Cryptocurrency News Roundup | August 27— September 2
Welcome to the PlayChip blog cryptocurrency news roundup, where you can keep up to date on all of the weeks important cryptocurrency and blockchain related news.
CSIRO And IBM to Develop National Blockchain Solution
The CSIRO’s Data61 announced this week they will be collaborating with law firm Herbert Smith Freehills and IBM to build the Australian National Blockchain (ANB).
The Data61 team is a digital innovation initiative formed in 2015 following a merger of the National Information and Communications Technology Australia (NICTA) research centre with the CSIRO.
The goal of the ANB will be to provide smart legal contracts (SLC) for Australian businesses to leverage the power of the blockchain without investing significant resources into research and development.
The team will leverage the power of the blockchain to improve process automation, reduce friction of supply chains and to provision secure information sharing between customers and regulators.
An example provided in the press release details a scenario whereby a shipment is delivered to it’s destination, at which point an array of sensors are able to detect that this delivery has been completed. The smart contract receives a confirmation that a condition has been met, this information can then be communicated to the recipients bank confirming that a successful delivery was completed and to authorise a payment.
Apple Bends App Store Rules for Kik Messenger Token
Apple has given an exemption to the Kik Messenger teams Kinit app, allowing it to be listed on the App Store even though the app appears to contravene the software platforms own restrictions on cryptocurrencies. The Kinit app is the Kik Messenger teams first foray into the cryptocurrency landscape.
Apps which enable users to earn cryptocurrency as a reward for completing tasks like downloading other apps or posting to social networks do not comply with Apple’s policy on cryptocurrency apps.
3.1.5 (b) Cryptocurrencies
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(v) Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.
The Kin token (CRYPTO:KIN) will be the native cryptocurrency of the Kinit ecosystem. Users are able to earn Kin tokens in multiple ways, including completing surveys, quizzes and polls. Some big name brands are already involved with the project, the Kinit team announced on their blog that both Red Bull and Swarovski have sponsored polls through partner Swelly.
Kin tokens can then be spent on the Kin Marketplace to redeem gift cards from names like Amazon and Google. The app will also serve as the wallet for the Kin token.
Yahoo! Finance Adds Cryptocurrency Trading Functionality
The Yahoo Finance portal has added the ability to buy and sell major cryptocurrencies this week, the brokerage service is provided by America’s largest cryptocurrency exchange Coinbase.
Yahoo’s Internet search business never was quite able to keep up with Google, the site did survive in part by focusing on providing high quality, up to date financial news and market statistics. Financial news remains Yahoo’s core business and this week the site added the ability for users to purchase or sell cryptocurrency directly via the Yahoo Finance interface.
The service requires users to have both a Yahoo and a Coinbase account, once the Yahoo account has been authorised to act on behalf of the Coinbase account users will be able to buy and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash directly, without leaving the news portal.
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