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coinjokernews started following Singapore Government-Supported Blockchain Accelerator
a topic posted coinjokernews in Crypto-tradingAccording to a recent report, BMW Group Asia, Intel and Nielsen are now official partners of the Tribe, a Singapore government-supported blockchain accelerator Tribe. Tribe Will Enjoy Support From Three Major Global Companies The accelerator made it known in a recent release that it will be sharing knowledge and subject expertise in respective fields with the three firms. This will do well to help with the building of an “inclusive” ecosystem “ready for industry 4.0.” It was reported that one of the partners, BMW Group Asia, will be in charge of providing “masterclasses” and mentoring sessions on how blockchain solutions can be implemented in a mass market situation. This was confirmed in a statement made by Carsten Sapia, vice president – group IT and head of the Asia Pacific region, BMW Group Asia, which reads: “We hope we can help each of these startups develop their proofs-of-concept and reach the next stage of their development,” Intel Corporation’s contribution to the partnership will be the offering of business and technical mentorship to startups. Intel’s blockchain program director Michael Reed commented that: “Intel technologies like Intel Xeon Scalable processors and Intel SGX can help improve privacy, security, and scalability of blockchain solutions,” Lastly, Nielsen will provide “a sandbox with the objective of providing participants with a safe, controlled environment to test new technologies and accelerate the adoption of their solutions.” Tribe Accelerator managing partner Ryan Chew has also stated that: “To move forward as a society, we need to encourage experimentation, and once the benefits of blockchain technology become evident, mainstream adoption will undoubtedly follow.” Click here to read more about cryptocurrency news today , bitcoin news today , blockchain technology news live
a topic posted coinjokernews in Crypto-tradingTo really trust an international body on where they stand on cryptocurrencies, it is prudent to check their views when the market is going through a rough time.Case in point: The International Monetary Fund (IMF) recently said, “Despite the hype, cryptocurrencies still don’t fulfill the basic functions of money as a store of value, means of exchange, and unit of account. Because their value is highly volatile, they have little use so far as a unit of account or a store of value. Limited acceptance for payment restricts their use as a medium of exchange. Unlike with fiat money, the cost of producing many cryptocurrencies is high, reflecting the large amount of energy needed to power the computers that solve the cryptographic puzzles.”A paper on the topic, was written by Antoine Bouveret who is an economist and Vikram Haksar who is an assistant director in the IMF’s Strategy, Policy, and Review Department.This statement comes, barely a year after the IMF’s chairman, Christine Lagarde said, she thought cryptocurrencies would be better for the future.In April last year, Lagarde had said, “Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto-assets that survive could have a significant impact on how we save, invest and pay our bills. That is why policymakers should keep an open mind and work toward an even-handed regulatory framework that minimizes risks while allowing the creative process to bear fruit.”Apart from that, at the Fintech Festival in Singapore, last November, she had made the case for cryptocurrencies and had said, “Data is the new gold and physical cash is on the way out.” She had also added, “Various central banks around the world are seriously considering these ideas, including Canada, China, Sweden, and Uruguay. They are embracing change and new thinking—as indeed is the IMF.”The rest of the paper primarily talks about the risks and pros of cryptocurrencies. While illuminating the good side of cryptocurrencies, the paper also says, that the pseudo-anonymity of many cryptocurrencies makes them vulnerable to use in money laundering and terrorism financing, if no intermediary checks the integrity of transactions or the identity of the people making them. Click here to read more about cryptocurrency news today