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.
Top 6 universities from the US, including MIT, are busy developing what they claim to be the fastest cryptocurrency ever. Called Unit-e, the cryptocurrency is being built from scratch, using a version of blockchain that would accommodate a thousand transactions per second.
Bitcoin, the biggest cryptocurrency, tops out at 7 transactions per second, while Ethereum goes at 30 transactions a second. Will the new cryptocurrency being developed eventually dethrone Bitcoin? Only time will tell.
Crypto Bills Tabled in Congress: US Congressman Tom Emmer introduced a bill titled the Blockchain Regulatory Certainty Act that would exempt cryptocurrency related companies from money transmission laws if they are non-custodial in nature.
Emmer is also a member of the US House Financial Services Committee and co-Chair of Blockchain Caucus. If passed, the bill would help in accelerating the development of blockchain related industry and businesses on US soil.
Ex-Congressman Criticizes Current Approach to Crypto Sector: An ex-congressman, George Nethercutt has also criticized the US government for being too conservative and throttling the development of a technology that can help the country grow.
According to him, the Securities and Exchange Commission (SEC) laws are from the 1930s and should have no role to play in regulating cryptocurrencies.
Douglas County Announces Blockchain Innovation Campus: Douglas County in Washington has revealed plans for a blockchain innovation campus.
With a number of crypto mining farms in the county, due to its cheap hydroelectric power, the county already boasts of a number of blockchain startups and mining farms. The development of a dedicated area for blockchain companies to work would cement its place as a local industry leader.
Cryptocurrency Bills Passed by State Legislature: Two bills concerning cryptocurrencies have been passed by the State of Wyoming.
One of the bills caters to utility tokens, declaring them as intangible personal property and requiring no exemption from security regulators since they are not securities now. The second bill is set to provide a sandbox for crypto platforms to test various services while being shielded from specific laws and regulations.
Nevada to Test Marriage Registration on Blockchain: Love is in the air for Nevada blockchain enthusiasts. Washoe County in Nevada allows its residents to cement their vows on the immutable blockchain.
The county has turned towards the Ethereum blockchain as it offers a simple way to record marriage certificates. Couples now do not have to wait for 10 days for issuance of their marriage certificates. The county also records births on the blockchain, issuing them as quickly as those of marriage.
Bankers Association Pushing for Blockchain Adoption: The Canadian Bankers Association (CBA) is pushing banks for a larger and broadscale adoption of blockchain due to the added benefits it carries.
The CBA calls for linkage of federal and provincial ID database on the blockchain. This, according to the association, would allow banks to authenticate clients digitally and replace the current slow, paper-based version which is prone to security lapses.
State Cryptocurrency Close to Becoming a Reality: Once the testing ground for nuclear tests by the US, the Marshall Islands governments blockchain team has announced it has made major achievements in developing a central bank backed cryptocurrency, dubbed the Sovereign.
Although the country has faced a lot of criticism from major financial institutions and regulators from around the world, it seems the tiny island nation is going full steam ahead.
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