Blockchain Daily Digest – January 8th, 2020

1.   EY Ops Chain: Bringing Transparency and Accountability to Public Finance Management

Governments utilize enterprise resource planning (ERP) tools to track public finance nowadays, however, how can we ensure the tracking of public funds is transparent and accountable to the general public?

2.   Is Bitcoin a Safe Haven Asset? US-Iranian Tensions Ignite Old Debate

Bitcoin’s price has improved significantly following the U.S. killing of top Iranian general Qassem Soleimani. As tensions escalate between the US and Iran, several crypto analysts have reconsidered the old debate on Bitcoin’s ability to function as a safe-haven asset similar to gold in times of geopolitical uncertainty. 

3.   US SEC Lists Priorities for Crypto Examination in 2020

The Securities and Exchange Commission’s (SEC) has published a list of 2020 Examination Priorities via its Office of Compliance Inspections and Examinations (OCIE) which highlights digital assets and transfer agents as ongoing concerns for US retail investors.

4.   IMF Chief Economist Says Crypto Won’t Threaten Dollar Dominance Although Global Reserves Decline

In 2019, the release of the whitepaper for the Libra currency, a stablecoin backed by a basket of global currencies, met with a lot of regulatory hurdles. Other countries, including China and Cambodia, have been looking and researching for their own national digital currency.

5.   Why Crypto Exchanges Must Reinvent Themselves to Stay Relevant or Else Face Extinction

Several crypto exchanges have shut down their operations due to various reasons. For example, many crypto exchanges have found themselves having little business to sustain the cost of staying open.

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