Indian cryptocurrency trade Unocoin has fired half of its workforce, leaving the organization with 14 people, Indian daily information outlet The Economic Times reported on April 16.
Citing regulatory uncertainty in the enterprise, Unocoin said it had made a choice previous to a Supreme Court hearing on cryptocurrency’s felony reputation in India, set for July.
As Cointelegraph pronounced, exchanges within u. S. A . Have confronted a moratorium on banking offerings because the significant bank, the Reserve Bank of India (RBI), applied a ban on dealings with crypto groups closing yr.
The industry is in the process of challenging RBI’s choice, which has taken the form of a prolonged Supreme Court method.
Since its peak, Unocoin has fired over 80% of its staff and is currently draining capital reserves as executives wait for news about the future.
“We did ask human beings to go away in an ultimate week, but our operations will remain for the foreseeable future,”
CEO Sathvik Vishwanath advised The Economic Times. He persevered:
At the start of April, fellow Indian trade company Coindelta announced it was ceasing operations for good, likewise bringing up the extraordinarily taxing regulatory landscape that companies presently face in the usa.
Worldwide, different crypto companies have felt the pinch for distinctive reasons in the latest months; bitcoin’s (BTC) price drop from $6,500 to $ 130 in November 2018 sparked a sequence of fee-reducing moves from agencies, along with mining giant Bitmain and blockchain tech company ConsenSys.
Blockchain-powered scientific facts market Longenesis and biotechnology enterprise Insilico Medicine have agreed with South Korean medical institution Gil Medical Center to create a blockchain-primarily based health records control answer. The development was announced in a press release published on April 23.
As part of the collaboration, the events intend to develop a blockchain-powered platform primarily based on Bitfury’s Exonum blockchain framework to grow statistics series performance, enhance medical studies approaches, and ensure clear control of affected person consent.
Longines is will reportedly offer a comfy ecosystem for Gil Medical Center to add, shop, and manipulate patients’ private information, permitting sufferers to control and access their facts as properly. The platform also aims to cope with compliance with the Health Insurance Portability and Accountability Act (HIPAA) and the General Data Protection Regulation (GDPR) guidelines. The clinic also affords offerings to foreigners.
In April, Bitfury and Longenesis together released a manufacturing blockchain-based, totally consent-controlled gadget for the healthcare enterprise that addresses compliance with GDPR and HIPAA.
In mid-March, almost every other most important hospital in South Korea’s capital city of Seoul, Seoul Medical Center, introduced plans to release a blockchain-based platform aimed at improving its clinical offerings. The undertaking dubbed “Smart Hospital” aims to enhance record accuracy and reduce processing time for the aforementioned health center.
As said in February, to sell the USA’s blockchain tasks, the Seoul Metropolitan Government revealed the establishment of the “Seoul Innovation Growth Fund,” intending to make investments of more than $1 billion in blockchain and fintech startups through 2022.
