collected by :Donald Luther
Zimbabwe’s cash-strapped government is piling up reserves of gold and diamonds to introduce a new local currency, according to the country’s Vice President Emmerson Mnangagwa.
It’s like buying some pieces of land.”Wise has created 100 million tokens called LociCoins.
Thirty million tokens are allocated for customers to buy, while 70 million are being held onto by the company.
“If an invention searched for on Loci’s site is deemed of value then Loci will give the customer tokens to acquire the invention.
A Sterling-based entrepreneur is predicting a new cryptocurrency will take his company into the financial stratosphere while also benefiting its customer base.CEO John Wise set up his company, Loci Inc., in 2015.
Loci uses a software platform called InnVen to help customers search and research patents.The platform can access 98 patent databases in 67 languages.
Zimbabwe is amassing gold and jewels to back a most recent money for its destroyed economy
In November last year, Zimbabwe’s central bank introduced so-called “bond notes”, bank notes that can be traded within the country’s border but have no value abroad.
As a result, the government in Harare has decided to stockpile gold and diamonds ahead of introducing a new currency in the future.
Vice President Emmerson Mnangagwa says the country could soon introduce a new currency.
However, Mnangagwa did not disclose any detail on when the new currency might be implemented by the southern African country.
Blockchain fork going to create latest digital currency called Bitcoin Cash
Nodes are required to send messages across the bitcoin network, but Bitcoin ABC will use a different set of rules, causing the blockchain (the digital ledger which records every bitcoin transaction) to fork and create two separate digital assets: the original bitcoin and Bitcoin Cash.
“The inception of Bitcoin Cash may prove to be exactly what Bitcoin needs.”
And because Bitcoin Cash will have all the history from the old blockchain, any investors with bitcoin tokens will receive the same number of tokens on the new blockchain.
However, Bitcoin Cash will likely only be worth a fraction of bitcoin.
The original digital currency is trading around $2778.39 today, but future values for Bitcoin Cash on the website Coin Market Cap are just $288.35, or 0.103 of a bitcoin.