VeChain Confirms Partnership with BMW

During the rebranding event, VeChain CEO confirmed the rumors about VeChain and BMW partnership
27 February 2018   413

Blockchain-based supply chain enhancement platform VeChain official announced the partnership with the German car manufacturing giant BMW. It was confirmed by VeChain CEO Sunny Lu during the event.

Before the announcement, rumors of the partnership between VeChain and BMW had been circulating in the cryptocurrency market for a while now.

After all, BMW is not the first car manufacturing company to partner with a blockchain firm. Not a long time ago, Volkswagen partnered with the Berlin-based blockchain firm IOTA, to utilize the latter’s massive data pool.

More than that, VeChain rebranded itself to VeChain Thor, a marketing stunt which has proven successful for many projects.

Besides the partnership with BMW, VeChain (currently VeChain Thor) has also announced a collaboration with Oxford University. The university will help with the technological development of the VeChain Thor platform as part of VeResearch.

Furthermore, yesterday, South Korean crypto exchange Coinnest listed VeChain Thor tokens.

Cryptocurrency to be Regulated in France

French Ministry of the Economy and Finances creates working group to regulate cryptocurrency
22 March 2018   119

Bruno Le Maire, the French Minister of the Economy, announced the government initiative to constitute the instructions and regulations towards cryptocurrency. The group is also aimed to decrease the influence of Bitcoin and altcoins to the formal system of economy with the help of required concept. These measures would help French government to prevent tax avoidance and some other criminal activities (such as money laundering).

In an op-ed that was published in French media this week the Minister of the Economy Bruno Le Maire made a promise not to miss the blockchain revolution. He refined the reasons of the French authorities`decision to regulate the technology. According to his point of view, it is impossible for any consumer or entrepreneur to carry out a transaction, invest, develop in business being in a regulatory vacuum. The Minister also put this position on the top among the rest questions to be discussed at G20 Summit in Buenos Aires. Bruno Le Maire is sure that the role of France is to be a driving force in “building the world of tomorrow”.

The Minister is going to present his case at the G20 Summit in 2018 in Argentina. He hopes that the framework can help in decreasing illegal activity in cryptocurrencies. Le Maire also explained that the sphere of digital funds is extremely attractive for criminals.

The leader of the working group is Deputy Governor of the Central Bank of France Jean-Pierre Landau. The French Central Bank supports the Government and hopes there would be no negative impact and consequences for the traditional economy system.

The key object of cryptocurrency regulation is to limit various negative factors in the financial sphere caused by digital money, such as the price volatility. Le Maire claims that at the same time the regulation of the cryptocurrency can support the development of the technology and can even lead to the economic growth. As blockchain can destroy not only traditional daily practices in banking and financial markets, but also patents and certified acts, the French Minister of Economy urges that the working group should foresee all these changes and become “actors of this revolution”, instead of simple viewers.