North America: Crypto and Blockchain News Roundup 24th to 30th June, 2019
Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.
North America
The United States
Californians hold the most bitcoin in the United States: Californians are the top crypto owners in the country according to latest data published by US exchange Coinbase. Considering that California is the most populous US state, the survey results are hardly surprising.
Following California are 9 other states in the top 10 including New Jersey, Washington, New York, Colorado, Utah, Florida, Alaska, Nevada and Massachusetts.
Interestingly enough, smaller but more crypto progressive states like Delaware, Nevada and Wyoming have much higher crypto holdings per capita in the general population than many of these bigger states because their governments are promoting the new industry in a much more effective way.
Ex Trump Fed Nominee wants to be part of “Crypto Central Bank”: Controversial economist Stephen Moore who was the Trump nominee for the Federal Reserve Bank is now eyeing the formation of what he calls a “crypto central bank” or Decentral which is calling itself the world’s first decentralized central bank.
The Trump appointee had received flak the moment he was nominated by Trump by the opposing democrats who deemed him unfit for qualification. Moore eventually withdrew his candidature and has since experimented with one thing or another.
The decentralized central bank is expected to bring forward a new concept for stablecoins and how they can be used to change the banking outlook in the world.
Self-described Libertarian and gold investor attacks Bitcoin over volatility: American investor and self-described Libertarian Peter Schiff has attacked bitcoin on Twitter over its recent dip after reaching 30 month high of 13,900 USD and has called it a scam once again but was also squared up by bitcoin enthusiasts over his claims.
According to Peter Schiff:
“No, there is real demand for gold as a commodity in industry and as a reserve asset among central banks. So there will always be natural buyers for gold at any price no matter what. The only demand for Bitcoin comes from speculators”
But soon enough, Bitcoiners struck back at him and schooled him over the basic principles of the top cryptocurrency.
FDA Calls for blockchain-based system to authenticate prescription drugs: The Food and Drug Administration (FDA) of USA is working with the American retail giant Walmart Inc to develop a Proof-of-Concept (PoC) project for identifying and tracking prescription drugs in the country.
In addition to these two partners, major drug companies including Merck and KPMG as well as blockchain promoting arm of IBM have also joined hands in this partnership to ensure supply chains remain unaffected by counterfeit medication.
Pharma giant Merck responded and said:
“A permissioned blockchain network has the potential to create greater transparency, reduce the time needed to track and trace inventory, help determine the integrity of products (such as whether they are kept at the correct temperature), prevent and remove counterfeit drugs, and more.”
Canada
Quadriga founder stole funds before untimely death: The case of the Quadriga cryptocurrency exchange has become even more damning as it was found out that the deceased owner had stolen funds from the exchange to put into his own personal wallet.
According to the latest audit of the now bankrupt cryptocurrency exchange, it was found out that the Gerald Cotton, the founder transferred huge amount of crypto from the customers’ accounts to other exchange and used them to buy luxury goods and even his own trading losses.
According to the audit report:
“In addition, substantial amounts of cryptocurrency were transferred to wallet holders whose identity the monitor has been unable to confirm.”
The prosecutors are still unsure about how to proceed this case as much of the money was reportedly lost when Cotton’s laptop key was nowhere to be found. Cotton died in India from complications of Crohn’s disease. The fate of the exchange and the customers still hangs in the balance even months after the initial case was reported.
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Talha Dar, Khareem Sudlow
