Belarusbank Crypto Services to Vaiot & IBM Car Insurance Assistant, Read Today’s Top 5 Crypto News
1) Belarusbank to lead the crypto exchange services.
Belarus, officially the Republic of Belarus and formerly known as Byelorussia or Belorussia, is a landlocked country in Eastern Europe. The countries largest bank “Belarusbank” is expected to launch its own crypto exchange services. As per the reports by local news sources, users will be able to trade cryptocurrency directly from their VISA cards. Belarusbank is the first bank in the country to step into cryptocurrency & adopt the change. The main reason for the adoption of cryptocurrency in Belarus has always been the support of local crypto service providers & friendly regulations.
2) Robert Bench believes privacy is important for CBDC.
Robert Bench, an assistant vice president in the Secure Payments group for the Federal Reserve Bank of Boston believes while developing CBDC privacy should be kept in mind. During the Chamber of Digital Commerce panel on Friday, Bench said
One of our learnings is that the questions of privacy and identity must be considered at the earliest stage of the architecture. Making privacy or identity an ad hoc process is suboptimal from both a privacy or identity perspective, and most importantly from a security perspective.
3) Leader of England’s central bank says ‘Banks will have to adjust’ to digital assets.
Jon Cunliffe, one of the leaders of England’s central bank said
Our job is not to protect bank business models. Banks will have to adjust. Our job is to ensure that if bank business models change, we manage the financial and macro-economic consequences of that.
Cunliffe feels that CBDC is posing threat to the solutions provided by the commercial banks.
4) PayPal gets criticized after publishing definitions of some cryptocurrencies.
PayPal started informing its customers about cryptocurrency information. It described Bitcoin as
Bitcoin (BTC) introduced innovations that showed crypto could someday be as commonly used as cash and credit. It set off a revolution that has since inspired thousands of variations on the original. Someday soon, you might be able to buy just about anything and send money to anyone using bitcoins and other cryptocurrencies.
They also defined Bitcoin Cash, Ethereum, Litecoin, and altcoins and that’s where the crypto community on Twitter got enraged.
5) IBM’s Watson Assistant can now sell Car Insurance using Blockchain.
IBM Watson Assistant is an AI product that lets you build, train, and deploy conversational interactions into any application, device, or channel. Vaiot a Malta-based virtual assistant firm has integrated Cosmos blockchain into IBM’s Watson. Christoph Surgowt, CEO of Vaiot’s states:
The opportunities that come with AI on cloud and blockchain technologies allow companies from the insurance and InsurTech sectors to digitize and improve their current processes, and we are confident our solutions will jumpstart this transformation.
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