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On the island of Big Ussuri will make a cryptocurrency offshore for Russia and China

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A new financial center, where activities related to cryptocurrency will be conducted, may appear on Bolshoy Ussuriysky Island on the border of Russia and China. This statement was made by Leonid Petukhov, head of the Far East Agency for Attracting Investments and Export Support (API), reports TASS.

“We want to make a big financial center there. Figuratively speaking, cryptocurrency, cryptobirge, forest trade exchange – in a good way, domestic offshore. What they did in Kaliningrad, ”he said at the St. Petersburg International Economic Forum (SPIEF).

According to Petukhov, it will be convenient to open such a center on Bolshoy Ussuriysky Island, since it belongs to two countries.

Information: Big Ussuri Island is located on the Amur River, along it lies the border between Russia and China, part of the island is included in the city limits of Khabarovsk. Since 1964, the territory has been disputed by the PRC. In 2004, an agreement was concluded and ratified in 2005 on the transfer of the People's Republic of China to the western part of the Bolshoi Ussuriisky, the whole of Tarabarov and some small islands.

On October 14, 2008, at the end of the demarcation of the Russian-Chinese border, the neighboring island of Tarabarov and part of the Big Ussuri Island were transferred to China.

Currently, special administrative districts with favorable conditions for international companies are being created on Russky Island in Vladivostok and Oktyabrsky Island in Kaliningrad. Their residents are fully exempted from income tax in the form of dividends and income tax on the sale of shares of foreign companies.

In April of this year, the Ministry of Economic Development of the Russian Federation announced plans to create regulatory sandboxes in the Kaliningrad and Kaluga regions, in the Perm region, as well as in Moscow. It is assumed that they will be tested innovative technologies that do not yet fall under the current legislation in the Russian Federation, including cryptocurrency and blockchain .

Publication date 10.06.2019
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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 […]

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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

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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

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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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Name Price24H (%)
Bitcoin (BTC)
$10,201.00
-0.22%
Ethereum (ETH)
$211.78
7.48%
XRP (XRP)
$0.300624
15.45%
Bitcoin Cash (BCH)
$323.07
5.40%
EOS (EOS)
$4.09
1.43%
Stellar (XLM)
$0.065113
11.50%
Litecoin (LTC)
$75.52
4.47%
Cardano (ADA)
$0.050740
7.84%
Tether (USDT)
$1.00
-0.16%
Monero (XMR)
$74.51
-0.42%
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