India has clamped down hard on cryptocurrencies while encouraging blockchain. A complete ban could be in the pipeline and an entrepreneur has recently criticized the India crypto ban.
Lawmakers in the Indian parliament are mulling a stringent legislation for enforcing the India crypto ban. The proposed legislation includes steep penalties and 10-years imprisonment.
Cross-border payments is a large and growing sector, however, it’s slow, costly, and opaque. A new blockchain cross border payments solution from Visa, targeting corporate cross-border payments will help.
Proof Work algorithm, used in famous cryptocurrencies like Bitcoin and Ethereum could be made more efficient, as the high energy consumption shows. A new Amazon blockchain proof of work patent could change that.
Smart contract bugs are increasingly attracting attention, however, smart contract verification is challenging. The Azure Blockchain Platform has now adopted VeriSol, a smart contract verification tool from Microsoft Research, which should help.
The problem of counterfeit drugs is a global one, exposing patients to severe risks. Blockchain can help in combating this, and the recent move by the retail giant Walmart to join the blockchain pharma supply chain project MediLedger is a welcome move
Businesses need enterprise blockchain in order to realize the potential of blockchain, however, enterprise blockchain is hard to implement. A new Blockchain as a Service (BaaS) platform from Salesforce will likely aid them.
South Korea is a happening place as far as the blockchain technology is concerned. The recent Seoul blockchain push by the local government for citizen ID cards will consolidate the gains.
Difficulties in using cryptocurrencies slow down the adoption of crypto. A new WhatsApp Bitcoin integration from Zulu Republic will likely help crypto users.
Reserve Bank of India, i.e., the central bank in India has consistently opposed cryptocurrencies. A lobbying effort on part of technology businesses in India is underway to relax the India crypto ban.