Weekly Cryptocurrency Bytes -28th July

Who suspends a 4.6 million dollar lunch with the Sage of Omaha? A guy who supposedly has kidney stones. The eBay auctioned lunch with Warren Buffet was postponed and we were looking forward to seeing who else would be on the list asides from Etoro founder, Yoni Assia who had confirmed attendance. Or, was the lunch cancelled by Buffet, we hope not.

At least we got interesting news about the possibility of a currency switch in Palestine and Bitcoin taking flight. Plus, a US Presidential aspirant fundraising using Bitcoin.

Currency Swap

In a report from July 22, the Palestinian prime minister, Mohammad Shtayyeh, confirmed that the Palestinian government is considering replacing Isreal’s Shekel, which is currently used in Palestine, to cryptocurrency.

The prime minister revealed that the Palestine government had analyzed the considerations needed to replace Isreal’s Shekel with cryptocurrency and would be taking steps to block every possible roadblock that Israel may bring up with regards to this new development.

Fly With Bitcoin

Norwegian Air will begin accepting Bitcoin payments soon. This is in line with the co-founders’ plans to open up their own cryptocurrency exchange. According to a Norwegian Air senior executive, the exchange would be launched first. Followed by a cryptocurrency payment system for airline customers to make payments using digital currencies.

Bitcoin for US President

Humanity Forward Fund, a political action committee supporting American Presidential candidate, Andrew Yang, has begun accepting Bitcoin contributions through the Lightning network.

The Bitcoin fundraising program themed  “21 Days of Bitcoin for the 21st Century”, was launched on July 25. According to information on their website, the program would continue accepting Bitcoin contributions up until August 14.

Blockchain Aids Finance for The Unbanked

A bank in the Philippines, Union Bank successfully piloted a blockchain-based cross-border transfer from Singapore to the Philippines. The pilot was executed in collaboration OCBC bank in Singapore.

Iran Endorses Cryptocurrency

The Iranian government economic commission has placed a seal of approval on cryptocurrency and Bitcoin mining in Iran. The approval is an exciting milestone because prior to the approval there had been a pseudo ban on cryptocurrencies last year with the intention that the action would strengthen the crumbling economy.

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