Crypto News Recap: Bitcoin Plummets 15%, Pornhub Accepts Crypto Payments

Published September 7th, 2020 - 06:30 GMT
Crypto News Recap: Bitcoin Plummets 15%, Pornhub Accepts Crypto Payments
Bitcoin's price slid from $12 losing 15% of its value in the span of four days. (Shutterstock)
Highlights
Here are the markets highlights for the week

In the past week, the flagship cryptocurrency, Bitcoin, went through a price correction. Trading today at $10,183, Bitcoin's price slid from $12,000 losing 15% of its value in the span of four days as you see in the 7-day chart below. Some analysts believe that the value of the US dollar plays a huge role in the Bitcoin's value; the stronger the dollar, the weaker the Bitcoin.

The University of Dubai Publish e-Credentials of graduates on blockchain platform

 The University of Dubai announced the success of publishing e-credentials of graduates on a tamper-proof blockchain certificate platform.

This Shahada initiative was part of the UAE's Blockchain Strategy. According to the announcement, the platform published over 2,000 graduates’ e-credentials on the blockchain platform so far. Using blockchain technology will 'reduce operational and production costs for issuance and verification of certificates', the website says.
Bank of England Governor Calls for Global Crypto Regulations
The governor of Bank of England, Andrew Bailey, said that the world needs global unified regulations for stable coins. In his published speech, Reinventing the Wheel (with more automation), at Brookings Institution’s virtual event he states that authorities and regulators must go back to “innovation in payments, particularly in the area of so-called digital currencies, developed to offer new forms of “money”.


Bailey compared stablecoins to bitcoin, saying that he thinks that bitcoin is “unsuited to the world of payments” because of its fluctuation. Unlike Bitcoin, Stablecoins can ‘reduce frictions in payments, by potentially increasing the speed and lowering the cost of payments (particularly if global stablecoins were to be established)’, he argues. Also, he hinted that the BOE might consider exploring the idea of launching a Central Bank Digital Currency (CBDC).

Pornhub Adds Bitcoin, Ethereum, and Litecoin as Methods of Payment

Pornhub website announced in a tweet the fact that they now accept Bitcoin (BTC trading at $10,175), Ethereum (ETC trading at $344.09), Litecoin (LTC trading at $47.54) as methods of payment for premium content:

South Korea to Use Blockchain-Powered ID System
In a big step towards becoming more crypto-friendly, the South Korean government announced a new mobile blockchain-based employee ID system by the end of October.
According to YonHap, the system will be used also for “book lending and cafeteria use, and rewards for excellent employees are provided through KISA coin (tentative name), etc., and payment for office supplies, refreshments, and beverages”.

New Blockchain-Based App can Help you Travel Safe In the Pandemic Era

No one can deny how many challenges COVID-19 brought upon our already troubled world, but in every crisis lies an opportunity. This startup was inspired by the pandemic's challenges to come up with its new ICC AOKpass app.

According to the website, the app ICC AOKpass provides you with a digitally authenticated, secure, and portable copy of your medical records, approved by a medical professional and accessible only by you. So this will allow users to instantly verify their COVID-19 compliance status anytime, anywhere, and share them with the authorities in just a click!

Crypto Market Cap:

 Source: coinmarketcap.com

Events to Keep An Eye On:

FinnoSec Africa 2020 (Sep 08, 2020 - Sep 09, 2020) Nairobi, Kenya

Block Sec 2020 (Sep 17, 2020 - Sep 17, 2020) Georgia, United States


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