Beijing District to Use Blockchain-powered ID Solution + More News

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Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Blockchain news

  • Beijing’s Haidian District says it will use a blockchain-powered ID solution that will allow authorities to process certification online without the need to visit offices and hand over paper documentation. Per Xinhua, the new platform will be compatible with some 200 different types of documentation, including over two dozen types of licenses, such as business licenses, marriage certificates and certification used to identify citizen with disabilities. The district says the solution will help ease “bottlenecks” in public services operations.

Investment news

  • China-based blockchain messaging service MiMiDi has announced a USD 16.4 million investment injection led by the venture capital arm of electronics giant Huawei. The latter, per NBTV, led the Series B investment round, which was made up of mostly unnamed private investors. The messaging service features end-to-end encryption, and the company is set to roll out versions of its app for Android, iOS and Huawei’s own Hongmeng operating system.
  • Venture Smart Asia Ltd.’s blockchain arm Arrano Capital has met the regulatory requirements in Hong Kong to launch a crypto fund as required by the local Securities and Futures Commission (SFC). Per Bloomberg, the company launched Hong Kong’s first approved Bitcoin (BTC) fund with a target of USD 100 million for the first year. The move was made in response to the market demand from professional investors who are increasingly focused on BTC as an alternative store of value, according to Arrano Chief Investment Officer Avaneesh Acquilla.
  • The U.S. Securities and Exchange Commission (SEC) reportedly gave the permission to investment adviser Renaissance Technologies’ hedge fund, Medallion Funds, to invest in Bitcoin futures markets. Per a firm brochure, the…

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