all right welcome back everybody to altcoin 
daily my name's austin in today's video i want   to share with you some massive news involving 
cryptocurrency including bitcoin including   ethereum including altcoins things you need to 
know as a crypto investor like always check the   timestamps down below in the video description 
click subscribe join us on a road to 1 million   and let's jump in first piece of major news cuba 
has announced they will recognize and regulate   cryptocurrency check this out cuba's government 
said thursday in its official gazette that it   would recognize and regulate cryptocurrencies for 
payments in the island nation the country central   bank said friday it is drafting legislation to 
regulate cryptocurrency in commercial transactions   and to issue licenses for providers of services 
connected with virtual assets guys this is a   little piece of history this is a huge domino 
that just fell and essentially what this means   is you're not going to be able anything you 
can do with cash in cuba you can now do with   cryptocurrency you can pay your taxes you could 
buy a loaf of bread at the store and if you go   in and you say to the cashier i want to pay in 
bitcoin they legally country-wide rules have   to recognize it and accept it and why are they 
doing this of what benefit is this to them well   since the trump administration toughened embargo 
rules as well as president biden has increased   pressure on cuba's government it has been harder 
for citizens to use u.s dollars for purchases   basically they're saying that since 
the traditional system has failed them   push them out the traditional u.s financial system 
they're going crypto because cryptocurrency is   digital and not tied to any country or government 
tech savvy cubans could use crypto to evade   government regulations uh so we will have to see 
how the us reacts to this how far this gets i   mean bullish or bearish i obviously would have to 
lean bullish but please you let me know down below   and obviously they're also not going to accept 
every cryptocurrency probably definitely bitcoin i   would guess if they're going a second and a third 
an ethereum and a light coin but we will have to   see which cryptocurrencies they legally recognize 
i'll keep you updated and next up speaking of   adoption news el salvador readies their bitcoin 
rollout with over 200 atms for conversion   so we know that el salvador legalized bitcoin 
in their country just a few months ago and the   rollout is happening now el salvador has begun 
installing bitcoin atms allowing its citizens to   convert the cryptocurrency into us dollars and 
withdraw into cash as part of the government's   plan to make the token legal tender the 
government will install 200 of the teller machines   to initially accompany its digital wallet called 
chivo a local saleem term for cool and to me   my initial thought was 200 machines for a whole 
country doesn't really sound like a lot but number   one this is just the initial rollout number two 
the atms will be accompanied by bank branches   as well and number three there will be no fees on 
transactions from these machines the president of   el salvador said on twitter transactions will be 
commission free he added that there will also be   50 financial branches across the country for 
withdrawing or depositing money it is crazy   how fast things are moving and how much adoption 
is skyrocketing for cryptocurrency in september   here are the hundreds of atms right here ready 
to roll out in el salvador i'll keep you updated   next up i want to talk about ethereum i want 
to talk about solana and i want to talk about   microsoft microsoft has just won a us patent for 
a ledger independent token service so microsoft's   new device is designed to allow developers to 
write code for managing tokens in a manner that   is blockchain agnostic meaning that microsoft 
may be building a cross-chain interoperability   hub for all these different blockchains at least 
they're getting the patents filed back in 2019   but just granted today the patent describes a 
ledger independent token service or a software   service enabling individuals and organizations 
to create and manage tokens across multiple   distributed ledger networks and platforms 
examples of such platforms in the patent filing   include major blockchain platform ethereum ibm 
backed hyperledger fabric jp morgan's enterprise   blockchain platform quorum r3 chorda and chain 
core so notice that other than ethereum every   other example they list in their patent are highly 
centralized block chains microsoft is probably   making something highly centralized for these 
block chains in the patent the described computer   system aims to provide the user with one or more 
token templates with each of those corresponding   to a type of physical or digital asset the ledger 
independent token service is designed to act as a   single interface for managing the life cycle of 
tokens across multiple blockchains so they'll   provide you with templates to make token creation 
much more efficient and it should be cross chain   it should be good with multiple blockchains 
give me your thoughts on this down below   as a reminder with microsoft last year the tech 
giant filed a patent for a cryptocurrency system   enabling individuals to mine crypto using their 
body activity data in an effort to remove the   need for specialized mining devices so instead 
of using machines they would use humans to mine   cryptocurrency we covered this last year and thus 
far the patent for that has just only been filed   this patent has been granted is microsoft 
enslaving humans give me your thoughts down below   next piece of news from yesterday involving a bug 
in ethereum the ethereum chain split due to a bug   devs urging users to avoid any eth transactions 
the ethereum network had a split due to a bug in   the old version of geth approximately 54 percent 
of the network nodes split from the main net   first off i want to say there is nothing to 
worry about they caught the bug in time nothing   outrageous happened but here were the details 
there was a bug afflicting a prior version of geth   meaning that nodes running the old client are 
being barred from the main network this could have   led to the possibility of a double spend and lost 
funds for those using the network luckily a double   spend didn't happen it was caught but that was the 
fear and by the way guys this is the beauty in a   sense of a decentralized network meaning the nodes 
have to be in agreement with the miners have to be   in agreement with the developers and then when the 
community saw certain nodes yesterday acting up   obviously they saw the problem the community came 
together came to consensus and chose the healthy   chain for example the miners most miners were 
mining the current version which had no threat   of hard fork but ethereum developer tim baiko 
did suggest that certain mining pools flexpool and binance pools have been mining on the 
old unsecured version and timbago said guys let's   all get on the healthy version and in general i do 
want to say again there was nothing to worry about   because they did catch the bug in time people 
updated their clients but let this be a reminder   that tech especially tech that is actively being 
developed you know things happen all right next up   let's talk about solana as well as the solana 
ecosystem and lower cap altcoin burnt finance   burnt finance is from the same team that brought 
you burnt banksy made national headlines they   are a fully decentralized auction protocol on 
solana and they just made a major announcement   excited to introduce the solana nft alliance 
site seoulnft which has the goal   to help create a common nft standard on solana 
while gearing up the network for mass adoption   and by the way it's one thing to say something 
like this but what i noticed is they're actually   getting the members actually here is the site 
right here forming the solana nft alliance to move   towards a common standard for solana contracts and 
here are the alliance members at least the initial   30 plus so for those betting big on the solana 
ecosystem you like this some of the nft standards   they're trying to implement on solana have the 
artists in mind the standard introduces the   concept of royalty for nft creators ensuring 
artists can continue to earn on their work in   perpetuity now they have this on ethereum as well 
as other chains as well but i guess they're just   trying to make this a standard on the solana 
chain number two the concept of additions can   also be implemented into the metadata artists and 
creators can issue several editions of their work   creating interesting possibilities for revenue 
generation and iterations upon previous work   they also talk about master editions and much 
more but again i guess the coolest thing to me   was the number of members they're getting to 
say yes to join this alliance to benefit the   savannah ecosystem interesting stuff i'll keep 
you updated all right that is the video my name   is austin see you tomorrow and by the way little 
announcement for the channel aaron and i will be   spending time with our family tomorrow so 
we won't have the regular scheduled video   but we do have a an interview that we prepared 
we did an interview with bitboy on v chain   specifically dropping tomorrow get excited and the 
regular news comes back for monday see you then

You May Also Like