Layer X blockchain-based voting system to CBDC being future of money, Read Today’s Top 5 Crypto News.
1) Layer X, a Japanese blockchain firm builds a blockchain-based e-voting system.
Layer X, a Japanese blockchain firm has built a blockchain-based selection voting system that aims to overcome problems including the prevention of double voting, accurate storage of voting content, voter confidentiality, and management of operation records. This step of the firm takes Tsukuba City closer to the smart city version. Layer X plans to join the Tsukuba City, Ibaraki Prefecture smart council.
2) New Jersey launched a state-level licensing framework for crypto firms.
The New Jersey Senate introduced a new bill, Digital Asset and Blockchain Technology Act. According to the bill digital assets businesses that issue digital assets, offer digital asset exchange services, borrow and lend digital assets, and store, hold, or maintain custody of digital assets on behalf of others should be licensed or should have already filed a license application. Any business which performs the above activities without license or pending license application will have to pay a penalty of $500 per day.
3) Trading volume on decentralized exchange increases by 1,132% for the third quarter.
According to TokenInsight’s report Trading volume of Decentralized exchanges (DEXs) for the third quarter was $42.6 billion which is 1,132% of the last quarter. Eight decentralized exchanges had a trading volume of more than 1 billion for the third quarter.
4) Ripple opened a regional office in Dubai International Financial Centre.
Ripple opened a regional office in Dubai International Financial Centre (DIFC) as it is Dubai’s free-trade zones that act as an independent regulator with its own judicial system. Navin Gupta, managing director at Ripple said –
Ripple already has a significant client base in the MENA [Middle East and North Africa] region and the opportunity to co-locate with our customers made DIFC a natural choice. Our regional office will serve as a springboard to introduce our blockchain-based solutions and deepen our ties with even more financial institutions in the region.
5) Nouriel Roubini believes CBDCs are the future of money.
Nouriel Roubini, an award-winning economist believes ‘cryptocurrency’ is inapplicable title as it isn’t currency. Roubini also added “Nothing is priced in Bitcoin or any other cryptocurrency,” claiming that crypto does not provide either a “single numerator,” or a “scalable means of payment.” Roubini predicted CBDC will be common in 3 years.
So not only you don’t need crypto, you don’t even need Venmo. You don’t even need a bank account. You don’t even need the check. And the big revolution we’re gonna see in the next three years is gonna be central bank digital currencies.