Blockchain May be Used to Fight Prostitution

U.S. Congressman Juan Vargas penned the Fight Illicit Network and Detect (FIND) Trafficking Act 
13 June 2018   1089

Member of the Committee on Financial Services at the US House of Representatives, Juan Vargas, proposed the use of blockcain technology to combat the use of cryptocurrency when buying sexual services and drugs. This is reported by CoinDesk.

Juan Vargas hopes that this bill will make the scope of the cryptocurrency more transparent and improve the efficiency of the federal services.

On 11 June 2018, U.S. Congressman Juan Vargas penned the Fight Illicit Network and Detect (FIND) Trafficking Act in order to "improve the efforts of Federal agencies to impede the use of virtual currencies and online marketplaces in facilitating sex and drug trafficking."

If the US Congress takes the initiative to vote, the Office of General Accounting will conduct a study on how virtual currencies are used to support trafficking in persons, drug trafficking and other purposes.

In March, the Playboy TV network began accepting cryptocurrencies as payment for adult content. However, the work of such platforms became endangered after the US Congress passed the FOSTA-SESTA law in April, banning sex trade on the Internet.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   53

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.