Crypto News of the Day (27.3.) | Atari and The Sandbox work together on the blockchain platform and other news
4 min readTable of Contents
Here you can find an overview of the most important events that took place during the last day in the cryptoworld.
Markets
The situation on world markets eased somewhat after the US announcement of massive subsidies of $ 2 trillion. Major stock indices recovered and NASDAQ grew. Crypto markets has not moved much since yesterday, trading is more horizontal. Bitcoin price is still around 6,700 USD. Altcoins are also slightly in green numbers. Interestingly from the TOP10 XRP and BNB, which scored over 5%.
You can monitor the current cryptocurrency prices – here.
Cryptocurrency
In a recent interview, Arthit Sriumporn, the Senior Vice President (SVP) of Commercial Banking at Siam Commercial Bank (SCB), which is Thailand’s largest bank by total assets, talked about the benefits SCB has enjoyed by being part of RippleNet, Ripple’s global payments network.
An article in Bangkok Post said that the Global Digital Report 2019 “put Thailand top in the global rankings of internet banking service access, at 74% of the population, followed by Sweden (71%) and Turkey (68%).” As for crypto ownership, this report said that “Thailand ranked second with 9.9% of internet users owning cryptocurrency, behind only South Africa at 10.7%, while Indonesia was third at 9.5%.”
Regulations, State digital currency
EY, the court-appointed bankruptcy trustee for the defunct Canadian crypto exchange QuadrigaCX, has been asked to submit all of the exchange’s user information to the Canada Revenue Agency (CRA). Court documents filed with the Ontario Superior Court of Justice on March 24 detail the demand, which spans 750,000 documents on the exchange’s 115,000 customers.
“The Trustee has advised CRA that its intention is to simply produce a copy of the full EDiscovery Database, redacted only for the privilege, in response to the CRA Production Demand,”
The requested data was collected by EY from both internal and third-party sources — spanning personal user information, account balances, and transaction histories from 2016 until 2018.
Blockchain, Technology
Iconic entertainment firm Atari is partnering with The Sandbox (TSB) on the upcoming voxel-based blockchain version of its popular user-generated content and gaming platform. In an announcement on March 27, blockchain startup Animoca Brands — parent company of TSB Gaming — revealed that the collaboration will involve creating 3D voxel versions of popular Atari game properties. These include Asteroids, Centipede, Pong and RollerCoaster Tycoon.
In its blockchain iteration, based on Ethereum, The Sandbox will offer users three new features shaped by the technology: a tool for building non-fungible tokens (NFTs) and in-game voxel assets, a marketplace for trading these assets, and a game maker tool for users to construct, share and monetize interactive games.
Having recorded 140 cases of the deadly COVID-19 pandemic, with just two deaths the government, the government of the United Arab Emirates is now making active use of new technologies in a bid to contain the epidemic. The UAE’s Ministry of Community Development (MOCD) has now replaced its existing paper-based systems with digitized ones, to minimize face-to-face contact with citizens.
The agency has stated categorically that it now relies on blockchain systems, chat applications as well as digital identity of citizens to carry out its duties. Interestingly, the MOCD, whose responsibilities include the issuance of marriage licenses, the establishment of social welfare institutions for the disabled, among others, has made it clear that it no longer accepts paper documents at its customer care centres, instead, it’s only accepting approved digital documents from residents.
The 2020 Chess Candidates Tournament in Ekaterinburg, Russia has been postponed due to the coronavirus, but organizers are already looking to the future and how blockchain can give the sport a boost. The tournament pitted eight grandmasters against each other for the right to take on world champion Magnus Carlsen, but had to be halted after seven rounds when news emerged Russia was about to suspend international flights indefinitely.
Ilya Merenzon, CEO of World Chess, the company that organized the last world championship match and the official commercial partner of the International Chess Federation (FIDE), told that chess was unusually well placed to thrive during the pandemic:
“Unlike other sports, chess can be played with equal excitement offline and online. That is something that sets it apart from all the other major sports. In the absence of other major sporting events, the Candidates Tournament received unprecedented press coverage this time around.”
Lukka Inc released a new library compiling the best academic papers on tax, legal, and accounting questions in cryptocurrency. The library focuses on questions that lack official guidance or regulatory frameworks. Each paper, mostly short-form, addresses the intricacies related to these crypto law, accounting, and taxation questions. A few examples include how to value cryptocurrencies with fluctuating prices for reporting purposes, what options crypto holders have to file their taxes, or “like-kind” exchanges in trading.
There are currently 75 topics addressed in the Lukka Library with plans to include dozens more from professionals in the near future. Unfortunately, the database isn’t freely available to the public. Subscriptions currently run at $99.95 per year.
