South Korea Will Print Blockchain-Based Digital IDs in 2024 on Crypto This Week
What Happened in the Crypto Industry & NOBI Over The Last Week?
Hi NOBI’s! We are finally in the third week of October. This past week, a lot of fresh air has blown over the crypto industry. One of them comes from South Korea, which is ready to print blockchain-based ID cards in 2024. In addition, there is also news from the prestigious Ballon d’Or Award, which this year has an NFT prize! Then, what else? Let’s take a look at what’s new and interesting we have for you!
1. Keep Innovating, South Korea Will Print Blockchain-Based Digital IDs in 2024
To boost blockchain adoption, South Korea will soon allow its citizens to use blockchain-based digital identification (ID) or ID cards instead of using physical cards. This plan will begin to be implemented in 2024. Reportedly, this innovative step was taken because South Korea claimed to want to embrace blockchain technology.
According to an October 17 report from Bloomberg, the government plans to see embedded digital IDs as applications in mobile devices in the future. In addition, this ID will also work in a way that is not much different from a physical ID card.
2. South Africa Legally Declares Crypto Assets as Financial Products
After a long time, the South African government has finally recognized crypto assets as financial products. This was disclosed by the Financial Sector Conduct Authority (FSCA) which declared that crypto assets are financial products under the Financial Advisory & Intermediary Services Act.
On the other hand, asset class classification in virtual assets will indirectly encourage the growth of a better ecosystem. The reason is that the government and related institutions can more easily make decisions or launch product innovations for business development.
3. Rio de Janeiro Brazil to Allow Citizens to Pay Property Taxes in Crypto from 2023
The Government of the City of Rio de Janeiro has recently taken a decision that can bring fresh air to the crypto industry. One of the cities in Brazil is planning to accept crypto assets as a means of payment for property taxes starting in 2023.
This decision was published on Tuesday (11/10). With this decision, Rio de Janeiro became the first city in Brazil to accept crypto assets for tax payments. The good news is that it is possible that the city will also receive more types of crypto assets for tax payments over time.
4. Mastercard Launching New Program To Help Banks Offer Crypto Trading Services
The relationship between conventional banking institutions and crypto assets has recently gotten thicker. Banks that initially considered crypto as a new asset class that would disrupt the financial sector are now going hand in hand. Not to be missed, Mastercard, which is a payment network company that has been associated with banks, has also colored the journey between the two.
The new program, known as Crypto Source, will take the form of crypto trading for banks, where it will be possible for financial institutions to bring crypto trading capabilities and services to their customers.
5. For the First Time In History, The Prestigious Ballon d’Or Award of the Year Awarded NFT!
For the first time in history, the winners of football’s most prestigious Ballon d’Or 2022 award receive digital tokens to accompany their trophies. The France-based award is run by media group Equipe, which has honored the best players for 66 years and awarded them global recognition and a trophy in the shape of a golden ball.
But apparently they really want something different this year. The organizers offer various digital tokens such as free NFT for the winners, as quoted from the Economic Times some time ago. And what’s unique is that, through the official page at www nft.ballondor.com, starting on 23 October 2022, you can also buy the NFT Ballon d’Or in a different series!
That wraps up for Crypto This Week. We’ll see you at the next one!
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