The Global Blockchain Business Council believes the pandemic has shone a light on many systemic inefficiencies that blockchain technology can solve.
The Swiss-based non-profit blockchain industry association, the Global Blockchain Business Council (GBBC), believes that the crises resulting from the coronavirus pandemic have highlighted the benefits of distributed ledger technology (DLT).

In email correspondence with Cointelegraph, a representative of the GBBC asserted that DLT can modernize and address the inefficiencies of the systems that underpin the organization of contemporary societies.

Coronavirus highlights DLT use-cases
“The current pandemic is highlighting many of the inefficiencies and shortcomings of existing systems,” the spokesperson said, emphasizing the failures of many governments in both “preparing and responding to crises.”
Source: https://cointelegraph.com/news/pandemic-highlights-inefficient-systems-blockchain-can-help

Russia’s biggest bank is spending more than $100 million on 5,000 blockchain enabled ATMs ... that are capable of mining cryptocurrency.
Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”.

Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency.

Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. It operates 14,200 branches and 77,000 ATMs across the country. The state is its largest shareholder and its Chairman and CEO, Herman Gref, was Russia’s former minister of Economics and Trade. He is known to be a big proponent of new technology, including blockchain.

World’s first blockchain ATMs?
The maximum bid for the tender is $108,501,718.05, which equates to $22,066.65 per ATM. One of the technical requirements for these ATMs is that they should come equipped with a graphic card
Visit for for info: https://cointelegraph.com/news/russias-biggest-bank-is-buying-5000-blockchain-atms-that-can-mine-crypto

Independent researcher Kevin Rooke estimates that Grayscale has ramped up its Bitcoin accumulation to a rate equivalent to 150% of the new BTC created since the halving.
Crypto fund manager Grayscale Investments is accumulating Bitcoin at a rate equivalent to 150% of the new coins created by miners since the May 11 block reward halving.

According to data published by independent crypto researcher Kevin Rooke, Grayscale has added 18,910 BTC to its Bitcoin Investment Trust since the halving, while only 12,337 Bitcoins have been mined since May 11.

Binance CEO Changpeng Zhao reposted the chart, commenting: “There isn't enough new supply to go around, even for just one guy”.
Visit for more information: https://cointelegraph.com/news/grayscale-is-now-buying-15-times-the-amount-of-bitcoin-being-mined

The government of South Korean is preparing to legislate crypto taxes by proposing a new amendment to the existing law.
South Korea’s Ministry of Economy and Finance is preparing an amendment to apply to the nation’s Income Tax Law. This could include rules for profitable sales of cryptocurrencies as well as profits from national crypto mining projects.

According to local newspaper E Daily on May 27, the ministry also mentioned including the profits generated by initial coin offerings, or ICOs. This is tantamount to a change in the country’s rhetoric towards ICOs, which are still banned across the country.

The report specifies that crypto-to-crypto transactions, such as Bitcoin (BTC), will be “likely” exempt from the proposed amendment and only seeks to tax-for-profit transactions and not loss-making ones.
Read more information: https://cointelegraph.com/news/south-korea-is-exploring-new-crypto-tax-laws

According to a recent report, Africa’s lack of traditional financial infrastructure makes the region fertile ground for cryptocurrency adoption.
A recent report suggests that the lack of traditional financial infrastructure makes Africa a place where cryptocurrency adoption is likely.

The report — shared with Cointelegraph by a Luno representative on May 27 — sheds light on Africa’s financial infrastructure and the role that cryptocurrencies play in it.

The author of the research, which was jointly conducted by market analysis firm Arcane Research and crypto exchange, Luno, wrote that the financial landscape seen on the continent plays a role in forming appetite for crypto in Africa:
Read here: https://cointelegraph.com/news/bitcoin-may-be-the-solution-to-africas-broken-financial-system

The largest multi-port operator of India, Adani Ports and Special Economic Zone Limited (APSEZ), has partnered with the blockchain-based supply chain solution platform TradeLens.

APSEZ plans to integrate TradeLens’s blockchain solutions across 10 of its major courier management facilities across ports in six Indian states — four in Gujarat and one each in Odisha, Tamil Nadu, Goa, Chennai, Andhra Pradesh and Kerala.

Digitizing to curb supply chain shortcomings exposed by the pandemic
According to the local business news outlet, Business Line, APSEZ’s move to digitize its supply chains comes as an effort to reduce the impact of vulnerabilities of the traditional current supply chain system. The ongoing Covid-19 pandemic exposed the drawbacks of the present supply chain that heavily relies on paperwork and manual processes.

The report quoted an unnamed logistics industry official saying:
Read here: https://cointelegraph.com/news/indias-largest-private-port-operator-partners-with-blockchain-platform-tradelens

Blockchain technology can solve the financial crisis. There are many people working on blockchain technology to reduce our unemployment rate. It plays an important role in the economy. Blockchain technology is an important platform to make life easy and beautiful. Watch the video for details:

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