Inshorts

Great Britain is looking for ambitious FinTech partners. The United Kingdom is aimed at developing the FinTech industry outside of Europe. In this regard, a delegation was sent to India to develop bilateral relations. The participants include the top management of public and private FinTech organizations led by Philip Hammond the Chancellor of the UK Treasury. During the trip, several commercial agreements will be signed to exchange financial innovations and strengthen cooperation between corporations and start-ups.

An ethereum prediction market project gets ready for public debut. Ethereum development firm ConsenSys incubation project Gnosis will spin off to a separate startup, announcing its token sale, or ICO, set for April 24. The fundraising target is expected to reach $12.5 million. Co-founder Stefan George says now Gnosis is becoming it's own entity. It will still have very strong ties to ConsenSys, but is now a separate company. A prediction market enables users to leverage the unique knowledge by buying and selling shares in the outcome of an event. If the event resolves in the direction they have predicted, they earn a profit, otherwise a loss is incurred. Gnosis enables the creation of these markets on a decentralized financial platform. 

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SibCoin continues to expand to China. Known as Siberian Сhervonets, Russian Dash fork created a Chinese language version of its official website, which opens the gate for China’s crypto-enthusiasts and professional traders alike. SibCoin employs additional encryption algorithms devised by Russian cryptographers. The coin’s adoption has been growing rapidly ever since the first block was mined in May 2015. It was created as a ‘people’s patriotic project’ initially focused on the Russian-speaking cryptocurrency community and is continuously evolving to become closer to people.

Polish government adopted an important document concerning blockchain tech. The Ministry of Digital Affairs of Poland adopted the document as part of the current government program aimed at digitizing data. The adopted act will raise awareness of the risks in the cryptocurrency market and allow Polish local blockchains to be regulated independently. The document contains additional information on how customers should be able to evaluate a given platform regarding its level of financial and technical security.

An important law relating to blockchain has been come into force in Arizona. Doug Ducey, the governor of the state signed the bill 2417, thereby legalizing "smart contracts" and digital signatures created through blockchain technology. Jeff Weninger the representative of the Republican Party and the author of the bill, receiving an overwhelming majority of votes in the Senate of Arizona. In his statement, the author noted that signatures, records or contracts protected through blockchain technology are considered to be full-fledged electronic analogues of official documents. 

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1Hash mining pool is against activation of Bitcoin Unlimited. Relatively new bitcoin pool that obtains around 8% network share, wrote on China's version of twitter that bitcoin unlimited has violated the BTC consensus agreement as of February 21, 2016 in Hong Kong. They say bitcoin unlimited will cause the hard fork, which will result in the split of bitcoin. BU hopes to have larger blocks, which means that a large pool can get more benefits from it, so it is easy to lead to the centralization of Bitcoin mining, the fee will be higher. The team of the mining pool also added that they support a capacity increase, but not a bitcoin’s split.

Swedish government trials to use blockchain in land registry. Swedish land registry authority Lantmäteriet has finished the second phase of testing of the blockchain-based technology for land-titling. The department united with startup ChromaWay, consulting firm Kairos Future and telecommunication company Telia in June 2016. The first phase presented the technology's potential. The second phase involving Telia and two Swedish banks created smart contracts with digital signatures that would automate the transaction on a blockchain. Lantmäteriet's third phase of testing is due to start in May, and will involve additional Swedish public bodies, including the tax authority. The technology is aimed to save $20 billion annually, cut the amount of paperwork, faster transactions and less fraud.

Immediate consequence of the adoption of law on legalization cryptocurrency in Japan. Bic Camera, a retail chain selling electronics will start taking bitcoin as a mean of payment. However, few companies are reluctant to implement innovations. Many of them expressed concern that the government did not provide any guidance for the accontance of cryptocurrencies, which could lead to erroneous assessment and financial losses. The government has already expressed interest in resolving this issue. According to the estimates of the research institute Fuji Chimera, the use of cryptocurrency in Japan by 2020 will amount to more than $10 billion.

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Cryptoforum in Czech Republic. A large-scale event, devoted to cryptocurrencies and implementation of the blockchain technology, will be held in Prague on the nineteenth of May. Followers of decentralized economy along with large entrepreneurs using the blockchain technology in their business will participate in this conference. Organizators, Smile Expo company that has already held a few similar events in Tallinn, Moscow and Kiev, had causes for choosing Prague. Citizens of this European city can already pay the bills in cryptocurrency at local restaurants and shops. 

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