Blockchain Weekly – April 10th, 2020

Blockchain Weekly features short summaries of the five biggest headlines from the world of blockchain.

With the global economy going through turbulent times, blockchain technology is witnessing increasing adoption as big names like the World Health Organization use the technology to fight the crisis. 

CBDC Adoption increases as Governments print fiat hastily 

As the COVID-19 global pandemic pulls down the economy, governments across the world are trying to stabilize the economy by flooding the markets with fiat. The U.S. Federal Reserve announced yet another $2.3 trillion stimulus package for the coronavirus-stricken economy. The Bank of England came up with a similar announcement. Amid the crisis, the interest in Cryptocurrencies and CDBCs (Central Bank Digital Currencies) has grown significantly.  Last week, Bank for International Settlements (BIS) stated in its April 3 bulletin that COVID-19 is changing the public’s relationship with cash and may speed up the adoption of digital payments & cryptos.

Multinationals have filed 212 Blockchain patents in China in 2020

By the end of March 2020, 35 multinationals, including Microsoft, Walmart, Mastercard, Sony, Nokia, and Intel, applied for a total of 212 blockchain patents in China. Of the 212 patents, Mastercard tops the list with 46 such patents to its name. China’s National Intellectual Property Administration streamlined its patent-filing process to align with China’s strategic prioritization of new tech and strengthening protections for intellectual property.

Binance Acquires CoinMarketCap

Binance the world’s biggest cryptocurrency exchanges announced the acquisition of  CoinMarketCap, in one of the biggest crypto mergers in history. CoinMarketCap, which is one of the most-referenced crypto data websites, will continue to operate as an independent business entity while working closely with Binance. The acquisition amount was not disclosed but it is rumored to have cost Binance $400 million. 

P2P Bitcoin Marketplaces Thriving in India

Since the Supreme Court of India lashed the crypto trading restriction imposed by the central bank, interest in cryptocurrency has skyrocketed in the country, despite the national lockdown and rising COVID-19 threat. Cashaa India, Crypto banking services platform noted a spike of 800 percent in trading volumes within 48 hrs after the ruling of the Supreme Court on April 6. 

Italian News Agency ANSA uses Blockchain to fight fake Coronavirus news

ANSA, Italy’s main news agency and an international publication owned by 24 national newspapers, launched a news tracking system named ‘ANSAcheck’ based on blockchain. The platform allows users to verify the origin and history of news with a tracking label that contains details like date and time of recording or publishing the article, registered blocks for relevant events, and links to relevant blockchain transactions on blockchain browser Etherscan.

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