Crypto Flipsider News – July 20th – Digital Yuan, Bank of America, Ethereum Documentary, The ₿ Word, NFT News
- US Senators Offer Ban on Using Digital for USA Olympic Athletes
- Bank of America (NYSE:) Plays in Market
- Cinema Time: Documentary Starring Vitalik Buterin Raises $1.9M in Just Days
- Jack Dorsey, Elon Musk, and Cathie Wood Approved Their Appearance at the Conference Tomorrow
- NFT News: Polygon Studio Launched, Fireworks NFT, Justin Sun
US Senators Offer Ban on Using Digital Yuan for USA Olympic Athletes
Three US Senators urged the US Olympic & Paralympic Committee (USOPC) to forbid American Olympic athletes from using China’s digital yuan during the Beijing Winter Olympics in 2022.
The Senators say digital yuan is entirely controlled, tracked and traced by China’s central bank. On a daily basis, this means that Chinese government will know the full details on users’ habits and daily purchase routines.
“The digital yuan may be used to surveil Chinese citizens and those visiting China on an unprecedented scale, with the hopes that they will maintain digital yuan wallets on their smartphones and continue to use it upon return”, the Senators warned.
The digital yuan project is already at the finish line in China. The country is rolling multiple test programs before it’s official launch before or during the Winter Olympic Games.
- Even innocent pieces of data like purchases can be enlightening for those determined to know more about you. The question is – why do governments gather such data? Since sports have always been linked with politics, let’s not be naive – the upcoming Olympics will not be any exception.
Bank of America Plays in Bitcoin Futures Market
Last week Bank of America approved unannounced Bitcoin futures trading for several clients, reported anonymous insiders. The bank allows trades of Bitcoin futures contracts with US dollars, it will also support further trades via the biggest CME (Chicago Mercantile Exchange) futures trading platform, said the sources.
The second biggest banking institution in the United States, has been cautious on crypto until recently. Days ago it launched a cryptocurrency research team and positively stated on crypto value to developing economies.
- More liquidity is coming to the market, even with the few Bank of America Bitcoin futures traders. There will probably be more futures traders in the months to come. However, higher liquidity has not yet lowered price volatility.
Cinema Time: Ethereum Documentary Starring Vitalik Buterin Raises $1.9M in Just Days
Despite predictions that YouToube would become the replacement for traditional TV, the documentary genre found its second wind with the growth in popularity of streaming services like Netflix (NASDAQ:).
Some independent creators launched a crowdfunding campaign for the creation of a new documentary about the Ethereum blockchain, called “Ethereum: The Infinite Garden.” The goal of 750 ETH was surpassed in three days and the total amount reached 1,035.96 ETH worth $1.9 million later on Friday. So far, 662 people have supported the project.
The premiere will happen in winter 2023, and the film will feature VItalik Buterin, the creator of Ethereum. Also, the creators dropped a series of Infinite Garden NFTs for the sake of project promotion.
- Finally, filmmakers are filming something except Bitcoin. Did you notice how many films we have on it? I counted at least 10!
Jack Dorsey, Elon Musk, and Cathie Wood Approved Their Appearance at the Bitcoin Conference Tomorrow
“The ₿ Word,” a Bitcoin-centred conference will take place tomorrow, July 21 at 9:00 am PDT, (12:00 pm EST). As it was announced previously, the anticipated debate between Jack Dorsey and Elon Musk is scheduled to go ahead; Cathie Wood, the CEO of Ark Invest will also join them. The other announced speakers are the main people of such projects as Square Crypto, OKCoin, Chainalysis, MIT Digital Currency Initiative, Blockstream, and others.
- As it’s a solely Bitcoin-centred conference, we won’t observe such precedents as a Dogecoin fan running on the stage shouting his favorite coin to reach the moon or the well-known Bitconnect ponzi promotion. Let’s hope that the debate will be entertaining, at least.
NFT News: Polygon Studio Launched, Fireworks NFT, Justin Sun
- Polygon has launched Polygon Studios to advance the blockchain gaming and NFT industry. The Ethereum-scaling project embarks on bridging the gap between Web 2 and Web 3 gaming. Hence, Polygon is looking to attract top brands, celebrities, and IP owners and launch their NFTs and marketplaces.
- Internationally acclaimed firework artist Cai Guo-Qiang has officially set foot into the world of NFT. Cai has created his first NFT project, Transient Eternity—101 Ignitions of Gunpowder Paintings. He auctioned his artwork for $2.5 million. So far, this is the biggest sale of an artist’s NFT work in the non-encrypted field.
The artwork drew the attention of various collectors, including TRON Foundation founder Justin Sun. He repeatedly bid and offered a price of US$ 2.2 million during the auction.
The project commissioned by Shanghai Bund Art Museum lasted 48 hours. The artworks will be on view from July 14–August 14, 2021, at TR Lab (trlab.com), a platform partnering with RAM in the discovery of NFT art from the world’s leading artists.
- Even though Polygon Studios aims for highs, its endeavors might take a while to demonstrate success in the field.
- Half of the proceeds from the auction were given to the Shanghai Bund Art Museum to support future developments and its digital art research program. Unknown possibilities of digital art still remain. The core concept of how value is stored is very unclear. Who knows if untouchable art merged with digital NFT art will work?
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