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Egypt Will Issue a Digital Currency Next Year

M. Ali

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Egypt Will Issue a Digital Currency Next Year

Finally, after a long period of refusal, the Central Bank of Egypt revealed that it will complete the study to launch a digital currency next year, in cooperation with a number of international institutions.

According “Almal News“, Ehab Nasr, Central Bank’s VP assistant and head of payment systems and financial technology sector, the central bank will finalize the launch of a digital currency next year.

Nasr said that the Central Bank is cooperating in this regard with international institutions that he did not disclose, also did not disclose whether the new Egypt digital currency will be used only in internal banking transactions or will be available for public use and trade, where the study includes the need for the Egyptian market for digital currency and legislation necessary to launch .

A number of central banks around the world are seriously considering launching cryptocurrencies under their control, notably China’s central bank , Tunisia and Turkey.

The Central Bank of Egypt has repeatedly refused to deal with the use of digital currencies , including Bitcoin, pointing out that their prices are volatile due to speculation and lack of control by governments.

Recently, Arab central bankers recognized digital currencies during the meeting of the Board of Governors of Arab Banks and Monetary Institutions, and stressed the importance of addressing the risks arising from the use of digital currencies and the possible effects on monetary policies and the importance of appropriate preparation and capacity-building of central banks that wish to issue such Digital workers, development of digital identity standards, principles of customer identification, development of legislation and strengthening of international coordination in the face of risks.

Ayman Hussein, Deputy Governor of the Central Bank of the payment systems sector, said in October last year, that the Central bank began a study on the possibility of issuing an Egyptian digital currency, without disclosing further details, stressing that it comes in the context of reducing the circulation of banknotes And the transformation into a non-cash society.

Last year, The Central Bank issued a formal warning last year against dealing in all types of virtual cryptocurrencies, especially Bitcoin, because it is not issued by any central bank and is not supervised by any regulatory body in the world, and therefore lacks the official guarantee and government support enjoyed by the official currencies issued by central banks.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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Steemit Launches Smart Media Tokens on a Testnet

Sying Tien

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Steemit Launches Smart Media Tokens on a Testnet

Steemit, the blockchain based blogging and social media platform where everyone gets paid for creating content, has released a new token-launching protocol, Smart Media Tokens (SMTs), on a testnet.

Users can use the newly launched token “Smart Media Tokens” to create a new cryptocurrency with 3-second fee-less transfers, without having to write a single line of code. SMTs will allow any publisher, creator, or entrepreneur to launch their own custom token on the Steem blockchain, which will help them monetize their digital content and reward consumers who engage with their content through likes, votes, views, shares, and comments.

A screenshot of Smart Media Tokens website

SMTs have been live on testnet now for over 40 days, making this hardfork already the most tested hardfork in Steem’s history.

According to Steemit’s announcement, entrepreneurs using SMTs will benefit from the state-of-the-art properties that come from being powered by the Steem blockchain, including three-second block times, zero fees, and its ‘Proof-of-Brain’ algorithm, which autonomously distributes tokens to the most valuable members of a community. And because Steem was designed from the ground up to power web applications, SMTs will integrate easily into any established website, app, or platform, making it simple for mainstream creators and entrepreneurs to access the fastest-growing industry in fintech and immediately begin generating revenue at virtually no cost.


What is Steemit?

Steemit is a blockchain based blogging and social media platform such as Redit, it offers rewards to its users in STEEM coins cryptocurrency for publishing and creating content. Steemit users can also earn STEEM coins for commenting and upvoting other posts.

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Binance Adds Margin Trading for Tezos (XTZ)

June G. Bauer

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Tezos-Binance

Binance, the world’s largest cryptocurrency exchange has added Tezos (XTZ) margin trading to its platform. The new margin trading pairs include XTZ/BTC, XTZ/USDT.

Margin trading is a high risk trading strategy that allows trading cryptocurrencies using funds provided by a third party. Margin trading gives traders the ability to enter into positions larger than their account balance this can generate a huge profit if executed correctly.

What is Tezos?

The Tezos project is a USA-based blockchain solution that supports building smart contracts and its Tezos (XTZ) token. The project was founded by former Morgan Stanley analyst Arthur Breitman. It’s an Ethereum-like blockchain that hosts dApps and smart contracts.

Tezos project held an ICO (Initial Coin Offering) from July 1 through 13, 2017. It raised cryptocurrency worth $232 million.

At the time At the time of writing, XTZ token is currently worth $1.26, the peak price of XTZ so far was $12.15 on December 17, 2017.

XTZ/USD Price Chart

*Charts are provided by cryptocompare.com

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Utopia Has launched its Mainnet

M. Ali

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Utopia-P2P-mainnet

Utopia, the all-in-one blockchain solution for private & secure instant messaging, encrypted e-mail system, private file storage, anonymous payments and private web browsing, has finally launched its mainnet to the public.

At TheCoinsPost, we tested and reviewed the beta version of Utopia back on July but lots of things have changed since then. The app has been refined, tuned to be crazy fast and stable and some new features have been added. In order to join and use Utopia, you will need to install Utopia’s client from the official website.

A screenshot of Utopia Client

Utopia is a P2P network where each user participates in data transmission. Utopia rewards users that support the network through mining by emission of new cryptocurrency called “Cryptons”. Mining and earning Crypton is an easy process, all what you have to do is just install the client and leave it running in the background. The client dose not assume any CPU resources it only uses the computer memory to operate.

A screenshot of Utopia Chat Rooms

At the time of writing, there are over 7000+ miners on the network. The current mining reward is 0.0128 Crypton per thread that is generated every 15 minutes.

Some screenshots of Utopia P2P Client:

Playing chess
Sending files through Utopia
Using Utopia’s Browser
Using Utopia’s uMail

We will be covering the mining process and other Utopia’s features on future articles.

To learn more, please check Utopia Official Website: https://u.is

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