Crypto Happenings To Catch Up This Week! Feb 17 – 23, 2020


As expected, Binance has played its part by launching Binance Cloud. Sweden is planning to replace fiat with cryptos and UEFA ⚽ is utilizing a DApp for its ticket sale. What’s most unexpected is that many crypto companies are investing in improvising the Education sector.🏫

Binance Cloud Platform will Allow Users to Launch Crypto Exchange

On the 17th of February, Binance, the world’s largest cryptocurrency exchange, has launched B2B2C Cloud that allows users to launch their own crypto exchange. Binance Cloud is an infrastructure solution for partners and customers to launch digital asset exchanges by leveraging Binance’s industry-leading technology, security, and liquidity.

Changpeng Zhao, CEO of Binance stated, “As a part of Binance’s Open Platform initiative to enable more crypto access globally, Binance Cloud supports its customers and global partners with a complete turn-key exchange platform solution, consolidating the new financial infrastructure to an open platform based on blockchain technology. With the initiatives focused on opening access to Binance’s technology and resources as an infrastructure provider, we aim to limit the technical challenges for platforms and partners, allowing them to focus on their users and local fiat access and accelerate the global adoption of crypto.”

All the core functionalities of the Binance global exchange, including matching engine, big data security system, trading risk controls, market depth, and liquidity will be used by the Binance Cloud platform to build the cryptocurrency exchanges.

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Sweden’s Central Bank to Test its Cryptocurrency, E-Krona

The Central Bank of Sweden Sveriges Riksbank begins the testing of e-krona, its own digital currency. Sweden is the first country to issue a Central Bank Digital Currency (CBDC). On the 20th of February, the bank said that the e-krona will be used as an alternative for fiat currencies. Also, depositing and withdrawing the digital currency will be made easy via a mobile app.

The Central Bank stated, “The Riksbank is reviewing the possibility of issuing a digital complement to cash, an ‘e-krona’, and whether it could support the Riksbank in the task of promoting a safe and efficient payment system.” The bank further added that e-krona will “reduce the risk of the krona’s position being weakened by competing for private currency alternatives.”

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UEFA Exploits Blockchain for EURO 2020 Ticket Sales

The UEFA Union of European Football Associations will be distributing more than one million tickets for the UEFA EURO 2020. The EURO 2020 is set to commence in June. The ticket sale will happen through a new blockchain-powered mobile app. UEFA is employing the blockchain technology for ticket distribution to ensure accountability and transparency in preparation for the tournament.

An announcement from UEFA says: “The ability to deliver mobile tickets to fans close to matchday will considerably enhance the fan journey, as fans will no longer be required to visit ticket collection points to exchange ticket vouchers.”

This announcement explains that Europe’s football governing body is planning to deploy a decentralized application for selling tickets to this EURO 2020. Football fans from all of Europe will have the option of purchasing stadium passes from their smartphones, thus avoiding the long queues.

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Top 5 Companies Investing in Blockchain Education

Many crypto companies have donated millions of dollars worth of cryptocurrencies to universities in the event of promoting blockchain education. Many colleges have received millions of dollars worth of cryptos over the last few years. This crypto donation focuses on teaching students with the knowledge of cryptocurrency and blockchain research.

The companies that donated are as follows:

  • IOHK – $500,000 to University of Wyoming
  • Ripple – $50 million to 30 universities
  • – $3 million to Virginia Tech
  • Nikolai Mushegian – $6 million to Carnegie Mellon
  • Echolink – $50,000 worth of BTC to UC Berkeley

According to a statement by Michael Earley, Head Of Research & Nonprofit Outreach at The Giving Block (a platform that facilitates crypto donations), “Universities could receive millions more if only they did a better job of publicizing the fact that they accept donations in crypto.”

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