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Roundup – 3/11/2018 – Blockchains CEO Wants to Build a Smart City in Nevada & more

Blockchains CEO Wants to Build a Smart City in Nevada

Jeffrey Berns has acquired 67,000 acres in the desert of Northern Nevada to build a smart city. Reportedly, he invested $170 million USD for the land alone. Berns met up with Tesla founder, Elon Musk and the governor of Nevada, Brian Sandoval.  The project has the name ‘Innovation Park’. It wants to implement the newest technologies like AI, blockchain, 3D printing and AI. The city will attract innovative businesses but it will also include housing units. Construction for the project will start towards the end of 2019.

Brazil’s Financial Authority Keeps Exchanges on Short Leash

Brazil’s Department of Federal Revenue (RFB) announced that it is going to monitor crypto transactions of exchanges in the country. The monitoring concerns transactions that exceed the value of 10,000 Brazilian Real ($2,700 USD). The Brazilian authorities require exchanges operating in the country to submit monthly reports on all their transactions. Exchanges that fail to do or that submit wrong reports will face fines. The RFB is also concerned about the private use of cryptocurrencies. The Brazilian government is very skeptical about cryptocurrencies. The anonymity that some cryptocurrencies offer are an issue regarding money laundering and other ‘criminal activities’.

Zach Abrams: Cryptocurrencies’ Rise Is Different From That Of The Internet

Many people have compared the emergence and progression of Cryptocurrencies and Blockchain technology to that of the internet in the 1990s and in the early 21st century. However, Zach Abrams, the CEO of Coinbase, has a different take on the matter. He believes that the two inventions are different in not only the context but also in how the world is responding to them. Instead, he is comparing the Digital Assets growth and trends to those of world-famous technologies that have completely changed how the world functions and operates.

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World Bank President Believes That Blockchain Has “Huge Potential”

Organizations can adopt Blockchain technology to realize their growth potential and business goals. This is according to Jim Yong Kim who is the President of the World Bank. He believes that Blockchain technology has a “huge potential” that is yet to be tapped by the world. Kim added that DLT could help the organizations to utilize resources that could take “forever”. World Bank President, Jim Yong Kim, was speaking In Bali Indonesia during an annual meeting. The conference was organized by the World Bank and the International Monetary Fund (IMF).

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