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Cryptocurrency regulation, Holytransaction

Cryptocurrency regulation

Cryptocurrency regulation, Holytransaction

The cryptocurrency wave has destroyed the traditional schemes which used to regulate money and financial assets. Furthermore this new trending market has created great opportunities for participants, but it also carries significant risk.

Countries and government are trying to understand how they work and how they could be regulated in order to make this market safer. Generally we say “cryptocurrency”, but this market offers different kind of crypto which have been divided in coins, token security and token utility.

Government agencies made this division, but in some cases coins/tokens show several qualities which make labeling them difficult. In other cases, like in muslim countries, also religion can help make regulation and acceptance difficult.

This article was originally published on UpCounsel.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Jack

Why governments should embrace the Blockchain

governments_should_embrace_the_blockchain

William Mougayar, author of “The Business Blockchain” and member of the Ethereum Foundation, explains why governments should embrace the blockchain. 
A few days ago we published an article where ICAP suggested on why banks must adopt digital currencies; today we want to talk about this new important opinion by Mougayar, who is convinced that the distributed ledger could improve government services.
Government services, in fact, are one of the most important and revolutionary use cases for this technology , so it is not a surprise that governments are working to develop their own blockchain-based applications. 
During this year several cities and governmental institutions made their own plans for the ledger.
Singapore, Delaware, Estonia, Georgia, Ghana, Sweden, Switzerland, UK are just a few of many countries that developed a project related to the blockchain. 
So, if your government is not working on the blockchain, they should, explained Mougayar. 
As the blockchain is an early stage technology, it is easier to implement solutions at smaller scales.

How governments should embrace the Blockchain

What can your government do with the blockchain? There are four main areas:
  1. Verification: licenses, proofs of records, transactions, processes or events. 
  2. Movement of assets. E.g. Transferring money from one person/entity to another.
  3. Ownerships: the blockchain is a perfect ledger to custody any asset.
  4. Blockchain can be used to give e-identities to its citizens, enabling a safer kind of voting. 
So, government leaders should:
  1. Study the blockchain and explore its potential.
  2. Let people develop a blockchain strategy. 
  3. Start experimenting with blockchain technology
  4. Develop new ideas to improve the quality of life of the citizens

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

US government to use Blockchain for Health Care issues

us government to use blockchain

The US Department of Health and Human Services (HHS) could convince the US government to use the blockchain in health care issues, so it aims at starting a study related to distributed ledger applications and health problems. 

According to a press release published by the Federal Register, HHS is looking for white papers about blockchain applications for healthcare purposes. 
So tou can send your ideas for this contest within July 29th, and winners will be announced in September.

Official notice: US Government to use Blockchain?

The notice states that those papers shouldn’t contain more than 10 pages and no more than three researchers should be submitted by any researcher or group.

“The paper should discuss the cryptography and underlying fundamentals of blockchain technology, examine how the use of blockchain can advance industry interoperability needs expressed in the Nationwide Interoperability Roadmap, patient centered outcomes research (PCOR), precision medicine, and other health care delivery needs, as well as provide recommendations for blockchain implementation.”
Winners will present their projects at a “Blockchain and Healthcare Workshop”. 
The event will be hosted by the Office of the National Coordinator for Health Information Technology and the National Institute of Standards and Technology (NIST).

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

US Government awards Blockchain projects

<img src="/images/usgovernmentawardsblockchain.jpg" alt="US Government awards Blockchain" height="264" width="350" />

Blockchain Award

The US government awards Blockchain projects: $600,000 in grants to six companies that work on blockchain applications.
The Department of Homeland Security (DHS) decided to destinate $3.1m to 29 businesses based in the American area and focused on data analytics, connected devices and blockchain.
Each awarded business will receive $100,000, according to the official press release.
This money came from the so-called program Small Business Innovation Research (SBIR) that started back in December 2015.


Governments Interested in Bitcoin

In April the European Parliament defined the blockchain as the“perfect technology” and aimed at realizing new rules related to the distributed ledger.
Also, several European countries started to accept Bitcoin for public services. Among these there is Switzerland. In fact, Zug was probably chosen because it is the Swiss financial centre that has a good reputation for its low taxes. 
Another important news came in May, when Japan decided to officially recognize Bitcoin.


Multicurrency Wallet 

If you have to store different digital currencies (Bitcoin, Ethereum, Dogecoin, Litecoin etc.) you have to have different wallets, which are difficult to manage. 
HolyTransaction is here to solve your problem, with the possibility to create a single account. 
So, do you want to store Bitcoin and other cryptocurrencies? 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Switzerland to accept Bitcoin for Public Services

Zug to accept Bitcoin

Zug, city ubicated in Switzerland, announced it will accept bitcoin payments for public services. 
This is a pilot project to test the efficiency of the digital currency. This test will start on July 1st and will continue for the whole year.
Zug was probably chosen because it is the Swiss financial centre that has a good reputation for its low taxes. 
This project appeared on the official website of Zug. Here the initiative is described as a way to test the bitcoin use for public obligations that cost 200 francs, or almost 0.44 BTC at the moment. 
An official press release of this Switzerland city comments:
“The pilot project of the city government is initially limited to 200 francs on chargeable services the residents of the city train. The end of 2016 we will conduct an analysis of lessons learned. Then…the city council will decide if bitcoins and most other digital currencies are to be accepted as payment for other urban services in the future.”

Will this idea succeed?

This idea is not so new, as several cities and states have tested this method of payment during the last years, but it didn’t succeed. 
Also, it is important to remember that Switzerland has lots of startups in its country: for example Xapo, ShapeShift and Monetas are located in Zug. 

The city mayor is very upbeat 

The city mayor Dolfi Müller commented in a post:
“We want to express our openness to new technologies and expressed early on your own experiences. And we will invite to exchange ideas with the City Council FinTech companies in the region train. Our goal is to meet their needs for optimal development in our living and economic environment in more detail.”

Multicurrencies Wallet – Open yours for free 

To buy and spend your digital currencies, you may need a new wallet where you can store your bitcoin, for example.
On HolyTransaction wallet you can hold several cryptocurrencies including Ethereum, Litecoin, Blackcoin, etc.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio