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A WordPress Plugin Now Allow Contents to be Time stamped on Ethereum

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A WordPress plugin has been developed to allow WordPress users time stamp contents on the Ethereum Blockchain. 

The plugin which was developed by an Amsterdam based firm WordProof helps WordPress website owners with Copyright issues by giving assurance to traders who the creator of a content and the integrity of same content considering blockchains cannot be tampered with. 

WordPress is one of the largest Content Management Systems on the internet powering up multitudes of websites of various types. 

The plugin was announced by WordProof on the 22nd of October, 2020 at the London BlockDown 2020 3D virtual blockchain conference. At the event, WordProof Head of Product, Jelle van der Schoot revealed the firms envision itself to be the most user-friendly timestamping tools for use across all Content Management Systems and e-commerce platforms. 

According to WordProof, it also supports other blockchains such as Telos and EOS. 

Speaking on the support of Ethereum on WordProof, Jelle van der Schoot said “Adding support for Ethereum marks an important step towards achieving this goal, so we’re excited to welcome the Ethereum community!”

It’s no doubt content theft is a serious challenge and alterations of published contents that could impact truth poses a serious concern to information flow. But with the ability to timestamp contents on WordPress just like Steemit and Hive blockchain blogging platforms, the defining features of blockchain become available to millions of WordPress users for use.

Other WordPress based crypto plugins 

While the development of WordProof and its integration with Ethereum, it’s not the only WordPress plugin. Over the years, there has been several blockchain and cryptocurrency plugins offering features to enrich the WordPress user experience. There has been plugins that display cryptocurrency prices, plugins that allows automatic publishing to Steemit, that allows the buying of cryptocurrency amongst several others.

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PayPal has reached 85% of Binance.US Volume in first month of Crypto services

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The payment giant company in the United States, PayPal is said to have reached a benchmark of 85 percent of the total trading volume of Binance.US; a cryptocurrency trading platform within its first month of operation. The payment company which was once skeptical about anything Bitcoin and cryptocurrencies launched and started offering cryptocurrency services to its users last month, October, 2020. This was made possible by a partnership between Paxos and PayPal to make cryptocurrencies available to users in the United states.

However, the daily trading volume has risen to 25 million dollars, a figure close to the total trading volume of Binance.US since PayPal launched. The figures on the trading platform of Paxos; itBit exchange rose from a daily figure of 5 million dollars to a whopping $25 million in November after a month of partnership with PayPal. Whether the partnership with PayPal is the reason for the spike in the daily trading volumes or other reasons are responsible for it, this remains unclarified.

PayPal has an estimated user base of over 346 million users over the world. Whether or not the partnership is responsible for the spike in the 24-hour trading volume on Paxos’s platform, offering crypto services on the platform is about to see a new level of adoption of cryptocurrencies worldwide.

Tola says he wants more big companies to go after PayPal’s footstep

Tola Joseph, the CEO and founder of twitterCryptomasterclass has expressed his views via his twitter handle (@connectwithtola) as regards the report about PayPal reaching 85 percent of the daily trading volume of Binance.US. He says he wants to see giant companies get involved in crypto and offer cryptocurrency services in a tweet.

He also included in another tweet what will happen in one year if PayPal’s one-month volume could be a competition to cryptocurrency exchanges. He included that he wanted the payment giant to offer cryptocurrency exchange services.

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Singapore’s Largest Bank, DBS to Launch Crypto Trading & Custody Service

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Singapore’s largest bank is reportedly making an inroad into the blockchain and cryptocurrency industry with the launching of a cryptocurrency trading and custody service. 

The Bank DBS is also reportedly launching in addition a platform for conducting security tokens offerings STO. The trading service will support five major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Ethereum Classic (ETC). 

The DBS cryptocurrency trading platform will also support four fiat currencies such as the US dollar, the Singaporean dollar, the Japanese Yen and Hong Kong dollar. 

It’s revealed that using it’s STO features, businesses will be able to issue tokens. The bank further revealed the trading platform will not hold cryptocurrency rather, it’ll be held by the Bank itself. The bank said the service will offer “distinct advantages such as the assurance of institutional-grade security.” 

While the move of the Bank to release its cryptocurrency offerings further validate the idea that blockchain technology will be adopted by businesses and government globally, and more Singaporeans will be able to conveniently purchase cryptocurrency, the Bank was quoted saying:

DBS’ plans for a digital exchange are still [a] work in [progress], and have not received regulatory approvals. Until such time as approvals are in place, no further announcements will be made.”

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Nigeria Has Drafted a Strategy Framework to Promote Blockchain Adoption In Nigeria

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The Nigerian government has drafted a strategy document designed to promote the adoption of blockchain technology in the country. The document which is named “National Adoption Blockchain Strategy (Proposed draft) seeks to explore and exploit the technology for the creation of viable solutions in the nation as well as how to protect the integrity of the various players.

The document described the situation of the country and explored why blockchain is imperative saying “many governments around the world has resolved to adopt a common approach of proactively getting involved in the use of the Blockchain technology to build relevant solutions that would help them understand and contribute to shaping the direction and future of this emerging industry with such potential impact on their operation.”

And because of the “current situation that some of the disruptive and unregulated markets riding on one form of blockchain/distribution ledger technology or the other such as virtual currencies and exchanges” it has highlighted certain reasons the Nigerian state has to get involved by experimenting with the blockchain technology in order to transform its challenges to opportunities. And these are:

  • The need to protect national sovereignty by defending the value of Naira in the global market through having adequate regulatory oversight and control of virtual currencies and exchanges.
  • The need for visibility into all financial activities for regulatory oversight.
  • Promotion of transparency and accountability in governance
  • Reduction of capital flight through emerging markets
  • Provision opportunities through new business models thereby creating jobs etc.

The creation of a Nigerian Blockchain Consortium

The government has identified six (6) key initiatives to exploit in the promotion of blockchain adoption in Nigeria and one of which is the creation of a blockchian consortium. One of which is the Nigerian Blockchain Consortium which will be constituted and prioritized with the primary objective to drive the various initiatives; is expected to come up with ways the technology could be used in the public sector processes and services. The consortium will have a task force which will be championed according to the draft document by the National Digital Economy Council.

The Nigerian Blockchain Consortium will be guided by criteria which include:

  • Support blockchain research, development and education
  • Assist in the creation of a flexible regulatory environment that enables experimentation
  • Support the adoption of blockchain and deployment of same in the public sector
  • Encourage the collaboration with the private sector and citizens through an inclusive ecosystem
  • Promotion of legal certainty for blockchain applications.
  • Utilization of the blockchain technology to solve real life problems.

The strategy document is still in a draft phase. More info to come in due time.

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