Pyongyang university is now offering crash courses in Bitcoin and other crypto currencies in order to educate the youth of country about the potential of Bitcoin and Blockchain technology in general.
North Korea has always been accused as a country which is targeting Bitcoin for all the illegal activities, recently US and some other countries accused North Korea for hacking and stealing Cryptocurrencies. Pyongyang university is one of the leading universities of North Korea and probably the only university with International exposure. According to the latest media reports, Pyongyang university is now offering crash courses in Bitcoin and other crypto currencies in order to educate the youth of country about the potential of Bitcoin and Blockchain technology in general.
It’s the fist real evidence from country that North Korea is taking Crypto market seriously and despite of all the tension with International community, North Korea wants education regarding this technology from International experts.
Earlier in November, Federico Tenga, the Italian founder of bitcoin startup, Chainside, traveled to Pyongyang to teach more than three dozen of the country’s elite students about bitcoin and the blockchain technology. Tenga spent a week at the the Pyongyang university, during which he gave five 90-minutes lectures to a class of 40 students between the ages of 20 and 25, as well as an extra seminar to faculty members.
Tenga was given internet access while at the university which let him access the sites like Twitter and Google, although he’s almost certain his online activity was being monitored.
Despite of all the good things that North Korea is doing regrading adoption of Blockchain technology in the country, there are still many concerns by International community on how country will use Cypto currency because earlier US based Cyber security company Fireye reported that North Korean hackers targeted South Korean Bitcoin Exchanges in a major cyber attack targeting Bitcoin and other cypto currencies, but it will be interesting to see how things shape up in one of most dangerous countries in the world.
Is Toronto Next to Accept Bitcoin for Property Taxes?
Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.
Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.
Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.
Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned
“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”
“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.”
He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”
Morning Crypto Roundup
- Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
- Bitcoin stays above $10,000
- Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
- After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
- According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share