Hello, dear community members! #MetaHash team is ready to present you the fresh release of our regular series #MetaNews! Check out the three most interesting news of the week:
Ohio ‘appears’ to be first US state to accept bitcoin for taxes
The story:
The U.S. state of Ohio is poised to become the first state to accept Bitcoin as the tax payment.
Details:
The move initially applies only to businesses, with plans to extend the offering to individual taxpayers in future. Ohio-based businesses will be able to register to pay all of their taxes in the leading cryptocurrency. The payments are reportedly set to be processed via crypto payments service BitPay.
Why it is important:
State Treasurer Josh Mandel said that the new law will strengthen Ohio’s reputation as one of the most technologically advanced regions of the United States.
UK financial regulator to investigate non-complaint crypto businesses
The story:
50 UK cryptocurrency companies are suspected of providing unlicensed financial services.
Details:
The UK financial regulator has doubled the number of cryptocurrency-related businesses which are inspected over unlicensed operations. According to “Moore Stephens” partner Andrew Jacobs, their growth is associated with a general fall in cryptocurrency markets in 2018.
Why it is important:
Due to the fall in prices, huge sums were lost, that triggered for the growth of complaints against FCA. With price collapses, fraudulent activity is likely to be exposed, with greater pressure coming to bear on the FCA to ensure that this market can operate transparently and fairly.
Hong Kong’s 2nd largest terminal operator adopts blockchain to document logistics data
The story:
Modern Terminals, the second largest container terminal operator in Hong Kong, has joined the TradeLens project, a blockchain-enabled technological solution developed by Maersk and IBM.
Details:
Before TradeLens, a majority of the ports were working principally with paper records, open to damages, manipulation, and outright lostness. Container ships still carry documents for immediate verification that obstructed the flow of their supply chain, eventually causing shipment delays and errors via manual filing.
Peter Levesque, Group Managing Director of Modern Terminals, said: “Without blockchain, you’re going on faith that what’s on the document is what’s in the container.”
The TradeLens solution claims that their trial run reduced the shipment time by 40 percent, leading to an overall economic saving for the supply chain participants.
Why it is important:
TradeLens uses blockchain to create an industry standard for the secure digitisation and transmission of supply chain documents around the world. This initiative will generate tremendous savings for the industry over time while enhancing global supply chain security.
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