#CryptoCorner: Alibaba (NYSE: BABA) Has 2 Blockchain Patents Approved in the US, Japan's JCB Enters Agreement with Paystand
Bitfinex Launches Credit and Debit Purchases for Crypto
Point Roberts, WA and Delta, BC - December 23, 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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#CryptoCorner: Alibaba( NYSE: BABA) Has 2 Blockchain Patents Approved in the US, Japan's JCB Enters Agreement with Paystand
Stocks discussed: (NYSE:BABA) (NYSE:IBM) (NYSE:BAC)
According to a report from CoinDesk, Chinese internet and tech firm Alibaba (NYSE:BABA) recently had two blockchain-related patents approved by the U.S. Patent and Trademark Office (USPTO). The report indicates that "one patent aims to reduce the time to verify block data, while the other is designed to help participants set a validity period for a transaction in a blockchain network". Chinese blockchain outlet Chain News writes that Albaba is "leading the industry in patent strength, ranking among the top three in the "2019 Blockchain Patent Comprehensive Strength List", and the CoinDesk report states:
Japan-based credit card giant JCB Co., Ltd. has entered into an initial agreement with blockchain payments platform Paystand "to provide the first end-to-end digital payment platform for Japanese enterprises and JCB customers", according to a recent press release. Paystand CEO Jeremy Almond commented:
"The challenges faced by B2B companies across the globe are similar: they are burdened by a commercial payment infrastructure mired in pre-internet technology. As a result, they are saddled with a legacy system rife with costly transaction fees, manual processes, and delays. Our relationship with JCB is yet another indication that enterprises in all markets are demanding easy, secure, frictionless business payments that leverage digital technology. JCB is an iconic, globally recognized brand in financial services and we are excited to partner with them to introduce better business payment technology to their customers and other companies throughout Japan and Asia.."
A new bill has surfaced in the U.S. Congress called the Crypto-Currency Act of 2020, which is aimed at bringing clarity to the regulatory status of cryptocurrencies. An article from Forbes on the subject indicates that the bill's "stated purpose is to clarify which Federal agencies regulate digital assets, to require those agencies to notify the public of any Federal licenses, certifications, or registrations required to create or trade in such assets, and for other purposes".
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