The Crypto Report
Google co-founder Sergey Brin said that the search engine giant missed out on the chance to be at the forefront of blockchain, according to a CNBC report.
"We probably already failed to be on the bleeding edge, I'll be honest," said the Alphabet Inc (NASDAQ:GOOG) president.
During a panel at Richard Branson’s Blockchain Summit in Morocco, Brin admitted that he doesn’t know too much about cryptocurrency but that he has an interest in blockchain technology.
Brin said that the technology has a place in Google X, the company’s somewhat secret research division.
Alphabet’s Google isn’t the only one with their sights set on blockchain.
READ: 360 Blockchain poised to buy two websites, including ICORanker.com
The Industrial and Commercial Bank of China is looking to patent a blockchain system for the exchange of financial assets, according to a CoinDesk report.
As per the patent application filed in January, the system would involve a platform that sends a smart contract when users initiate a transaction request.
The system would cut out the middleman in the current system.
Elsewhere in China, 20 suspects from a computer technology firm were arrested after allegedly profiting from illicit cryptocurrency mining, according to a CoinDesk report.
The hackers are said to have created malware embedded inside browser plug-ins to infect over a million computers, generating more than US$2mln over two years.
The Cann Report
It’s been dubbed the 'Marijuanapocalypse' of 2018.
California’s cannabis industry has been subject to stricter regulations as of the beginning of July.
Under the state regulations, companies selling legalized recreational marijuana in California will have to follow updated guidelines on the testing, packaging and labeling of the products. Licensed retailers will no longer be able to sell untested cannabis goods.
Cannabis that does not meet the standards will have to be destroyed.
An estimated US$350mln worth of marijuana will be destroyed, according to a High Times report.
READ: Canadian cannabis company Tilray sets the terms for its initial public offering
Across the sea, Israel may decriminalize marijuana use this week.
The Labor, Welfare and Health Committee approved a bill that would replace jail time with civil fines for cannabis possession, according to a report by the Jerusalem Post.
The Israeli Knesset, the country’s legislative body, will vote on the measure.
Knesset member Meirav Ben-Ari said in a statement that she hopes the money for the penalties will be used to benefit those living with addiction.
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee