Blockchain and data science are one of the hottest debate topics at present. Even students around the world are interested in getting knowledge about these topics.
Students from the world’s prestigious universities like Oxford University and Cornell University have joined the blockchain infrastructure provider Bison Trails as the founder member of the Oasis University Program.
The program was recently inaugurated on August 13, and the primary goal is to highlight the oasis program within the student’s society. Students’ interest in these areas of the blockchain network can be seen as a hint for a bright future for blockchain.
What is an oasis network?
Oasis network is a proof-of-stake blockchain that has been designed to help in the tokenization of data. Thus, the process will enable users to maintain and have control over the data that is shared. Therefore, users will get the ability to control how their information is being shared and access their data.
How will this data program work?
Series of seminars will be conducted, and students will get technical support to understand how to share data responsibly. In addition to this, university groups will also build apps, run validators, and engage in the oasis network
The program’s main aim will be to foster the growth of a substantive ecosystem that will be focused on building a responsible data economy.
Who are the founder members of this program?
The program’s founder members include blockchain societies from Oxford University, Cambridge University, Berkeley University, and other top universities from all around the globe.
Why are students and universities interested in this program?
As per Dr. Philip Sanders, the head of Frankfurt University thinks that the blockchain benefits added with the data privacy aspect encouraged his group. As per Dr. Philip Sanders, this will help run a node, participate in the use of the network, and practical research and practical education.
Blockchain and data science will be used for different applications worldwide. The step taken by Oasis Blockchain Network’s data program can be seen as a welcome step in the field of blockchain. The way students from top universities join the program can be seen as a milestone achieved by the program.
Let’s see how good this program will perform in the future.
“Tel Aviv Stock Exchange” (TASE) was inaugurated in Israel in September 1953. The main function of this establishment is playing the main role in the economy of Israel and availing a market infrastructure, focused on economic growth.
It is basically the “home-court” for the investment community of Israel offering investors with a trustworthy and understanding business platform. TASE is also considered as the “home-court” for various companies in Israel looking for raising capital to touch the liquidity and the growth objectives of them.
TASE Launching Blockchain Security Facilities
TASE or the Tel-Aviv Stock Exchange has come up with the idea of establishing its securities lending supply based on blockchain. An announcement was made on the 28th of July by TASE and it said that the institution would offer a crucial function in the capital markets of the nation that is short of a central system for funding securities, at present.
In contrast to the present scenario that is not successful to match the investors’ requirements, the current system based on blockchain will focus each and every activity of security lending at the same spot and activate straight up borrowing among the investors across the primary financial equipment range.
Strived and Trialed
In March 2020, the “Tel Aviv Stock Exchange” came up with a committed environment for testing for the platform which gave allowance to the members to run loan transactions. According to these results, the exchange is making adjustments with its approaches in the lead-in to November. The exchange made prominence in the value that blockchain technologies offered – peer to peer transaction support, smart contract operation along with uplifted transaction security for the unchangeable standard, to be very specific.
TASE also made the statement that this allows the exchange curators and customers to work at inexpensive prices along with a security level stronger than before. The director and the senior VP of TASE, Orly Greenfield stated that Blockchain technology would be making security lending businesses capable of the protection of data and giving complete support to the increment in the transaction counts.
TASE Partnered with Intel and Accenture
At first, the “Tel Aviv Stock Exchange” made this announcement about the building up of its very brand new platform in the month of May 2018 which was erected with the usage of Hyperledger Sawtooth. This specific exchange has made collaboration on the design with partners including companies like Intel, Accenture, and Israeli fintech The Floor.
Justin Sun, one of the highly successful and popular tech entrepreneurs of recent times, known for founding TRON and heading BitTorrent, recently announced a bounty of $1 million for anyone who helps him find his Twitter account. Recently, hundreds of Twitter accounts of celebrities and popular figures were hacked by the anonymous hacker(s). Even though the accounts are retrieved now, it is not yet known as to who is responsible for such a large scale hack.
Justin Sun says that he would readily give $1 million to the person or the group involved in causing this wide-scale Twitter hack. Justin Sun added that TRON is working closely with Twitter to analyze and resolve the issue and fill in the gaps that caused this incident. He added that the company is highly responsible for all the Twitter accounts it maintains, and are vigilant when it comes to handling and operating the accounts, safely and securely. Sun said that this event clearly highlights the fact that our society needs to incline towards using reliable software and services that are decentralized.
On July 15, a large portion of Twitter accounts, including that of the famous personalities, business figures, public figures, and many major businesses, including that from the crypto space, were hacked. It is not yet clear as to who is responsible for this incident. Not only the businesses and people from the Crypto space were targeted, but Microsoft’s co-founder Bill Gates and Tesla’s founder Elon Musk’s Twitter accounts were also hacked. The hacks range from various kinds of false partnership announcements to hoax BTC giveaway and more.
Some other popular names whose Twitter accounts were hacked, included Kanye West, Joe Biden, Mike Bloomberg, Jeff Bezos, and more. An advanced cryptocurrency tracking firm named Whale Alert provided data on how much the hacker(s) were able to collect through the mass Twitter hack that occurred on July 15. The firm revealed that even though it can be undoubtedly termed the hack of the year, the hacker(s) was only able to gather $58,000 so far. It is time and time reiterated by the crypto experts that when dealing in cryptocurrencies, the use of cold wallets or a smartphone is essential. It would ensure comprehensive security for the cryptocurrencies and prevent it from getting easily stolen by the hackers.
The Justin Sun account was retrieved soon after it was hacked, but his company, TRON’s twitter account, is yet to be recovered. Twitter support said that even though it is not yet clear as to who is responsible for hacking 130 Twitter accounts on July 15, it is clear from the data currently available that it was a well-planned social engineering hack. Twitter has currently started an internal investigation as it was clear that the hack of such a scale is not possible without internal and restricted access. Moreover, additional security features and layers are being worked upon that the company plans to implement soon to protect its users’ security and privacy.
South Korean Parliament has submitted a bill for crypto profits to be taxed up to 20%.
A private member’s bill is recently put forward to increase the Capital Gain tax on crypto incomes that could be as high as 20%. It will also apply to all kinds of blockchain mining operations and ICOs. Whenever someone sells and gains on cryptocurrencies, they need to file return within two months from the last day of closest half. For non-residents, the cyptocurrency exchange withholds the tax.
Historically, South Korea has been one of the most active crypto trading and mining countries in the world. However, the authorities have been very reluctant to impose taxes or regulate digital assets because this would legitimize the sector as a whole. With the Crypto Transaction Bill’s decision, the nature of cryptocurrencies will foster a growing discussion with true value.
Yang Kyung Sook, a reputed and influential representative of South Korea’s Democratic Party, proposed reclassifying cryptocurrencies and other digital assets as “commodities” instead of ‘currency.’ He specifically explained that classifying the crypto assets as ‘goods’ or ‘commodities,’ instead of currency, is because of investors’ behavior. He believes that due to this, these assets qualify for a capital gain tax.
Addressing the Parliament, Yang said that, so far, no income tax was imposed on the virtual assets, and they were only recognized as a function of money. Recently these are being traded as commodities with actual property value. He added that after considering various aspects, like the recognition of digital assets with commodity value, the government’s attention and taxation of these cryptocurrencies have become very necessary. Soong Tae-Yoon, a Korean Yonsei University Economist, critically warned that taxing the cryptocurrency market may slow down the technology’s emerging capabilities.
However, the Financial Services Commission submitted data according to which, an average of US $1.10 billion make up the average cryptocurrency trade per day. Additionally, an average of 6.33 million US dollars crypto tradings took place in the first five months of 2020.
Many countries, including Japan and the United States, are taxing the cryptocurrencies because the sums being traded are huge, and the revenue can be incredible on taxation.
Therefore, after years of continuous discussions and deliberations about the virtual assets, the South Korean Government is all set to announce the taxing income’s final details to be generated from crypto transactions.
In April of 2020, South Korea’s central bank announced its intention to develop the Central Bank Digital Currency system, like other countries in the world. The bank made a six-man panel, including lawyers, focused on Fintech and professors of commercial laws to launch this process. The committee will be reviewing all the potential regulatory issues impeding this novel project with some additional staffing from the Bank of Korea’s legal policy office.
The committee has started working from early June with a timeline of May 2021. This committee’s work will play a crucial part in the 22-month project timeline set to launch CBDC.