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Crypto Flipsider News – August 17th – Chainlink and Harmony, Microsoft and Alibaba, LGBTQ and Black Americans, Spanish Watchdog, Afghanistan and Bitcoin Maxies

  • Chainlink’s price feeds now go on Harmony. 
  • Microsoft, Alibaba, Carnegie Mellon University to build blockchain anti-piracy system.
  • LGBTQ and Black Americans turn to crypto to escape financial discrimination.
  • Spanish regulator warns 12 financial entities, with Huobi and Bybit among them. 
  • Crypto maxies speculate that Bitcoin could save Afghanistan’s people. Could It Really?

Chainlink’s Price Feeds Now Go on Harmony  

Recently, Harmony and Chainlink announced the Price Feeds are to be integrated into Harmony’s testnet. Chainlink’s Price Feeds are the bond between the network’s smart contracts and the ‘real’ prices of the world’s assets. 

As Harmony grows its DeFi ecosystem, based on cross-chain Ethereum applications, the entire system will have access to Chainlink’s oracle solution. Oracles are the intermediaries between real world data and the system’s smart contracts. Thus, they can translate the data to the blockchain and back again. 

Flipsider:

  • Chainlink is one of the humblest crypto projects out there. When they make claims about their numbers of 1.4 client onboardings per day in 2021, they get criticized about the quality. Meanwhile, truly good integrations remain unnoticed. 

Microsoft, Alibaba, and Carnegie Mellon University to Create Blockchain Anti-Piracy System

The United States and China’s researchers have joined forces to fight online piracy. U.S. software giant Microsoft and China’s internet giant Alibaba are set to develop an anti-piracy system named Argus on the Ethereum network.

Transparency and credibility of collected data have long been the biggest issue in anti-piracy initiatives, as such data is gathered from open anonymous sources. 

Blockchain-based Argus will allow content tracking to the original source. Both Microsoft and Alibaba expect it will be more transparent and effective than current anti-piracy initiatives. 

Flipsider:

  • Microsoft is a constant victim of software counterfeits. In 2018, Microsoft’s former CEO stated that only 1% of Chinese companies pay for Microsoft software, while 90% of them use it.  

LGBTQ and Black Americans Turn to Crypto to Escape Financial Discrimination

Black and LBGTQ Americans are more than twice as likely to invest in crypto than white Americans, according to a survey provided by Harris Poll.

Marginalized communities reportedly feel like they can finally build wealth outside of the institutions that often excluded or exploited them.

23% of Black Americans, and 17% of Hispanic Americans are currently invested in digital assets, while only 11% of white Americans have invested. The general public had 13% participation, and LGBTQ respondents hit the highest percentage at 25%.

The poll also found that minority groups, Black Americans, Hispanic Americans, and Asian Americans, tend to have higher cryptocurrency awareness.

It can be gleaned from this that the increasing popularity of crypto amongst minority groups is due to the fact that 43% of Black Americans and 39% of LGBTQ persons believe they have not been treated fairly by the banking and loans industries, hence their embrace of the alternative option to explore decentralized assets.

Flipsider:

  • It looks like the vision of many cryptocurrency founders, to create a decentralized system and bring about equality, is coming into effect. After all, what better than to have an alternative option to escape injustice?

Spanish Regulator Warns 12 Financial Entities, with Huobi and Bybit Among Them

The National Securities Market Commission of Spain has released an official document, issuing warnings to 12 financial entities, including Huobi and Bybit, which stand out as the two most interesting to us. Among the others are crypto exchanges, trading platforms, and even a crypto token issuer. 

The regulator declared that the companies are not authorized to provide investment services within Spain. They cannot officially ban the entities, only proceed further to the court in the case of disobedience. 

Flipsider:

  • This year has not been so DeFi positive for Spain. It seems like the country’s government has become stricter since the Spanish quarantine’s crypto boom.  

Crypto Maxies Speculate that Bitcoin Could Save Afghanistan’s People. Could It Really?

Flipsider:

  • Afghanistan has one of the smallest economies in the world, with 90% of the population living on less than $2 a day. Afghanistan’s education system has been devastated by decades of war, and only around 35% of Afghanistan’s people have access to electricity.
  • Cryptocurrencies could indeed be a viable solution for people under regimes or politically unstable systems, but for countries at war? We’re not so sure.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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