Hello Hive Fam!

I'm back with another Fintech Flash, where I go over the biggest news happening in Fintech and blockchain over the last week.

Here's what was covered in Episode 11!

Bitcoin hits $14k on its 12th birthday! Saturday, October 31st, marked exactly 12 years since the Bitcoin whitepaper was published by the anonymous founder Satoshi Nakamoto. Since launching, Bitcoin has undergone tremendous growth revolutionizing the entire cryptocurrency sector. At some point on Saturday, Bitcoin hit the $14,000 mark, which is an all-time high since January 2018.

Crypto locked in DeFi declines for the first month since this summer’s DeFi boom. In recent months, investors have poured billions of dollars into these smart contracts to earn highly lucrative rewards, but it is clear that DeFi’s growth rate is slowing down. The amount of cryptocurrency locked in decentralized finance smart contracts at the end of October equaled $11 billion, which is less than when the month started at $11.28 billion.

Facebook censors Bitcoin-related content once again. While Bitcoin is censorship-resistant. The hashtag #Bitcoin is not. Over the past days, Facebook has been busy censoring all posts that include the #Bitcoin hashtag in the description. This appears to be happening on all content types including videos, photographs, and even messages - essentially blocking the public from accessing any information related to the cryptocurrency.

European Central Bank President Christine Lagarde announced an ECB survey of public opinion regarding the issuance of a digital euro, implying the central bank is considering a retail central bank digital currency not just one intended for use between banks, which would represent a much more profound change.

The forthcoming digital yuan will reportedly be compatible with major payment networks such as WeChat and Alipay. These recent statements would appear to contradict earlier reports from local sources suggesting that China may launch its digital currency as an alternative to the two payment giants. The digital yuan is currently accessible to limited users through an exclusive mobile wallet application.

Iran amends laws to allow imports to be funded with cryptocurrency. Cryptocurrency has become increasingly important in Iran as the nation suffers from economic woes brought by U.S. sanctions and the coronavirus pandemic. Mining was legalized last year, however the industry is heavily regulated by the government, making it a tough jurisdiction in which to operate. Iran Daily suggested that using bitcoin for import payments could help the nation avoid sanctions that impose limits on Iran's access to the dollar.

Hope you enjoyed it and i'll be back next week for another Fintech ⚡️Flash!

XO, Lea