From US Govt. Running It’s Own Node to Walmart Patenting For Own Cryptocurrency: This Week’s Crypto News

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– US Government Intends To Run Its Own Node.

The world’s largest economy, the United States has announced that they would be hiring third party contractors to run themselves a node in the blockchain!

Walmart Cryptocurrency
Walmart Cryptocurrency

Well, this step by the government could be positive and daunting too. When considered joining the blockchain, it may seem like supporting the technology and at the same time, can be seen as monitoring much into the transactions happening. As the clear intentions weren’t known, this is what it said for now: 

To support its efforts to monitor risk, improve compliance, and inform commission policy concerning digital assets.

Further, the advertisement for contractors read:

The [SEC] intends to award a firm-fixed-price contract by FAR Subpart 13.5 in conjunction with FAR Part 12, Acquisition of Commercial Items, for a commercially available enterprise-wide data subscription for blockchain ledger data by the attached requirements list.

At present, it’s known to run nodes on BTC, ETH, and XRP.

– Walmart May Invent Its Own Cryptocurrency!

Following the social media giant Facebook, Walmart, the retail giant has unveiled its plans for inventing its own cryptocurrency. This was known to be used in its thousands of stores across and will be pegged to USD as a stable coin.

Its patent says:

[The] method includes: generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain; buying or paying the one digital currency unit.

The digital currency may be pegged to the US dollar and available for use only at selected retailers or partners. In other embodiments, the digital currency is available for use anywhere. The digital currency can provide a fee-free, or fee-minimal place to store wealth that can be spent, for example, at retailers and, if needed, easily converted to cash,

Besides these, the other big things in the industry include, Iran legalizing the crypto mining and China now officially declares Bitcoin as an asset, which has a store of value that can be held as gold. 

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