Weekly Blockchain News, October 4, 2021

Welcome back in the weekly summary of leading developments in the crypto/blockchain space, presented from Billon's point of view. Check what happened in the last days when it comes to CBDC and other enterprise uses of blockchain. Enjoy the read!

A hamster has been trading cryptocurrencies in a cage rigged to automatically buy and sell tokens since June - and it's currently outperforming the S&P 500.  A hamster named Mr. Goxx has been trading cryptocurrencies in a rigged box since June. The hamster determines which crypto to buy or sell by running on a wheel and strolling through one of two tunnels. Since it started trading on June 12, Goxx's crypto portfolio returned 24% as of Friday.

Snoop Dogg partners with virtual blockchain world Sandbox. Following the American rapper Snoop Dogg doxing himself as a crypto whale with millions of dollars worth of non-fungible token (NFT) assets, Snoop has revealed he has partnered with the virtual gaming world Sandbox. According to the announcement, Snoop is recreating his mansion in Sandbox and will be launching his new NFT collection.

Elon Musk says U.S. government should avoid regulating crypto.  “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in Beverly Hills, California. “I think there’s some value in cryptocurrency, but I wouldn’t say it’s the second coming of the Messiah" - he added.

Revolut to launch crypto token, according to two people with knowledge of the plans. The fintech working on something like an exchange token, such as Binance’s BNB, as opposed to creating a stablecoin. The timing is subject to approval from the U.K.’s FCA and launch plans are focused on Europe and other locations outside the U.S. for the time being.

Central banks see risks in government-backed digital currencies. Digital currencies backed by central banks might become a preferred safe haven during a future financial crisis, potentially aggravating runs at commercial lenders. That’s one possible financial-stability hazard raised in a series of reports by global central banks including the U.S. Federal Reserve, Bank of England, European Central Bank and Swiss National Bank, among others.

New Zealand central bank releases issue paper on digital currency. The Reserve Bank of New Zealand published an issue paper providing its perspective on central bank digital currencies (CBDC). The paper outlines CBDC purposes, designs, as well as the potential benefits and associated risks. The bank will be seeking comments on the proposed paper until Dec. 6.

Visa working on blockchain interoperability hub for crypto payments. Visa has introduced a project that aims to be a “universal adapter” of blockchains that can connect multiple cryptocurrencies, stablecoins as well as central bank digital currencies. According to an official announcement on Thursday, Visa’s research team is working on a “Universal Payment Channel” (UPC), a blockchain interoperability hub connecting multiple blockchain networks and enabling transfers of digital assets from different protocols and wallets.

Ed Sheeran to use blockchain for his next concert in France.  The singer returns for a concert at the Stade de France in July next year and on this occasion, his fans will have the opportunity to test a new ticketing system. The pop star will use blockchain technology to deal with the black market and its abuses

And that's it for now. See you next week!