Despite the bloodbath and the negativity the crypto markets witnessed last week, in this week’s Crypto News Recap, I’ll focus on counting our crypto blessings snatching victory from the jaws of the Bears!
Just like Uptober and then Moonvember, El Salvador has stacked another 150 Bitcoin as BTC plummeted below $50k.
El Salvador just bought the dip! 🇸🇻— Nayib Bukele 🇸🇻 (@nayibbukele) December 4, 2021
150 coins at an average USD price of ~$48,670 🥳#Bitcoin🎄
And while Jack Dorsey left Twitter, the social media giant that he co-founded, crypto fans are super happy as everything indicates that he'll be focusing more on Bitcoin.
On the regional front, things are looking even better, as Dubai Police is exploring the use cases of blockchain and crypto in the law enforcement field with new courses, while the Kuwaiti Central Bank has gone from "don’t invest or trade-in crypto" to "Hey! Please don’t trade ignorantly in crypto!"
Corruption-impoverished Lebanon is implementing the country’s first Blockchain-enabled MediTrack pharmaceutical medicine platform.
The first truly digital coin's price is trading at $48,059 at the time of writing. Bitcoin’s dominance is 40.93%, an increase of 0.77% over the day.
Cryptocurrencies are mostly trading in the red zone after a long week of plummeting prices. The global crypto market cap is at $2.22 trillion, decreasing 4.82% from yesterday.
While the overall market volume over the last 24 hours is $114.85 billion, increasing 21.98%.
Dubai Police to Launch Crypto Course
Dubai Police has signed a 3-years Memorandum of Cooperation with The Institute For the Future (IFF), and the University of Nicosia (UNIC) to launch courses about Blockchain and Cryptocurrencies studies and practical application of the technology in the law enforcement field.
The courses, which will be developed by UNIC’s leading MSc in Blockchain and Digital Currency, will be offered either on-campus or online. The memorandum will also see the IFF developing and holding educational events such as webinars and workshops specifically for the Dubai Police.
Lebanon Deploys First Phase of Blockchain-enabled MediTrack
The Lebanon Ministry of Public Health has rolled out the country’s first Blockchain-enabled MediTrack pharmaceutical medicine platform which will be used in the first phase to track medicine for Cancer and chronic illness patients with costly treatments.
With the help of the Bahrain-based MVC Blockchain solution provider, the Ministry of Public Health’s MediTrack system will integrate with national producers thus helping Lebanon in the implementation of the system known as Lebanon Traceability Hub. The Hub aims at lowering the cost of drugs, providing patients with only authentic and safe medications, combating counterfeiting and drug smuggling, ensuring access to pharmaceuticals subsidized by Banque du Liban, the central bank of Lebanon, and preventing the build-up of medicines.
Central Bank of Kuwait Initiate Cryptocurrency Awareness Campaign
In a partnership with the Capital Markets Authority (CMA), The Central bank of Kuwait has launched a literacy campaign that targets raising awareness about trading in crypto assets. The CBK Governor, Dr. Mohammad Y. Al-Hashel, commented:
“The campaign reflects social responsibility towards the public, and aims to raise awareness of the risks associated with crypto assets due to their sharp price fluctuations, and the fact that they are not subject to any regulatory authority in Kuwait, exposing speculators to large losses and fraud”.
Dorsey's Square Rebrands to Block to Focus More on Blockchain
Just in less than a week after stepping down from his role as the social media giant board, Twitter’s co-founder and former CEO Jack Dorsey is sparing no time. Dorsey’s crypto-friendly payment firm Square has rebranded to Block, a name that strongly hints that the crypto advocate is shifting focus to the blockchain sector.
The rebrand will see the joining of Square together with Cash App, the decentralized Bitcoin exchange project tbDEX, as well as the music and video streaming platform Tidal, Square Crypto, the cryptocurrency-focused subsidiary of the Block, will be renamed Spiral.
Blockchain World (15-17 December 2021)
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