11/10/2018: Biggest Stories in the Cryptosphere

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BlockEx
Oct 11, 2018 · 3 min read

by BlockEx

1. PBoC Is Recruiting For Its Central Bank Cryptocurrency

The People’s Bank of China (PBoC) wants to recruit experts in blockchain, as well as the law surrounding it, to help with the development of the yuan-based central bank digital currency (CBDC). It’s been revealed that they are currently on the search for four engineers with knowledge of “system architecture, chip design, blockchain development and application, cryptography and security protocol design”. Their tasks will include the development of a fiat-backed digital currency programme, a cryptography and security model, and, a chip processor for “end-point digital currency transactions”. PBoC also wants to hire staff to analyse the legality and the economic effect of launching a CBDC. Although the central bank hasn’t shared significant details regarding the size of its team, the new update seems to signal the bank taking this technology seriously. It was even previously reported that China was the country filing the highest amount of blockchain patents in 2017.

2. South Korea May Reveal Its Position On ICO In November

The relationship between South Korea and crypto had its ups and downs. However, there is now a chance that the Korean government may disclose its stance on ICO in November. Office for Government Policy Coordination Chief Hong Nam-ki stated during a parliamentary audit that ICOs have been a frequent topic of discussion. He went on to say that in order to be in the position to announce the government’s official position, the office needs for the results from a previous survey to be available. Indeed, last month, the Financial Supervisory Service issued a survey to investigate local blockchain firms’ opinion on the current legal framework. Nam-ki also reiterated the government’s desire to allow blockchain technology to flourish in the country through investment. In fact, 14 billion won (US$ 12.3 million) will be invested in 2018 and 20 billion (US$ 17.57 million) in 2019.

3. Yale Is Not The Only Ivy League Uni Investing In Crypto

Less than a week ago, we reported on Yale University investing in $400 million crypto fund Paradigm. The fund for the investment came from its $29.4 billion budget. However, it seems that it is not the only ivy league university investing in crypto. In fact, Dartmouth College, Harvard University, Massachusetts Institute of Technology, Stanford University, and the University of North Carolina have also decided to invest in at least a crypto fund. The funds in question, in which tens of millions have been invested, are purchasing equity in crypto company as well as cryptocurrencies. The move from these universities will probably add legitimacy to the industry. The fact that these universities’ endowments decided to invest in crypto assets indicates a switch in behaviour from investors.

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