JP Morgan creates JPM Coin

Here is what happened in the world of
blockchain and cryptocurrency in the last one week. Coming up. Hi I'm Ajay from Koinlocker and I make these really short videos to bring you the latest
happenings from the world of blockchain and cryptocurrency in the last one week.
If you new to my channel consider subscribing. JP Morgan announced plans to launch its own cryptocurrency called the JPM Coin. This would be the first
crypto created by a major US bank. It will be used to settle payments between
clients and each token will be redeemable for 1USD. This week Indonesia’s Commodity Futures Trading Regulatory Agency has approved a regulation that recognizes Bitcoin and other digital currencies as a trading
commodity. The legislation thus gives legal certainty to cryptocurrency
companies operating in the country. Oman's second largest bank Bank-Dho-far has begun using ripplenet technology for cross-border payments to India. Ripplenet is a global blockchain based payment network of institutional payment
providers that was developed by a technology company Ripple. Chinese mining hardware producer Bitmain has announced the next generation 7 nanometer ASIC
mining chip. This new mining hardware is designed for mining cryptocurrency such
as Bitcoin and Bitcoin cash and it consumes 28% less power than its
predecessor. The new chip will be used in new Antminer models — S17 and T17 , which would be revealed later this year. The Government of India has inaugurated a national cyber forensics lab which includes cryptocurrency forensics lab to
perform crypto related analysis. The lab is equipped with technology to recover data from damaged hard disks, cryptocurrency analysis, malware
forensics and data can be retrieved from from 33,000 kinds of mobile phones. This week in a rather strange case the Ethereum mining pool Sparkpool received a payout of over 2000 ETH tokens worth $300,000 for mining just 1 block on the ethereum blockchain. A figure that's about 600 times more than
the standard block reward. Normally miners are awarded 3 ETH or about $500 for each new transaction block added on the Ethereum Blockchain. Blockchain security firm and crypto custodial service BitGo has revealed plans to offer crypto insurance through Lloyd's of London. BitGo business clients will be able to acquire insurance for their digital assets held on the BitGo business custodial service offering. That's all the time we have today and if
you want to catch the latest from the world of blockchain and cryptocurrency be sure to hit the subscribe button. If you want to read the topics I just mentioned please find the links in the notes below.

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