Daily Berminal Brief (8/23/18): Thailand To Launch Its Own Cryptocurrency, And China Continues Its…

The State Of The Market: After Bitcoin’s sudden surge to $6,800 during BitMEX’s downtime, it is back to its previous levels now. Bitcoin is currently priced at $6,454, losing 3.34% in the last 24 hours. Bitcoin’s price has managed to remain stable, even after SEC’s decision to not allow ProShares Bitcoin ETF. However, more than 90 Cryptocurrencies in the top 100 list are flashing red today. Ethereum (ETH) is currently priced at $273, losing 4.46%.

1) After Thailand’s crypto-friendly regulations, their next move is to create a digital currency. But, the digital token is not for the general public to use. It will be used by banks to transact with each other. Thailand’s Central Bank has partnered with 8 participating banks to test out its central bank digital currency (CBDC) initiative called ‘Project Inthanon.’ The bank will use R3’s distributed ledger technology (DLT) platform Corda to build a proof-of-concept prototype (read more).

2) Following a complete ban of Cryptocurrencies early this year, the Chinese government continues its onslaught. Early this week, Chinese cryptocurrency media outlets were removed from WeChat. The government continued its crackdown by banning all offices and hotels from hosting crypto events in the country. Now, China is also seeking access to block 124 foreign crypto exchanges from the country through the great firewall (read more).

3) The team behind Bitcoin Core (BTCC) announced a successful hard fork of Bitcoin Cash for one-minute blocks. As a result, BTCC now has more on-chain space as compared to BCH. Additionally, the latest version fixes several other issues such as the previously reported “expensive attack against SPV proofs” as well as another issue with the ‘abandontransaction’ RPC where it now abandons “all descendant transactions, not just children” (read more).

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