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According to their website, Matchpool is “a decentralized matchmaking protocol which uses group dynamics to help participants match with each other”. The idea is that anyone can create and cultivate their own matchmaking community and make money doing so. Picture Meetup with a romantic angle and mix in a sharing economy. The online dating space is a billion dollar industry and Matchpool would be the first to be built on the blockchain.

Community building is emerging as a fantastic use case for blockchain technology. Contrary to centralized systems that provide the platform and extract value created from the users of the platform, the blockchain enables decentralized systems where participants in the network create value and also receive value in return. This is the sharing economy in its most basic form and it encourages voluntary, reputation driven communities and group participation.

Matchpool is still in development and they plan on doing a crowdsale in March. Check out their whitepaper here for more details.

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Brian Schneider, Secretary of the Illinois Department of Financial and Professional Regulation (IDFPR), has requested public comments on Digital Currency Regulatory Guidance. Comments are due by January 18, 5:00PM CST. Comments can be submitted electronically here.

In the most simple of terms, the IDFPR is looking for commentary and guidance on the fundamental questions around how virtual currency business should be regulated and taxed in Illinois. Virtual currencies do not fit under the current statues, and the IDFPR would like guidance on how the current statutes, such as TOMA, should apply to virtual currencies.

Submit comments here
Digital Currency Regulatory Guidance

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Coinbase just announced that it has received the BitLicense from the State of New York. The BitLicense is a special business license governing activities associated with virtual currencies which officially authorizes Coinbase to continue to operate in New York. This appears to be a validation by the New York State government that they are willing to license and regulate cryptocurrency companies.

The intersection of Blockchain technology and government regulation is still developing. Blockchain technology enables unprecedented individual freedom, as President Obama said “everybody is walking around with a Swiss Bank account in their pocket.”. Governments have an interest in regulating virtual currencies, but do not want to discourage innovation or deny economic opportunities created by Blockchain transactions and companies.

We need to come up with a governance model that makes sense in the decentralized economy and it’s up to us to determine the nature of the relationship between government and the Blockchain.

Coinbase announcement on Medium

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