Week 52 News Recap
ETC and ETH to Become Completely Compatible with the Latest Agharta Hard Fork
Ethereum Classic dev team is preparing a new hard fork for ETC. The upcoming ETC fork should adopt certain system features already contained in the upcoming hard fork by Ethereum, Constantinople. The latest hard fork prepared by Ethereum Classic is named Agartha and should make ETC fully compatible with Ethereum. The intention to create a backward-compatible system between ETC and ETH was confirmed on December 26th by the CEO at ETC Labs, Terry Culver. Culver also added that ETC Labs is most certainly one of the first innovators in the ecosystem of ETC, adding that the backward compatibility between ETC and ETH networks should make a great contribution to the overall development of Ethereum Classic community and ecosystem.
Considering that ETC was originally derived from ETH, as a part of a hard fork due to a notorious DAO faulty, ETC Labs is aiming at reaffirming similarities between ETC and ETH through Agartha. Agartha hard fork is expected to be released to the public only weeks into the year of 2020, scheduled for January 15th, 2020. Core developers came to a consensus that Agartha should become active at block 9,570,000, which matches January 15th as the official date of release. In the meantime, to emphasize the difference between ETC Labs and ETC Core Labs, ETC Core Labs changed their name to ETC Core.
Crypto Influencers Reacting to YouTube Taking Down Crypto-related Videos
Starting from December 23rd, one of the greatest video-sharing platforms on the internet, YouTube, began removing crypto-related videos shared by some of the biggest influencers in the world of cryptocurrency and blockchain. Crypto Tips and BTC Sessions are only some of the affected channels after YouTube took action and made a call to delete and remove hundreds of videos related to the cryptocurrency niche. One of the most affected channels in the sphere turned out to be ChrisDunnTV, containing years-worth educational and informational videos in the cryptocurrency niche.
It hasn’t been long since the action was taken by YouTube technicians when crypto-oriented video creators started to make appeals. Chris Dunn, who got a great number of videos deleted, claims that things have only gotten worse after he made an appeal. As Dunn claims, not only that he is not able to access and re-upload previously deleted videos that YouTube claims to have reinstated, but also claims that at least one new video has been deleted within this process. As a response to this situation, YouTube representatives stated that they are working on re-evaluating deleted and removed videos, adding that they have made a wrong call due to the great number of videos they are reviewing on a daily basis. As far as the exact reason behind this action, some people are guessing that videos are being flagged by YouTube users, while other are guessing that the problem might have been caused by a faulty AI video-flagging system. By far, YouTube claims to have nothing against crypto-related videos.
Licenses for Crypto Firms Now Available in France
The Autorité des marchés financiers (AMF), otherwise known as Financial Markets Authority, which is France’s top financial regulator, went forward with publishing a new set of rules designed for providers of services related to digital assets. AFM created on-mandatory licenses for crypto firms, also publishing guidelines for interested applicants who would like to get their licenses. The rules as well as released guidelines are a part of one of the first legislation standards for cryptocurrency in Europe, PACTE, which was passed back in May 2019.
Digital Asset Service Providers, abbreviated to DASPs by legislators, who wish to get their firms licensed should submit their 2-year business plans to AFM according to the guidelines released by the French regulators. Additionally, crypto firms looking to get licensed should also submit a list of cryptocurrencies they intend on operating with, alongside submitting organizational charts and the list of countries the firm is planning to offer their services in. Licensing in France is optional, while the French government only demands to have firms that are dealing with crypto-to-fiat and fiat-to-crypto services, to register their firms in order to prevent money laundering and terrorist financing.
Bitcoin One of the Top Google Searches Whenever BTC Price Goes Up or Down
Bitcoin, as the first and the top-traded asset in the market of cryptocurrency topped the markets back in December 2017 when the top crypto reached the price of around 20,000$. Even in times when Bitcoin touched some of the lowest values in the market, a trend in Google searches prevailed, having Bitcoin become one of the top searched terms on the internet’s most favorite search engine. Even back in November 2019 when Bitcoin fell to the price of around 6,500$, following a downward path from 8,000$ after keeping up with 8k$ for a while, Bitcoin still remained one of the top popular searches on Google.
That being said, global interest in the top crypto by market cap seems to be trending up and rising whenever Bitcoin shows price movement in the market – whether that movement is positive or negative. The trend prevailed even when Bitcoin touched its seven-month low in November 2019, after trading at the price of 9,200$. In the meantime, term “Bitcoin” reached new records in November on Google search, topping records showcased in October. What is also interesting is that Google records are showing that Bitcoin is gaining more attention in developing countries, primarily in African countries such as South Africa, Ghana and Nigeria.
Chinese Internet Gem Tencent to Form a Research Team for Digital Assets
According to numerous reports published by Chinese media, the internet giant Tencent, the owner of WeChat, is planning to launch a research team focused on digital currencies. As claimed in reports, Tencent is forming a team that will focus on finding new ways to use digital assets for the sake of their own payment platform, while the new team should become a part of Tencent’s own payment department. The team that should be formed for researching digital assets should also focus on finding new applications in business for digital currencies, while also exploring ways in which cryptocurrency can be used in compliance with existing, pending and future regulations.
Tencent’s team should reportedly support initiatives in the area of crypto within the general interest of Chinese government, in addition to reports that Tencent should work on development of digital yuan that should be piloted in the city of Shenzhen. Tencent’s WeChat Pay is China’s most popular payment service provider, while the service is also available in a great number of countries outside China. Moreover, Tencent sees Facebook’s Project Libra as a serious threat to the global outreach of WeChat Pay.