Report

Although pilot tests for the digital Yuan have been launched and are happening progressively across four large Chinese cities, the governor of the Chinese Central Bank in a recent report by Xinhua news claimed no official date had been set for the launch of the long-awaited project.

The market for identity authentication management using blockchain and distributed ledger technology (DLT) is likely to grow to around $11.46 bln by the year 2026 – just six years from today.

As stablecoins gain momentum all over the world, financial regulators and banks insist that a flawless regulatory structure be prepared before approving global stablecoins, alluding to risks and gaps in the existing guidelines. Stablecoins need to prepare for preemptive regulations.

Recently, fake rumours spread that Harry and Meghan are becoming financially independent, and trading platform “Bitcoin Evolution” is helping them to achieve it. This scam adds on to other fraudulent activities that already took place during COVID-19.

Let’s analyze the objective and most interesting legal issues in the field of blockchain technology, particularly smart contracts, based on a report dubbed "Smart contracts: A legal analysis", published by the Blockchain & Distributed Ledger Observatory of the Politecnico di Milano. Also, the responsible authorities in Italy will discuss this report on Friday 17, 2020.

Current market events are strongly indicating that the ethereum network will see massive growth this year. According to a recent report, the active number of users on the ethereum network doubled in period of just five months. Speculators claim that cryptocurrency could gain mainstream usage this year.

From research recently carried out by a LinkedIn branch dedicated to training, blockchain and distributed ledger technology (DLT) will be the most requested hard skill this year (2020).

The government authority of Italy responsible for regulating the securities market, Consob, recently established rules, definitions and criteria for cryptocurrency and initial coin offerings (ICO) in a document that defines the outcome of the public consultation. Consob has published on its official website the final report on the initial offers and exchanges of crypto-activities.

A new Crypto ATM review has indicated that the number of Bitcoin ATMs globally increased by more than 56 percent in 2019. According to the same report, the number of new Bitcoin users did not vary significantly from the 2018 figure. Experts believe that the rate at which new people join bitcoin is somewhat stagnant.