Experiments Continue: Integration of Cryptotechnology into the City, the Largest Trade Network, and the World Bank
Today we have not a standard article, but an overview digest with a brief overview of the most interesting news over the past week. Join our blog and enjoy your reading!
Europe Prepares To Launch First Bitcoin Futures
Europe's first Bitcoin (BTC) futures will launch in September on the continent's largest derivatives market, Eurex. ETFs in the US has yet to be approved, and Europe is in parallel initiating a groundbreaking Bitcoin futures product.
The event comes amid increased investor demand for institutional products tied to Bitcoin and altcoins. They have a friendlier development environment with Europe than the United States. Thus, starting in September, Eurex will place the first European crypto-ETP-based futures contract.
"Given the growing institutional demand for secure access to bitcoin, we are delighted to begin listing these bitcoin futures in our regulated trading and clearing infrastructure, Eurex," commented Eurex Executive Board Member Randolph Roth.
MiamiCoin is a success on exchanges
Miami is Florida's second-largest city. The city recently launched its cryptocurrency. MiamiCoin is a cryptocurrency based on the Stacks protocol that provides the ability to use smart contracts in bitcoins.
MiamiCoin offers a steady stream of cryptocurrency income for Miami City, as well as earning STX for $ MIA holders, according to experts. MiamiCoin is available for mining or purchase to anyone who wants to support Magic City and earn cryptocurrency using the Stacks protocol. MiamiCoin also benefits investors with the ability to accumulate and earn BTC through the Stacks protocol.
The project is considered very promising. Its creators guarantee the City of Miami the ability to shape a cryptocurrency treasury that will make a lot of benefits. These are for new opportunities to develop public spaces, improve infrastructure, host new city events, invest in startups, and more.
MiamiCoin does a good job at launch. However, this cryptocurrency is being artificially swayed a little. The proof is the posts from the official Twitter account:
30% of MiamiCoin's income is donated to the city's development. This provides a steady flow of income to be used for construction projects, civil activities, and the hiring of new companies. Cities can reward regional companies and people for using such a currency instead of cash.
Why is Walmart creating a cryptocurrency department?
Walmart has created a new job that looks intriguing. The announcement signals the search for a head of new technology and customer trends, as well as the investment required to develop these trends. This position involves hiring employees to determine investments and partnerships in the cryptocurrency field.
What does this mean?
Large retail players are involved in accepting cryptocurrency payments more and more. Walmart is simply trying to keep up with trends.
By the way, Rival Amazon (AMZN) is also looking for a leader in digital currency and blockchain products. At the same time, Amazon strongly rejects the assumptions that cryptocurrency will become a full-fledged payment instrument for them.
This is not the first message of Walmart's interest in cryptocurrency. In 2019, Walmart created a patent for a price-stable digital coin. Walmart is actively using blockchain in internal accounting to track items in its supply chain.
Swiss B2B bank launches new tokenization tool with Tezos
Digital asset company Crypto Finance AG, which is backed by Deutsche Boerse, is launching a new blockchain-based tokenization tool Tezos in partnership with the Swiss inter-corporate transaction bank InCore.
Companies have developed in a partnership a new standard for Tezos tokens. It is required to tokenize assets based on Tezos FA2. Tezos FA2 is a multi-asset interface for Tezos that allows developers to develop new types of tokens, including intangible tokens. This technology will allow financial institutions to offer bets on their clients' assets, as well as receive rewards from placing bets or participating in the verification of transactions by blocking XTZ tokens.
"The launch of these Tezos use cases for the financial sector is making innovative, on-chain financial products a reality today," said Stein Vander Straten, CEO of Storage Infrastructure at Crypto Finance Group.
Thus, crypto technologies are gradually being introduced into the space of our daily activities. The largest financial institutions unite and introduce new technologies to retain and attract new customers. Global merchants are already taking active steps to introduce cryptocurrency payments into e-commerce systems.
WARNING: Virtual currencies are highly volatile and novel instruments traded on unregulated exchanges with minimal or no regulatory supervision. Investing in virtual currencies is highly risky, and you can rapidly lose your entire invested capital. Before buying virtual currencies, you should consider whether you understand how the market in virtual currencies works and whether you can afford to take the high risk of losing your money.