Stellar Became the First Blockchain that Complied With the “Sharia Law”

stellar received sharia license

As we mentioned in our article about the first authentic Arabic cryptocurrency (Dubaicoin), the countries of the Middle East were one of the last ones to consider such innovative technologies as blockchain and digital coins.

The thing is, that the citizens of these countries are muslim, which means that all spheres of their life are controlled by religion. All inventions are carefully examined and approved only if they comply with the so-called “Sharia law”.

Stellar which is a blockchain-based network payment platform was inspected by an agency specializing in providing official certificates for companies and projects that meet the “Sharia law” requirements. The agency found Stellar applicable for the certificate. The post about this appeared on the Twitter account of the platform.

According to the post on the official site of Stellar:

The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.

Stellar’s representatives view the certificate as an important step in the development and expansion of their platform, since now it is available for thousands of new customers from Islamic countries.

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The U.S.-China Trading War Influences Cryptocurrency World, Bitmain Suffers Most

Not long ago, we discussed that Bitcoin was in danger, since Chinese authority was able to attack it any time. The US decided to keep up with opponents and stroke the crypto world of China, namely crypto asset industry.

These two countries are currently in a state of trading conflict, introducing tariffs on goods traded with each other. In June the USA changed the classification of ASIC miner, called Antminer S9, in a way that Chinese miners can be at a loss. That month the “electrical machinery apparatus”, the given category to the ASICs, had a 2.6% tariff.

Later in August, the tariff raised by 25 per cent. At the moment, Chinese mining producers deal with the fee of 27.6 per cent on their US shipments.This action has a colossal impact on Bitmain, the company based in Beijing and being the biggest Chinese mining hardware maker.

Bitmain tried to cope with the pressure by filing for a Hong Kong IPO. It could reportedly rise $3 billion. The company’s filing also mentioned the fact that about 62.8% revenue came from overseas in first half of 2018, though there was no comment on how many sales had come from the US.

The crisis came to Bitmain at a very bad time. IPO filing showed the company’s turnover dropped in second quarter of 2018 drastically, losing about $400 million in compare to $1.1 billion net profit in the first quarter.

One of the analysts, Mark Li, reckons the US tariffs aim at making Chinese hardware less competitive than opponent ones produced in other countries. He also added that Bitmain’s boardship is more aware of technology arms race, where the company is falling behind

The cold trading war between China and States can last for a long time, yet no one is sure how much loss or profit it can bring, we are only able to watch and wait. Now we want to remind you

Mining Complexity: What It Is and Where It Will Get

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TRON Is Partnering Up with Baidu: What Is the True Purpose of This Collaboration?

A decentralized blockchain platform TRON, which is one of the main competitors of Ethereum, announced its partnership with the Chinese web services giant Baidu.

Although, the TRON team assures the aim of this partnership is spreading blockchain solution among the crypto community, there has been a lot of speculation regarding this issue.

Many people believe that TRON is currently working on the launch of its own platform for video content, as an alternative to YouTube. Such assumptions were caused by the comments from TRON developers regarding the recent access issues on YouTube. They claimed that this would not have happened on TRON.

We remind you:

Justin Sun Offers the Venezuelan President to Connect Petro to Tron instead of Ethereum

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The Blockchain-Based Platform of Telegram Is Almost Ready

Telegram (cosmonaut)

As reported by the news media Vedomosti, the first news about the upcoming release of the blockchain of Telegram Open Network (TON) appeared in September and were privately sent to the major investors.

The project is approximately 70% ready. The main component, Virtual Machine, is fully completed, meanwhile, the developers are finishing up with the actual blockchain: the structure for creating new blocks and storing data in them.

Pavel Durov, the founder of Telegram messenger, and his team managed to raise almost $2 billion for this platform. It will be functioning some time at the end of November.

We remind you that the first stage of this blockchain, the Telegram Passport, which is a verification and authentication service, successfully went live in July.

Telegram Launches Passport Authorization Service

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Roubini vs. Buterin: Why Did Their Conflict Reach Live Debates and What Does McAfee Have To Do With It?

The conflict between two titans of the financial world – Nouriel Roubini and Vitalik Buterin is gaining momentum.

Forbes editor Laura Shin invited famous personalities to move from Twitter skirmishes to real live debates. Roubini and Buterin refused to cooperate with Shin, but they did not abandon the idea to talk live.

Where did it start?

As we reported earlier, an American economist Nouriel Roubini expressed a tough view of decentralization and the creator of Ethereum, Vitalik Buterin, on the Twitter account comparing him with a dictator and saying that “Decentralization in crypto is a myth. It is a system more centralized than North Korea ”.

After Buterin replied to Roubini that the above mentioned statement  is not “a fair characterization”, a long verbal skirmish began with personal attacks:

Conflict development

The more time passes, the more disagreements appear. Arthur Hayes, one of the founders of BitMEX crypto exchange, joined this “dialogue”, proposing to hold a discussion and pay all costs. Nouriel Roubini answered to this proposition no less harshly than Buterin, calling BitMEX “a criminal scam”.

Nevertheless, Roubini wrote on Twitter that he would be happy to discuss with Buterin in live mode. To which Vitalik replied: “Yeah sure why not.” For this purpose, they chose their own moderator, Kevin Pham, who is known not to support either of the sides. Laura Shin’s proposal to become a moderator was rejected because Roubini  have no interest to interact with @laurashin as he considers her biased.

What’s next?

Such a prominent event in the crypto world could not be ignored by the well known crypto personalities. John McAfee, who likes to be in the heart of events, has comically commented on this situation on his Twitter page. We think McAfee would be a good moderator, he would definitely give a sting to this debate.

Jokes aside, such “verbal duels” should end sooner or later, and we hope the live debates will help the opponents understand each other and find a common language.

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Sony Will Manage Its Work Using the Blockchain Technology

The Japanese electronics giant Sony announced the adaption of the blockchain technology in order to improve and upgrade its systems of work.

As stated in the official press release of the company:

This new system is based on Sony and Sony Global Education’s previously developed system for authenticating, sharing, and rights management of educational data, and additionally features functionality for processing rights-related information.

Different branches of Sony will utilize blockchain for similar purposes, but in different spheres, namely:

1. Sony Corporation, which is actually a producer of electronic devices, will create a special management structure on blockchain. It will help keep track of copyright of particular digital content and protect it from any type of violation.

2. Sony Music Entertainment will use the system while focusing mainly on music-related content. Given the amount of music stolen nowadays, Sony representatives believe that their innovation might help smaller artists keep ownership to their own music.

3. Sony Global Education aims at revolutionizing the sphere of education. Blockchain will be used to manage and distribute information and store educational content.

This is not the first time the company touched upon blockchain. In the past, it submitted around 20 different blockchain-related patents and made it into top-30 businesses that work with this technology.

Sony is not the only electronic device producer that took interest in blockchain. We remind you:

Samsung Created a Blockchain Platform for Banks

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OKEx Adds 4 Stablebcoins To Its Listing

A well-known cryptocurrency exchange OKEx announced the support of four stablecoins on its official Twitter account, namely: TrueUSD, USD // Coin, Gemini Dollar and Paxos Standard Token.

Starting from October 15, the platform users will be able to make deposits with these assets. Bidding will start the next day. Tokens will be traded not only in pairs with BTC, but also with Tether.

We also remind, an Internet giant GMO Internet announced the release of its own stablecoin, which will be backed by yen:

Japanese Internet Giant Launches Its Own Yen-Pegged Stablecoin

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