The State of Liberland Is Incorporating Blockchain into the Legal System 556

The State of Liberland Is Incorporating Blockchain into the Legal System

Nowadays everyone releases their own cryptocurrencies, even those who have not done it yet, are already planning the name for their future coin. So the tiny state of Liberland, which is a free republic located between Serbia and Croatia, announced the release of its cryptocurrency called Merit.

Bitcoin, Bitcoin Cash and Ethereum have recently been used in the country, and now country’s ideologists are going to issue their own cryptocurrency.

The territory of Liberland didn’t belong to any country, in the 1990s it was planned that the land would fall into the hands of Croatia or Serbia, but neither of the countries was interested in this.

In 2015 a Czech politician Vit Jedlicka called this land Liberland and expressed a desire to acquire this no-man’s territory.

At the very beginning, the state used Bitcoin as its currency, and money for financing government institutions was collected with the help of crowfunding.

Now, the authorities of Liberland intend to introduce blockchain into the country completely, to build a legal system with its help that will operate on the basis of smart contracts.

The launch of the cryptocurrency Merit is planned for the 13th of April, timed to the date of the country’s founding. You should not doubt the fact that Vit Edlishko knows what he is doing, since before the foundation of Liberland he used to work as an economist, tax specialist in the Czech Republic, and also as an analyst of financial markets.

The country attracts more and more attention of businessmen due to its economic laws and lack of taxation, but most of all, businessmen are striving to Liberland because they are afraid of European laws and their possible harm to business.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency 160

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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Cryptocurrency Advertising Was Banned on the Bing Search Engine 71

Cryptocurrency Advertising Was Banned on the Bing Search Engine

According to Investing, the search engine Bing, which belongs to the largest corporation Microsoft, will no longer display ads on cryptocurrencies, blockchain technology and products related to digital currency.

“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” wrote Melissa Alsoszatai-Petheo, a Bing advertiser policy manager, in the announcement. “To help protect our users from this risk, we have made the decision to disallow advertising.”

The updated policy on financial products and services will go into effect worldwide in June, and the enforcement will begin in late June or early July. Although Bing is not the most popular search engine, but the market of cryptocurrencies reacted to the news with a fall.

We remind you that earlier such global media, as Facebook, TwitterGoogle and YouTube refused to display ads of cryptocurrencies.

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