CoinGeek Pulse Episode 89: GBC22 in Dubai, Blockchain Tech Updates in China, and Luxury Brands Join Web3


The CoinGeek Pulse is back after the success of the highly anticipated BSV Global Blockchain Convention (GBC) at Grand Hyatt Dubai last week. The three-day convention brought together blockchain leaders and digital asset experts at one event, where they were joined by over 1,000 attendees and 100 participating companies from around the world.

Highlighting the latest industry developments, GBC also focused on the technical capabilities of the BSV blockchain as a scalable, secure and efficient public blockchain that could and would advance many government and corporate projects and initiatives providing low-cost and more efficient services. for consumers. Check out all the latest announcements and product launches that took place during the convention here.

Speaking of advancing states and nations through blockchain technology, the Supreme Court of China is pushing for the integration of blockchain into its judicial system. In its attempt to pursue mass adoption, the Supreme People’s Court of China released a proposal outlining how blockchain can accelerate the transformation of the local justice system. He said blockchain could help promote the deep integrated development of smart rule of law and technology.

The proposal notes the role of blockchain in consolidating judicial credibility, facilitating social governance, preventing and resolving risk, and promoting high-quality development. The Judiciary Blockchain also aims to connect to the blockchains of other government agencies, such as social services, law enforcement, and industry regulators. China’s High Court plans to transfer all its judicial operations to the blockchain by 2025.

From Latin America to Latin America, here are the latest industry regulatory updates. CHOICE, a consumer advocacy group, has submitted a draft regulatory framework targeting digital currency trading to the Australian Treasury. The group is calling on the government to provide better protection for investors in digital assets at the federal level – against misleading advertising, preventing fraudulent payments, and reimbursement when it happens. CHOICE also called for a single definition of digital currency for regulations.

In October 2021, the Senate Committee for Australia as a Technology and Financial Center released recommendations on how to regulate digital currencies in the country.

Meanwhile, in a 40-12 vote, the Paraguayan Congress passed a bill regulating the mining, trading and custody of digital currency. The bill recommends legal and financial safeguards for individuals and organizations involved in digital currency-related functions. The legislation also imposes restrictions on electricity expenditure and taxation. Due to its low electricity tariffs and favorable tax rules, the Latin American country is positioned to be a center for mass digital currency adoption in the region.

Web3 tastes luxury. Prada launched its Timecapsule NFT collection with 100 gender-neutral shirts designed by artist Cassius Hirst. Shirts come with an NFT gift featuring the unique serial number of the physical item. According to media reports, those who purchased the physical items from the same collection in 2019 will soon receive an NFT gift from the luxury brand.

Gucci is also exploring the Metaverse through Gucci Town on Roblox. The virtual plaza offers a series of experiences, including mini-games, art exhibits, and purchases of Gucci digital items to equip Roblox avatars. The brand’s experimental creativity on the Metaverse will soon produce Gucci NFTs and other Web3-based marvels.

A painting by Pierre-Auguste Renoir, the French impressionist artist of the 1900s, is now on sale along with its digital twin. The painting, “Gabrielle in the Mirror”, depicts Renoir’s nanny Gabrielle with a painting of her third child Coco in the background. BSV blockchain-based platform Buzzmint revealed the $3 million reserve price for the painting and its digital twin to GBC last week.

To rewatch the three-day convention and watch highlights from the recent CoinGeek Bitcade in Miami, visit the CoinGeek YouTube channel.

Watch the BSV Global Blockchain Convention Dubai 2022 Day 1 here:

Watch the BSV Global Blockchain Convention Dubai 2022 Day 2 here:

Watch the BSV Global Blockchain Convention Dubai 2022 Day 3 here:

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