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Spain’s Tarragona Port Seeks to be Blockchain-Powered

Spain’s Tarragona port, Autoridad Portuaria de Tarragona, wants to be among the premier ones to be blockchain-enabled. This approach is being prompted by the port’s urge to ease complex processes through this technology.

Josep Maria Cruset, the port’s president, asserted that blockchain has emerged to be a reckoning force in the modern age as it is among the emerging technologies. As a result, it will be helpful in completely altering logistics.

Similar sentiments have been echoed by David Gonzalez, the port’s Director of Information Systems, as he stipulated that blockchain technology was transformative.

Gonzalez proclaimed:

“The blockchain saves time, reduces costs, increases trust, and presents advantages such as transparency, immutability, traceability, efficiency in the process, and a lower percentage of errors.”

The top management at the port believes that blockchain technology will be instrumental in satisfying the present social development and economic needs. As a result, it should be adopted promptly for optimal results. Blockchain technology is continuously reigning supreme in different sectors.

Previously reported, the Real Estate Institute of Queensland (REIQ) recently collaborated with Igloo, an Australian technology firm, to set up a tenancy agreement program that will be founded on the blockchain technology. This is intended to happen by the end of 2019. This partnership aims to transform Australia’s real estate sector.

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BME Rolls Out Blockchain-Powered Collateral Pledge Certificates

BME, a Spain-based stock market operator, has established a service dubbed BE DLT-Preda that deploys blockchain technology in the digitization of collateral pledge certificates—eradicating the need for physical documents.

BE DLT-Preda was developed by the DLT-Lab of BME, a laboratory that analyzes and explores blockchain technology in collaboration with financial institutions and all BME fields.

This service has attracted some participants, such as Renta 4 Banco, a financial institution specializing in investment products and services, because it has already registered the first digital collateral pledges via blockchain.

Blockchain Offers Procedural Digitization

The new approach has been tested for nine months, and it entails procedural digitization and offers real-time information access to all participants.

By leveraging blockchain technology, the time required for the constitution of a pledge is significantly reduced from 24 hours to, at most, 10 minutes.

Participants are also rendered with benefits, such as efficiency and minimized risks. This is because they can directly access the information required in the validation of transactions linked to the constitution of the pledges.

BME’s general manager, Berta Ares, acknowledged: “The new development is the result of BME’s commitment to innovation and digitalization as the main ways of providing value in the financial industry.”

The blockchain-powered collateral pledges are expected to enhance productivity by reducing the time spent and unnecessary paperwork.

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Spanish Renewable Energy Firm Partners with Climate Blockchain Initiatives to Boost Carbon Offset Sales on Blockchain

Acciona, a leading Spanish renewable energy company, has joined hands with Climate Blockchain Initiatives (CBI), a Valencia-based startup, to boost the sale of its carbon offsets using the latter’s blockchain-powered trading platform. CBI leverages on blockchain technology to undertake faster and easier commercial transactions between buyers and vendors by eliminating intermediaries.

Blockchain-enabled carbon offsets

Carbon offsets are touted to reduce climate change as they prompt the minimization of carbon dioxide emissions or other greenhouse gases so that compensations can be made. As a result, whenever they are purchased, projects intended at reducing greenhouse gas emissions are funded.

This concept is what the partnership intends to expand by using blockchain. Acciona, therefore, aims at placing its own Certified Emission Reduction (CER) credits on CBI’s blockchain platform and integrate them into various renewable power projects located in developing nations, such as Costa Rica, Chile, and Mexico.

Through the strategic collaboration, Acciona strives to reduce the time taken to sell its carbon offsets from the more than two months it uses on some platforms to just 48 hours on CBI’s blockchain network. This will be pivotal in enabling the renewable energy company to fight climate change by reducing greenhouse gas emissions, such as carbon dioxide.

Tracking carbon emissions through blockchain

Blockchain is being viewed as a game-changer in many spectrums, and fighting climate change and climate change debate could be a few reasons. Notably, blockchain-powered carbon trading platforms have come up, as evidenced by the partnership between Acciona and CBI. As a result, they are being embraced across the globe.

For instance, in November 2019, AirCarbon Pte, a Singaporean exempt private company, established the first-ever blockchain-powered carbon trading exchange (CTX) that will permit corporate buyers and airlines to sell and purchase tokens subsidized by carbon offset credits.

Moreover, in January, Mercedes Benz teamed up with Circular, a blockchain startup, to track carbon emission in the cobalt supply chain.

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Spanish Researchers Deploy AI and Blockchain-Powered App to Tame COVID-19

At least 100 Spanish researchers from the University of Salamanca, the Artificial Intelligent Research Institute, and the Institute of Biomedical Research of Salamanca have joined hands to design an artificial intelligence (AI) and blockchain-based app to picture the evolution of the coronavirus (COVID-19) pandemic. Their objective is flattening this pandemic’s curve as it has wreaked havoc across the globe.

Blockchain to offer digital identities

It is no longer a doubt that COVID-19 is one of the toughest challenges humanity has ever faced. So far, Spain has emerged as one of the hardest-hit nations with over 19,000 deaths.

The team of Spanish researchers led by Javier Prieto and Juan Manuel Corchado, both members of the Institute of Electrical and Electronics Engineers (IEEE), seek to change this narrative by availing relevant information about the pandemic, as well as the evolution of the virus.

With the help of blockchain technology, the app will enable the researchers to check whether people are adhering to precautionary measures like social distancing. This will be attained by issuing licenses and creating digital identities whenever people are going to the supermarket or work. The licenses will hold private keys in place of paper certificates given to the citizens by the government.

AI will be instrumental in generating hybrid neuro-symbolic algorithms to predict the evolution of coronavirus pandemic based on patient information like medical treatments and genetic profiles.

Blockchain to assist in future epidemic tracking

People will be required to download the app to authenticate whether they are following the quarantine and social distancing measures.

Both Prieto and Corchado noted, “The technology will be able to support healthcare professionals and public health officials by providing them with information that can be used when making decisions. For example, if the data shows an increase in COVID-19 cases, officials can decide whether to shelter-in-place.”

By deploying both AI and blockchain technology, the researchers seek to track COVID-19 so that they can predict future pandemics and epidemics. For instance, they are keeping a close eye on microorganisms that have a likelihood of triggering the next healthcare crisis. Blockchain technology has been playing an instrumental role in curbing coronavirus in China.

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John McAfee is Having a Fascinating Time in Spanish Prison Says it's "Not That Bad"

John McAfee is having a fascinating time in Spanish prison after being arrested for tax evasion and fraud. The English-American computer engineer compared prison to the Hilton, without the turn down service.

Crypto personality, former US presidential candidate, and anti-virus software developer John McAfee sent a message to his Twitter followers sharing his experience in the Spanish prison after his arrest.

According to the post tweeted by his wife, Janice McAfee, things are not bad in the prison. The 75-year-old Millionaire told his wife that Spanish prison life is a fascinating experience

McAfee wrote:

“Hello from prison my friends. I am having a fascinating time. Spanish prison is not that bad. We can wear whatever clothes we want. We can smoke and socialize. It’s like the Hilton without turn down service.”

Through his wife, John McAfee continued explaining how he has been adapting to prison life and reported that he has even made new friends. He stated:

“My cell mate is an ambassador’s drug dealer, I wish I would have known him before. The prison yard is full of murderers but mostly nice people. I spend most of my time with my back to the wall. I miss and love you all. I will update you more when I am able.”

However, this is not the first time when McAfee has spent time in jail. In July 2019, law enforcement officials in the Dominican Republican arrested him and his team after they were found having many large-caliber firearms and weapons without proper authorized documents.

John McAfee Charged With US Tax Evasion

On October 5, the U.S Department of Justice (DOJ) charged John McAfee with failing to file tax returns and evading taxes for four years. He was arrested in Spain, and now awaiting his extradition to the United States.

The U.S Department of Justice claimed that McAfee made over $23.1 million in income through promoting cryptocurrencies, speaking engagements, consulting work, selling his life-story rights to documentaries, among other things. Despite making such a huge income, DOJ stated that McAfee failed not only to file tax returns but also to pay taxes between 2014 and 2018 and resorted to concealing assets in the names of others.

McAfee has taunted U.S authorities many times. On June 14, he created Twitter posts while in Cuba promoting BeatzCoin (BTZC) whose current value is $0.0002, saying: “Yes SEC, I’m promoting. Fucking come and get me.” In January 2019, he tweeted that he hasn’t filed a tax return for eight years because taxation is illegal.

McAfee faces a maximum sentence of four years for failing to file his tax returns and a maximum sentence of five years for each of the five counts of tax evasion.

Spain To Draft New Bill That Will Enforce Full Crypto Holding Disclosure From Citizens

Spain is drafting a bill that will make it mandatory for every crypto asset holder to disclose not just the value of their assets but also the interest earned on those assets. According to a report from Reuters, the government’s move was made known on Tuesday by government spokeswoman Maria Jesus Montero following the Executive’s weekly meetings.

“Spain’s government is preparing a bill to oblige owners of cryptocurrencies to disclose their holdings and any gains booked on the assets,” She declared “The new regulations will form part of a broader package of legislation aimed at cracking down on tax fraud.”

The proposed move by the Spanish government to focus its radar on cryptocurrency taxation follows a similar move made by the United States Internal Revenue Service (IRS) who went about cracking down on crypto tax evaders back in May.

The crypto industry has gained massive traction in recent years and with cryptocurrency-based exchanges and service providers making their entry into European markets, more users in the European Economic Area (EEA) keep embracing digital currencies, a portion of which the Spanish government is set to force masses to remit to the government.

Blockchain Stakeholders in Spain Are Driving Crypto Awareness and Adoption

The move by the government to begin enforcing cryptocurrency tax comes after Tutellus and Blockchain Observatory raised an awareness campaign to make Spanish legislators know the significant role that cryptocurrencies are playing in the transformation of the society and economic systems.

The exercise featured the receipt of 1 Euro worth of Bitcoin (BTC) to each of the country’s 360 lawmakers and the message passed has sent a strong awareness for the potential of bitcoin 9BTC) and altcoins alike.

As a dynamic industry, developers in the space have perhaps foreseen that countries will begin requesting crypto tax reporting and though the government may have their preferred reporting means, firms like Bitwala and Crypto.com have developed such crypto reporting tools for tax purposes.

Spain Bank BBVA Launches Bitcoin Trading Service in Switzerland

Spanish banking giant BBVA has announced that the financial institution launches a new Bitcoin trading service on Monday for private banking clients in Switzerland interested in digital asset investment.

The Spanish Bilbao-based bank stated that it is starting to operate its new Bitcoin trading and custody services on Monday and plans to roll out services of other cryptocurrencies soon. However, the multinational bank said that it would not provide advice on such types of investments.

After six months of testing the Bitcoin service with a selected group of users, BBVA is now making the trading available to its customers in Switzerland.

BBVA Switzerland’s Chief Executive Alfonso Gomez stated that the bank had noticed a significant appetite among investors for cryptocurrencies or digital assets to diversify their portfolios despite their high risk and volatility.

On Friday, BBVA stated the new Bitcoin trading services would only be available to customers in Switzerland because the nation has clear regulation and widespread adoption of digital assets. The bank sees Switzerland as having relatively comprehensive regulations around digital assets, set out by the nation’s Financial Market Supervisory Authority(FINMA ).

“It’s an extension to new countries, or other types of customers will depend on whether the markets meet the appropriate conditions in terms of maturity, demand and regulation,” Gomez said.

BBVA is present in Switzerland through a wholly-owned franchise focused on international banking services. The bank, an international bank in 35 countries globally, has more than 130,000 employees and serves 66 million globally.

Bitcoin Coming to Banks

Currently, an increasing number of large investment banks are showing interest in launching Bitcoin trading and custody for their customers. In April, Goldman Sachs and JPMorgan announced plans to make cryptocurrencies more accessible to the public. Last month, Citi Group revealed that it is offering crypto trading services after witnessing surging client interest.

Efforts to offer Bitcoin trading services come amid rising institutional interest in cryptocurrency. Investors and firms see Bitcoin as a hedge against inflation as central banks and governments turn on the stimulus taps.

El Salvador has become the first nation to adopt Bitcoin as a legal tender currency. However, central banks across the globe have frequently warned investors about losing their money in crypto investment.

In recent weeks, major countries like China and the US have signalled a stricter approach to cryptocurrency regulations while building their plans to create their own central bank digital currencies.

Spanish Opposition Party Partido Popular Proposes Bill Allowing Crypto Payment for Mortgage

Spain’s main leading opposition party, also known as the Partido Popular (PP), proposed a bill allowing cryptocurrency to pay for mortgage loans.

The specific bill would also establish a National Crypto Assets Committee focusing on developing the entire country of Spain using blockchain technology and cryptocurrency, despite allowing the public to use cryptocurrency to repay mortgage loans.

Partido Popular stated that all related cryptocurrency transactions would follow the principles of trust, security, and transparency.

According to the officially announced “Digital Transformation Law”, the text states that homeowners who purchase houses can use cryptocurrency to pay for mortgage loans. Industries such as real estate-related real estate developers and investors can invest digital assets such as cryptocurrency in mortgage loans pools.

At the same time, banks can also use blockchain to manage mortgages and insurance and simplify the payment of compensation in digital currency.

As early as the second half of 2020, Banco de España, Spain’s central bank, published its strategic plan to design proposals and evaluate the economic implications, including the systematic and financial risk of a central bank digital currency (CBDC) in the country over the next four years.

Spanish LaLiga League Joins Hands With Sorare to Launch NFTs for all Players

Spanish LaLiga league, the top football division in Spain whose top scorer is Lionel Messi with 474 goals, has partnered with Ethereum-based fantasy soccer game platform Sorare to establish non-fungible tokens (NFTs) for all its players.

Per the announcement on Thursday:

“LaLiga fans, collectors and fantasy football players will for the first time be able to freely trade and play with digital cards of players from LaLiga.”

This partnership is seen as a stepping stone towards creating new revenue streams for LaLiga clubs. This league is home to world-class football clubs, such as FC Barcelona, Real Madrid, and Atletico Madrid.

Sorare has a mission of collaborating with the rest of the world’s top 20 football leagues like the English Premier League (EPL) by the end of 2022.

Offering fans innovative and exciting experiences

According to LaLiga president, Javier Tebas:

“At LaLiga we are always looking for innovative ways to offer our fans new and exciting experiences and to broaden the appeal of our competition, the greatest in the world.”

On the other hand, the CEO and co-founder of Sorare Nicolas Julia stated:

“NFTs are the future of global sports fandom because they allow fans to come together and to feel ownership of the sports they love.”

Sorare is a fantasy soccer video game founded on the Ethereum blockchain that enables users to build their favourite teams and trade football player cards. These cards are limited and can be transferred as unique non-fungible tokens (NFTs). Moreover, the cards earn points on the foundation of every player’s respective real-world weekly performance.

By creating unique digital tokens and signing top football clubs to its fantasy platform, Sorare seeks to boost NFT and blockchain adoption in daily life. The football player cards used are based on blockchain technology, and they comprise built-in scarcity.

In July, Sorare sought to raise $530 million in financing to enhance its NFT adoption objective.

Spain’s Regulator Clashes with Popular Football Star Andres Iniesta Over Binance’s Tweet

Spain’s market watchdog has clashed with one of the country’s football heroes in promoting a cryptocurrency platform on social media.

Andres Iniesta, a famous football striker who scored the winning goal that made Spain win its first soccer World Cup in 2010, found himself in a heated battle with Spain’s National Securities Markets Commission. He took to Twitter to say that he was using the Binance crypto exchange.

“I’m learning how to get started with crypto with @binance,” the former FC Barcelona player wrote in his tweets on Wednesday, November 24.

The regulator then responded to Andres Iniesta after posting photos of himself using the Binance platform on social media. The National Securities Markets Commission tweeted late Wednesday, reminding Iniesta that cryptocurrencies are non-regulated products with some significant risks.

“All of this prompted us to say last night to Iniesta, whom we admire and who has given us great pleasure, please, before recommending this, tell your followers about the risks; it is your responsibility too,” the agency stated.

The watchdog clarified to the football star that it is best to read up on the risk of crypto assets before making investments or recommendations to others.

The regulator mentioned that it is concerned about players and other influencers who promote crypto assets to audiences who do not necessarily understand how the market works or what rules to be applied or not apply.

The commission urged celebrities and influencers to take care about recommending investments in unregulated products which carry additional risks to the public.

Iniesta currently plays for Vissel Kobe, the Japanese club owned by Rakuten Japanese electronic commerce and online retailing company. Iniesta representatives have not responded to comments required by media journalists.

Sports Fans Are into Cryptocurrency

Iniesta is not the only popular football star who has posted an ad for Binance. Atletico Madrid striker Luis Suarez, Colombian player James Rodriguez, and Raul Jimenez, who plays for Premier League club Wolverhampton Wanderers, all posted photos of themselves on Binance under the #BinanceForAll hashtag early this month.

The cryptocurrency exchange featured the three footballers in a post promoting a social media contest in the previous week: “Get creative with @jamesdrodriguez, @LuisSuarez9, @Raul_Jimenez9 on #Binance, and you may win.”

The three football stars have a total of 39 million followers on Twitter.

As crypto-assets exploit in value, several firms have popped up virtually to help investors buy and set digital currencies. Binance is among the biggest. Last month, Lazio became the latest Series A club to partner with Binance exchange when it struck a sponsorship deal to make the crypto firm the main club Jersey sponsor.

Last week, the Staples Center, home to Log Angeles’ several professional sports teams, including the NBA’s Los Angeles Lakers and Clippers and the NHL’s LA Kings, got a new name, “Crypto.com Arena”, as part of a new 20 year- deal between arena owner AEG and the Singapore crypto exchange.

Such partnerships help to raise awareness of digital currency platforms as well as the coins themselves.

According to a survey by the Association of Financial Users of Spain, a consumer protection non-profit organization, recently estimated that more than 4.4 million citizens of Spain have invested in cryptocurrencies, and 41% of them consider cryptocurrencies as safe investments.