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#CryptoCorner: Softbank's SBC Wallet Card to Feature Built-in Blockchain Wallet, Cisco (NasdaqGS: CSCO) Approved for Blockchain Platform Patent, South Africa's Central Bank to Impose New Regulation on Crypto

 

Point Roberts, WA and Delta, BC - December 2, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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https://www.investorideas.com/Audio/Podcasts/2019/120219-CryptoMarket.mp3

#CryptoCorner: Softbank's SBC Wallet Card to Feature Built-in Blockchain Wallet, Cisco (NasdaqGS: CSCO) Approved for Blockchain Platform Patent, South Africa's Central Bank to Impose New Regulation on Crypto

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Softbank's SBC Wallet Card to Feature Built-in Blockchain Wallet, Cisco Approved for Blockchain Platform Patent, South Africa's Central Bank to Impose New Regulation on Crypto and Exchange CryptoBridge Closing Due in Part to Regulations

Stocks discussed: (TYO:9984) (NasdaqGS:CSCO)

Softbank (TYO:9984) has announced the SBC Wallet Card (Softbank Card 3.0), a debit card featuring its own encryption system and built-in blockchain wallet. The press release emphasizes the user-friendliness of the card, indicating that users can switch between fiat and digital currency with simple left and right buttons. The press release further boasts that "the legal currency storage function, credit card function and electronic payment service eliminate the time for block confirmation and realize the function of timely redemption and payment". Softbank's SBC Project Leader commented:

"We are not doing simple cards, but are creating a flexible and faster life of the application scene and the future of payment integration. The SBC we built does not close to other encryption cards. You'll know the black technology only after you used it."

CoinDesk reports that Cisco (NasdaqGS:CSCO) has won a patent for a "blockchain platform that can be natively integrated in wireless networks". The platform is made for data session management between networks and a connected device "such as a phone or laptop". An excerpt from the patent filing reads:

"This service-oriented architecture supports network slices, which employ an isolated set of programmable resources that can implement individual network functions and/or application services through software programs within a respective network slice, without interfering with other functions and services on coexisting network slices."

South Africa's central bank, The South African Reserve Bank (SARB), is planning new regulations surrounding the use of cryptocurrencies, according to local outlet BusinessReport. Set to take effect in the first quarter of 2020, the regulations are aimed at curbing evasions of current currency control regulations in the country. South Africa's largest blockchain community, SA Crypto, said in a statement:

"The implications of the Sarb clamping down on cryptocurrency use for the purpose of stricter capital controls are far-reaching and alarming."

Decentralized crypto exchange CryptoBridge has announced that it is closing due to factors including regulation. Deposits will be closed on December 3 while withdrawals will still be open until December 15. An excerpt from the statement reads:

Ever since we entered the market, our vision was to provide a gateway to decentralized crypto trading. Our primary goal was to connect users and traders of crypto assets with new state of the art projects and to consistently provide superior service.

We put in a lot of hard work and did everything in our power to make the outcome different, but market conditions, increasing regulation, inability to fund further development and maintain operations forced us to make a difficult decision

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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