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Paxtradings Crypto Minute: June 4, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: June 4, 2018

New Postbank Study Suggests Young Germans Are Most Interested In Cryptocurrency

A recent survey by Postbank suggests that Germans between 18 and 34 years of age have the most interest in cryptocurrencies. Six percent of that age group claimed they had an investment in cryptocurrency, while another 14 percent said they would probably do so “in the coming months.” As reported by Ethereum World News, Germany does not tax small purchases made with Bitcoin, treating them instead as legal tender. Accordingly, 60 percent of the female responders in the survey cited regulations as their reason for maintaining an interest in cryptocurrency. Conversely, 56 percent of the male respondents cited the possibility of earning significant ROI as their primary reason.

Dubai Government Backs Digital Silk Road Project to Increase Transparency of Supply Chains

Dubai’s government has backed a project from the Dubai Future Foundation referred to as Digital Silk Road, a platform that will not be connected to the dark web marketplace. According to The Merkle, Digital Silk Road aims to use blockchain technology to “eliminate key complexities and weaknesses found in the current global trading system.” Specifically, the project aims to improve transparency of supply chains “through digital transformation and process automation.”

Abu Dhabi Ports Becomes First Entity to Launch Blockchain Solution in Abu Dhabi

Maqta Gateway LLC, a wholly owned subsidiary of Abu Dhabi Ports, has become the first entity in the city to deploy its own blockchain solution. According to CoinTelegraph, Maqta Gateway’s blockchain solution is called Silsal, and it aims to improve efficiency in the shipping and logistics industry. While Silsal will only be available to freight forwarders and their customers at launch, it will become available to “the rest of the trade community as a complementary tool to the existing mPCS (Maqta’s Port Community System).” Abu Dhabi Ports hopes launched the platform with the intention of reducing paperwork, facilitating real-time status updates, and accelerating the exchange of information.

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