Blockchain

• [New] Today Coinbase will list on Nasdaq, marking another key step towards cryptocurrencies becoming a mainstream medium of exchange.
• [New] In order for blockchain to become the future basis of payment services, central banks across the globe will need to adopt digital currencies and facilitate the creation of a blockchain ecosystem.
• [New] We find that the carbon emission pattern of Bitcoin blockchain will become a potential barrier against the emission reduction target of China, the researchers found.
• [New] By then, the peak annual energy consumption and carbon emissions of China's Bitcoin blockchain will exceed the annual energy consumption and carbon emissions of some developed countries such as Italy, the Netherlands, Spain and the Czech Republic.
• [New] There's been a pickup in 2021 in the number of financial institutions and other companies saying they will allow their customers to use or to gain access to cryptocurrencies and the blockchain technology that backs them.
• [New] A new global accord has been set up to align the swelling cryptocurrency market with the ambitions of the Paris Agreement by ensuring that blockchain and energy-intensive currency mining systems are powered by renewables and reach net-zero emissions by 2040.
• [New] If Dunamu were to go public in the U.S., then people will realize that cryptocurrencies are not just scams or bubbles, and it can change the Korean perception of cryptocurrencies.
• [New] The Financial Market Authority has warned investors that cryptocurrencies are risky and that the FMA does not supervise or regulate virtual currencies, including bitcoin, or cryptocurrency trading platforms.
• [New] All operations with cryptocurrency are speculative and carry a high risk of loss of value.
• [New] In 2021, blockchain as a concept is expected to be more widely used in industries beyond cryptocurrency all over the world for a variety of purposes.
• 55% of business owners believe that blockchain technology will be critical to their organization in the next two years and individuals are becoming more trusting in the future of cryptocurrencies, especially millennials, with 60% of them being familiar with cryptocurrencies.
• Russia is joining other central banks across the world that are stepping up efforts to develop digital currencies to modernise financial systems, speed up payments and counter a potential threat from other cryptocurrencies.
• The energy usage of the Bitcoin blockchain would peak in 2024 at almost 297 terawatt-hours and generate 130.50 million metric tons of carbon emissions.
• We find that the carbon emission pattern of Bitcoin blockchain will become a potential barrier against the emission reduction target of China.
• Without any policy interventions, the carbon emission pattern of the Bitcoin blockchain will become a non-negligible barrier against the sustainability efforts of China.
• The Bitcoin blockchain could consume as much energy per year as a small to medium-sized country such as Denmark, Ireland, or Bangladesh 16; finally, the large energy consumption of the Bitcoin blockchain has created considerable carbon emissions.
• Global central banks are looking at developing digital currencies to modernise their financial systems, ward off the threat from cryptocurrencies and speed up domestic and international payments.
• The Bank of New York Mellon, which is the oldest bank in the US, announced that going to allow asset management clients to hold, transfer and issue bitcoin, along with other cryptocurrencies.
• Unless competitors can design around Square's patents, Square could monopolize banking of cryptocurrency in the United States.
• Square could one day become a bank of cryptocurrency enabling commercial transactions in cryptocurrency, as described in its patents on Cryptocurrency Payment Network.
• With blockchain technology becoming more popular every day, it is only apparent that there will be a major boost in both the number and strength of blockchain projects in 2021.

Last updated: 18 April 2021