Good morning traders!
Yesterday we had more positive than anticipated news out of the SEC Senate hearing, which stopped the marketwide cryptocurencies freefall.
More and more countries admit, that they are not looking to lock down cryptos completely, rather take a cautious approach and then regulate what is needed, without curbing the wings of progress on the way.
Tharman Shanmugaratnam, Deputy Prime Minister and minister in charge of MAS (Monetary Authority of Singapore / central bank), stated on February 5th, that they will not pursue intervention and harder regulatory measures on cryptocurrencies.
While their attitude towards cryptocurrencies differentiate from their neighbours' views like night and day, the reason for this might also be that the volumes and involvement with cryptocurrencies in Singapore is at a relatively low level. Nevertheless, the statement was clear - authorities will support all innovative uses of blockchain experiments while being vigilant to any risks arising.
“We will continue to encourage experiments in the blockchain space that may involve the use of cryptocurrencies, because some of these innnovations could turn out to be economically or socially useful. But equally, we will stay alert to new risks.”
Catch the details of his testimony on ccn.com
Need proof that blokchain technology is spreading everywhere? Let's look at a use case - Decentralized blockchain auctions.
Auctionity is an online blockchain based auction system, that aims to make the auction signup, participaton and finalizing process more easier for the end-user and more transparent for everyone. With data timestamped on the blockchain and every step logged, this will make managing payments, ownerships and security a breeze
With various widgets and APIs, websites can integrate Auctionity based auctions into their websites easily. Decentralization will eventually reach every part of our lives and then services like this will not look like anyhting new to us, but now every pioneer in the blockchain technology is welcome.
Check out Auctionity's roadmap and many other things on their website at https://www.auctionity.com/
Check out Chainbb, an alternative frontend for STEEM network. If you like forum style, that's the platform for you.
Title image from pixabay
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