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Adoption Time

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The previous week was full of impactful news in the field of blockchain and we are happy to share our weekly news digest - “Adoption time” with you - the most important crypto-related events gathered in a single article. Coming every Monday it will help you to find out new opportunities to use your crypto, reveal fresh-released crypto-projects and share relevant adoption cases.

ExxonMobil has Launched Bitcoin Mining Project with Natural Gas

International oil and gas company - ExxonMobil has announced the pilot project of cryptocurrency mining, powered by natural gas. Recently the company has reached an agreement with Crusoe Energy Systems - the company providing natural gas flaring solutions, to take gas from an oil well site in North Dakota to provide power to crypto mining hardware for assets powered by a proof-of-work (such as BTC and ETH).

Regularly the gas generated from the extraction of oil is simply burnt off, while ExxonMobil will use its power for running mining machines. Even though the project has not yet been started, the company already has plans for similar projects in other states of the US and other countries - Nigeria, Argentina, Germany.

Israeli Bank Leumi has Enabled Bitcoin and Ethereum Trading

On the 25 of March Israeli Bank Leumi has announced that it will provide cryptocurrency trading operations for their users. The operations are going to be carried out through their trading application - Pepper Invest, while the trading platform partners with Paxos.

At first users will be able to invest their funds only in Bitcoin (BTC) and Ethereum (ETH). However currently there is no information on the launch date - according to the words of Leumi - they are waiting for the regulatory approval.

Russia is Going to Accept Bitcoin for Oil and Gas

The chairman of the Russia's State Duma Committee on Energy, Pavel Zavalny during his press conference announced that the West will have to pay for gas and oil with rubles or gold, while Russias’ allies will be able to pay with their native currency. Afterwards he said there is also an option to pay with Bitcoin.

However currently it is not yet clear whether it was a joke or a real announcement - while most analysts predict that the increasing wave of sanctions might cause the alike rise of cryptocurrency use and adoption, the words do not seem much like a joke. At the same time no official announcements have been made.

LG Electronics adds blockchain and crypto as new areas of business

LG Electronics, the South Korean gigant has recently added cryptocurrency and blockchain as new business areas in their charter. At the annual general meeting two business objectives have been added - “the development and selling of blockchain-based software” and  “the sale and brokerage of cryptocurrency,”. 

It seems a lot like the company is intended to launch its own cryptocurrency exchange - while the new president of South Korea is interested in developing cryptocurrency infrastructure in his country, the plan of LG seems more than logical. However, as always, the company does not reveal any additional, precise information.

Crypto.com will Sponsor 2022 FIFA World Cup

One of the most famous crypto-exchange platforms - Crypto.com, has announced that it is going to be the official sponsor of the World Cup in Qatar in 2022. 

Recently Cryto.com signed other high-profile sponsorship deals with the Staples Center, the Australian Football League, Formula 1, and the UFC.

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