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The Bank of England Cancels Plans to Release its Own Cryptocurrency… For Now
The Bank of England has cancelled plans to launch its own cryptocurrency. According to Coindesk, the Bank was concerned about the proposed cryptocurrency’s impact on the financial system. This cancellation comes three days after the Bank announced research on the potential introduction of a cryptocurrency linked to pounds sterling. However, the Bank claims that it will continue to research the topic.
Visa Bans Cryptocurrency-Based Debit Cards, Up to 500,000 Consumers Affected
According to CNBC, WaveCrest has confirmed that Visa has required the company “to immediately close all Visa cards.” As a result, up to 500,000 consumers are unaware how to access their cryptocurrency linked to those cards. Reasons for the agreement termination remain unclear.
Dash and Bitnovo Agree to Partnership Enabling Use of DASH in 10,000 Retailers Throughout Spain
Dash has signed a partnership with a Spanish startup, called Bitnovo, to enable the use of DASH in 10,000 retailers throughout Spain. According to the Coin Journal, The partnership will allow consumers to purchase Dash in stores through coupons. Consumers may also purchase Dash-backed gift cards from some Carrefour and Media Markt locations. Prior to the partnership, Bitnovo had only supported Bitcoin in its retail network.
Dogecoin Reaches USD 1.17 Billion Market Cap
Dogecoin has a achieved a market cap of USD 1.17 billion. According to CNBC, Dogecoins were created as a parody after a popular internet meme. In December 2017, Dogecoins increased more than 400%. As of 6:56AM GMT on January 5, 2018, Dogecoins are trading at $0.010360 per token.
IBM and Comcast Back Investment Fund for Blockchain Technology Startups
IBM’s and Comcast’s venture groups have backed an investment fund, called MState, for blockchain technology startups. According to Yahoo Finance, MState plans to invest USD 25,000 to 50,000 into five or six startups over the next six months per startup. MState will also connect startups with Fortune 500 companies that express interest in adopting the startup’s technology.
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