Evening digest, Jul 30
💸 Korean Government Seeks to Strip Tax Perks From Crypto Exchanges.
Cryptocurrency exchanges in South Korea may soon lose eligibility for significant tax benefits currently granted to smaller companies. A proposed revision to the existing tax law, announced by the South Korean government on Monday, would exclude crypto exchanges from the category of startups or small and medium enterprises (SMEs) that can claim a tax cut of up to 100 percent. However, the government appears to have decided that crypto platforms do not justify the benefits, explaining that "cryptocurrency transaction brokerage is not effective in generating added value."http://telegra.ph/Korean-Government-Seeks-to-Strip-Tax-Perks-From-Crypto-Exchanges-07-30-2
🏦 IBM and FX Giant CLS Team Up to Launch Blockchain App Store for Banks.
Even private and permissioned blockchains need to build ecosystems and achieve network effects, just like their permissionless, public counterparts. At least, that's the thinking behind LedgerConnect, a financial blockchain "app store" that aims to make it easier for banks to access distributed ledger technology (DLT) solutions from fintech and software providers, and for those vendors in turn to reach bank customers.http://telegra.ph/IBM-and-FX-Giant-CLS-Team-Up-to-Launch-Blockchain-App-Store-for-Banks-07-30
🤝 Commonwealth Bank of Australia Ships 17 Tons of Almonds to Europe With Blockchain.
The Commonwealth Bank of Australia (CBA) has announced the completion of a successful trade using its new blockchain platform, according to its July 30 press release. In a collaborative effort involving five domestic and international “supply chain leaders,” the bank used blockchain to track a shipment of 17 tons of almonds from Melbourne to Hamburg, Germany. Distributed ledger technology (DLT), Internet of Things (IoT), and smart contracts underpin the platform, which seeks to enhance multiple aspects of the supply chain process.http://telegra.ph/Commonwealth-Bank-of-Australia-Ships-17-Tons-of-Almonds-to-Europe-With-Blockchain-07-30-6
🇮🇳 Indian State Embraces Blockchain Technology to Mitigate Fraud in Government.
The Indian state of Telangana looks primed as a blockchain technology forerunner in the subcontinent. On July 26, 2018, state officials signed MoUs with various blockchain startups and consultants to augment the use of the burgeoning technology in administrative services.http://telegra.ph/Indian-State-Embraces-Blockchain-Technology-to-Mitigate-Fraud-in-Government-07-30-3
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