Asia and Australia
Welcome to another weekly blockchain news roundup from around the world. Here, we present to you all the latest Bitcoin news, continent by continent and country by country.
Chinese Cryptocurrency Projects being Tested After Slump in Prices: Chinese cryptocurrency projects including big miners have been hit by the recent slump in prices of Bitcoin with some even halting operations for the time being.
With many of the projects no longer feasible for the operators, there are growing concerns regarding the future of the market, but unsurprisingly, many are standing firm at the moment.
Government to Regulate Cryptocurrency Wallet Providers: The Japanese Financial Services Agency (FSA) is expected to impose new regulations on cryptocurrency wallet providers according to an account of its latest meeting.
The agency has been actively trying to regulate the cryptocurrency industry and recently concluded its ninth study group meeting. The major topic of the recent meeting was wallet providers because FSA currently doesn’t impose any regulations on wallet providers. The agency decided to bring them under their jurisdiction because they manage money transfers and storage of digital currencies.
New Project to Adopt Blockchain for Beef Supply: A new project in South Korea will see blockchain technology being used in the beef supply chain to create more transparency for consumers.
According to local Yonhap news, the project is being conducted by the Ministry of Agriculture, Food and Rural Affairs in partnership with the Ministry of Science and ICT. The pilot will be conducted in the North Jeolla Province by December and it will then be launched countrywide by January 2019 for slaughterhouses.
Government Looks to Blockchain for Smarter E-Government Initiative: The South Korean government is looking to Distributed Ledger Technology (DLT) in its vision for a smarter e-government initiative.
The Ministry of Interior and Safety (MOIS) announced that technologies like DLT, AI and IoT will be used to address particular challenges in realizing this dream.
Blockchain to Power New Micro-Grids in South Korea: South Korea’s largest power provider KEPCO has said that it is planning to launch microgrids in the country with blockchain technology at their backend along with other innovative solutions.
Kim Jong-gap, the president and CEO of KEPCO said that the future of microgrids lies in energy-efficient systems and increasing green outlook of the system. The end goal of the initiative is to supply stable power with increased efficiency to the customers.
Government to Host First International Blockchain Summit in Pyongyang: The North Korean government has announced to hold the first cryptocurrency summit in the country according to a recent press release on the government website.
The conference will be held from 18-19 April 2019 and will host experts from around the world.
According to the website:
“International experts in the blockchain and crypto industry will gather for the first time in Pyongyang to share their knowledge and vision, establish connections and discuss business opportunities.”
It is yet unclear how many people have actually signed up for the event since North Korea is not regarded by many as a safe destination to travel.
First Crypto Bill Expected in December: India’s first crypto bill is expected in December according to sources within the Indian government. Cryptocurrency exchanges and trading are currently banned in the country following a tussle between the government and the exchange operators.
While it remains a contentious topic, the crypto community would be looking towards the new bill with hope.
Payment Company Allows Users to Pay Bills with Cryptocurrencies: IvyPay, a payment company in Australia has announced a new service that will allow the members of the public to pay bills with cryptocurrencies.
IvyPay’s latest service will allow more cryptocurrency adoption in the country since the current use cases remain limited.
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