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Binance Tenders Unreserved Apology After Massive Pressure from Steemit Community

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Following Tron’s move to onboard steemit, the community didn’t seem to have taken well to a change in leadership. In a move to pacify the Steemit community after the recent showdown, Binance Representative recently published a letter of apology in order to address the situation from further spiraling out of control.

The letter which was addressed to the STEEM community on March 10, where binance tendered its sincere apology for the recent situation involving STEEM, stating that the unpleasant situation stemmed from a lack of proper communication about the specifics of the blockchain’s upgrade/hard fork, while also declaring that their decision to participate in voting has now been reversed following the outcry from the STEEM community.

Binance also vows not to pick a side in the ongoing situation as it has no interest whatsoever in on-chain governance beyond its ecosystem. Holding only a supportive position of normal upgrade/hard fork with the intention to maintain the present status quo in the future.

The content of the letter further stated that it hopes the STEEM community and TRON foundation led by Justin Sun will reach a swift consensus in an efficient manner. Going on to declare that if both parties failed to reach a truce and it poses potential risks/damages to STEEM users on Binance, they reserve the final right to take necessary actions with the approval from its users.

Binance furthers reconciliatory move

Binance engaged in community voting with the interest of its users in mind, providing staking services to PoS-based crypto users on its platforms. The staking rewards generated from community voting are fully disbursed to the respective users at a specific period.

Rounding up the letter is the part where it promised to continue to distribute staking rewards to users on a regular basis while showing it has completed the process of powering down all 31,730,000 STEEM. According to the voting rules on STEEM, the Steem power is withdrawn over a period spanning 13 weeks which is also the total amount that was selected.

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China Boasts of Establishing Over 10,000 New Blockchain Companies in 2020

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Notwithstanding that the whole world was shut down recently due to the Coronavirus pandemic, it appears that China has scaled higher in terms of the number of Blockchain companies newly established. They have recorded 10,000 more Blockchain companies.


LongHash, a Blockchain and Crypto data platform reiterated this last week on the 8th of August via a tweet that China’s Blockchain industry is witnessing substantial growth regardless of the Coronavirus scourge this year. LongHash revealed that more than 10,000 blockchain companies were established from the period between January and July of 2020.

LongHash made it a point to note that the present number of companies that make money via Blockchain-related services is on it’s way to exceed the 2017’s number of Blockchain companies. From their point of view, 2020’s metrics could even eclipse that of 2018’s aggregate of 18,500 thereby redefining the all-time high standard.

Source: LongHash

This graphic illustration makes it clear that China has 84,410 Blockchain incorporated companies, and out of these, about 29,340 are a going concern. The Guangdong area in South-east China appears to enjoy the highest number of Blockchain startups. Also, the Southwestern area of Yunnan is the province with the second highest number of Blockchain startups.

This number does not mean that all the Blockchain companies are flourishing. A sizeable number of the startups incorporated with a rather small share capital.One of the most recurrent highest registered capital has been recorded to be 5,000 yuan. This is more or less $717. Only a handful of these startups registered with more than #50,000 yuan which is approximately $7,175.

The Chinese government has also hopped in the Blockchain train and is putting plans and works in place to utilize the nascent technology so as to ensure more proficient government services. Even China’s Central Bank was able to access about $4.7 million as grant for its blockchain exchange for another three years. China has endorsed about 224 blockchain projects from giant companies to wit: Walmart, JD, and Baidu etc.

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Dapper Labs raises $12M from Blockchain firms and NBA players

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Dapper Labs Says it has raised $12 million from its latest investors for its flow blockchain. Dapper Labs are the masterminds behind the CryptoKitties and the NBA Top Shot project. Pro NBA players as well as notable blockchain companies were part of the investors that raised the $12 million fund.

The NBA players Andre Iguodala of Miami Heat, Spencer Dinwiddlie and Garrett Temple of the Brooklyn nets, JaVale McGee of Los Angeles Lakers, and Aaron Gordon of the Orlando magic were one of the new investors. Coinbase ventures and BlackTower capital were as well part of the investors.


Dapper Labs has now raised an approximate of $38 million dollars all together. Roham Gharegozlou, Dapper’s founder and Chief Executive officer has said that the funds secured will be monitored to make “sure Flow can scale to the size of projects appealing to fan bases as big as NBA.”

$1.2M in token sales
Dapper also stated that it has sold crypto-collectibles worth $1.2 million dollars to a number of early users on the two-month old experimental version of its NBA Top Shot platform. Top Shot players can buy non-fungible tokens (NFTs) used to depict certain moments in basketball history. Over 22,000 packs of these NFTs worth $1.2 million dollars have been sold on the beta platform.


Each NFT token represent a significant moment and they offer players an experience to see data and videos that each token depicts in multimedia form.


The CEO, Roham noted Flow blockchain can host tokens that feature 3DI animation. He stated it was built to ensure any of the token (NFT) has access to topnotch environments wile talking to Cointelegraph – “to make sure that any NFT has a chance to be able to access a high-throughput environment, have people build applications for them, [and] scale to billions of users”.

Notable raise in Blockchain gaming firms
Blockchaingamer.biz data together with the recent fund raise of Dapper, a total whooping sum of $550 million dollars have been raised by Crypto gaming firms. This total comes from $336 million in sale of tokens, Initial Coin offerings (ICOs), $189 million from stocks and capital offerings in form of traditional investments and other fundraising techniques.


Last month, about $18 million was raised in total. Sorare, a fantansy soccer game raised $4 million in seed fund raise and Animoca Brands got $4.1 million from specific investors. DMarket was able to raise $6.5 million in June. Other companies like Horizen Blockchain Games and SuperTree raised $5 million and $2.5 million respectively in the first quarter of the year.


However, CEO of Animoca, Yat Siu has said the $550 million mark is just the inception as it is quite small compared to the current worth of gaming which is a $150 billion industry. He said while speaking to cointelegraph – “Gaming today is a $150 million industry and $500 million invested today is still a small amount, given both the potential in games as well as, we belive, the most viable path to mass adoption of blockchain, we think this will only grow more significantly”.

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Japan’s FSA Commissioner advises to develop Digital currency

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One of the Japan’s high-ranked financial regulators, Ryozo Himino, advised the nation to develop a Central Bank Digital Currency according to Reuters report. The pandemic might make states of the world adopt digital currency economy. Himino noted that Japan should have a plan to create a digital currency first before worrying about challenges that a digital currency might encounter.

He stated that Japan should weigh the benefits and demerits of a digital currency issued by the government and make sure all essentials for building a CBDC are available when it’s time to develop one-


“in the end, Japan must think really hard about whether to issue CBDCs because there are merits and demerits in doing so”.


It was said that Coinfomania reported last year that research on digital currency has started in Japan. A group of researchers from Apex bank were said to have released a paper on the benefits and shortcomings of issuing a CBDC according to the report.


The commissioner stated that the country’s stance on making cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) illegal might backfire on technical innovation –


“Deregulating bitcoins and other cryptocurrencies may not necessarily promote technical innovation. If doing so simply increases speculative trading, we are not taking special steps to promote cryptocurrencies”.


The effect of the Covid-19 pandemic has seen to financial institutions globally finding solutions to ease the economic wreck. Research are being made also to cushion any economic problems that might arise in the future.


Himino has a track record of heading different notable financial organizations globally including the Basel Community on Banking Supervision and Japan’s Financial Service Agency. He is currently the Japan’s Financial Service Agency Commissioner. He was also the secretary-General of the Basel committee on Banking Supervision.

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FEATURED

Japan’s FSA Commissioner advises to develop Digital currency

Published

on


One of the Japan’s high-ranked financial regulators, Ryozo Himino, advised the nation to develop a Central Bank Digital Currency according to Reuters report. The pandemic might make states of the world adopt digital currency economy. Himino noted that Japan should have a plan to create a digital currency first before worrying about challenges that a digital currency might encounter.

He stated that Japan should weigh the benefits and demerits of a digital currency issued by the government and make sure all essentials for building a CBDC are available when it’s time to develop one-


“in the end, Japan must think really hard about whether to issue CBDCs because there are merits and demerits in doing so”.


It was said that Coinfomania reported last year that research on digital currency has started in Japan. A group of researchers from Apex bank were said to have released a paper on the benefits and shortcomings of issuing a CBDC according to the report.


The commissioner stated that the country’s stance on making cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) illegal might backfire on technical innovation –


“Deregulating bitcoins and other cryptocurrencies may not necessarily promote technical innovation. If doing so simply increases speculative trading, we are not taking special steps to promote cryptocurrencies”.


The effect of the Covid-19 pandemic has seen to financial institutions globally finding solutions to ease the economic wreck. Research are being made also to cushion any economic problems that might arise in the future.


Himino has a track record of heading different notable financial organizations globally including the Basel Community on Banking Supervision and Japan’s Financial Service Agency. He is currently the Japan’s Financial Service Agency Commissioner. He was also the secretary-General of the Basel committee on Banking Supervision.

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