The Italian government is launching a grant program to improve its competitiveness and boost development and technological transition through blockchain and other innovations. This and more news in this handy daily digest so that you are always informed with the latest events happening within the crypto world.
Italy launches grants for blockchain projects
📍Italy's Ministry of Economic Development has allocated 45 million euros to the development of blockchain technology. The Italian government has launched a grant program for the technology industry, which will be implemented through the country's Ministry of Economic Development.
According to reported The resources will be used to finance various initiatives focused on blockchain, as well as other technologies, such as Artificial Intelligence, the Internet of Things and Machine Learning, with real-world applications, according to the ministry.
With this grant program, Italy seeks to encourage technological development and innovation to boost the so-called 4.0 transition. Blockchain and other technology companies will be able to participate in this grant program starting in September.
Italian Minister Giancarlo Giorgetti said that “the challenge of competitiveness requires a constant capacity to innovate”, which is why the Italian government is allocating a significant amount of money to innovate and capture the potential of Blockchain and new technologies.
More than $50 million in remittances in Chivo Wallet without commission fees
📍Salvadorans saved millions of dollars in remittance market fees through Chivo Wallet. Using the digital wallet created by the government of El Salvador to boost Bitcoin adoption has saved Salvadorans several million dollars in commission fees when sending and receiving remittances.
Milena Mayorga, El Salvador's ambassador to the United States, reported on her Twitter account that from January to May, Salvadorans received $52 million in remittances with zero commission fees through Chivo Wallet.
The digital wallet developed by the Salvadoran government allows its citizens to send and receive value in bitcoins and US dollars. According to the Google Play app store, this digital wallet has more than 1 million downloads.
On the other hand, Douglas Rodríguez, president of the Central Reserve Bank of El Salvador, told the newspaper El Salvador Street Chivo Wallet was created to eliminate the charging of commissions for sending and receiving remittances, in order to provide greater economic freedom to Salvadorans.
According to Rodriguez, the bank's projections indicate that Salvadorans could save up to 400 million dollars a year in commission fees on remittances. He also highlighted that the remittance market in the country has grown by 3,9% since last year.
An American bank wants to issue DAI
📍A bank with more than 150 years of history wants to issue DAI. Huntingdon Valley Bank, founded in 1891 in the United States, has submitted a proposal to issue DAI, the stablecoin developed by the MakerDAO protocol, collateralized by real-world assets worth up to $100 million.
Although the proposal is still being voted on at the time of writing, MakerDAO community members are quite optimistic about the bank’s proposal. At press time, the proposal to issue DAI collateralized with real-world assets has 83% of votes in favor.
On Twitter, MakerDAO noted that if the bank's initiative is approved, this would be the first collateral integration of a traditional US-based bank with the DeFi ecosystem.
“Black Party” lurks in Latin America
📍A new malware campaign is lurking in Latin America. Cryptocurrency holders in Latin America may be at risk due to “BlackParty,” a new malware campaign that can allow attackers to take control of infected computers to steal their victims’ cryptocurrencies.
While BlackParty is not designed exclusively to steal crypto assets, it does allow attackers to steal their victims' private information, which can include cryptocurrency logins and private keys.
Security firms Fortinet and Telmex-Scitum first reported on BlackParty in May. The malware campaign reportedly spoofs the website of Mexico’s Tax Administration System (SAT) to trick victims into downloading a fake user manual containing malicious code.
Currently, more than 500 cases have been reported, with Brazil being one of the biggest targets of this malware campaign. In recent months, Brazil has positioned itself as one of the most favorable countries for the development and adoption of the crypto industry in Latin America.
Investors are accumulating Bitcoin again
📍Bitcoin investors are accumulating BTC after several days of selling. According to data According to GlassNode, both larger Bitcoin investors, with 10.000 BTC or more, and smaller investors, with at least 1 BTC in their wallets, are returning to the aggressive Bitcoin accumulation strategy, which can be taken as a positive sign for the market.
At the time of writing, the price of Bitcoin is at $19.900.
Continue reading: A JP Morgan strategist says the market will recover soon
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