France Creates “Digital Currencies Mission”

The new mission will be responsible for proposing guidelines on the evolution of regulations and to better control development
16 January 2018   1109

The Minister of the Economy Bruno Le Maire announced on Monday that the country is creating a “digital currencies mission” and a working group led by Jean-Pierre Landau, the former BOF deputy governor, that will study digital currencies while also proposing regulatory standards.

We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin. I asked the Argentine G20 members to take up this issue and I have now entrusted Jean-Pierre Landau, the former deputy governor of the Banque de France, to complete a mission concerning cryptocurrencies.

 

Bruno Le Maire

The Minister of the Economy of France

According to the announcement, Jean-Pierre Landau’s mission will be responsible for proposing guidelines on the evolution of regulations and to better control development and prevent their use for the purpose of tax evasion, money laundering or for financing criminal activities and terrorism.

The former BOF deputy governor Landau is an opponent of cryptocurrencies. He has displayed his attitude to bitcoin publicly writing an opinion piece for the Financial Times in 2014.

The currency is at present attractive for two reasons — One is anonymity, which makes it suitable for tax evasion and money laundering — This will not last; authorities are already wising up.

 

Jean-Pierre Landau

The former deputy governor of the Banque de France

In early December we have reported that Robert Ophele, the chairman of French market regulator, called Bitcoin a “dangerous illusion” and a tool for criminals.

VeriBlock to Report on Mainnet Launch

VeriBlock believes their technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”
21 March 2019   79

Using the bitcoin blockchain to ensure the safety of altcoins, the VeriBlock project announced the launch of the main network. This is reported in a press release.

According to the developers, the VeriBlock technology allows networks of other cryptocurrencies to use the bitcoin blockchain to counter the “51% attacks”. The project is confident that this approach not only ensures the security of less popular networks, but also allows their developers to focus on innovation and functionality.

According to analysts of The Block, 25–45% of bitcoin transactions fall on VeriBlock. The VeriBlock network uses a consensus algorithm called Proof-of-Proof (PoP). The project seeks to ensure the safety of other blockchains by loading a snapshot of the altcoin registry into the BTC blockchain, using the OP_RETURN function and other methods to embed network state data.

The project’s website states that PoP allows altcoin networks to use the most protected Bitcoin blockchain with its Proof-of-Work algorithm.