Daily News Digest Featured News

Wednesday May 9 2018, Daily News Digest

bitcoin dow
Source: Forbes

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United States

International

European Union

Asia

United Kingdom

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News Summary

United States

Facebook forming a new blockchain group, headed by Coinbase board member (CNBC), Rated: AAA

David Marcus, Facebook‘s head of Messenger, is going to head up a new group focused on the blockchain technology that underlies bitcoin.

“I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch,” Marcus said in a post Tuesday afternoon on the social media site.

NYSE Isn’t Planning a Bitcoin Futures Market, But a Proper Crypto Exchange (CCN), Rated: AAA

According to a report by the New York Times, the world’s biggest stock exchange New York Stock Exchange (NYSE) is planning to operate a proper cryptocurrency trading platform.

#NYSE Owner to Open Exchange (Investor Ideas), Rated: A

International Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is developing an online cryptocurrency exchange according to a report in the New York Times today. Citing information gleaned from “emails and documents” and four sources who requested anonymity, the NY Times reports:

New York Stock Exchange to trade Bitcoin: but what will the ramifications be? (Crypto News Review), Rated: AAA

As of Monday 7 May, the total value of Bitcoin and competing cryptocurrencies stood at more than $438 billion, despite volatility which sees these prices rise and fall wildly.

The news should not come as a shock, analysts said. In 2015 the NYSE was a minority investor – along with Spanish bank BBVA and the former chief executives of Citigroup and Reuters – who pumped $75 million into crypto wallet Coinbase.

The move by the NYSE could force the hand of the likes of the Nikkei and London Stock Exchange to push forward plans of their own to debut Bitcoin trading options.

Those ‘conservative investors’ – who do not want to risk large sums of money or assets trading on highly volatile cryptocurrencies – could be the source of the largest proportion of new liquidity to crypto markets. Certainly, opening up the gates to cryptocurrencies will allow vastly more investors access to these traditionally closed marketplaces. But the repercussions will go far beyond the simple matter of access, says Matej Tomazin, the Slovenia-born COO of digital asset management platform ICONOMI.

Why NYSE’s Parent Company Is Building a Bitcoin Exchange (Fortune), Rated: A

More broadly, this move signifies a greater acceptance on Wall Street. It turns out that some of the financial power brokers are demanding access to Bitcoin, a digital currency that has remained divisive for years. It was only several months ago that Bitcoin billionaire Cameron Winklevoss told CNBC that “[Bitcoin] is a multitrillion-dollar asset – I don’t know how long it takes to get there,” while UBS’s Paul Donovan argued Bitcoin is simply a bubble that should be ignored. Oh, if only it were that easy.

Coinbase Delivers Knockout Report on Its Finances (cryptovest), Rated: A

These efforts and others have resulted in a 1000% increase in our surge, transaction capacity relative to Q3 of 2017. We expect to again double this capacity in coming months, all while maintaining the highest standard of security expected by our customers.

We are proud to have delivered 99.97% uptime to users of the platform in the period January 1 to present, and 99.99% uptime in the month of April.

Is Ripple About to be Hit With Another Class Action Suit? (Finance Magnates), Rated: A

Following the launch of a class action lawsuit against Ripple on May 4, shareholder rights law firm Johson Fistel, LLP is reportedly “investigating potential claims against Ripple Labs.”

Bitcoin Price Is Correlated To Stocks (Forbes), Rated: AAA

Where is the linkage? For one, cheap money can be turned into “cash and carry.” There you would take a Fed handout, buy Bitcoin and sell the future. As I write, the yield on this trade is 10%-plus. So for your riskless trade of “borrow a billion dollars,” buy Bitcoin now and sell the futures contract ‘for delivery,’ you have a 9% carry trade, a sweet $90 dollar profit per annum.

bitcoin dow
Source: Forbes

Are Bitcoin And Digital Currencies Preparing To Blast Off Again? (Seeking Alpha), Rated: AAA

These days, over 1600 tokens are trading in the asset class that has a total market cap of around $440 billion as of Monday, May 7.

2018 starts with a severe downside correction

bitcoin prices
Source: Coindesk

The decline of 64.25% in less than two months left many who bought Bitcoin and other cryptos after last November nursing some pretty ugly losses. While Bitcoin plunged, the mark cap of the asset class moved below $200 billion over the corrective period.

Meanwhile, the market cap of the asset class has climbed from lows at below $250 billion to the $440 billion level. Rather than rat poison squared, I would characterize the price action as volatility squared.

bitcoin
Source: Barchart

Sorry, Bitcoin Fans: Cryptocurrencies Aren’t Real Money Yet (Forbes), Rated: A

THE ASTONISHING FACT about the explosion in cryptocurrencies is that their creators have overlooked a fundamental fact: Money isn’t viable if it fluctuates in value, particularly with the wild swings characteristic of this sector. If in 2013 you had taken out a mortgage for $250,000 in Bitcoin, you’d owe the bank roughly $18 million today.

To be a true alternative, a cryptocurrency must also be easy to use for day-to-day transactions. Moreover, the supply can’t be artificially restricted.

Cryptocurrencies Will Be Regulated — the Only Question Is by Whom? (TheStreet), Rated: AAA

How will the debate play out? It will most likely come down to an interpretation of the Howey Test, the result of a 1946 Supreme Court decision that has since been used to determine whether a transaction should be labeled as an investment contract — in other words, a security.

“The Howey Test essentially asks four main questions to determine whether something is a security,” explains Enrique Souza, development specialist at SmartCash, a community-driven, decentralized cryptocurrency platform. “Are you investing money or assets? Do you expect to make a profit from your investment? Are you investing in a common enterprise? And is the profit the result of a third party’s actions, rather than your own? If the answer is yes to all four questions, then the transaction is typically labeled a security.”

Lack of Wall Street back-office deters mainstream crypto investments (Reuters), Rated: A

Traditional custodian banks such as Bank of New York Mellon Corp (BK.N) and State Street Corp (STT.N) do not yet handle crypto assets like bitcoin. That means hedge funds have been forced far from Wall Street to places like Springfield, Pennsylvania, or Murray, Kentucky, to find auditors, custodians and record-keepers, according to fund disclosures and executives.

Hedge funds are required by the U.S. Securities and Exchange Commission to use a qualified custodian, which includes federally insured banks and registered broker-dealers, once their assets exceed $150 million.

That means crypto investors have little choice but to go with smaller, little-known firms for now.

Even the largest crypto funds rely on small service providers.

Robinhood App Expands Cryptocurrency Trading to Two More US States (Bitcoin.com), Rated: A

Robinhood Financial LLC, the Palo Alto-headquartered US stocks brokerage app, has announced that it added another two locations where cryptocurrency trading is now supported for its clients. The company officially announced on Thursday on its twitter page that the service is rolling out to Wisconsin and New Mexico.

Microsoft Unveils New Blockchain Tools for Azure (CoinDesk), Rated: A

Microsoft announced the Azure Blockchain Workbench Monday, releasing a new set of tools for developers that work with distributed ledger tech.

The Workbench provides “the scaffolding for an end-to-end blockchain application,” and can be set up “with just a few simple clicks,” according to the announcement. Put more simply, Microsoft is trying to streamline the method by which companies and their development teams can build apps on top of Azure-based blockchains.

Oracle to Launch Its Blockchain Platform This Month (CoinDesk), Rated: A

Software giant Oracle is all set to publicly launch its blockchain-as-a-service platform, according to a report from Bloomberg.

The California-based multinational is said to be launching the platform this month, with apps based on distributed ledger technology (DLT) to follow in June, the news source states, citing Oracle’s president of product development, Thomas Kurian.

Colorado Passes Blockchain Technology Legislation Supported by Filament (GlobeNewswire), Rated: A

Filament, provider of blockchain solutions for the Internet of Things (IoT) and the enterprise, announced today that the State of Colorado passed legislation that promotes the use of blockchain or other distributed ledger technologies for a variety of purposes, including to improve the state government’s operations and cybersecurity. The bipartisan Senate Bill 86 makes Colorado the first state to enact laws around the use of blockchain technology for the purpose of protecting confidential data in state records. Filament worked with Senators Lambert and Williams and Representatives Ginal and Rankin in strong support of the legislation, providing a safe regulatory environment for local businesses and organizations by preventing cities and counties in Colorado from imposing license requirements, fees, or incidental taxes on the use of distributed ledger technology, including blockchain.

DHS Official: Blockchain Hype Creating ‘Tension’ Between Tech Providers And Agencies (Forbes), Rated: A

A Department of Homeland Security official issued a series of subtle warnings Tuesday morning at a congressional hearing that excessive hype and an arms race among blockchain vendors is hindering the technology’s implementation at a high level.

John McAfee Invites Jamie Dimon To Learn About His Impotent, Blockchain-Powered, Bangkok Hooker-Filled Future (Dealbreaker), Rated: A

I tell JP Morgan the truth. And make Jamie Dimon an offer that no man with an IQ above 12 could refuse. From a video that will be shown at the World Blockchain Conference in Atlantic City on July 12 of this year. I will be keynoting.

Watch the engaging video here.

Tyler Winklevoss tells Bill Gates how to short bitcoin (CNBC), Rated: A

Tyler Winklevoss tells Bill Gates how to short bitcoin from CNBC.

Billionaire Bill Gates once got bitcoin as a birthday present — here’s what he did with it (CNBC), Rated: B

“Somebody gave me some for my birthday,” Gates laughs during an interview with Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger. “A few years later, I thought, ‘Hey I’m going to sell that.'”

AML BitCoin Listed On Digital Currency Exchange, IDAX (BusinessWire), Rated: B

NAC Foundation, LLC, creator of the world’s only patented compliant digital currency, AML BitCoin, announces that the AML Token has commenced trading on digital currency exchange, IDAX. The trading symbol for AML Token is ABTC.

Cryptocurrency Firm’s Allegedly Fake Videos Help Land It In Trouble With Regulator (Forbes), Rated: A

An order barring London-based BTCRUSH from doing business in Texas was issued today after Texas Securities Commissioner Travis Iles found, among other things, that BTCRUSH’s website contained fake videos purporting to show three cryptocurrency mining farms.

Crypto Investment Schemes Hit With Cease-and-Desists in Texas (CoinDesk), Rated: B

The Texas State Securities Board (TSSB) has issued cease-and-desist orders to two bitcoin investment schemes that it alleges are selling unregistered securities and making fraudulent claims to the state’s residents

According to one order lodged on Tuesday, the securities regulator takes aim at a company called Forex EA & Bitcoin Investment LLC and two individuals associated with the scheme, James Butcher and Richard Dunn.

Meanwhile the second order slaps down a cryptocurrency cloud mining scheme dubbed Bitcoin Trading and Cloud Mining Limited, or BTCRUSH, based in the U.K. and four individuals related to the firm.

Cryptocurrency Youtuber, Crypto Crow Launches First Bitcoin Funded Television Series (GlobeNewswire), Rated: B

Cryptocurrency Youtuber and Investor, Jason Appleton, otherwise known on Youtube as Crypto Crow is launching his own television series on CBS, the CW and Roku to over 47 million homes, all of which is being funded by Bitcoin.

CRYPTOHOU.SE TO HOST EXCLUSIVE SOCIAL CLUB DURING NEW YORK BLOCKCHAIN WEEK (Cryptohou.se Email), Rated: B

This year, Cryptohou.se will host the most exclusive crypto gathering during Blockchain week, transforming a luxurious mansion on the Lower East Side into an invite-only, immersive social club for founders, thought leaders, and investors throughout New York Blockchain Week from May 13-17.

International

The Surprising Catalyst Behind the Sudden Resurgence in Cryptocurrencies (The Motley Fool), Rated: AAA

But something interesting has happened over the past month. After this roughly 70% tumble in cryptocurrency market cap, virtual currency bulls have returned with a vengeance. As of early morning on May 5, the combined crypto market cap was back up to $471 billion. That’s a trough-to-peak gain of about 91% in roughly one month.

Part of this renewed optimism can likely be pegged on a few of the usual suspects. For example, there’s the rise of blockchain technology.

The Enterprise Ethereum Alliance, which is the largest open-source blockchain initiative in the world, now has more than 500 members. For context, it only had around 50 when it was first established in February 2017.

This isn’t your typical catalyst this time around

However, the impetus for this most recent rally appears to extend far beyond these typical factors. It would appear that the bulk of this rally is tied to the expectation that institutional investors are finally ready to enter the cryptocurrency space.

Why A.I. and Cryptocurrency Are Making One Type of Computer Chip Scarce (The New York Times), Rated: AAA

Artificial intelligence systems, made by companies ranging in size from Google to the Chinese start-up Malong Technologies, rely heavily on a computer chip called a graphics processing unit, or G.P.U. The chips are also very useful in mining digital currencies like Ethereum, a Bitcoin alternative riding the same wave of hype as its more famous cousin.

With people and companies involved in the two surging tech niches buying up the same chips, G.P.U.s have been in short supply over the past several months. Prices have increased by as much as 50 percent, according to some resellers and customers.

Crypto miners bought three million G.P.U. boards — flat panels that can be added to personal and other computers — worth $776 million last year, said Jon Peddie, a researcher who has tracked sales of the chips for decades.

That may not sound like a lot in an overall market worth more than $15 billion, but the combination of A.I. builders and crypto miners — not to mention gamers — has squeezed the G.P.U. supply.

Nearly 400 Drupal sites infected with malware that secretly mines cryptocurrency (The Next Web), Rated: A

Security researcher Troy Mursch from Bad Packets Report has discovered that a number of websites using an outdated version of the Drupal Content Management System are being victimized by hackers for crypto-jacking.

list of affected websites compiled by Mursch include those of the US National Labor Relations Board (NLRB) , Chinese tech company Lenovo, Taiwanese network hardware maker D-Link, and the University of California, Los Angeles (UCLA).

The world will have a global cryptocurrency, but it won’t be bitcoin, says ex-Goldman president Gary Cohn (CNBC), Rated: A

Former Goldman Sachs President Gary Cohn said Tuesday he thinks the world will have a global cryptocurrency that is not bitcoin.

“I’m not a big believer in bitcoin. I am a believer in blockchain technology,” Cohn told CNBC’s Bob Pisani in a “Squawk on the Street” interview.

“I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that,” he said.

Here’s What Analysts Think the Rest of 2018 Hold for Cryptocurrencies (BTCManager), Rated: A

Thomas Lee is an unapologetic cryptocurrency bull, and he is particularly optimistic about the prospects of Bitcoin. In a recent interview with CNBC’s Futures Now, he predicted that the price of bitcoin could reach $25,000 in the next seven months. In his words, “We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year.”

Cryptocurrency Communities Just Can’t Get Along (Bitcoin.com), Rated: A

Ripple supporters squabbling with Dogecoin diehards; Bitcoin Core and Cash maximalists constantly sniping; Vergelets lashing out against everyone; IOTA being IOTA. It’s easy to forget, amidst all the hullabaloo and name-calling, that we’re all on the same side. Crypto communities have more that unites them than divides them, and yet you wouldn’t think so at times.

Smart Contracts May Yield Unique Solutions In Arbitration (Law360), Rated: A

Although including an international arbitration clause in a smart contract is likely a no-brainer for many disputes attorneys, experts say it’s important for parties to a smart contract to be aware of the problems — and potentially revolutionary solutions — that may arise through the use of such clauses.

Everything You Need to Know About ICO Marketing in 2018 (99Bitcoins), Rated: AAA

More than $5.6 billion was raised via ICOs in 2017 and already in the first two months of 2018, we have seen 50 ICOs successfully raise over $1 billion.

Of the 902 ICOs in 2017, 142 failed before their offerings, whilst another 276 ICOs failed after raising their funds. That leaves 435 ICOs deemed a success, just 48%.

The Website Is The Foundation of Your ICO Marketing Strategy

Here is an ICO marketing checklist for your website:

  • There needs to be a well-written, transparent and easy-to-understand white paper. This is the meat to your ICO bone. Do not duplicate content from other white papers. This is one of the most harmful things you can do to your ICO, as it will cause your ICO to be considered a scam!
  • The website should be well designed, be modern in its look and be clear and easy to navigate.
  • A professionally-made short explanatory video is a great way to attract attention and get your message across.
  • All the creative materials and graphics must be compliant, clear, and attract further interest.
  • The website requires a clear call-to-action (CTA) which will entice potential investors.
  • The website needs a transparent and attractive email sign up. Be it newsletters, updates, special offers etc. opted-in emails are a great targeted and interested audience. The website needs to be fully SEO optimized (SEO stands for Search Engine Optimization) with quality content and a well-planned on-page SEO strategy.
  • To build trust, it is highly recommended to list all your key team members and link to their LinkedIn profiles. The more transparent your project, the more trust you will build.
  • Make sure the website features your vision, a roadmap, and a schedule of events.

The Good And Bad Of ICO Marketing (Forbes), Rated: A

The marketing strategy for ICOs has been changing ever since the term was coined.

The Good and Bad of Social Media

Startups looking to crowdfund via an Initial Coin Offering are strategizing more towards being listed and verified than garnering likes on Facebook.

European Union

The Economics of Ethereum’s Coming Consensus Change Are Taking Shape (CoinDesk), Rated: AAA

1,500 ether.

That’s how much cryptocurrency users will need to participate in testing ethereum‘s upcoming consensus protocol, Casper, at least according to the blockchain’s creator Vitalik Buterin.

Whereas today users must buy specialized hardware, Buterin explained that participating in Casper will first require submitting a minimum of 1,500 ETH (or just over $1 million) into a smart contract. While 1,500 ETH might seem like a large sum of money, Buterin emphasized that nodes with less ether can participate in a pool, or a group of nodes that work together and split the profits.

Ethereum Classic (ETC) Has Gone Up While Making Improvements (Global Coin Report), Rated: A

Ethereum, ranked as the 17th-best currency in the global coin ranking list, divided the Ethereum community once it was forked out of Ethereum’s first major system update. For quite some time after the initial fork, Ethereum Classic was doing more than well with also having been ranked as one of the top 20 coins, however, it soon started to drop against the dollar, while collecting only 1.3% of gains in the last two months. Now, we can see ETC clearly progressing in the last 30 days, even though it had adopted the latest trend of trading in the red, as the majority of coins is dropping in the last 3 days.

Although ETC has risen not more than 1.3% in the last two months, which is considered to be a pretty weak set of gains in the period of 60 days, we can now see Ethereum Classic under the more positive light.

ETC has been doing great for the past 30 days as it has managed to collect the set of gains of 71% against the dollar.

Ready or not, the IoT data marketplace is on its way (InternetofThings Agenda), Rated: AAA

IOTA Foundation, the Berlin-based nonprofit behind the IOTA cryptocurrency platform, is gearing up to launch an IoT data marketplace to “securely store, sell and access data streams.”

More than 35 companies are participating in this initiative, which has the goal of exploring how a data marketplace can be built atop a distributed ledger, as well as to uncover potential challenges and applications.

ABCC IS REVOLUTIONIZING ZERO-FEE TRADING (Bitcoinist), Rated: A

ABCC is a cryptocurrency exchange founded by media magnate and former member of Singaporean parliament Calvin Cheng. It fully embraces the core tenants and philosophy of blockchain — meaning it is open, transparent, seamless, and participatory.

Perhaps most important, however, is the fact that ABCC is entirely free to use!

Dutch Startup Launches a New Platform for Crypto Advertisement (NewsBTC), Rated: A

According to a forecast by Statista, the online advertising market will grow at double-digit pace until at least 2022. Analysts expect it will reach $281 bln in 2018 and reach $400 bln by 2022.

The AdCoinClick platform offers launching or publishing ads in just a few clicks using the AdCoin Blockchain to enable low transaction fees and no minimum budgets for campaigns.

The Lithuanian ICO Boom (CoFounder), Rated: A

Over the last ten years, Lithuanian startup businesses have raised over 150 million euros. Compare that to the 500 million raised through Initial Coin Offerings (ICOs) in Lithuania in the last 18 months and you start to understand that Lithuania is definitely doing something right.

In fact, the amount raised in 2017 through ICOs here in Lithuania is the third largest amount on the planet behind the United States and China. It’s a country with a population less than a third of the size of New York.

Vernam: Game Changing Blockchain Based Insurance Product (PR Newswire), Rated: A

Vernam is developing a Decentralized P2P marketplace for the insurance sector. The platform will be broker free, cost efficient, data driven and transparent. Consumers will also be able to get up to 30% cashback on their insurance premiums.

Popular Portuguese Tech Publication Starts Investing in Cryptocurrencies (CCN), Rated: B

A popular Portuguese tech publication, Pplware,recently started investing in cryptocurrency, after asking its readers for feedback on which tokens it should buy.

United Kingdom

DeVere boss slams Buffet over cryptocurrencies stance (International Investment), Rated: AAA

DeVere Group boss Nigel Green has hit out at Warren Buffett’s stance on cryptocurrencies, claiming that the renowned financial guru “needs to be educated” on the matter.

However, Green points that as Buffet spoke, Bitcoin, the largest cryptocurrency, had added $2,563.48 to its value in the last month, marking a price hike of 37.9%.

CryptoCurve: Blockchain Browser & Cryptocurrency Wallet? (Bitcoin Exchange Guide), Rated: A

CryptoCurve prides itself as the mother of all digital wallets that allows for you to buy, trade, send, exchange and invest in ICOs and cryptocurrencies. Additionally, the portfolio is set to allow for crypto pools and monitoring of cryptocurrencies as an official wallet under the Wanchain Blockchain.

CryptoCurve Blockchain Browser & Cryptocurrency Wallet Features

  • Decentralized exchange- CryptoCurve token holders get access to trade and exchange their coins under the interoperable CryptoCurve DEX portal
  • ICO investing- investors can access and fund upcoming ICO launches or startups on the Wanchain blockchain and more
  • ICO Staking- get a stake at the latest ICO to invest in through the CryptoCurve ICO staking portal
  • Portfolio Tracking- CryptoCurve wallet users also get a portfolio tracking portal for more natural fund management and updating.
  • ICO Pooling- Investors can source for the best ICOs to fund in collectively or as individuals
  • Nuke – Effortlessly convert your tokens to BTCETH or other stable crypto alternatives. There is also a reverse conversion function to convert back the currency.
  • Fiat Gateway- as a means of providing liquidity, CryptoCurve provide for a fiat gateway to allow for conversion, trading, and exchange using fiat currencies.
China

Details Emerge on Foxconn-Manufactured Ultra-Secure Crypto Phone (Bitcoin.com), Rated: AAA

Bitcoin paranoids rejoice. The technical details have emerged about Sirin Finney, an ultra secure mobile device promising to keep your cryptocurrency transactions private. The phone will feature an embedded cold storage wallet, and will be built by the same company that builds the iPhone.

Australia

Australian government to spend $ 700K on that new ‘blockchain’ thing (CNET), Rated: AAA

It was in that vein that the Australian government handed down its federal budget overnight, outlining the spending measures and policies that would define the country for the next year and beyond. And if you were playing blockchain bingo, you, my friend, just got to drink.

The government has allocated AU$700,000 to “investigate areas where blockchain technology could offer the most value for Government services.”

Invigor gets into blockchain with the crew behind Australia’s first Initial Coin Offering (Stockhead), Rated: A

Business data analyst Invigor is jumping into bed with blockchain developer ChronoBank.io to create a digital token for customer loyalty.

Invigor (ASX:IVO) and ChronoBank.io will develop a digital token called Infinity that’s designed to replace loyalty points with a digital, blockchain based solution.

Asia

Zilliqa (ZIL) joins the above $ 1 Billion Market Cap Cryptocurrencies! (Crypto Globalist), Rated: AAA

The growth of Zilliqa (ZIL) price has been at its peak since the beginning of Q2 having grown by 246% in the past month. Currently one would have to part with $0.1464 for a ZIL token which could vary by almost 20% within the coming week.

Although unpopular, ZIL token has managed to move 7 places up in market cap within only two weeks joining the above $1 billion cryptos. This digital asset comprises 0.2207% of the total cryptocurrency market right now.

Ripple [XRP] partners with Coinone to launch ‘Cross’ on xCurrent (AMBCrypto), Rated: A

Coinone Transfer, a payment business subsidiary of Coinone’s exchange platform, has joined RippleNet as a customer of Ripple’s xCurrent product. xCurrent is Ripple’s flagship product to allow bank-to-bank funds transfer around the world. Coinone will be the first exchange in the country to be a part of RippleNet.

The product will be used to power the launch and eventually become the framework of one of Coinone’s products known as ‘Cross’. Cross is a new remittance service, aimed at transferring funds across Southeast Asia on the Ripple blockchain.

Japan rolls out 5 new rules for cryptocurrency exchanges (CoinGeek), Rated: A

Japan’s Financial Services Agency (FSA) has introduced five new rules that apply to both existing cryptocurrency exchanges, as well as those that plan to enter the space at a later time, Nikkei reported.

The first requires that exchanges not store digital currency in computers that are connected to the Internet, and that computers storing the currency have multiple passwords for transferring currency.

The second item revolves around the exchange’s money laundering preventative measures, with the FSA stating that exchanges will “need to work harder to prevent money laundering, through such means as verifying customer identification for large transfers.”

The next criterion is a separation of customer assets from exchange assets.

There are currently 16 exchanges operating with government approval in Japan, with seven others operating pending approval.

Thailand’s Top Exchange Plans Blockchain Funding Market (CoinDesk), Rated: A

The Stock Exchange of Thailand (SET) has launched a crowdfunding marketplace that is built on blockchain technology in a bid to widen the access to capital funds for domestic startups.

According to an announcement from the Stock Exchange of Thailand (SET) on Friday, the new service, dubbed LiVE, uses blockchain to enable peer-to-peer trading in an effort to help startups access new capital from investors, including those drawn from the venture capital and institutional investor worlds.

Migration of TRON and EOS from ERC20 smart contract supported by Zebpay (AMBCrypto), Rated: B

On Monday 7th May 2018, Zebpay declared their support for the migration of the two cryptocurrencies EOS [EOS] and Tron [TRX]. At the moment EOS and Tron are operating from an ERC20 smart contract.

Eurasia

Cryptocurrency Recognized as Valuable Property by Russian Court (Bitcoin.com), Rated: AAA

A Russian arbitration court of appeals has recognized cryptocurrency as a property with value in its ruling on Monday. This overturned a previous ruling by another court even though Russia currently has no legal framework for cryptocurrencies.

MENA

Hackers Exploit Turkish University Servers to Mine Cryptocurrencies (BitsOnline), Rated: A

Turkish public research institute Sakarya University has had its computer systems compromised by hackers to mine cryptocurrencies.

The cryptojacking incident transpired as university students complained to management that the computers were running slower than usual. Upon investigation, experts concluded that university servers had been mining cryptocurrencies. The university has not made an official statement clarifying how the computers were compromised. According to Hurriyet Daily News, the university’s management is planning a fuller investigation into the incident.

Stock Photo Blockchain Company to Hold Cryptocurrency ICO (Adorama), Rated: A

But an Israeli company called Wemark is applying this technology to stock photography, with a stated aim of disrupting the traditional model used by the big stock photography websites.

Canada

Chat App Kik Launches Second Blockchain to Boost Its Token Economy (Fortune), Rated: AAA

Kik, the Canadian-based chat app, on Tuesday announced it’s launched its own blockchain as part of an effort to promote the use of its digital currency—known as Kin—in various online communities.

The move is notable because Kik, which raised $98 million dollars in a so-called “Initial Coin Offering,” already put its Kin currency into circulation on another blockchain, Ethereum, which it used to create and distribute 10 trillion Kin tokens last fall.

Latin America

How Blockchain Could Help Restore Power in Puerto Rico (Fortune), Rated: AAA

Bloomberg profiled an Australia-based company called Power Ledger has hired a grid resiliency and security expert to lead power restoration efforts in Puerto Rico. The startup is using blockchain technology to do this.

Kleros, a Justice Protocol for the Internet, Joins Thomson Reuters Incubator, Preps for ICO (Crowdfund Insider), Rated: B

Kleros, a blockchain dispute resolution layer protocol, has been accepted into the Thomson Reuters Incubator program.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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