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04/06/2018: Biggest Stories in the Cryptosphere

by BlockEx

1. China State TV Program Says Blockchain Is 10x More Valuable Than The Internet

China’s main state broadcaster China Central Television (CCTV) has affirmed that blockchain is 10 times more valuable than the internet in terms of economic value. It also added that blockchain represents the second phase of the internet. The statement was made on Sunday during the segment ‘Dialogue’. During the hour-long discussion, which was hosted by Chen Weihong on Finance Channel, the public was being educated on many aspects of blockchain. Public figures such as Don Tapscott and Chen Lei also attended the segment. Lastly, risks represented by fraudulent ICOs was also discussed.

2. Crypto Futures Receive Thumbs Up By Indonesian Regulator

Indonesia’s Futures Exchange Supervisory Board (Bappebti) has ruled in favour of crypto futures. The Trade Ministry’s commodities market regulator has classified cryptocurrencies as commodities, which means that they can be traded on the country’s futures exchange. According to Dharma Yoga, the Head of Bappebti Market Supervision and Development Bureau, the decision was reached after a 4-month study conducted by the board. Dharma went on to say that regulation guidelines will soon be issued to cover areas such as taxation, illicit activities and currency exchange companies. This is great news for the public considering that in March, the local Indonesia Digital Asset Exchange was set to overtake the Indonesia Stock Exchange in terms of registered participants.

3. Australian Town Accepts Bitcoin In An Attempt To Boost Tourism

The Australian town of Agnes Water has labeled itself the ‘Digital Currency Town’. In an attempt to boost its main source of income, tourism, the town has started to accept Bitcoin. All of the local businesses operating in the 2000 resident town now welcome cryptocurrency payments. It is even written on the town’s welcome billboard, along with examples of accepted cryptocurrencies (Bitcoin, Bitcoin Cash, NEM, Litecoin and Ethereum). Transactions are conducted through the TravelbyBit’s app. The news comes following Brisbane Airport (BNE)’s announcement it would start accepting cryptocurrencies as a form of payment, as we previously reported.

4. Japan’s First Bank-Backed Crypto Exchange Is Launched By SBI

Japan’s first crypto exchange backed by a bank, VCTRADE, is now live. Japanese giant SBI Holdings has made the announcement today. Currently only pre-registered users have access to the platform. However, in July it will be open to the public. At the top of VCTRADE’s agenda there is Ripple (XRP) trading. However, even if it is not clear yet when, support for Bitcoin and Bitcoin Cash will also be added at a later date. The choice of which cryptocurrency to focus on first should not come as a surprise, considering the joint venture we previously discussed between SBI Holdings and Ripple.

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