Weekly News Roundup (11/12/19)
Welcome to our Snowball cryptocurrency media digest. Here we will provide you with regular updates on trending news from the blockchain and crypto space.
This week in crypto:
Facebook Crypto Boss: ‘I Don’t Think of Bitcoin as a Currency:’ David Marcus, the head of Facebook’s cryptocurrency projects, on Wednesday said that Bitcoin is digital gold, but it’s not a good currency for transactions. “I don’t think of Bitcoin as a currency. It’s actually not a great medium of exchange because of its volatility,” Marcus said speaking at the New York Times DealBook Conference in New York. “I see it as digital gold.” Read more.
A Digital Dollar for a Strong United States Financial System: Coinbase’s legal chief is calling for private sector leadership in developing America’s digital currency. In a Fortune column published Monday, Brian Brooks argues that the private sector should build the technology, and the public sector should set monetary policy.. Read more.
Stellar’s Foundation Just Destroyed Half the Supply of Its Lumens Cryptocurrency: The Stellar Development Foundation has burned 55 billion of its XLM tokens, over half the cryptocurrency’s supply, CEO Denelle Dixon said. Previously, there had been 105 billion XLM in existence, with 20 billion in circulation. With this burn, the supply has shrunk to 50 billion. “We didn’t start by wanting to burn. We started by asking, ‘What do we need?’” Dixon told the room of roughly 200 attendees. “As much as we wanted to use the lumens that we held, it was very hard to get them into the market.” Read more.
French Kids Will Now Learn About Bitcoin at School: High school students in France may be among the first people in the world to actually understand how cryptocurrency works.French high school children will soon learn about Bitcoin, after the cryptocurrency was added to the syllabus for Economics and Social Sciences. Le Ministère de l’Éducation Nationale, the French education ministry, has outlined Bitcoin‘s inclusion in the curriculum, noting how it will use the cryptocurrency to help students think about the characteristics of money. Read more.
Shanghai Regulators Say Blockchain Solves Trade Authentication, Financing Issues: The use of blockchain technology solves the issue of information asymmetry in trade finance and the core problem of providing proof of trade authenticity, the Shanghai headquarters of the People’s Bank of China and the city’s commerce commission said in a statement on Thursday.Read more.
Join our Snowballin’ community:
Snowball app is now available in Apple App Store (US) ↓
