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In France, a cryptocurrency GJCO appeared free from central banks and the government



Yellow vests (Mouvement des Gilets jaunes) is a spontaneous protest movement in France, which appeared at the end of 2018 and was named so because of the reflective yellow vests used by participants of the demonstration to identify participants.

Initially, the cause of the demonstrations was the increase in the price of fuel (due to the increase in the price of petroleum products), then the demands of the participants expanded to the resignation of French President Emmanuel Macron. The movement is rapidly gaining momentum, acquiring a political coloring. He is openly supported by several leaders of political parties and political movements. Recently, the movement has gone beyond the borders of France and affected the UK, Germany, Belgium, the Netherlands, as well as the overseas region of France Reunion.

The protests, in which, starting in November, hundreds of thousands of people took part, resulted in riots: acts of hooliganism, vandalism, robbery, which led to the death of several people and numerous arrests.

According to the Ministry of Economics, the protest movement has already caused damage to the French economy in the amount of at least 2 billion euros.

In response to the protests, on December 10, French President Emmanuel Macron announced the introduction of the state of emergency and social status in the country, and also announced that the government was taking a number of measures: raising the minimum wage by 100 euros, exempting the tax from the year’s results, canceling tax on overtime working time, fiscal benefits for low pensions, freezing of gas and electricity tariffs, waiver of environmental tax on motor fuel.

Economists estimate that, in general, the package of measures will cost the treasury about ten billion. In the "yellow vests" circles, many accepted the presidential package with satisfaction, but they do not refuse to make new demands.

December 15, activists of the movement of "yellow vests" are preparing to enter new demonstrations throughout France. Preparations for them were conducted on Friday until late evening in Marseille, in Toulouse, in Lille, in Paris and in other cities.

As it became known, the protest movement creates its own cryptocurrency – GiletJaunceCoin (GJCO), that is, the “coin of the yellow vest”. This is quite a logical step on the part of the protesters who do not accept the dominance of central banks and the government.

The slogan of the website of the new cryptocurrency is the call “we will return ourselves freedom!”. According to the site, the GJCO token is “easy to use and can be used for transactions between participants in the movement of“ yellow vests ”or people who want to support a legitimate battle against the European oligarchy.” The creators of the token note:

“By providing the infrastructure necessary for the widespread use of GJCO, we are helping“ yellow vests ”around the world to create a parallel economic system during the struggle for economic freedom.”

These declarations seem to have something in common with the thoughts expressed in the official declaration of the “yellow vests” movement:

“The decisions of our politicians, who have sold themselves to greedy bankers, have a negative impact on the quality of life and freedom of citizens of European countries, who are increasingly worried about the future of their children and grandchildren. The current European and global banking system, which has been collapsing since the 2008 economic crisis, is close to an inglorious end.

The European powers, with the help of the European Union, are forcing people to finance this “zombie system”, trying to bring the people to their knees. The French, known for their revolutions and courage, initiated a global social protest movement, which will end only when the existing social and economic institutions are completely transformed. ”

It should be noted that it is not yet clear how viable the new cryptocurrency is. Time will tell whether there is real demand for it. As of December 16, the cryptocurrency website is unavailable.

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Wells Fargo will launch stablecoin for internal settlements

Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise. According to a press release, Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens). The company has already tested the concept on transfers from the USA to Canada. The launch of the project is scheduled for 2020 […]



Wells Fargo & Company, an American financial company, will launch Wells Fargo Digital Cash, a pilot blockchain service for internal payments, based on Corda Enterprise.

According to a press release , Wells Fargo Digital Cash will provide almost instant international transfers between company branches using digitized funds (tokens).

The company has already tested the concept on transfers from the USA to Canada.

The launch of the project is scheduled for 2020. Wells Fargo Digital Cash will initially provide dollar payments, but then add support for other currencies.

Recall that previously the largest US financial holding company JPMorgan developed its own stablecoin JPMCoin for making international payments to large customers.

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Wells Fargo is going to present its own stablecoin in 2020



Wells Fargo, the fourth largest bank in the US, plans to introduce its own stablecoin in 2020, which will be used in cross-border transfers.

The press release said that the new Wells Fargo platform will create an international payment network based on distributed ledger technology. With the help of this system, as well as the Wells Fargo Digital Cash asset, payments will be made. The stablecoin being developed will be pegged to the US dollar. Initially, the network will be used for internal calculations, after which it will be integrated with other applications.

Lisa Fraser, representative of Wells Fagro, noted that DLT technology has many options for use, the company believes that it can also be successfully applied in banking. In addition, Wells Fargo Digital Cash is expected to enable the company to overcome barriers that still hindered effective cross-border payments in real time.

As you can see Wells Fargo followed the example of the bank JPMorgan Chase, which also introduced its own digital currency. It is noteworthy that back in July, Wells Fargo forbade customers to use credit cards to purchase cryptocurrency and its use in transactions.

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In the Bitcoin blockchain, a record of the network hashrate and the share of SegWit transactions



is set

The volume of computing power in the Bitcoin blockchain this Monday reached a record value above 104 quintillion per second, according to Smartbit portal data.

The record was fixed after approaching the level of 100 EH / s last week and the subsequent small rollback. Before the current growth period, which began in December and accelerated in June, the previous maximum was fixed at 60 EH / s in October 2018.

As noted earlier, over the past three months , about 600,000 new ASIC miners have joined the Bitcoin network, which has led to a rapid increase in the hash rate .

Last week, another message appeared that the authorities of one of the provinces of China are taking measures to close mining enterprises on their territory.

Also today, transactionfee portal announced another record – the share of transactions in the Bitcoin blockchain using Segregated Witness (SegWit) technology for the first time exceeded 50%.

On the main Bitcoin network, SegWit was activated on August 24, 2017. The technology is aimed at solving the problems of blockchain scalability, transaction plasticity, and also allows you to implement other optimizations. After the jump to 38% last May, the spread of SegWit slowed down and until recently ranged from 40-45%.

Casa Bitcoin developer and CTO Jameson Lopp previously spoke of the proliferation of technology that responded to the congestion of the cryptocurrency network:

"Reducing the demand for transactions, improving algorithms for calculating commissions, distributing SegWit and grouping transactions have led to more efficient use of space in blocks and reduced competition for this scarce resource."

At the same time, the price of the leading cryptocurrency , having shown a steady rise in the first half of the year, has remained in a fairly narrow range over the past months and amounts to about $ 10,000.

Publication date 09/17/2019
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