No Timetable Yet for Digital Yuan Launch, Google Finds Theta + More News

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Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: Google, Instagram

Digital fiats news

  • A timeframe has yet to be set for the launch of the digital yuan, says the People’s Bank of China (PBoC). Per the South China Morning Post, the PBoC’s governor Yi Gang stated that current digital yuan pilots are “just routine tests,” and that “no timetable exists for an official launch.” South Korean media outlets, such as Seoul Shinmun, have hinted that the PBoC’s announcement could be a sign that Beijing wants to “delay” the launch, as official announcements about the digital yuan have thus far been few and far between.

Blockchain news

  • Blockchain-powered video delivery network Theta (THETA) has announced that Google Cloud has joined its Enterprise Validator Program along with Binance, Blockchain Ventures, and gumi. Google Cloud is now the company’s preferred cloud provider, enabling users to deploy and run Theta nodes directly from Google Cloud Marketplace. Per the announcement, the cloud solution went live on GCP Marketplace today, coinciding with the launch of Theta Mainnet 2.0.
  • South Korea’s heavily backed blockchain startup Iconloop will participate in a decentralized ID R&D project for use on 5G networks with government agencies, reports Tech M. The company will work with the government-run Institute of Information and Communication Planning and Evaluation on the project, which the parties say will help boost security over 5G networks. The South Korean Ministry of Science and ICT is also participating in the initiative.
  • A senior Chinese industry chief and policy-maker has spoken about blockchain technology’s potential role in revitalizing the traditional manufacturing sector. Per JRJ, Chinese People’s Political Consultative Conference member Cheng Jing stated that the central government should support the construction of blockchain platforms that would help promote cash flow at large enterprises, commercial and state-owned banks and other market players. The conference is a major government advisory and policy-forming body.
  • Beijing’s Daxing District is to use a blockchain technology-powered platform to issue digital ID cards, address registration documents, marriage and divorce certificates and driver’s licenses. Per the Beijing Daily, the district wants to roll out a blockchain-based system that will also allow residents to access digital transport, medical and health, cultural tourism and qualification certifications.
  • Singapore-based blockchain project Zilliqa (ZIL) has launched a blockchain-verified, rewards-based CSR (corporate social responsibility) campaign. Per the announcement, in conjunction with Singapore Red Cross and certification partner NextID, Zilliqa launched a SocialPay-powered campaign, where each tweet earns ZIL, and matched proceeds go to Singapore Red Cross’ relief efforts for those affected by the COVID-19 pandemic.
  • The Bank of Lithuania has completed the research phase of its LBChain project, which allowed it to create a blockchain-based sandbox by combining technological and regulatory infrastructures, while also assessing its potential, the press release states. It was used by 11 fintechs from 8 countries that tested more than 10 financial products and services in its developmental stage, and having been already tested by financial market participants, it may also be applied in fields such as energy or healthcare.

Exchanges news

  • South Korean market-leading crypto exchange Upbit has added new warnings about the possible dangers of crypto investment to its platforms, reports iNews24. The exchange says it wants to protect “first-time investors,” who may be more susceptible to misinformation. The trading platform will direct customers and would-be investors to its Upbit Cryptocurrency Index (UBCI), which logs changes in the value of the tokens it lists, and details about market fluctuation.
  • Digital asset management firm CoinShares has announced the launch of the CoinShares Gold and Cryptoassets Index (CGCI), which the press release says is the first EU Benchmark Regulations-compliant index for the digital asset industry that combines digital assets and gold. It leverages the high volatility of cryptoassets, the low volatility of gold, and the lack of correlation between the two, in order to provide exposure to cryptoassets while improving average returns and reducing volatility. The index is live on Bloomberg Terminals and Refinitiv (formerly Reuters).