Association of German Banks Joins ITSA to Create Token Standardization
The Association of German Banks (Bundesverband deutscher Banken (BdB) has become an associated member of the International Token Standardization Association (ITSA). ITSA announced this on the 15th of April on its website. The association aims to create an International Token Identification Number (ITIN). It would be the crypto counterpart to the International Securities Identification Number (ISIN). However, ITSA also aims to create other standards across the different industries such as a classification system for token and an international database for tokens.
South Korea’s KT Corporation Launches Blockchain-Powered 5G Network
South Korea’s largest telecom company KT Corporation, has launched its 5G (fifth generation) network brand that is powered by Blockchain technology. This is according to a Korea Times report on April 16th. Codenamed as GiGa Chain, the integration of the Distributed Ledger Technology on the 5G network aims to provide fool-proof security for Internet-of-Things (IoT) devices that will be using the service.
Is Binance’s DEX Really Decentralized?
Many prominent figures in the crypto space have criticized the big exchanges in the space as centralized institutions. Mt. Gox and QuadrigaCX are only the most infamous examples of the negative consequences of centralized exchanges. But also a relatively well-functioning exchange like Binance received or still receives criticism. Vitalik Buterin e.g. criticized Binance several times for high listing fees and for enriching itself. As a consequence of this, many people predicted the rise of decentralized exchanges. Binance has now responded to this common demand for decentralized exchanges. The platform launched last week – but how decentralized is it really?
Binance Coin (BNB) Expected To Surge In Value After A Successful Burn
In the period between January 1st and March 31st, Binance was conducting its 7th burn for its Binance Coin (BNB). The team is announcing that the burning process has been completed successfully. This is positive news for BNB holders as their tokens could surge in value as a consequence. The amount of BNB will decrease which could lead to an overbought condition that has the potential to create a bullish sentiment.