Inshorts

The Central Bank of Samoa (CBS) has issued a warning against get rich quick schemes and digital currency such as bitcoin. According to news.bitcoin.com, the CBS called for caution and diligent attitude in dealing with such schemes. The central bank has long been concerned about Internet-based scams in the country and urged the public to always conduct independent research before handing over a large amount of cash.

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Chinese miners expressed support for the New York agreement on Activation of Segwit2x. According to news.bitcoin.com, Chinese Bitcoin exchanges and mining companies representing the majority of Bitcoin’s hashing power has supported a new agreement. Barry Silbert, CEO and founder of Digital Currency Group, clarified that Segwit2x actually means the activation of the Segregated Witness (SegWit) protocol and scaling upgrade for Bitcoin. 

Bitfury will create a blockchain data storage system for Ukraine. As reported by news.finance.ua, the Cabinet of Ministers of Ukraine has signed the agreement with the American technology company Bitfury Group on creating a full-scale electronic control system on blockchain technology for Ukraine. The main areas of partnership is the use of blockchain in state registers and services, social security, healthcare and energy sector. It is planned that after the completion of the pilot project the program will be extended to other areas, including information security. 

The Central Mint of China considering the possibility to produce unique tokens that are compatible with the Etherium network. According to media portal bits.media, China and Russia are exploring the potential of the Etherium as a basic protocol for the digital yuan and ruble. According to the Deputy Chairman of the Central Bank Olga Skorobogatova, the future is for cryptocurrencies. The Etherium is becoming an increasingly flexible and functional network, it will allow central banks, such as the People's Bank of China and the Bank of Russia, to consider the possibility of creating serious applications and even national currencies on Ethereum protocol. 

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

United Nations sends aid to 10,000 Syrian refugees. According to CoinDesk, the project run by the United Nation's World Food Programme (WFP) was designed to direct resources to thousands of Syrian refugees by giving them cryptocurrency-based vouchers that could be redeemed in participating markets. The platform was implemented by Parity Technologies, a startup led by ethereum co-founder Gavin Wood, and blockchain big data firm Datarella. In the future, the UN plans to expand the scale of the project, providing assistance to 500,000 recipients from 80 countries from WFP.

EC new perspective on the blockchain. The European Commission (EC) is launching a new blockchain research project focused on non-financial applications of the technology. Called "#Blockchain4EU: Blockchain for Industrial Transformations", the effort will run until February 2018. The goal is to identify areas in which the blockchain and DLT applications can transform EU industrial businesses.

New Chicago Blockchain center receives governmental support. Several Chicago’s largest enterprises have joined forces with the State of Illinois to formally launch a new blockchain center in the Windy City, Coindesk reports. Other founding partners include fintech trade association FinTEx Chicago, the Chamber of Digital Commerce, the Blockchain Education Network and Bloq.

The US Libertarian Party sharply criticized the sentencing of a bitcoin traders. According to Coindesk, Randall Lord and his son Michael were sentenced to prison terms of 46 and 106 months respectively for running an unlawful money transmission. Nicholas Sarwark, Libertarian National Committee Chairman , strongly condemned the government's case and called for the sentencing to be overturned. Lord's sentencing was a recent example of a trend of cases against bitcoin traders in the US, similar to cases in Michigan, New York and Arizona.