The United States: JP Morgan has recently Launched a New Crypto asset. JP Morgan has been rated as one of the largest investment banks in the nation. The crypto asset which has been launched has been named as JPM Coin. This new token is moreover a stablecoin which will have the backing of the US Dollar. This move by JP Morgan was extremely surprising as for long JP Morgan has termed crypto assets as a scam and a not so trustworthy means of exchange of money and a scam. But this latest move states that the mindset of the firm is changing as the banking firm is extremely eager to bring in their stablecoin. Till now the coin has received a mixed feeling from the crypto sector as there has been much confusion which has been surrounding the new JPM coin by JP Morgan.
The funds which are to be invested through Morgan Creek will be used to invest in firms like Bakkt and Coinbase. Nearly 40 million USD from the pension funds will be invested through Morgan Creek. This will be the first time in the USA that a retirement fund of the police will be invested in crypto assets.
UC Berkeley Announces Accelerator for New Start-up firms related to blockchain: Regarded as one of the best public universities in the US, UC Berkeley has confirmed that it will be designing a new and innovative accelerator program to encourage new blockchain start-up firms so as to gain a footing. This accelerator program involves a 12-week long schedule which will launch in partnership with Berkeley Blockchain Xcelerator, Haas School for Business and Blockchain and Venture Capitalist fund Berkeley X-lab Fund. This program is open for all and new start-up companies can apply for it. The selected start-up firms will be mentored and trained by entrepreneurs, alumni, investors and students from the industry.
California: IBM has been into using blockchain to solve the drought issue in several parts of California. This project will be marked as one of the largest aquifers in the area which will be using blockchain and sensors to record the data. IBM has joined hands with the non-profit firm, The Freshwater Trust (TFT) and the University of Colorado Boulder for this project.