St. Louis Fed Now Tracking #Crypto, India to Launch National #Blockchain Platform, #Rapper #Akon Set to Introduce New #Cryptocurrency

Crypto Corner - June 21, 2018

St. Louis Fed Now Tracking Crypto, India to Launch National Blockchain Platform, Rapper Akon Set to Introduce New Cryptocurrency and Stanford Founds Blockchain Research Centre

Federal Reserve Economic Data (FRED), a database operated by the St. Louis Federal Reserve, has announced that it is now tracking price data for four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). The data is drawn from crypto exchange Coinbase, is updated daily and spans back to 2014.

India is set to launch a national blockchain platform project called IndiaChain, according to Factor Daily. IndiaChain will "allow both government and private entities to take advantage and build large scalable solutions." Government policy think thank, the National Institution for Transforming India (NITI Aayog), aims to bring out a blockchain policy paper next month.

"The work on the blockchain paper is in full swing now and hopefully it will be out by the end of the month or beginning of July," said a Niti Aayog official.

Page Six reports that Senegalese-American rapper Akon is launching a new cryptocurrency called Akoin next month. Akon, who also plans to turn 2000 acres of land in Senegal into a "100 percent crypto-based city", said during a panel at Cannes Lions that his crypto would help Africa.

"I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system and also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down."

Stanford University has launched the Centre for Blockchain Research, which is intended for "researching and understanding a technology that promises to fundamentally change how people and companies make deals and complete financial transactions over the internet" according to an official announcement.

The center will bring university scientists and industry leaders together to develop best practices for this burgeoning and potentially transformative field. In addition to research, center scientists are creating courses to help future students and working professionals use blockchain to develop financial instruments, protect intellectual property, manage vital records and more.

Sam Mowers, Investorideas

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