The Crypto Report
Two of the most widely-lamented cryptocurrency complaints are volatility and difficulty of use.
International Monetary Fund Chair Christine Lagarde said that central banks should consider the possibility of issuing digital currency to increase stability and boost distribution, as per a Forbes report.
“That currency could satisfy public policy goals, such as financial inclusion, and security and consumer protection; and to provide what the private sector cannot: privacy in payments,” said Lagarde during a speech at the Singapore Fintech Festival.
The IMF staff also prepared a 39-page white paper on central bank digital currencies.
READ: CryptoCann™ Report: Mining giant Bitmain sues crypto hacker; Ohio’s medical marijuana program remains on hold
While central banks have been slow to warm up to cryptocurrency, the private sector continues racking up the patents.
Bank of America Corp (NYSE:BAC) has won a cryptocurrency storage patent, according to a CoinDesk report.
The filing outlines how the bank and other institutions would be able to store digital assets on behalf of customers.
“Enterprises may handle a large number of financial transactions on a daily basis. As technology advances, financial transactions involving cryptocurrency have become more common. For some enterprises, it may be desirable to aggregate cryptocurrency deposited by customers in an enterprise account,” states the patent filing.
Customers would still have access to their funds and be able to conduct transactions with their digital assets.
The Cann Report
Michigan voted in favor of Proposal 18-1 in this year’s midterms, legalizing cannabis recreational use in the state for those 21 years of age or older.
The proposal will also legalize commercial sales of cannabis through state-licensed retailers, subject to a 10% tax.
While young voters were among the biggest proponents of the proposal, Michigan universities are notifying students that smoking marijuana will not be permitted on campus, according to a Detroit Free Press report.
“We would like to remind everyone that this new state law will not change policies prohibiting the use or possession of marijuana on any property owned or managed by MSU, and by MSU’s faculty, staff, or students on any MSU property or during off-campus MSU business or events,” wrote Denise Maybank, vice president and associate provost at Michigan State University in East Lansing, in a memo to students, faculty and staff.
READ: Canntab Therapeutics applies with Health Canada to become a licensed cannabis producer
The University of Michigan, Wayne State University and Central Michigan University have announced a similar stance.
Perhaps cannabis isn’t welcome on academic campuses, but a DIY edibles kit would bring the experience home.
Canadian inventor Justin Lloyd launched a Kickstarter campaign for a DIY cannabis edibles kit, complete with cooking utensils and a recipe book. The kit does not contain any cannabis.
The project raised a total of C$10,000 in funding, but the company suspended his campaign due to “inappropriate content”, as per a Civilized report.
Lloyd said that he won't dispute Kickstarter's decision, but that he has begun meeting with private investors to grow the project.
Contact Lenore Fedow at lenore@proactiveinvestors.com
Follow her on Twitter: @LenoreMariee