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Crypto & Blockchain Recap: 4rd December, 2018

The world of crypto and blockchain moves fast. Blink of an eye, and we see a whole new state of this world, rather it is the prices or other developments overall. Here is the recap of some the recent happenings of this world.

Crypto Rebellion? 

There is a crypto-centric center in Slovakia that goes by the name of Paralelni Polis. The aim of this centre is to focus on the liberation of people from state control using decentralization technologies.

In today’s world, the traditional financial system is highly centralized with the states being largely in control. Cryptocurrencies open up new horizons for the world as its decentralized nature takes away the intervention of a third party and the users can directly come in control themselves.

Talking to Coindesk, the co-founder of the centre Pavol Luptak suggested that the centre considers cryptocurrencies as a liberation tool. He also called the centre a think tank for freedom.

This does not come off as surprising news as the idea behind cryptos is removing the dependence on third parties. Let’s see how many ideas does this centre cook up.

What’s Up With Ping An?

The Chinese insurance giant that goes by the name of Ping An and maintains eTradeFinance blockchain is now modifying its platform so that the banks involved in the framework are given more control over their customers.

As opposed to a central site, users will now have to sign up to the platform using the web portals provided by member banks. Some of these banks include HSBC, Standard Chartered and BNP Paribas in Hong Kong.

The aim of the platform is to provide secure financing to the customers more easily alongside keeping a check on the amount that can be borrowed, which should not more than their credit lines, by going through multiple banks.

Crypto Custody

The aspect of institutional custodians entering the crypto space has remained the topic of discussion for quite some time now. But one of the world’s most well-renowned custodian does not seem to think that there is a need to hurry into this space just yet.

The managing director of State Street recently stated that the firm’s clients were not interested in digital assets’ custody just yet. He implied that the direction of the firm is defined by its clients. As there are no clients hurrying towards the aspect of keeping digital assets in custody, the firm is also not in any hurry to move towards this space.

While this is happening on State Street’s end, groups like Coinbase, Fidelity Investments and BitGo are looking forward towards offering custody solutions for crypto assets to their customers.

SEE ALSO: Crypto & Blockchain Weekly Recap: 3rd December, 2018

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Ahsan Khalid

News editor of BlockPublisher, an electrical engineer with majors in software development. Ahsan takes the engineer's approach for reporting legislation around the blockchain industry. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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