Blockchain: South Korea Ban, Daimler AG New Crypto and Central Blockchain
Blockchain technology is a catalyst to propel the future of other industries and surprisingly the technology itself has become a multi-billion dollar industry. Here is a list of top blockchain news of the day from Blockchain Magazine which you can’t miss out.
Harvard Economist sees Bitcoin worth $100 by 2028
According to a noted economist from Harvard University, Kenneth Rogoff, Bitcoin’s value comes from illegal activities like tax evasion and money laundering. Speaking during network’s squawk box segment, Rogoff said that the uses of bitcoin are limited as a transaction vehicle, and if it is not used for illicit activities, Bitcoin will be worth $100 instead of $100,000 in 2028. Kenneth Rogoff Is a member of diminishing fraternity which is still maintained the anti-coin stance. VP of Berkshire Hathaway, Charlie Munger, is one such anti-Bitcoin naysayer, who termed Bitcoin as ‘Totally Asinine” and said that the thought that people disgusting in it ‘disgusted’ him. Munger was talking to an audience during AGM speech.
South Korean government officials are barred from holding or trading Cryptos
Ministry of personnel management of South Korea has enforced a blanket ban on the South Korean Government officials for holding and trading cryptocurrency. According to the document published by the South Korean ministry of personnel management, any civil servant found in violation of the prohibition will be subjected to rigorous disciplinary laws. The action would be worse if the activity was found to be done during the working hours. The stance of the South-Korean government towards the cryptocurrencies has been largely confusing as the country confirmed last year that it had no intentions to ban the cryptocurrency trading. Many South-Korean commissions had previously warned their employees against trading, and now an official document has been published.
Chinese SEC official wants a centralized blockchain
Blockchain has been the point of focus to many countries. In the similar chain of events, Zhang Ye, acting political advisor of Chinese People’s political consultative conference, has remarked that blockchain and artificial intelligence should be encouraged by Chinese public sectors. He also cautioned that blockchain technology could only realize its full potential when a more organized and centralized platform is provided. Rubbishing the claims of blockchain advocates, Zhang said that it is not possible to have an absolutely decentralized blockchain when the blockchain is itself built in a more centralized way. According to Zhang Ye, the mission should be achieving decentralization via centralized infrastructure.
Daimler AG launches its own cryptocurrency
Car manufacturing giant, Daimler AG, presented its own cryptocurrency at the mobile world congress 2018. According to the reports by Cointelegraph, Daimler AG showcased its own blockchain based currency called the ‘MobiCoin’. The project has been created to ensure that drivers who cater to environmental-friendly driving habits such as safe driving, are rewarded. The project was kick started in February 2018 and will be in testing phase for next three months, with a driver sample of 500. The data from the vehicles will be send to the company and then stored in mobile app as MobiCoins. Participants who collect most of the MobiCoins will receive complementary tickets to Berlin Fashion week, Mercedes world cup, DTM races etc.