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EmergingCrypto.io Weekly Update May 15 – May 21
Asia
China reemerges as the 2nd largest Bitcoin producer
Bitcoin mining in China is BACK according to a new study published by the Cambridge Centre for Alternative Finance (CCAF). Despite the blanket ban on crypto and proof-of-work mining in China, the country has re-emerged as the second largest bitcoin producer after the USA, contributing to 21.1% of the global Bitcoin hashrate. Last September, China’s hash rate was effectively zero following the country’s ban. However, the re-emergence suggests “significant underground mining activity”. The CCAF report also placed Kazakhstan as third and Canada as fourth respectively in the Bitcoin hashrate share. (Read more on EmergingCrypto.io; Read more on Forkast)
Metaverse-based graduate degrees to be offered in Singapore
Singapore-based international graduate school, Aventis School of Management, will be the first Asia-based graduate school to offer a metaverse-based education experience. Beta-testing will be in the third quarter of 2022 and will offer ‘phygital’ (physical and digital) experiences through networking, conferences, and global management programs. Built in collaboration with Multiverse Labs and Smobler Studios, the Aventis Metaverse is aiming to make graduate and executive education accessible and affordable across Southeast Asia. (Read more on EmergingCrypto.io; Read more on Blockchain.News)
Africa
Bridgecard: Another Nigerian-based fintech that raises funds and plans to expand support to crypto wallets
Bridgecard, a Nigeria-based fintech startup, has raised $440K USD in pre-seed funding. Their app allows users to link user’s payment cards, bank accounts, and digital wallets to perform online transactions, payables, and withdrawals from any linked account. Bridgecard also provides a payment card to allow its users to withdraw from any bank, and a dollar card with a $10K USD monthly spending limit. The company plans to use part of the funds raised to expand support to crypto wallets. (Read more on EmergingCrypto.io; Read more on BitcoinKE)
The United Africa Blockchain Association is planning to launch a youth empowerment pilot in Zambia
The United Africa Blockchain Association (UABA) is planning a youth empowerment pilot project in three townships in Zambia. The association aims to to bolster digital literacy to alleviate poverty by creating incentive-based crypto opportunities to earn and spend cryptocurrencies for basic needs. The pilot will also test implementing blockchain in the public sector. Zambia’s Ministry of Technical and Science (MOTS) has expressed support for UABA to explore using blockchain as a solution to strengthen the youth and under-privileged communities in Zambia. A project launch date is still pending. (Read more on EmergingCrypto.io; Read more on BitcoinKE)
Eastern Europe
Russia’s Minister of Industry and Trade believes crypto legalization is just a matter of time
Russian government ministries have been discussing the future of crypto and mining. At the “New Horizons” education event last week, Denis Manturov, Russia’s Minister of Industry and Trade, expressed the opinion, “The question [of crypto legalization in not a matter of if, it] is when this will happen, how it will happen and how it will be regulated.” The official Russian perspective on crypto this year has varied. The Central Bank recommended a blanket ban earlier this year. Meanwhile, the Ministry of Finance believes that it should be regulated and taxed, but not banned. (Read on EmergingCrypto.io; Read on 1Prime)
Using NFTs to promote tourism in Slovenia
The seaside resort of Portorož on the Adriatic coast in Southwestern Slovenia issued NFTs to promote tourism and showcase itself as a digital, sustainable, and progressive destination for travelers. Three NFT drops have been created with 100 NFTs available in each for tourists to collect by completing three tasks: subscribe to a newsletter, participate in a prize game, and share a sticker on Instagram and tagging the municipality’s official account. Slovenia has already established itself as a crypto-friendly country with thousands of merchants across the country accepting cryptocurrencies for payment. (Read more on EmergingCrypto.io; Read more on Bitcoin.com)
Latin America
Binance, Coinbase, and Bitso meet with Brazil’s Central Bank
The head of Brazil’s central bank, Roberto Campos Neto, and other central bank directors held meetings with three international cryptocurrency exchanges: Binance, Coinbase, and Bitso. The three exchanges have publicly expressed interest in expanding their operations in the Latin American giant. All meetings were closed to the public. However, they come on the heels of recent announcements made by the exchanges. In March during Ethereum.Rio, head of Binance, CZ, announced the exchange’s intent to enter the Brazilian market and create up to five thousand jobs. Last week Coinbase opened registration for a hiring event taking place this week to recruit and fill Brazilian software engineering vacancies. Roughly a year ago Mexican-based Bitso established a presence in Brazil and is competing with Brazil’s Mercado Bitcoin for the title of Latin America’s largest cryptocurrency exchange. (Read more on EmergingCrypto.io; Read more on Blocknews)
44 central banks attend 3-day Bitcoin conference in El Salvador
Rounding off this week’s newsletter, the Alliance for Financial Inclusion and the Central Bank of El Salvador co-hosted the 25th Digital Financial Services Working Group (DFSWG) and 18th SME Finance Working Group (SMEFWG) in San Salvador last week. The three-day conference in the Central American nation hosted central banks from 44 countries to discuss fostering financial innovation and digital ecosystems, supporting micro, small, and medium-sized businesses, helping women and more people with lower incomes, and advocating for consumer protection regulations and supervisory frameworks. The conference also included a visit to El Zonte, aka, ‘Bitcoin Beach’ and provided education on how to use Bitcoin as a means of payment and transact on a Bitcoin Lightning wallet. (Read more on EmergingCrypto.io; Read more on AFI)
Thanks for reading! Have a great week ahead!
Written by Jon Lira. Connect with him on LinkedIn and Twitter.
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More emerging market blockchain and crypto news:
- Bank of Central African States Warns CAR Adopting Bitcoin Could Compete with Central African CFA Franc (Read more on EmergingCrypto.io; Read more on BitcoinKE)
- RBI warns of crypto ‘dollarization’ of Indian economy (Read more on EmergingCrypto.io; Read more on Cointelegraph)
- Vietnam Launches Blockchain Association to Conduct Research and Suggest Regulations (Read more on EmergingCrypto.io; Read more on Bitcoin.com)
- Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony (Read more on EmergingCrypto.io; Read more on Bitcoin.com)
- 48% of Brazilians do not invest in cryptocurrencies due to lack of knowledge, research shows (Read more on EmergingCrypto.io; Read more on Cointelegraph
