Crypto Regulations Coming To Belarus

It has been reported that the eastern European country, Belarus is launching its own cryptocurrency regulatory framework effectively which gives more clarity to the regulatory landscape in the country.

The initiative was crafted by the Belarus High-Technologies Park (HTP) which is a special economic zone in Belarus that operates on the principle of extraterritoriality which means companies registered in the eco-zone will be able to take advantage of its sandbox-style advantages.

HTP administration is responsible to coordinate with the Belarus National Bank, the Financial Monitoring Department of the State Control Committee, international experts and other bodies with regards to regulations on cryptocurrency-related businesses.

This includes ensuring compliance to establish financial regulations locally and abroad like EU’s General Data Protection Regulation.

According to the former deputy head of the National Bank of Switzerland, Martin Hess, Belarus has developed a unique digital asset management project which is efficient and simple for businesses.

The U.S. Food and Drug Authority Hires Blockchain Specialist

The commissioner of the U.S. Food and Drug Authority (FDA), Scott Gottlieb has recently announced the hiring of blockchain specialist Frank Yiannas.

The former Walmart executive was instrumental to the implementation of blockchain solutions for food traceability to the retail giant and was the vice president of food safety.

He will be the deputy commissioner for food policy and response in FDA.

The initiative was part of the agency’s effort to beef up its food traceability capabilities.

This comes in the wake of a recent E. coli outbreak connected to romaine lettuce were many people are wondering how the US food supply chains can be made safer and how the source of food can be traced as quickly as possible.

There is no evidence yet that FDA will be implementing the emerging technology but have recently acknowledges that by using blockchain technology companies like walmart has strengthen their food traceability capabilities and enable greater food system transparency which seems to be in line with what the agency is trying to accomplish.

Asus and Quantum Cloud Partners To Bring Passive GPU Mining

Asus and Quantum Cloud have partnered together to enable uses of Asus branded GPUs to mine cryptocurrencies.

The Taiwan-based company has stated that its users will be able to use Quantum app to mine cryptocurrencies passively.

However there is a catch in the new initiative as there will be no guarantees if the activity will make profit.

It is understandable that both companies have stated there are no guaranteed profit as it is stated that users who opt to join the mining can potentially earn a passive income.

Income will be based on the current market price, difficulty of mining, energy cost as well as other factors.

The initiative is a great effort to introduce the gaming community to one aspect of the cryptocurrency ecosystem - Mining.

However, only time will tell if the initiative will be successful.

Some are saying it is just a PR move on Asus to associate themselves with blockchain or cryptocurrencies.

Media Coverage Spiked After Market Slump

Clovr, blockchain-oriented research firm, has revealed that the coverage in the mainstream media of crypto-related news spikes when the market drops off.

The firm tracked the correlation between coverage of mainstream media outlets compared to the cryptocurrency values for a period of 5 years.

The research firm surveyed 48 mainstream U.S.-based and international media outlets for pieces covering cryptocurrency from Jan. 1, 2013 to July 31, 2018 which included about 7, 527 online news articles.

The research firms indicates that as recently as 2016, the positive articles far exceeded negative ones both in terms of volume and intensity.

However in the mid-2017, articles expressing negative sentiment grew more common following grim prognostics from the likes of Warren Buffet and Mark Cuban.

The analysis also reveals that articles coming from Forbes and Business insider with a combined number of articles of 1,335 are on the positive side while negative articles only accounts to about 413.

CNBC has reported about 1,000 crypto-related articles with about 52.9 percent as positive and 47 percent being negative.

American far-right news website Breitbart News along with left leaning American news organization Raw Story publish around 91 negative articles with only 1 positive news.

New Bitcoin Mining Patent Won By Intel

It has been reported that the technology giant Intel has recently won a patent for a system for optimizing Bitcoin mining.

The patent was originally filed back in 2016 and is described as an optimized SHA-256 datapath for energy-efficient high-performance Bitcoin mining.

According to the patent’s technical description, it involves optimization of micro-architectures that will enable it to increase mining efficiencies and reduce power consumption as much as 15%.

With the current market condition it has made mining cryptocurrencies less profitable and any sort of savings will greatly help the embattled industry.

By increasing the efficiency of ASIC-based SHA-256 miners Intel is helping to tackle the current mining deficit by minimizing mining company electrical cost which in turn should increase their profit margins.

Although this is a welcome development, many believes that this energy saving patent just came too late for the already crippled crypto mining industry which has seen many have filing for bankruptcy and some resorting to extreme measures selling ASIC equipment by kilo to cover cost.

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