, that is not necessarily something … Continue reading Should we be Concerned About all Major Currencies Seeing a Decline in Transactions per day?

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