NewsReviews: Week of Jan 27th, 2020

What are the latest, greatest developments in digital assets and blockchain? Apifiny’s experts highlight the week’s top headlines.

Bitcoinist: National Crypto Rupee Proposed in Indian Draft Blockchain Strategy

• The National Institute for Smart Governance (NISG) drafted a document with the purpose of defining an ecosystem in which blockchain and crypto can flourish. This document envisions India being a leader in blockchain technology with emphasis on collaboration between India’s government and the RBI on an official cryptocurrency for India.
• This draft focuses on how regulations should be based on the function of the blockchain rather than the technology as a whole. The article states “Through a National Permissioned Blockchain the Indian government can offer ‘Trust as a Service’ to a variety of decentralized applications and any number of permissioned blockchain apps it added.”
• While this does not mean crypto trading is allowed in India, it is heading in the right direction. Crypto assets are allowed in India, but regulated institutions cannot offer them in the country.

CoinDesk: Over 1,000 Bitcoin Miners Granted Licenses in Iran: Report

• A member of Iran’s Banking and Economic System Reference Media, (IBENA) reported before a mining company can begin operation, they must apply for a license. So far, 1,000 licenses have been issued and IBENA added in their report “if the local mining industry were to function at full capacity, it would bring $8.5 billion into the local economy.” — a huge impact for Iran.
• Iran is in need of foreign exchange volumes, but due to imposed banking sanctions Iran’s economy is negatively affected. Digital currencies can be used to establish trade and at the same time import foreign currency to get around the sanctions.
• ICT Guild Organization’s aim is to refine Iran’s crypto mining conditions. The end-goal is to see a boost in crypto mining through change in electricity rates and promoting relationships between Iranian crypto miners and power plants.

CryptoVibes: Tim Draper Advises Millennials to Invest in Bitcoin

• In a recent interview with FOX Business, Tim Draper advised those millennials trying to save capital for the future to buy bitcoin as he believes the current financial system is outdated.
• At the moment, many millenials have the burden of copious amounts of debt and with current salaries, it makes it extremely difficult to pay off. Due to these reasons, Draper urges millennials to start building their savings by investing in bitcoin. Not only does bitcoin not impose heavy fees but also offers no regulations on transactions.
• In order for this to be a reality, merchants would need to begin pricing items in BTC. The reason being is prices are set in the local currency, so inflation will still be an influence on prices.

Podcast Pick of The Week:

This week’s podcast pick is a pair: Unchained and Unconfirmed. Both are hosted by Laura Shin, a former senior editor of Forbes who stands as one of the first mainstream reporters to cover crypto. Go long with the hour-long “Unchained,” or take the shortcut with “Unconfirmed” which clocks in at a quick 20 minutes. Insightful interviews with hard-to-get guests make these two of our go-to’s.

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