News updates January 31, 2022
1. China Announces 15 Pilot Zones for Testing Blockchain Tech
China announced 15 pilot zones for testing the application of blockchain technology for several service sectors.
The Cyberspace Administration's official Wechat social media account said that the pilot zones include areas in Beijing and Shanghai, as well as Guangzhou and Chengdu in the southern Guangdong and Sichuan provinces respectively.
The announcement which came via a joint government statement also added that the entities will conduct the projects in fields such as manufacturing, energy, government and tax services, law, education, health, trade and finance, and cross border finance.
2. Apple on Metaverse: We See a Lot of Potential and Are Investing — CEO Tim Cook Says ‘It’s Very Interesting to Us’
Apple CEO Tim Cook says the metaverse has a lot of potential and his company is investing accordingly.
“It’s very interesting to us,” he noted. Global investments banks Morgan Stanley and Goldman Sachs have predicted that the metaverse could be an $8 trillion opportunity.
Apple Sees a Lot of Potential in the Metaverse, Says CEO Tim Cook.
3. $BTC: 300 Community Banks in U.S. Preparing to Start Offering Bitcoin Trading in 2022
An estimated 300 community banks in the U.S. are reportedly set to begin offering Bitcoin trading via mobile apps in response to high demand from clients.
According to a report by American Banker, around 300 community banks in the United States are looking to offer Bitcoin trading to clients within the first or second quarter of 2022 with the help of Bitcoin company NYDIG. The report claims the American Bankers Association and the Independent Community Bankers of America have made investments in NYDIG as part of the effort.
4. Thai Cafe Welcomes Traders to Offer Crypto Advice
A cafe in the northeastern corner of Thailand has become a meeting point for cryptocurrency traders, according to Reuters reported on Jan. 30.
A large display screen capable of showing the latest cryptocurrency market developments has also been added to the cafe called HIP Coffee & Restaurant.
One of the clients, 23-year-old trader Apakon Putnok, said that:
“Having so many screens helps a lot … We immediately know and get to analyze crashing factors and whether we should buy.”
The café, which underwent a crypto makeover in 2020, allows traders from all over the world to offer investment advice alongside coffee and cake, offering alternative investment opportunities to those in the surrounding area.
People can receive free investment advice here and launch their own cryptos under the instructions.
5. Bitcoin Makes Significant Foray Amongst World’s Political Elite As Lawmakers Increasingly Take Salaries In BTC
A member of parliament in Belgium, Christophe De Beukelaer, has announced that he would be taking his full salary in Bitcoin. The decision would make him the first politician to do so in Europe.
Christophe De Beukelaer is not the first politician in the world to make such a decision. Miami’s Mayor Francis Suarez, Tampa Bay’s Jane Castor, and New York’s Mayor Eric Adams have all made similar decisions recently while creating policies that would encourage blockchain-related activity growth in the region. Sports personalities like UFC heavyweight champion, Francis Ngannou have all begun accepting pay in BTC.
6. Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees
Ethereum’s average network fees have dropped to the lowest value in 30 days at 0.0096 ether or $24.64 per transaction. Median-sized ethereum fees are lower today as well, as fees are between $8.37 to $10.82 per transaction as ether fees haven’t been this low since January 1.
Onchain Ethereum Fees Drop, Current Bitcoin Fees 91% Cheaper Than Ethereum Fees
It’s cheaper today to send ethereum (ETH), as network fees are 0.0096 ETH or $24.64 on average to send the second leading crypto asset. On January 30, 2022, ethereum has a 24-hour price range of around $2,575 to $2,647 per unit.
7. Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests
A new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes
Bill to Bring ‘Tight Regulation’ to Crypto Industry, Strict Requirements for Investors
Russian lawmakers are working on a law to fill regulatory gaps in the crypto space. The legislation may introduce special exams for non-qualified investors who want to buy cryptocurrencies with a total annual value exceeding 600,000 rubles ($7,700). One of its sponsors, the Deputy Chair of the parliamentary Security and Anti-Corruption Committee Andrey Lugovoy, told the daily Izvestia that the new law is about “tight regulation” of the sector.
8. Pop Star Justin Bieber Buys Bored Ape NFT for $1.29 Million, Pays More Than 300% Above Floor
The Canadian singer Justin Bieber has purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for 500 ethereum or $1.29 million at the time of settlement. Bieber has a significant collection of NFTs and his wallet holds 340.43 ether worth $879K
Justin Bieber Spends $1.29 Million in Ethereum for BAYC #3001
Justin Bieber spent 500 ethereum worth $1.29 million at the time of settlement on a Bored Ape Yacht Club (BAYC) NFT, according to a sale stemming from the NFT marketplace Opensea.
Bieber is a well known pop star with his popular seven-track EP “My World.” The 2009 album made Bieber the youngest solo male recording artist to make it into the U.S. Billboard 200 in 47 years. 13 years later, Bieber seems to be dabbling in cryptocurrencies and non-fungible token assets.
