Blockchain

On Monday, May 11, 2020, a Bitcoin event is set to take place that could affect the entire world of cryptocurrency. The event is scheduled, and it's happened before. The event will automatically cut the reward given to Bitcoin miners for completing Bitcoin transactions. In essence, it'll be more difficult for people to profit from running computers to earn Bitcoin. The effect this will have on the value of Bitcoin is yet unknown.

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Facebook's plans to launch its very own cryptocurrency was met with heavy opposition last week, as CEO Mark Zuckerberg's Libra proposal to Congress was hijacked into a hearing of the company's past mishandling. To put it briefly, the social media company's involvement in the Cambridge Analytica and election controversies had broken its trust with authorities. Without a clear structure for regulation, there are concerns that Zuckerberg's new Libra project could undermine the national dollar, as well as contain loopholes for criminals to exploit.

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In May of this year, IRS Commissioner Charles Rettig made a comment about releasing future guidance on the taxation of cryptocurrency in the USA. Today that guidance was revealed. This is the first guidance released by the IRS on this subject since their relatively thin set of comments on the matter all the way back in the year 2014. A lot has changed in cryptocurrency since the year 2014, including the two most major rises and falls of Bitcoin since the dawn of the blockchain.

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Cryptocurrencies have always been regarded with skepticism and suspicion ever since Bitcoin started hitting mainstream news. It has gained more momentum and support around the world but, unsurprisingly, governments are more cautious about officially acknowledging the technology. The latest to join those voices is none other than US president Donald Trump who, in a series of tweets, expressed his dislike of Bitcoin and its kin and also took the opportunity to bring up Facebook's new Libra "virtual currency".

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This morning, Facebook confirmed some long-running rumors by announcing that it's about to dive into the world of cryptocurrency. That cryptocurrency is called Libra, and it'll launch next year alongside a digital wallet called Calibra. Calibra will be a subsidiary of Facebook, while Libra will be governed by the Libra Association, an organization comprised of a number of different companies (including Facebook and Calibra) that's headquartered in Geneva, Switzerland.

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While Google and Mozilla are fighting over becoming the web browser on all platforms, Opera is fighting a different battle. It is waging war against the institutions and companies that would steal people's information from under their noses. That isn't just science fiction and it's pretty much the reality that the likes of Facebook have slapped in our faces. That's why the browser maker is rolling out Opera version 60, codenamed "Reborn 3" to fight that good fight using blockchains, Crypto Wallets, and Web 3.0.

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The hype and scandals around blockchain and cryptocurrencies may have died down a bit but some companies are far too invested in it to leave things as they are. HTC is perhaps one of the oddest proponents, having committed its phone-making resources to support blockchains and the Web 3.0 movement. Now it is taking one step further to make its HTC Exodus 1 blockchain more accessible to the masses by putting it on sale for real, physical money.

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The first of the partners were tipped teaming up with the Samsung Blockchain Keystore this week just days after the big Galaxy S10 event. Details leaked in promotional images and from sources apparently speaking directly to Samsung's higher-ups in South Korea. One of the biggest of these tipped groups was the gaming-focused Enjin. Enjin Coin is a smart cryptocurrency (not unlike most cryptocurrencies) that "fuels" tokenized gaming assets.

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The FDA is exploring innovations that could help it track drugs, including blockchain, and it has a new pilot program to test them out. The agency revealed its pilot program in an announcement today, explaining that drug manufacturers, stakeholders, repackagers, and others can test the "emerging approaches" to verifying and tracing prescription drugs in the United States.

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Interest in the world of cryptocurrency might well get a boost thanks to Samsung's next smartphone. In this next-generation smartphone, it's been revealed that Samsung MAY be releasing its own cryptocurrency wallet. This wallet was teased today as having the ability to act as a "secure and convenient place for your cryptocurrency."

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Coinme, a company that offers bitcoin ATMs, has teamed up with Coinstar to make it easier to get your hands on the digital currency. Under the new partnership, Coinstar machines will allow users to swap their cash for bitcoin, bringing the cryptocurrency to one's local grocery store or convenience shop. After inserting money into the machine, Coinstar users get a voucher for bitcoin.

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Ohio has become the first state to accept tax payments in the form of Bitcoin. The cryptocurrency, though not as valuable as it once was, continues to be a popular cash alternative; it's accepted by a number of online retailers and now, in at least one state, as a currency for paying tax debt. The new support went live today and covers 23 different tax debt categories.

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