The Excise department in Thailand

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The Excise department in Thailand is poised to introduce a new way of refunding overpaid taxes to grease exporters by means of using blockchain science.

 

On Nov. 25, director-normal Patchara Anuntasilpa told the Bangkok submit that the Thailand Excise department will trade its present tax refund observe by means of introducing a blockchain-situated tax payback procedure, which it hopes to enforce by using the middle of 2020.

 

One of three blockchain-situated pilots

Patchara defined that the future tax payback process would require oil exporters to pay excise tax and declare overpaid taxes after they've shipped the fuel. Blockchain science will make it more efficient for the division to inspect the tax repayments, he introduced.

 

Presently, oil exporters are required to put up records for a tax waiver, and the inspection will not be as thorough as it could be, according to Patchara.

 

The Excise department will reportedly collaborate with the Krungthai bank to advance the blockchain-situated tax refund process, which is certainly one of three pilot initiatives. The opposite two projects involve e-bank guarantees, annual rate cost for liquor and tobacco, and playing card distribution licenses.

 

Oil and fuel organization develops blockchain-based renewables platform

In September, the Thailand-based multinational vigor conglomerate PTT and blockchain vigour nonprofit vigor net basis announced that they will build a blockchain-established renewables platform. The two events have been in the midst of constructing a regional solution established on the power net Chain, in order to also be compliant with the global Renewable power certificates (I-REC) average, which certifies renewable power sources.

 

In 2018, Thailand reportedly produced about 28 million megawatt-hours of clean electrical energy, even as simply 0.Sixteen million I-REC MWhs have been issued. EWF CEO Jesse Morris said that the new blockchain-headquartered platform will help to attach deliver and demand for the certificates.

Cryptocurrency institutional investors overwhelmingly

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Cryptocurrency institutional investors overwhelmingly hold their wealth on exchanges despite the inherent security dangers, new data claims. 

 

Compiled by means of cryptocurrency alternate Binance on Nov. 22, a survey requested seventy six institutional buyers who used its platform about their trading habits. 

 

Alternate storage “most standard choice”

The survey used to be a part of Binance’s Institutional Market Insights research, which is now in its second model.

 

Among the many most stunning results was that ninety two% of individuals chose to preserve their crypto — Bitcoin (BTC), stablecoins and others — with trusted 1/3 events, and not underneath their possess control.

 

The figure dwarfs a lot safer choices similar to hardware wallets and different bloodless wallets. 

 

“Exchanges stay as the most standard option for cryptoasset storage amongst our institutional and VIP customers at ninety two.1%,” Binance summarized. Researchers introduced:

 

“When relocating to self-storage, cold wallets are the 2nd most appreciated choice, given their extended security and manipulate. 1/3-celebration custody offerings were the least wellknown option at 2.6%.”

 

The seventy six traders can't be said to have huge exposure in phrases of capital — over 50% had complete crypto holdings of under 10 models of a coin. 10 BTC currently equals around $72,000.

 

Needs to take again control of crypto

As Cointelegraph suggested, buyers face tremendously accelerated hazard of loss and theft of coins if they remain in wallets to which they don't control the private keys. 

 

Exchanges, including Binance, continue to peer hacks this yr, at the same time regulatory scrutiny can also see cash locked up with out discover until an account owner provides personal identity information.

 

Efforts to make investors mindful of the must manipulate their cash are mounting. On Jan. 3, the 2nd annual Proof of Keys event will challenge all Bitcoin holders to dispose of their cash from 1/3-celebration wallets.

 

The brainchild of recommend trace Mayer, preparations for the move, which coincides with the anniversary of the Bitcoin genesis block, are already a usual sight on social media.

Ethereum (ETH) co-founder became Cardano (ADA) creator Charles Hoskinson

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Ethereum (ETH) co-founder became Cardano (ADA) creator Charles Hoskinson stated that he expects Bitcoin (BTC) to be again over $10,000 and attain $one hundred,000 at some point.

 

In a tweet published on Nov. 22, Hoskinson advised the cryptocurrency community that Bitcoin is more than speculation, putting the blame on the today's drop in price on information media “FUD” — or fear, uncertainty and doubt — and market manipulation. 

 

A worldwide action

given that there’s extra to Bitcoin than simply fee actions, he expects the world’s largest cryptocurrency to peer more beneficial properties in the future. He mentioned:

 

“Bitcoin's rate goes down? Recall all people, after the FUD, information buying and selling and manipulation clears out, we nonetheless have a worldwide action that's going to vary the arena. We will see 10k btc again and welcome 100k. Crypto is unstoppable. Crypto is the future.”

 

Bitcoin’s recent fee motion

As Cointelegraph mentioned, Bitcoin and altcoins have seen a remarkable price slash the previous day. More precisely, Bitcoin in brief dipped beneath $7,000 before settling quite bigger.

 

Still, as Cointelegraph’s market evaluation pointed out, Bitcoin dominance is up for the week at sixty nine%, that means that BTC has once once more outperformed different cryptocurrencies during the regardless of its decline this week.

 

Shortly after the cost drop, Bitcoin futures day-to-day volumes on digital asset platform Bakkt have hit a brand new all-time excessive, displaying an elevated interest in capitalizing on the renewed volatility.

 

In October, Hoskinson also expressed the notion that if Bitcoin fails, the whole cryptocurrency industry might fail.

 

The non-profit Human Rights foundation (HRF) has analyzed the censorship

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The non-profit Human Rights foundation (HRF) has analyzed the censorship and privacy panorama of stablecoins in a record released on Nov. 20.

 

For privacy cash that are not stablecoins, the most important single-week losses to this point this year have ranged between 24% and 34%, the HRF notes; a indisputable fact that bolsters the attractiveness of stable-value crypto assets, specially for citizens in hyperinflationary economies.

 

Blockchain-situated stablecoins don't simplest provide the soundness advantages of the U.S. Dollar but can “democratize entry to that stability,” according to the report. 

 

The HRF extra states that such property have the capabilities to free residents from the deleterious have an impact on of state-imposed capital controls and from centralized oversight by using digital payment processors and different bank and non-financial institution intermediaries. 

 

But for all these prospective benefits, the HRF deems censorship resilience and privacy to be a significant — and under-scrutinized — aspect of the asset class. 

 

HRF’s evaluation

As when compared with fiat currencies, all stablecoins can also be held and transacted pseudonymously with public-exclusive cryptographic key-pairs and are commonly more proof against censorship or forfeiture with the aid of state authorities or extortion via criminal actors.

 

Nevertheless, per the document, a few stablecoin issuers may just themselves compromise the expertise financial autonomy of residents via introducing blacklists that permit them to freeze stablecoins held at distinctive addresses, so that you could include the opposed influence of hacks, for example. 

 

The issuers of Tether (USDT), USD Coin (USDC), TrueUSD (TUSD), Pax average (PAX), and Binance USD (BUSD) all have this performance, the report notes.

 

HRF’s record includes a list of chosen dollar-pegged assets indicating whether or no longer they may be able to be frozen and, additionally, whether or not their code — the full blockchain and intelligent contract good judgment that underpins the property — is open supply.

 

Privacy aspects of various stablecoins

 

privacy elements of various stablecoins. Source: HRF

 

while open sourcing makes it possible for for scrutiny of the technical capabilities that the property’ issuers have and their historical past of freezing property, the information does no longer in itself give insight into the motivations at the back of such selections, the file states. The authors add:

 

“It’s good to take into account, nevertheless, that an asset is handiest as unfreezeable as its underlying ledger. Even as Tether might not be capable to freeze the USDT circulating on Liquid, it currently handiest takes the in poor health-will of 5 corporations (⅓ of the Liquid blockchain operators) for an asset to be frozen.”

 

insufficient privateness tooling within the stablecoin sector 

As regards privateness, HRF notes that blockchain analysis companies reminiscent of Chainalysis — which licenses its tools to quite a lot of governments’ regulation enforcement units — can at present surveil 90% of all cryptocurrency buying and selling quantity in combination.

 

Given the blockchain’s immutability and the ensuing advantage for massive retrospective investigation, privateness tooling is principal, HRF states — yet most stablecoins are, in its words, “tremendously lackluster” in this regard.

 

USDT on Liquid is classified positively on this gentle, whilst Dai (SAI) on Ethereum is reportedly inclined — despite the fact that the file entails a shortlist of technologies — together with mixing services and 0-knowledge privacy systems for Ethereum — that can aid alleviate many of those shortcomings.

 

The day past, Cointelegraph pronounced that tech funding company Cypherpunk Holdings accomplished an equity investment worth $337,500 in zkSNACKs, the company in the back of privacy-centered cryptocurrency wallet Wasabi.

 

Джон Пфеффер, основатель Пфеффер капитала

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Джон Пфеффер, основатель Пфеффер капитала, вместе с Трэвисом Клинг, основатель и CIO икигай Управление Активами и Чарльз McGarraugh, руководитель отдела рынков для блокчейна, обсудили биткоин (БТД) в контексте выходе Великобритании из ЕС, торговые войны и геополитической неопределенности.

 

В Ноябре. 20, группа из трех человек села на интервью с Аластером маршем из Bloomberg на брифинге Future of Digital Assets в Лондоне, где они более подробно рассмотрели идею о том, что биткойн становится более привлекательным в качестве инвестиций во времена глобальной неопределенности.

 

Биткойн-это конечный магазин ценностей?

(1:20) Чарльз Макгарро начал разговор, согласившись с идеей, что BTC действительно становится более привлекательным во время угроз рецессий и общих глобальных времен неопределенности. “Я полностью согласен с этой идеей, - сказал он.

 

(3:12) Джон Пфеффер продолжил, сказав, что BTC готов стать цифровым золотом. "Рано или поздно это произойдет”, - сказал Пфеффер, указав, что если бы BTC уже считался сегодняшним цифровым золотом, потенциал роста BTC не был бы таким же, поскольку он стоил бы по крайней мере на один или два порядка больше. Он добавил :

 

“Мы думаем о [BTC] в нашем портфеле, поскольку он входит в наш венчурный портфель. [...] Это предприятие, которое стремится стать цифровым золотом,и демонстрирует большие перспективы для этого. Потому что он еще не сделал этого [...] есть много плюсов, но и минусов.”

 

(5:35) Трэвис Клинг дает, пожалуй, самый прямой ответ, когда он говорит, что биткойн-это рисковый актив с конкретными инвестиционными характеристиками, “которые становятся все более привлекательными, чем более безответственная денежно-кредитная и фискальная политика центральных банков и правительств во всем мире", добавив:

 

"Инвесторы в BTC сегодня не инвестируют в биткойн как хранилище ценности сегодня, мы предполагаем, что он может стать хранилищем ценности, потому что у него есть характеристики, чтобы быть хорошим хранилищем ценности.”

 

(11:00) Клинг далее указывает, что если бы Соединенные Штаты все еще придерживались золотого стандарта и балансировали свой бюджет каждый год вместо того, чтобы тратить на триллион долларов больше, чем они собирают, “нам, возможно, не нужен Биткойн так много. Однако, как говорит Клинг “ " это не тот мир, в котором мы живем.”

 

Рост госдолга США не является устойчивым

В ноябре глава Федеральной Резервной Системы США Джером Пауэлл отмечал, что в настоящее время госдолг США растет быстрее номинального ВВП. Он признал, что нынешняя экономическая политика не является устойчивой, но это не его работа, чтобы исправить это. “В конечном счете, в долгосрочной перспективе это не устойчивое место”, - сказал он. 

 

Долг США в настоящее время превысил $23 трлн, что составляет $70 000 на душу населения, или более $1 млн за каждый биткойн, который когда-либо будет существовать.

Lagos-headquartered fintech Opay has sealed $one

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Lagos-headquartered fintech Opay has sealed $one hundred twenty million in a sequence B financing spherical from a number of excessive-profile chinese buyers.

 

based in 2018 through web browser developer Opera, OPay — which specializes in developing digital bills solutions to promote monetary inclusion — had previously raised $50 million in June of this year, consistent with what Opera’s spokesperson advised Cointelegraph. 

 

Opay to extend payments solution across Africa

in step with a Nov. 18 record from TechCrunch, Opera’s OPay reportedly intends to use the new series B $a hundred and twenty million round to scale and enlarge its digital payments answer past Nigeria to Kenya, Ghana and South Africa. 

 

The round reportedly included large-name project capital buyers Sequoia China and Softbank Asia, IDG Capital, along Meituan-Dianping, GaoRong, source Code Capital, BAI, Redpoint and GSR Ventures.

 

due to the fact that its collection A $50 million spherical, OPay’s business in Nigeria has grown to 140,000 active marketers and hit $10 million in daily transaction extent, in line with TechCrunch.

 

Opera backing

Norway-based, chinese language-majority owned software developer Opera is both surprisingly energetic inside the cryptocurrency sphere and in the African client market. Its eponymous internet browser is the second one most extensively used at the African continent, after Google’s Chrome, consistent with 2018-2019 statistics from Statcounter.com

 

The enterprise actively pursues internet three.zero improvement and step by step included crypto pockets and bills-functionality into its cell and computer merchandise in latest years.

 

“net three.zero” is a time period that was initially coined to consult efforts to develop a semantic internet, and is increasingly used to consult the evolution of a more smart, open and allotted web, which could combine the usage of blockchain, decentralized computing and cryptocurrencies.

 

Fintech and blockchain funding on the continent

As TechCrunch notes, Africa-based startups — which includes OPay, PalmPay and Lori structures — have secured a blended total of $240 million from 15 extraordinary chinese language traders in a count of months. 

 

In terms of the increasingly more vibrant fintech and go-border bills space, Nigeria-based Interswitch lately hit unicorn status following an fairness investment from Visa and plans to head public in the destiny.

 

As Cointelegraph has said, blockchain is gaining growing traction in Nigeria, with lawmakers spearheading a statutory framework for crypto and blockchain regulation and personal sector blockchain schemes for areas such as transportation infrastructure recently launching in the u . s ..