Crypto Guides, Knowledge & Insights

The Chinese University of Hong Kong and ConsenSys create COVID-19 digital passport

The COVID-19 Digital Health Passport will be trialed by healthcare professionals in Hong Kong. Later on, patients will be able to access the passport through a mobile app.　　The Chinese University of Hong Kong, or CUHK, has partnered with Ethereum developer ConsenSys to launch a new blockchain-based Medoxie COVID-19 Digital Health Passport – a product that could help healthcare workers combat the pandemic.　　The passport utilizes blockchain technology to record a patients COVID-19-related events, including test results, temperature checks and vaccinations, with the aim of providing a safe pathway to full economic reopening post-pandemic. Information that is held on the passport is said to be stored securely and privately.　　Initially, the digital passport will be accessed by medical professionals and academics within Hong Kongs healthcare industry, paving the way for a new mobile app that will be extended to patients at a later date. The passport infrastructure has been built using ConsenSys Quorum and Codefi Orchestrate.　　Dr. Arafet Ben Makhlouf, senior technical architect at ConsenSys, explained how the passport could help Hong Kong and other regions transition back to normal life following the multi-year pandemic:　　“This COVID-19 blockchain passport uses trusted blockchain technology to protect user data, making it verifiable and secure. We are proud

2021-06-16Deep Dive

Top 10 Matawang Digital Dengan Potensi Pertumbuhan Terbaik Setakat Jun 2021

1. Bitcoin　　Raja semua cryptocurrency, Bitcoin, adalah yang pertama seumpamanya yang mempunyai nilai kecairan tertinggi. Mata wang kripto ini bertujuan menjadi tunai digital global, peer-to-peer yang terdesentralisasi sepenuhnya tanpa peraturan. Walaupun keadaan pasaran tidak menentu, Bitcoin adalah yang paling stabil. Walaupun namanya sinonim dengan cryptocurrency, populariti, permintaan, dan penggunaan Bitcoin dijangka meningkat banyak kali ganda dalam beberapa tahun mendatang. Masa depan itu sudah terbentuk dengan syarikat membuka idea untuk menerima Bitcoin untuk pembayaran.　　2. Litecoin　　Litecoin menduduki tempat kedua dalam senarai kami kerana modal pasaran dan nilai mudah tunai. Tidak seperti 21 juta bekalan Bitcoin, Litecoin terhad kepada 84 juta syiling dengan ganjaran blok 12.5 LTC, lebih tinggi daripada kripto lain. Bagi pelombong, melombong Litecoin akan lebih cepat daripada cryptocurrency lain kerana waktu purata untuk Litecoin hanya dua minit. Populariti Litecoin yang semakin meningkat menjadikannya yang terbaik dari yang lain di semua altcoin.　　3. Ethereum　　Ethereum adalah cryptocurrency pertama yang memperkenalkan kontrak pintar yang membolehkan pemaju membuat aplikasi desentralisasi desktop dan mudah alih yang dikuasakan oleh teknologi blockchain. Ethereum telah mengekalkan kedudukannya dalam mata wang kripto teratas sepanjang masa dan mempunyai pasukan pelabur yang setia untuk mendapatkan cryptocurrency ini. Ini bermakna Ethereum mempunyai peluang yang lebih baik untuk tetap stabil, selepas Bitcoin.　　4. Cardano　　Ini adalah cryptocurrency

2021-06-16Deep Dive

Ethereum gas fees have plunged to a six-month low. Here's why

Gas fees or transaction costs on the Ethereum blockchain have dropped significantly over the past month.　　According to The Blocks Data Dashboard, the average transaction fee on Ethereum is now around $4.5 from nearly $45 a month ago — a whopping 90% decline.　　The average transaction fees are now at a six-month low, per the Data Dashboard. (The data is a 7-day moving average (7MDA), meaning it is the average of the last seven days and indicates a short-term trend).　　So why have the gas fees declined from a record high just a month ago？ There are several factors at play.　　First, there has been a notable drop in Ethereum transactions in recent weeks. Both decentralized finance (DeFi) and non-fungible token (NFT) transactions have declined with the recent market crash.　　Daily transactions on Ethereum, for instance, have fallen to about 1.2 million versus 1.65 million a month ago. NFT transactions and volumes have also declined, per The Blocks Data Dashboard.　　Another factor behind the lower gas fees is the growing usage of Layer 2 scaling solution Polygon (formerly Matic Network). The number of transactions on the Polygon network has increased by a notable amount in recent weeks.　　From about 1.5 million, daily transactions on Polygon are now

2021-06-16Deep Dive

One in Five Kiwis Bullish on Crypto Investments, New Poll Suggests

Cryptocurrency investing has been rising in popularity among New Zealanders and a fifth of the respondents in a new survey either plan to or have already, put money into digital assets. The poll also found that young Kiwis are more likely to use micro-investing platforms than older generations.　　Over 20% of New Zealanders Plan to or Have Invested in Cryptocurrency　　Investing in cryptocurrencies and shares has been on the rise in New Zealand, with young people getting into digital investments faster than other age groups. According to a survey conducted for the Financial Services Council (FSC), 40% of Kiwis are currently using or intend to use micro-investing platforms, the New Zealand Herald reported.　　The poll found that 21%, or a fifth of 2,000 respondents, have either invested in cryptocurrencies or plan to buy digital coins in the future. Thats a 7% increase since March 2020, the report noted. Actual crypto investors have increased markedly, from 3% to 9.5%, between March last year and April 2021. FSC Chief Executive Richard Klipin commented:　　“The research shows that since early 2020 New Zealand has followed the global trend towards investing in shares, as well as more speculative assets such as cryptocurrencies.”　　Klipin highlighted the “incredible rise in digital

2021-06-16Deep Dive

China Mulakan Sistem Pembayaran Gaji Dalam Yuan Digital

Pemberian gaji itu dapat dilaksanakan menggunakan teknologi blockchain, Xiong‘an Blockchain Payment Platformyang diusahakan hasil kerjasama antara Bank of China cawangan Hebei Xiong’an dengan China Xiongan Group Digital City Technology.　　Xiongan merupakan salah satu bandar pertama selain daerah Shenzhen dan Suzhou yang membuat ujikaji terhadap yuan digital ketika negara itu mengumumkan fasa pengujian matawang digital bank pusat (CBDC) pada tahun lalu.　　Bagaimanapun, Xiongan terlebih dahulu menjadi bandar pertama yang menguji pemberian gaji dalam yuan digital kepada penduduknya.　　Malah, wallet hardware juga telah dilancarkan pada Februari lalu bagi tujuan penyimpanan yuan digital. Ia dibangunkan oleh Agricultural Bank of China (ABC) dan dilancarkan di Xiongan New Area.　　Ketika Amerika Syarikat (AS) bimbang kewujudan yuan digital menjadi ancaman kepada dolar, China sejak April lagi sudah memberi penjelasan bahawa mereka tidak mahu aset digital ini menjadi ‘senjata’ menentang matawang itu. Sebaliknya mereka memberi jaminan penggunaan yuan digital hanya untuk kegunaan domestik sahaja.　　Pada masa yang sama, yuan digital juga tidak akan menggantikan perkhidmatan pembayaran digital daripada firma penyedia terbesar China seperti Alipay dan WeChat Pay.

2021-06-16Deep Dive

Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey

Large hedge funds expect to increase their cryptocurrency holdings to 7% in five years, a recent survey conducted by the Financial Times concluded. This comes after the increased involvement from prominent names like Stan Druckenmiller, Paul Tudor Jones III, SkyBridge Capital, and more.　　Hedge Funds to Increase Crypto Holdings　　It‘s safe to say that 2020 was Bitcoin’s breakout year in terms of institutional adoption. The COVID-19 pandemic and the financial catastrophe it caused ultimately highlighted BTCs merits over most traditional investment tools, which attracted corporations and institutions that steered clear of it up until that moment.　　According to a survey by the FT, this will only increase in the next five years. Following a survey among officers from over 100 global hedge funds, the paper concluded that “executives expect to hold an average of 7.2 percent of their assets in cryptocurrencies in five years time.”　　Although the current holding numbers are unknown, the publication concluded that such an allocation would “represent a large increase” in funds put in various digital assets.　　Per David Miller, executive director at Quilter Cheviot Investment Management, hedge funds are “well aware not only of the risks but also the long-term potential” of bitcoin and other cryptocurrencies.　　However, analysts from the consulting

2021-06-16Deep Dive

Russian central bank ‘short-sighted’ regarding crypto, lawmaker says

A long-time member of the Russian State Duma has criticized the central banks approach to digital assets.　　A Russian State Duma member has blasted the central banks tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country.　　Fedot Tumusov, a member of the “A Just Russia” party representing the Siberian region of Yakutsk, has criticized the Bank of Russias approach to regulating the crypto industry following a Tuesday plenary meeting of the State Duma.　　In a Tuesday Telegram post, Tumusov outlined the growing need to create an ecosystem that allows Russian residents to purchase cryptocurrencies like Bitcoin (BTC) amid increasing demand. The official argued that despite Russia enforcing crypto legislation earlier this year, the Bank of Russia has been negligent, refusing to authorize local banks to offer crypto investment services.　　Tumusov said that central bank governor Elvira Nabiullina has been speaking openly about the banks reluctance to deal with decentralized cryptocurrencies, focusing on a state-controlled digital ruble instead. “Reluctance or not, this will not change the situation. It is necessary not to struggle with the reality but rather to adjust to it, to respond to the challenges of the time,” Tumusov argued.　　The lawmaker noted that many countries around

2021-06-16Deep Dive

Bitcoin And Cryptos Are “Dangerous” And “Could Be Worth Nothing”, Bank Of England Boss Bailey Warns

Andrew Bailey, the Bank of England governor has said that the bank is focusing on stable coins which are backed by real-world assets and not on other crypto-assets which are “dangerous” and “could be worth nothing.”　　He said this during TheCityUKs virtual annual conference. According to him, crypto-assets like Bitcoin have extrinsic value but they are highly unstable.　　However, according to him, stable coins “have the potential to be systemic in terms of their importance for the financial system and its stability.” He added that stable coins can reduce lending rates and cause people to look elsewhere outside the banking system.　　A Central Bank digital currency rather than a crypto asset　　The bank supports a central bank digital currency that it says could enable anyone to make electronic payments. It says that the central banks digital currency could “make electronic money, issued by the Bank of England, available to all households and businesses.”　　The bank also notes on its website that such a currency should be introduced alongside cash and bank deposits instead of replacing them.　　But the bank has not launched any central bank digital currency. It is in the process of consultation on the same issue. It is likely therefore that they will issue

2021-06-16Deep Dive

NYDIG, FS Investments file for new Morgan Stanley-focused bitcoin fund

In March, Morgan Stanley became the first big American bank to offer its clients exposure to bitcoin through a trio of funds, one of which was jointly created by NYDIG and FS Investments.　　A new filing from the Securities and Exchange Commission (SEC) indicates that a fourth fund will be made available.　　Sakes connected to the FS NYDIG Institutional Bitcoin Fund LP have yet to take place, per the June 15 document, described as a new notice. The filing notes that Morgan Stanley “will receive certain placement and servicing fees with respects to clients it refers to the issuer, as disclosed to the applicable clients.”　　As detailed back in March, Morgan Stanley initially went live with its offering with two funds from Galaxy Digital and one from NYDIG/FS Investments. NYDIG and FS Investments formally announced a partnership that same month.　　CoinDesk reported on April 22 that the initial NYDIG/FS Investments vehicle, the FS NYDIG Select Bitcoin Fund LP, had attracted nearly $30 million from investors.

2021-06-16Deep Dive

Bitcoin Left Out Of SEC’s 2021 Regulatory Agenda

The US SEC has tabled a plan on how it will regulate the market this 2021, but the conspicuous exception of Bitcoin and other cryptos from the regulatory agenda is turning heads.　　Many hoped that the crypto industry would somehow feature in the regulatory agenda, especially now that cryptocurrencies like Bitcoin have gone fully global and achieved acceptance in numerous economic sectors.　　Interesting Shift Of Focus　　Instead, SEC plans to focus on regulating short-selling events, something that may be attributed to last years craze that affected GameStop and AMC Theatres. This apparent lack of focus on the crypto industry is interesting in that the SEC Chairman himself has been actively advocating for Bitcoin and crypto regulation.　　Gary Gensler, who is SECs new Chairman, was recently quoted as saying that cryptos are a volatile asset class and that the public needs protection in the way of regulation of exchanges.　　While Gensler agreed that some cryptos that are deemed securities fall under its umbrella, others like Bitcoin don‘t. However, the fact that they’re trading on publicly accessible crypto exchanges means that the public needs protection. This protection is not currently in force.　　Little Action By Congress　　The SEC chairman has been at the forefront in pushing Congress to adopt

2021-06-16Deep Dive

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