Indian cryptocurrency trade Unocoin has fired half of its workforce, leaving the organization with 14 people, Indian each day information outlet The Economic Times pronounced on April 16.
Citing regulatory uncertainty in the enterprise, Unocoin said it had made the choice previous to a Supreme Court hearing on cryptocurrency’s felony reputation in India, set for July.
As Cointelegraph pronounced, exchanges within the 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 preventing 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 strolling off capital reserves as executives wait for news about the future.
“We did ask human beings to go away ultimate week, but our operations will retain for the foreseeable future,” CEO Sathvik Vishwanath advised The Economic Times. He persevered:
At the start of April, fellow Indian trade Coindelta introduced it was ceasing operations for precise, likewise bringing up the extraordinarily taxing regulatory panorama structures presently face within the usa.
Worldwide, different crypto companies have felt the pinch for distinctive reasons in latest months, bitcoin’s (BTC) charge drop from $6,500 to $three,130 in November 2018 sparking a sequence of fee-reducing movements from agencies along with mining giant Bitmain and blockchain tech company ConsenSys.
Blockchain-powered scientific facts market Longenesis and biotechnology enterprise Insilico Medicine have entered into an agreement with South Korean medical institution Gil Medical Center to create a blockchain-primarily based health records control answer. The development became 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 growth the performance of statistics series, enhance medical studies approaches and make sure obvious control of affected person consent.
Longenesis 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 General Data Protection Regulation (GDPR) guidelines as the clinic also affords offerings to foreigners.
Earlier in April, Bitfury and Longenesis together released manufacturing of a blockchain-based totally consent control gadget for the healthcare enterprise that addresses compliance with GDPR and HIPAA.
In mid-March, every other most important hospital in South Korea’s capital city of Seoul, Seoul Medical Center, introduced plans to release a blockchain-based totally platform aimed to improve its clinical offerings. The undertaking dubbed “Smart Hospital” targets to enhance records accuracy and reduce processing timing for the aforementioned health center.
As said in February, so as to sell the usa’s blockchain tasks, the Seoul Metropolitan Government revealed the establishment of the “Seoul Innovation Growth Fund,” with the aim to make investments extra than $1 billion in blockchain and fintech startups through 2022.