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Crypto Updates: G20 Cryptocurrency Tax, TRON and Sirin Labs

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Cross-border tax system for cryptocurrency was proposed in the G20 summit, TRON announced a $100 million gaming fund, Sirin Labs blockchain phone 'Finny'.

G20 countries discussing Cross Border Cryptocurrency Taxation

Recently a cross-border taxation system for cryptocurrency was proposed in the G20 Buenos Aires summit in Buenos Aires, Argentina which happened on 30th Nov to 1st Dec this year. Still, in the most nascent stages in its development, this will represent a strong shift and focus of the world’s biggest economies on to cryptocurrency, particularly cryptocurrency cross-border payments.

The biggest economies in the world are talking about cryptocurrency at the highest level of government as this issue was a key focus of the meeting. The proposal will be further discussed in the next G20 meeting.

 

TRON announces Gaming Fund worth $100 Million

TRON has announced a $100 million blockchain gaming fund being dubbed as ‘TRON ARCADE’. The fund aimed at giving developers the tools and the money that they need to build on top of TRON. This money will be spent over the next 3 years. The gaming market is really seen by the TRON team as a crucial element of their future success.

 

TRON to implement ZCash SNARK technology early Next Year

The team at TRON announced earlier this week that TRON is going to implement ZCash SNARK technology early next year. This will allow of course for private transactions on the TRON Blockchain. The official date hasn’t been announced yet but will be added in the updated roadmap which is promised to be released by the end of the year.

The tough reality right now for Vitalik Buterin is that TRON is scaling. Justin Sun is publically calling for more projects to leave ethereum and to move over to TRON. The pressure has never been greater for Ethereum than it is right now to scale and do it quickly.

 

Sirin Labs has delivered their blockchain phone called ‘Finny’.

Sirin Labs has received big brand endorsements from Leo Messi in the past which helped propel Sirin Labs really into a major spotlight. The phone costs around $1000 and includes a built-in hardware wallet as well as a decentralized exchange for bitcoin, ethereum, and Sirin Labs tokens. The phone will feature AI driven cybersecurity plus a built-in decentralized application store. The phone is built as a one-stop shop for blockchain. Basically intended on making it super easy to onboard new blockchain users.

Is it a little too late for Sirin Labs considering that Pundi X is releasing a phone in a very near future, HTC is also launching a blockchain phone very soon. This is without taking into consideration the serious power of Samsung and Apple in the market and of convincing people that a blockchain phone is necessary and will improve their lives. That is going to be a challenge from taking this from really a very niche market idea to the mainstream. If Sirin labs can get the marketing right, if they can reach the right audience, it could be big. Will you buy the Finny? Tell us your thoughts in the comments section below.

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Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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#Ethereum

Token Taxonomy Initiative: Enterprise Ethereum Alliance & Microsoft

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Token Taxonomy Initiative built as a technology-neutral initiative will operate across different blockchains currently having Ethereum, Hyperledger & Corda.

The Enterprise Ethereum alliance and Microsoft have brought together the major enterprise blockchain providers behind a new project aimed at helping businesses develop the proper crypto tokens for their particular needs.

 

Token Taxonomy Initiative

It is being called the Token Taxonomy Initiative and is being built as a technology-neutral initiative which will operate across different blockchains currently having Ethereum, Hyperledger, and Corda, the biggest enterprise blockchain solutions and this initiative already include large partners IBM, ING, JP Morgan, Intel, and Microsoft, all with the aim of creating token standards for business users across all network.

 

The process for the development of enterprises which is basically going to be as simple as a drag and drop approach. This initiative is a big leap for particularly in terms of actually kicking open the doors for enterprises to enter the space and say that it is quite easy to use this technology.

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JPMorgan expanding itself into the blockchain and crypto space

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JPMorgan Chase has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, the job listing portal.

JPMorgan Chase, the American multinational investment bank and financial services company has been posting a lot of job opportunities in the blockchain and cryptocurrency industry on Indeed.com, a job listing site. According to the data from Indeed.com, the overall job openings for the cryptocurrency industry also seems to be on a rise.

 

JPMorgan Entering the Cryptocurrency Space:

Though the CEO of JPMorgan, Jamie Dimon has always been a strong opponent of Bitcoin and other cryptocurrencies, his company has been interestingly expanding its operations in the field of blockchain and cryptocurrency.

 

Last month, JPMorgan launched its own cryptocurrency known as the JPM Coin, which will serve the bank’s precious customers in order to make transactions between them more swift and steady.

 

Back in 2018, JPMorgan had launched a blockchain powered platform known as Quorum which might be seen quite homogeneous to bitcoin and ethereum, however, it is almost fully centralized in nature.

 

Large companies entering the Blockchain Space:

In recent times, a lot of huge companies worldwide have been entering into the blockchain and cryptocurrency space. According to a recent publication by the Forbes, large organizations such as IBM, Deloitte, Cisco, Microsoft, Consensus, and others have been curiously hiring employees that are experts in the field of blockchain technology.

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