United Arab Emirates is hosting smart economy conference

Dubai is organizing ArabNet Digital Summit on April 30 - May 1 to discuss the perspectives of smart economy and the future of financial services
13 April 2018   440

ArabNet Digital Summit is coming to Dubai on April 30 - May 1 with the help of NextMoney. The event is organized by ArabNet at Madinat Jumeirah Conference Center. The summit will explore the trends and opportunities in financial technology, banking, and transactional businesses. In addition to that, topics like artificial intelligence, big data, blockchain and the potential they have in the bank and financial services sectors. Among the partners of the forum of money are ConsenSys and Bloomberg Businessweek.

Another forum that will be part of the summit is smart economy forum. It will feature topics like applications of blockchain technology, driving progress through big data, and the evolving role of digital enterprises. A vision of the cities of the future is on the agenda as well. Partners of the forum include Xische&Co and Smart Cities New York.

To see more details you can visit the official website of the event.

US Congressman to Call for Crypto Ban

As reported, Brad Sherman has called for a blanket ban on cryptocurrency buying
19 July 2018   77

American authorities should ban cryptocurrencies and mining. Such a statement on was made by Congressman Brad Sherman during the hearings of the Committee on Financial Services at the US House of Representatives, CoinDesk reports.

According to Sherman, in the future, cryptocurrencies may become a form of money, but at the moment they are used either by rogue states to bypass American sanctions or by individuals to evade taxes.

We should prohibit U.S. persons from buying or mining cryptocurrencies.
 

Brad Sherman

Congressman, US

At the same time, Norbert Mitchel, director of the Data Analysis Center of the Heritage Foundation, noted that the possible use of crypto-currency for criminal purposes should not stain other possibilities of digital currencies.

Yes it is true that criminals have used bitcoin, but it's also true that criminals have used airplanes, computers and automobiles. We shouldn't criminalize any of those instruments simply because criminals used them. Those components I believe are the main barriers to widespread adoption in the U.S.
 

Norbert Mitchel

Director of the Data Analysis Center, Heritage Foundation

As Eswar Prasad, senior professor at Cornell University, said, the existence of cryptocurrencies had the potential to impact the financial services system, particularly the payments system, in positive ways.