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Digital Economy:
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Litecoin wants to issue Debit Cards

13 April 2018  |    694

The startup TenX will develop debit cards for Litecoin. This was confirmed by Charlie Lee, Litecoin’s creator. Support for the TenX mobile wallet has been added for LTC tokens, and this was done without any prior notification. The company has stated that they wanted to try out a new option on a small group of users.

Note that yesterday, Litecoin had been outranked from the top 5 cryptocurrencies, however now it has regained its position.

The Australian IOT Group is restarting its operations at the Radbank coal power plant, in order to reduce its electricity cost increased by the introduction of Blockchain-related developments into its activities. The company expects that as a result, costs will decrease by about 20%.

In addition, in the last few months, two experienced miners have been added to IOT Blockchain’s advisory board, which indicates that the company has serious intentions regarding crypto-mining.

The company owned by the Winklevoss twins, the founders of the Gemini crypto-exchange, received a patent for a system that enhances the security of digital transactions. In a patent application filed last November, it is stated that the invention is a "system, method and software product for processing secure transactions in the cloud computing system."

While it is not stated directly, many believe that the new system can be implemented at Gemini. As of today, Winklevoss IP, the legal entity controlling the patent, holds several trademarks and five patents.

In Zimbabwe, the country's first bitcoin-ATM has been installed. The device, which operates with Bitcoin and Litecoin - was installed by Golix in the business center of Harare, Zimbabwe’s capital. While the ATM's working hours are limited - from 8 am to 5 pm, Golix plans to have it working around the clock.

For locals this is an important event, because in fact, cryptos are the only real currency, despite the absence of its official recognition. The reason for this is a record inflation and a shortage of both local cash and US dollars, which can often be bought only on the black market.

Blossom published a study about Bitcoin and Islam. Its authors were Matthew Martin , founder of the start-up Blossom Finance and Mufti Muhammad Abu Bakar. The study contains an analysis of legal opinions regarding the Islamic banking and Bitcoin.

The main conclusion is that Bitcoin can be qualified as Islamic money, if not prohibited by local governments. But ICOs are, according to the document, very vague and not recommended to Muslims. Some believe that this study may cause a Bitcoin price rise.

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