Part of the island in the Caribbean can be redeemed with cryptocoins. The price roughly corresponds to 7 million dollars. The beach called Bloody Bay Beach is located on Union Island, next to the private island of Mystic, where the members of the British royal family regularly spend their holidays. It is announced that huge funds are allocated for the development of the infrastructure of this unique paradise, and in the long term the owners want to see there a luxury hotel with an adjacent territory. It is also noted that the opportunity to purchase Bloody Bay Beach for digital assets is temporary limited. In this way sellers give a chance to new technologies to find their place among the traditions of the old world.
The state of New York introduced 4 draft laws on the technology of the distributed register. They are related to the legal consolidation of the concepts of “smart contract” and “blockchain”, to the influence of cryptocurrencies on the financial markets of the state, as well as to blockchain platforms for voting and information storage. Open hearings on new bills will begin in the coming months. It will be a big step towards the legalization of the technology and digital assets for the state administration.
The Swiss bank UBS Group AG is developing a blockchain-based platform for transaction validation. It uses smart contracts that will automatically generate a record of each action committed by an user. The system also notifies about all changes. In this manner UBS plans to exclude the middlemen managing the database and make the processes more secure.