Combating Corruption in Colombia
Colombia’s president Ivan Duque plans to fight corruption in Colombia through blockchain. He believes that in order to get rid of corruption, transparency is absolutely necessary. Using tools such as blockchain will help to make government dealings more understandable and transparent for individuals to see. Duque believes that blockchain technology can be used to see how government funding is accessed and used in the country and can also be used as a method for tracking data.
Alibaba Dives into the Blockchain World
Alibaba CEO Jack Ma revealed that the Alibaba group has launched a payment platform under the name of Ant Financial. Ant Financial plans to execute transactions globally. This platform is part of an initiative by Ma to increase the usage of blockchain technology for social change. Ma believes that blockchain technology can be used to handle security, sustainability, and data privacy.
Bahamas Plans to Issue its own Cryptocurrency
The Central Bank of the Bahamas plans to issue cryptocurrency as a way to help the country’s economic development. There are also some financial barriers that citizens face when using traditional FIAT money, a problem that the Central Bank hopes to combat with the use of cryptocurrency. Using cryptocurrency also helps the economic situation of the Bahamas because there are some areas where there are no banks that have been established, so using digital currency aids residents in those communities. The island nation also has intentions to use blockchain for other applications such as notarization.
Jordan Belfort Thinks Bitcoin Will be Dead
The “Wolf of Wall Street” Jordan Belfort doesn’t believe that Bitcoin has a strong future. In a recent interview, Belfort shared his thoughts on Bitcoin saying that the end is near. He mentioned that based on his own previous experiences, he doesn’t believe that Bitcoin would be sustainable if the market crashes. Belfort further went on to express his views by saying that blockchain as a technology is promising, but that Bitcoin does not have much utility. Do you agree or agree to disagree?
Coinbase CEO uses Crypto for Social Change!
Crypto for a cause! Coinbase CEO Brian Armstrong launched GiveCrypto, a nonprofit in which your crypto can be distributed to people living in poverty. GiveCrypto allows you to help people in poverty by using your crypto to make direct cash transfers. The crypto can then be used by the recipients in their local communities. A number of developers have supported the cause by distributing their crypto, and Armstrong has plans for even more participants. GiveCrypto is a good example of the power of decentralization, as it allows for wealth distribution and gives access to resources to people across the globe. No bank necessary, just a smartphone and goodwill.