Venezuela can issue own cryptocurrency

Venezuelan authorities together with Onixcoin are working on own cryptocurrency
10 October 2017   1777

In connection with the extremely difficult economic situation in the country, Venezuelan authorities are considering the possibility of creating their own crypto currency. This is reported by The Merkle.

As the newspaper notes, the central bank of the country seriously thought about the creation of a national crypto currency. This measure is forced, because, according to experts, it can help to overcome hyperinflation. Together with the central bank of Venezuela, Onixcoin is working on the concept of the national crypto currency.

Also, the government of the South American country is considering various opportunities for development of mining in Venezuela.

Because of the raging hyperinflation in Venezuela cryptocurrencies are in high demand. In particular, local businessmen agree to accept even digital collector cards with Pepe frog, created on the Counterparty block-platform.

On the other hand, the Venezuelan authorities are severely suppressing the production of crypto-currency, accusing the miners of Internet fraud and the theft of electricity.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   71

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.