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US Treasury to Complete PoC of Blockchain-Based Grants Payment System

The United States Treasury Department has almost completed tests of a blockchain-based grants payment capability as part of the exploration of how the tech can improve such operations.

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The United States Treasury Department has almost completed tests of a blockchain-based grants payment capability as part of the exploration of how the tech can improve such operations.

As the Business of Federal Technology reported on Jan. 10, the Treasury Department launched a program designed to discover whether blockchain could provide more efficiencies into the operations of a blockchain-based grants payment system. Currently, the agency has almost completed a Proof-of-Concept for a blockchain-based letter of credit for federal grant recipients.

More efficient tracking

Describing the principle of the program’s operation, Craig Fischer, innovation program manager at the agency, explained that the platform tokenizes electronic federal letters of credit sent out to grant recipients, thus helping trace the distribution of the grant payments and making the transaction more secure. The tracking feature also enables the government to see data such as recipient identification, grant amount and key dates like when it was awarded.

To receive a tokenized letter, the recipient would need to have an electronic wallet associated with a bank account. The tests are expected to be finished by the end of January.

Blockchain in transactions and products tracing

Blockchain has been widely used to track transactions and products. Earlier in January, IBM and Farmer Connect – an organization committed to increasing transparency and sustainability in agriculture supply chains – demoed a blockchain-based app that allows consumers to learn about the coffee beans they purchase. The mobile app provides consumers with an interactive map to show the journey of their coffee by scanning a QR-code.

Last December, the second-largest power utility in Japan, the Kansai Electric Power Co Inc (KEPCO), extended its trial of a blockchain-powered system for transacting renewable energy credits.

A study from Cointelegraph Consulting and Swiss enterprise blockchain firm Insolar as of last December showed that blockchain technology could reduce supply chain-related costs for businesses between 0.4% and 0.8%.

Source: https://cointelegraph.com/news/us-treasury-to-complete-poc-of-blockchain-based-grants-payment-system#new_tab?utm_source=rss&utm_medium=rss&utm_campaign=us-treasury-to-complete-poc-of-blockchain-based-grants-payment-system

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Bitcoin Futures ETF is so popular that it’s breaching futures limits set by TradFi

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Deposit and Earn Up to $3000 Bonus

The first US Bitcoin (BTC) exchange-traded fund is rapidly getting close to breaching a limit on the number of futures contracts it is permitted to hold, Bloomberg reported.

Just days after launch, the ProShares Bitcoin Strategy ETF (BITO) already owns nearly 1,900 contracts for October, and Chicago Mercantile Exchange (CME) limits the number of front-month contracts to 2,000.

Record trading volume

After two days of trading, the fund already had more than $1 billion under management, read the report.

The Bitcoin Futures ETF amassed 1,400 November contracts in order to avoid breaching the limit, but judging by the unprecedented early volume, BITO could soon hit the maximum total position of 5,000 contracts.

The launch of competing products, such as Valkyrie’s and VanEck’s Bitcoin Strategy ETFs, could ease the demand for BITO.

One solution to avoid hitting the limit would entail BITO to spread out its holdings into longer-dated contracts, but that poses a risk of further distancing the fund from the performance of Bitcoin.

“The end result is the ETF will start taking on potentially significant tracking error versus the spot price of Bitcoin,” president of advisory firm The ETF Store, Nate Geraci, told Bloomberg.

“The ETF is forced to obtain Bitcoin price exposure at higher and higher prices as it goes further out on the futures curve,” he explained.

Spot-based Bitcoin ETFs to the rescue

“The unprecedented early volume in BITO makes it like a snowball rolling downhill, as liquidity and assets beget more liquidity and assets,” according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, who commented for the report.

“The new ones will have some selling points such as only holding the front month or being cheaper and that will help, but it is nearly impossible to steal volume in the short or medium-term,” he added, arguing that the momentum behind the ProShares fund will be hard to stop.

According to Balchunas, BITO’s success and “the clear issue of the potential capacity of futures“ may prompt the SEC to speed up the approval of Bitcoin spot ETFs.

“That certainly would do the trick in slowing down BITO and providing a release valve for futures demand,” he added for the report.

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Source: https://cryptoslate.com/bitcoin-futures-etf-is-so-popular-that-its-breaching-futures-limits-set-by-tradfi/

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Pokémon GO November Planned Events

Here’s a breakdown of the planned November 2021 events for Pokémon GO.

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Here's a breakdown of the planned November 2021 events for Pokémon GO.

Here’s a breakdown of the planned November 2021 events for Pokémon GO. / Photo courtesy of Niantic

In addition to Research Breakthrough encounters, Mega and 5-Star Raids, and Spotlight Hours, November appears to be another promising month for Pokémon GO with four planned events on the way.

Here’s a breakdown of the planned November 2021 events for Pokémon GO.

Niantic published the full list in its official news blog post detailing all the upcoming events of November 2021. More details for these events are said to be coming soon, but here’s what we know about the roadmap so far.

From ​​Friday, Nov. 5, to Sunday, Nov. 14, Niantic will be inviting trainers to celebrate light overcoming darkness with an all-new event called the Festival of Lights.

Similar to last year’s first-ever Day of the Dead special event for trainers in Latin America, Pokémon GO will be hosting a Día de Muertos special event for trainers around the world from Monday, Nov. 1, to Tuesday, Nov. 2.

Pokémon GO will also be having a Brilliant Diamond and Shining Pearl Celebration Event to commemorate the launch of the upcoming titles from Tuesday, Nov. 16, to Sunday, Nov. 21.

Lastly, the Season of Mischief will reportedly close out with an “epic” event that has yet to be revealed. From Friday, Nov. 26, to Monday, Nov. 29, trainers who completed the Misunderstood Mischief Special Research story will be able to unlock a Special Research story where they will have an opportunity to “learn more” about Hoopa.

For more on Pokémon GO, feel free to check out our coverage of the November Community Day reveal, and the October Limited Research.

Source: https://www.dbltap.com/posts/pokemon-go-november-planned-events-01fjq8c3zf4d?utm_source=RSS

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Pokémon GO November Spotlight Hours Revealed

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

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Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO. / Photo courtesy of Niantic

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

Spotlight Hour has rapidly become a fan-favorite weekly event for Pokémon GO trainers. For an hour each week, Niantic picks a Pokémon to take over the wild with an increased spawning rate. Not only does this provide a chance for trainers to catch rarer Pokémon and fill out their Pokédex, but it also occurs at a local time instead of at a set time across the world — making it extremely convenient for trainers whether they reside in New York City or Tokyo.

Niantic published the full list in its official news blog post detailing all the other events of November 2021. On top of weekly raids featuring Unova Legendaries such as the Swords of Justice — Cobalion, Terrakion, and Virizion — alongside a Community Day event with Shinx, trainers can look forward to their usual weekly Spotlight Hour programming.

Spotlight Hour will take place every Tuesday in November from 6 p.m. to 7 p.m. local time. There are five Tuesdays in November, during which trainers can expect to see the following Pokémon and special bonuses:

For more on Pokémon GO, feel free to check out our coverage of the November Community Day reveal, and the October Limited Research.

Source: https://www.dbltap.com/posts/pokemon-go-november-spotlight-hours-revealed-01fjq7d3vkq5?utm_source=RSS

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