Arizona can become the first US state, whose residents will soon be able to pay taxes using cryptocurrency. The corresponding bill was passed by the State Senate this week.
16 senators endorsed the bill, 13 legislators opposed it, but in the end, a three-vote margin was enough to pass the document. Now the bill will be forwarded to the Arizona House of Representatives for further consideration.
How can it change the life in Arizona?
The representative of the Republican Party Jeff Waninger noted that changes in the state’s tax law will make Arizona a comfortable place to live for users of new technologies. He also believes that in this way Arizona sends a signal to everyone in the US and the rest of the world that in the future the state will be open to blockchain and digital currencies.
At the same time, the representative of the Democratic Party, Steve Farley, warns that the bill shifts the “load of volatility” of bitcoin prices to taxpayers who will continue to use the US dollar.
“It would mean that the money goes to the state and then the state has to take responsibility of how to exchange it,” said Steve Farley.
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The South Korean currency exchange Bithumb opened registration for new users after the introduction of the “know–your–customer” (KYC) procedure.
At the end of December, the government of South Korea reported on a demand to prohibit the opening of anonymous unverified accounts for users of crypto exchanges. It resulted in the development of laws and regulations, according to which at present registration on the Korean stock exchanges everybody must pass through the KYC.
The developers of the Bithumb reported that from February 9, users are able to verify their profiles via an open account in Nonghyup Bank. Moreover, the report says that the last revisions on the integration of the verification through Shinhan Bank will soon be completed.
The South Korean crypto exchange Bithumb was able to introduce the KYC system within ten days after the official ban of anonymous trading accounts in the whole country.
According to media reports, on January 30, 2018, new legislation was introduced in the country, created by the Financial Services Commission (FSC). It obliges crypto exchanges to introduce the KYC procedure for all the platform users. Thus, for the implementation of trading on the Bithumb, new users, as well as previously registered ones, must pass the KYC necessarily.
Nexus Earth Partners has announced a partnership with blockchain platform SingularityNET. They will conduct research on the joint use of artificial intelligence and blockchain technology. As reported on the company’s official website, this cooperation can lead to the creation of a blockchain AI as the most secure and flexible infrastructure.
The head of SingularityNET, David Hanson, stressed that this technology might become the most valuable in the history of mankind.
” It will become the single most valuable technology in all of history. This is the chance for us to change the world together,” Hanson said.
Both companies seek to decentralize artificial intelligence and increase its safety, create technologies that will benefit society, rather than individual corporations and governments. Moreover, they set themselves the task of reducing the cost of artificial intelligence and making it accessible to more people.
The world’s most famous humanoid robot Sofia is based on artificial intelligence, loaded into the SingularityNET blockchain platform.
International Business Times starts the contest of architectural photography with an artificial intelligence acting as a jury. It was created by the developers of the well-known mobile app EyeEm. Developers say that the system is able to analyze the images according to a number of criteria: from identification of objects on the photo to evaluating the aesthetic features of the photo.
The Graphic City competition is dedicated to architectural minimalism. Mangers ask participants to focus on geometric elements, corners, and curves. They want photographers to send visually concise photos. Recruitment continues until February 12.
EyeEm is one of the most popular photo apps. The number of users is equal to approximately 20 million people all over the world. Technologies of AI in the program have been used for a few years – mostly for sorting photos regarding the themes and categories.
The smallest in terms of assets the Bank of Canada VersaBank announced the creation of a digital vault for cryptocurrency. The new service will be launched in June.
“We’re using what banks are all about — safety and security — only what we’re doing now is saying that physical box in the basement is getting obsolete,” said David Taylor, chief executive officer.
Secure and Super Private Place
To work on the new service, the bank attracted the BlackBerry specialist Gurpreet Sahota. He will lead the team of developers of virtual storage VersaVault. The digital assets will be stored on servers around the world. As in the case of safe deposit boxes, the bank doesn’t know what is inside. In addition, the financial institution will not even have access to the contents of the storage.
“Our differentiator in this market is to be secure and super private,” said Taylor.
The large funds have already shown interest in the novelty. The cost of services in the bank has not yet been determined, but it will not be “cheap”.
LitePay is the new processing service for the Litecoin cryptocurrency. It will be launched in the near future and will allow companies and merchants around the world to quickly and easily accept “digital silver” as payment for goods and services.
The beginning of work on LitePay was announced by the Litecoin Foundation in December of last year. Now the developers are ready to present the product to the general public.
Users will also be offered the opportunity to order a debit card that can be replenished with any wallet and used to withdraw cash from any compatible ATM. The website of LitePay does not say which payment platform supports the cards.
The popular Bitcoin-processor BitPay currently takes a commission of $5.00, and the confirmation of transactions takes a lot of time.
Taking into account the faster and cheaper transactions offered by Litecoin, such a service can be not only more profitable and convenient, but it will also help to broaden the adoption of this cryptocurrency and increase its liquidity.
Specializing in the sale of real estate Japanese startup company Yitanzi announced the plans to accept bitcoins as a payment.
Currently, one commercial property is for sale – a small building worth 547 BTC (approximately $ 6.4 million at the current rate).
The technical director of Yitanzi Yokozawa Yuske reported that now many crypto-enthusiasts are looking out for the real estate market, seeking to spend investment income. Yuske also noted that the Japanese real estate market has a large number of sellers who are ready to receive cryptocurrency as payment.
According to representatives of Yitanzi, the building will be sold for bitcoins in several weeks. Moreover, in the future, the company is considering the option of accepting the second largest cryptocurrency Ethereum.