On the evening of June 5丨news that Bitcoin and cryptocurrencies may someday become alternative means of payment丨the head of HSBC Bank: digital islands affect the sound development of blockchain trade


Quotes brief news
The BTC price has increased by 1.73% over the past 24 hours, tentatively reporting at $7623.
The ETH price has increased by 2.5% over the last 24 hours, tentatively at $610.
The XRP price has increased by 2.66% over the past 24 hours, tentatively reporting 0.6768 USD.
The BCH price has increased by 3.75% over the past 24 hours, tentatively reporting $1147.
The EOS price has increased 4.19% over the past 24 hours, temporarily reporting $14.07.
The DGD price has fallen by 5.62% in the past 24 hours and temporarily reported at 156.69 USD.
Surprisingly, the virtual currency is the iExec RLC with a market capitalization of 104. It rose 7.30% in 24 hours and provisionally reported $1.68.

1. Ethereum is the most decentralized blockchain platform
According to BTCmanager, citing the technology blog ConsenSys, Ethereum is the most important developer community in all digital currency projects. About 250,000 developers work on this platform. The download of the Ethereum Development Framework in October 2017 exceeded 200,000 times. Ethereum has blockchain tokens for many industries. For example, dentacoin is a review platform for the blockchain concept developed for the global dental industry. The gifto protocol allows the creation and exchange of virtual gifts based on smart contracts and blockchain technology, creating a decentralized consumer-driven virtual economy system.

2. The Ministry of Finance of Vietnam proposed to temporarily ban the import of encrypted mining equipment
According to cointelegraph, citing VN Express, the Ministry of Finance of Vietnam has proposed a temporary comprehensive ban on the import of hardware for cryptocurrency mining. According to reports, the Ministry of Finance proposed the proposal on Monday, saying that the cryptocurrency mining hardware can be used to launch new cryptocurrencies that are "very difficult to manage." Data from the Ministry of Finance shows that in the first four months of 2018, more than 6,300 mining machines were imported into Vietnam. Compared with the 9300 miners in 2017, Vietnamese customs noticed a huge increase. By the way, Venezuela has banned the import of cryptocurrency mining equipment.

3.IMF report: Bitcoin and cryptocurrencies may someday become alternative means of payment
According to btcmanager, the document released by the International Monetary Fund (IMF) on cryptocurrency in June showed that bitcoin and other cryptocurrencies pose a severe challenge to the central bank’s dominance in global monetary policy and may one day become an alternative. The payment means, and may lead to a decrease in the demand for legal currency or central bank funding. The report pointed out that as the use of cryptocurrencies grows, their volatility may decrease. With the improvement of fortune-based rules such as artificial intelligence, its valuation may become more stable. In addition, cryptocurrencies have not won the trust of people because of fraud, security breaches, and operational failures. However, value-based or token-based payment systems are the future of finance, and banks must explore these methods in order to maintain competition with cryptocurrencies. Payment type currency: bitcoin, bitcoin cash, pundi-x.

4. Head of HSBC: Digital islands affect the healthy development of blockchain trading
According to Vinay Mendonca, head of HSBC, there are two diametrically opposed trends in DLT. The best scenario is that DLT technology with data standards and interoperability will help global trade seamlessly, but if there is not one With well-established standards and good interactivity, blockchain trade will develop in the worst direction, forming “digital islands” that are closed to each other. Therefore, the formation of a complete data standard and good interactivity by DLT is crucial for the healthy development of blockchain trade.

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