Crypto and Blockchain News Roundup 8th to 14th July, 2019
Blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.
New digital token for Brazilian farmers: Minasul, a large corporation of coffee beans in the country, has announced the deployment of a new digital token, according to a Bloomberg report.
Jose Marcos Magalhaes, the President of Minasul, said: “Members of farms can use the “coffeecoin” to buy fertilizers, machinery and other non-agricultural products, including cars and food.”
Holders of the coin will also be eligible for exchange with coffee beans including 30% of the crop reportedly earmarked for this purpose.
New rapporteur appointed for cryptocurrency regulation: The Brazilian government has appointed Danitzo Ribeiro as the chairman of the special commission to evaluate the 2303/2015 bill regarding regulation for cryptocurrencies in the country. In addition to Ribeiro, Expedito Netto has been appointed the rapporteur for the new case.
While Netto has been on record against cryptocurrencies, it is hoped that he will take a lighter stance this time around.
University offers free course for blockchain tax understanding: The Jacareí/SP unit of College will offer free courses for understanding the new sectors especially “innovations in accounting and tax areas: application of Blockchain, Big Data, and Business Intelligence”.
According to Diego Rosa, the coordinator of the course: “One of the biggest advantages of using the technology at work is to be able to optimize certain process [sic] and facilitate the execution of tasks with the aid of technological tools. It is clear that the accounts, which is large and complex and bureaucratic processes, won’t be out of the control of management.”
The new developments will take time for understanding, according to Rosa and the universities are helping people understand the new sector.
Trading volume hits new record in Brazil: A new all-time trading record for June has been set in the country according to the latest report released by bitValor.
According to the report, over 26,000 BTC were traded in national exchanges worth more than BRL 1 billion.
According to the report: “bitValor monitors a set of national exchanges that follow specific criteria, including the supply of all historical trades via API, the publication of the book of offerings, the quality of the data of trades through analysis of anomalies statistics, among others. In this way, not all national exchanges are in this analysis for different reasons, and our wish is that all of them may one day be listed, by improving the transparency of the market.”
P2P Bitcoin trading at highest level since November: Argentina saw massive trading activity on localbitcoins.com, the biggest P2P bitcoin swapping website in the world.
According to the latest figures from Coindance, the global weekly trading figures also took a healthy jump in addition to geographical trading hotspots like Argentina itself. According to the report, the trading volume hit a new record high of ARS 15.22 million (approximately USD 364,000) during last week which is an all-time high for the inflation stricken country.
Other struggling economies in the region like Venezuela also saw the highest ever volume posted with over VEF 47 billion traded on localbitcoins.com. Both of these countries are suffering from hyperinflation and thus cryptocurrencies offer a way to circumnavigate the crippling effects of the vicious cycle.