Video Digest, April 20: NASA Initiates Blockchain Research, Kraken to Quit the Japanese Cryptocurrency Market, Lithuania to Allow Virtual Limited Liability Companies, Christine Lagarde Supported Cryptocurrency

Apr 20, 2018 at 11:35 // News
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Coin Idol
Video Digest, April 20

Coin Idol TV News channel broadcasting a new video digest on April 20. Today in our digest: NASA initiates Ethereum blockchain technology research for space communications and navigation, Kraken set to quit the Japanese cryptocurrency market, Lithuania plans to allow the activity of virtual limited liability companies, IMF Chief Christine Lagarde has supported the implementation of cryptocurrency.

NASA Initiates Ethereum Blockchain Technology Research for Space Communications and Navigation

The National Aeronautics and Space Administration (NASA) in collaboration with the research University of Akron (UA) in Ohio, USA, just commenced a new research program that will investigate practical applications of Ethereum-based blockchain technology for space communication and navigation.

The use of Ethereum blockchain technology will be a huge advantage to the aerospace industry. It’s one more application with concrete results from a research project that will be added to the collection of use cases illustrating blockchain technology as the 21st-century ground-breaking invention.

Kraken Set to Quit the Japanese Cryptocurrency Market

Cryptocurrency exchange Kraken, with headquarters in San Francisco, announced on Tuesday, April 17, that it has stopped its activity on the Japanese financial market because of the high operation cost there. However, the company hinted it could come back, with Japan being one of the world’s biggest bitcoin trading centres.

The released statement explained that only those who currently live in Japan will be affected by this update. Japanese citizens or companies operating outside the borders of the country will have no problems using the fintech platform.

Lithuania Plans to Allow Activity of Virtual Limited Liability Companies

Virtual Limited Liability Companies (VLLCs) working on blockchain technology will be launched in Lithuania. The country considers the possibility of allowing entities from different parts of the world to register and operate their fintech companies there. A draft has been already processed by the Lithuanian Centre of Registers.

Such blockchain-based VLLCs will get an opportunity in an environment that looks like a sandbox that ensures freedom of action and guarantees the security of each foundation related to the financial technology. Furthermore, all companies can be remotely managed, as every transaction will be conducted via the blockchain tech behind cryptocurrencies.

IMF Chief Christine Lagarde Has Supported the Implementation of Cryptocurrency

Fluctuations in the cryptocurrency market continue to happen. Bitcoin’s price, as well as other cryptocurrency prices, have recently increased. The move is seen as a result of IMF boss Christine Lagarde’s new perspective on the blockchain technology behind digital currencies.

The head of the International Monetary Fund (IMF), Christine Lagarde, who earlier stated crypto coins were dangerous, as they can be used for money laundering or terrorist financing, softened her position. In her blog on the official website of the IMF, she expressed confidence in the benefits of trading coins and the prospects of blockchain technology. Christine Lagarde also noted that the financial technology enabled a quick and cheap transfer of any amount of money and foreign transfers could be conducted in seconds.