- Today’s main news: Circle raises $110M for Ethereum coin backed by U.S. dollar. Coinbase launches 4 new products aimed at institutional investors. eToro to expand into U.S. Ripple to invest in XRP startups with Xpring. Vitalik Buterin acknowledges Liquidity Network. Nomura, Ledger partner on digital asset custody solution.
- Today’s main analysis: Coinbase strategy teardown (A MUST READ!).
- Today’s thought-provoking articles: How Coinbase plans to lure institutional investors to its platform. 8 reasons Bitcoin could fall another 50%. Deloitte surveys enterprise blockchain adoption. Alt Thirty Six wants to use Dash to make cannabis purchases happen. How blockchain, crypto transform angel investing. The demographics of crypto investors.
- Circle raises record-setting $110 million. AT: “The previous record for venture capital fundraising by a blockchain company was $107 million, and it was R3 Consortium. But just as interesting as the amount is the reason behind the funding. Circle plans to introduce an Ethereum coin backed by the U.S. dollar. The implications here are enormous.”
- Bitcoin may be down, but Circle is up.
- Coinbase seeks to lure institutional investors. AT: “If Coinbase succeeds in getting institutional money into crypto, that could change a lot of things.”
- How Coinbase plans to get institutional investors to play on its platform.
- Coinbase confirms Chicago office, plans to hire 100 engineers.
- Coinbase strategy teardown. AT: “This is a must-read, a CB Insights deep dive into Coinbase as a company, its customers, and the competition. A lot of detail, and a lot of very interesting charts and graphs.”
- Coinbase turns 6 years old.
- eToro to expand into the U.S.
- Ripple plans to invest in XRP-related startups with Xpring. AT: “This is a brilliant move, especially with the timing of it. Ripple wants to encourage the growth of its ecosystem, and what better way than to invest in the startups that will make it happen? To coincide with this move, Ripple’s CTO breaks off to start his own company, which is, of course, based on XRP (see next story down).”
- Ripple CTO steps down to start Coil.
- 8 reasons Bitcoin could drop another 50%. AT: “I see just as many reasons for Bitcoin to rise another 50%, but your guess is as good as mine.”
- Deloitte surveys enterprise blockchain adoption. AT: “39% of the companies surveyed plan to spend at least $5 million on blockchain technology in the next year. The fact that enterprise level companies are exploring blockchain initiatives is a good sign for the technology and the sector.”
- Alt Thirty Six want to make cannabis purchases happen through blockchain with Dash.
- What you missed at Consensus 2018.
- Foxconn joins $7 million funding round for Cambridge Blockchain.
- Litecoin can be transferred for free through Abra.
- goTenna allows Bitcoin trading with no internet connection.
- This is the year for institutional investors to buy Bitcoin, says Tabb.
- CNET founder invests in VideoCoin.
- Understanding cryptocurrencies.
- Amazon partners with Kaleido on blockchain-based software.
- Blockchain can solve timber, deforestation problems.
- NetObjex intros DLT with digital twin platform.
- HSBlox achieves SOC 2 Type II certification for DLT healthcare platform.
- How blockchain and cryptocurrency change angel investing.
- Ethereum Classic announces Ethereum Classic Labs.
- DNV invests in VeChain.
- IBM, Veridium Labs partner on blockchain for carbon-credit markets.
- ICO best practices.
- Sovrin Foundation appoints new executive director.
- Cambridge University prof joins Blockchain, criticizes Krugman and Roubini.
- deVere adds Stellar, Monero.
- Smart Valley connects ICO market players.
- 3 reasons asset managers don’t invest in crypto.
- Vitalik Buterin acknowledges Liquidity Network.
- BRD raises $32 million to add financial services to crypto wallet.
- Smart eCard stores 30 crypto accounts, credit and debit cards.
- Dex.top launches this month.
- Nomura, Ledger collaborate on digital asset custody solution.
- Japan sees sharp rise in crypto queries.
- Aurora Chain aims for 2000 TPS to compete with Ethereum.
- Bytecoin to clarify unexplained, unresolved issues on Reddit.
- Crypto is now regulated in Thailand.
- Opiria Platform launches in southeast Asia.
- Belarus: Alibabacoin to launch multi-crypto HD wallet.
- Russia: Authorities want to set up crypt investor registry.
- Israel: eToro studies demographics of crypto investors.
- Caribbean: Cayman’s offshore rivals target cryptocurrency market.
- Zimbabwe: Golix shuts down ICO.
- Canada: Jasper finds DLT for securities settlements viable.
- United States
- Cryptocurrency Startup Circle Raised $ 110M For Ethereum Coin Backed By U.S. Dollars (Forbes), Rated: AAA
- Bitcoin May Be Down, but a Digital Currency Startup Still Soars (WSJ), Rated: A
- Coinbase is trying to lure big institutional investors into the volatile market (CNBC), Rated: AAA
- How Coinbase Plans to Lure Institutional Investors Onto Its Platform (Bloomberg), Rated: AAA
- Coinbase Confirms Chicago Office, Plans to Hire 100 Engineers in 3 Years (American Inno), Rated: A
- Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto Doing $ 1B In Revenue (CB Insights), Rated: AAA
- Coinbase Celebrates 6th Birthday Following Biggest Year Yet (CryptoCoin Mastery), Rated: B
- Social Cryptocurrency Trading and Brokerage Firm eToro Is Expanding to U.S. (Bitcoin Magazine), Rated: AAA
- Ripple Launches ‘Xpring’ Initiative to Invest in XRP-Focused Startups (CoinDesk), Rated: AAA
- CTO of Ripple steps down, announces a new company ‘Coil’ (AMBCrypto), Rated: A
- 8 Reasons Bitcoin Could Drop By Another 50% (The Motley Fool), Rated: AAA
- Deloitte Surveys Enterprise Blockchain Adoption (PC Mag), Rated: AAA
- Consensus 2018: What You’ve Missed So Far From The Biggest Bitcoin Event (Forbes), Rated: A
- iPhone Maker Foxconn Joins $ 7M Series A In Enterprise Blockchain Startup (Forbes), Rated: A
- Litecoin [LTC] now can be transferred for free on Abra as testing is under way (AMBCrypto), Rated: A
- This app lets you trade Bitcoin without an internet connection – but there’s a catch (The Next Web), Rated: A
- This may be the year that institutional money will buy bitcoin, markets research firm Tabb says (CNBC), Rated: A
- CNET Founder Backs $ 50 Million ICO for Video Streaming (CoinDesk), Rated: A
- How A Blockchain Startup Hopes To Take The Cannabis Industry Cashless (Forbes), Rated: AAA
- Data Sheet—The Long Road to Understanding Cryptocurrencies (Fortune), Rated: A
- Amazon partners-up to offer easy Ethereum-based blockchain software (Crypto News Review), Rated: A
- How Deforestation And Timber Issues Can Be Battled With Blockchain (Forbes), Rated: A
- Cryptocurrencies and Basic Income: What is SwiftDemand? (BasicIncome.org), Rated: B
- NetObjex Introduces new Distributed Ledger Capabilities in its Digital Twin Platform (PR Newswire), Rated: B
- Healthcare Blockchain Leader HSBlox Achieves SOC 2 Type II Certification for Distributed Ledger Platform (PR Newswire), Rated: B
- Angels, Blockchain, and Cryptocurrency: The Positive Transformation of Angel Investing (Global Banking and Finance), Rated: AAA
- Ethereum Classic (ETC) Has Just Announced Ethereum Classic Labs (CryptoRecorder), Rated: A
- Global Consultant DNV Invests in Blockchain Startup VeChain (CoinDesk), Rated: A
- IBM and Veridium Labs partner to use blockchain technology to improve carbon-credit markets (MarketWatch), Rated: A
- Initial Coin Offering Best Practices: Old Rules Still Apply (Crowdfund Insider), Rated: B
- The Sovrin Foundation appoints Heather C. Dahl as Executive Director (GlobeNewswire), Rated: B
- European Union
- Ethereum Founder Acknowledges Promising Solution To Blockchains’ Scalability Problem (Forbes), Rated: AAA
- BRD crowdraises $ 32 million to build financial services into a mobile crypto wallet (TechCrunch), Rated: A
- ‘Smart eCard’ Stores 30 Crypto Accounts, Credit And Debit Cards In One Place (CoinTelegraph), Rated: A
- Smart Contract-Based Decentralized Exchange Dex.top Launches This Month (Bitcoin.com), Rated: B
- United Kingdom
- Cambridge University’s first crypto academic on joining Blockchain and why economists like Paul Krugman and Nouriel Roubini are wrong (Business Insider), Rated: AAA
- Stellar And Monero Added To deVere Crypto Exchange Due To Public Demand (Mondo Visione), Rated: A
- Smart Valley – A Digital Silicon Valley That Will Connect All ICO Market Players (CoinTelegraph), Rated: A
- The three reasons asset managers do not invest in cryptocurrencies (Financial News), Rated: B
- Nomura Launches Collaboration to Create ‘Digital Asset Custody Solution’ (Finance Magnates), Rated: AAA
- Japanese Regulator Sees Sharp Spike in Cryptocurrency Queries in Q1 2018 (CCN), Rated: AAA
- South Korea’s Aurora Chain Aims for 2000 TPS In Competition with Ethereum (CryptoSlate), Rated: A
- Bytecoin [BCN] team finally steps up to clarify the unexplained and unresolved woes (AMBCrypto), Rated: A
- By royal decree, cryptocurrency is now regulated in Thailand (CoinGeek), Rated: A
- Launch of Opiria Platform in South East Asia (Medium), Rated: A
- Alibabacoin will soon launch the highly secure multi cryptocurrency HD wallet (Digital Journal), Rated: AAA
- Russian authorities are thinking about the identification of crypto-investors (Toinnov), Rated: A
- eToro Conducts Massive Study on the Demographics Behind Crypto Investors (Bitcoin Exchange Guide), Rated: AAA
- Cayman’s offshore rivals target crypto market (Cayman News Service), Rated: AAA
- Golix Suspends ICO: Why Did They Go Forward With It In The First Place? (TechZiM), Rated: AAA
- Canada’s Project Jasper finds DLT is viable for securities settlement (Central Banking), Rated: AAA
Cryptocurrency Startup Circle Raised $ 110M For Ethereum Coin Backed By U.S. Dollars (Forbes), Rated: AAA
Cryptocurrency startup Circle Internet Financial has raised $110 million in venture capital to build out what its founders hope will finally be the internet of value.
Led by Beijing-based Bitcoin hardware provider Bitmain, the round of investment is the largest venture capital round ever raised by a cryptocurrency or blockchain company, eclipsing banking consortium R3, that last year raised a $107 million round.
But what is perhaps of even greater note than the investment itself is how the company is planning to spend that money. Also revealed today, the Boston-based company that had previously raised $136 million is launching the US Dollar Coin, a cryptocurrency that uses the Ethereum blockchain and is intended to be backed by actual US dollar.
Bitcoin May Be Down, but a Digital Currency Startup Still Soars (WSJ), Rated: A
A digital-currency startup backed by Goldman Sachs Group Inc. is now worth about $3 billion after a new fundraising round.
Circle Internet Financial Ltd. disclosed the new valuation Tuesday, making it one of the most highly valued financial technology startups in the U.S.
The San Francisco-based company announced the launch on Tuesday of four new products aimed at that investor class: Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime.
“We think this can unlock $10 billion of institutional investor money sitting on the sideline,” said Adam White, vice president and general manager. “We’re seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.”
How Coinbase Plans to Lure Institutional Investors Onto Its Platform (Bloomberg), Rated: AAA
Coinbase Confirms Chicago Office, Plans to Hire 100 Engineers in 3 Years (American Inno), Rated: A
Coinbase has confirmed that it’s opening a permanent Chicago office, and it’s planning to hire 100 employees in the next three years.
Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto Doing $ 1B In Revenue (CB Insights), Rated: AAA
As of Coinbase’s last reporting, in late November 2017, the company had 13.3M users and 45.2M wallets (users generally have more than one wallet, each for a different cryptoasset).
Custody provides financial controls and storage solutions for institutional investors to trade cryptoassets. The service is geared toward larger players on Wall Street and costs $100,000 in initial setup fees, a management fee of 10 basis points monthly on AUM, and a minimum balance of $10M. Coinbase plans to launch Custody early this year.
According to data aggregated by Alistair Milne of Altana Digital Currency Fund, Coinbase was adding users in November at a rate of 100,000 per day. Although Coinbase has stopped publishing real-time user metrics, its site claims over 10M customers served and over $50B in cryptoassets exchanged.
Assuming an average 3% fee for Coinbase transactions and $50B exchanged, total revenue of the company (since inception) would be $1.5B.
Coinbase made $1B+ in revenue in 2017 alone. At the end of Q3’17, the company was projecting a 2017 total of just $600M, well under its actual.
These issues have expressed themselves in Coinbase’s app reviews; the app is currently rated an average of 3.6 stars based on 16,107 reviews (as of January 8th, 2017), and has been garnering a larger percentage of 1-star ratings in recent months.
At around 7pm EST on December 19th, 2017, Coinbase surprised users by listing a fourth asset: bitcoin cash. Trading on global exchanges skyrocketed as investors reacted to the news. A day after the announcement, bitcoin cash closed at $4,000 on some exchanges, up from around $2,200 two days earlier. Volume soared as well, from $2.5B on December 18th, to almost $12B on December 20th, an increase of 380%.
However, almost none of this trading was happening on Coinbase. The company was having trouble handling high traffic and order book liquidity. Four minutes after listing bitcoin cash, with the price swinging from $3,500 to near $9,000 on its exchange, Coinbase paused its bitcoin cash order book.
Although the company achieved unicorn status at a valuation of $1.57B in its $100M Series D in August 2017, recent disclosed revenue numbers ($1B in 2017) suggest it might fetch higher offers today.
Coinbase Celebrates 6th Birthday Following Biggest Year Yet (CryptoCoin Mastery), Rated: B
As Coinbase celebrates its 6th birthday, many have stopped to pay their homage to one of the largest and most influential crypto exchanges in the world.
Social Cryptocurrency Trading and Brokerage Firm eToro Is Expanding to U.S. (Bitcoin Magazine), Rated: AAA
Israeli-based social trading platform eToro is expanding to the U.S. If all goes according to plan, U.S. citizens will be able to trade cryptocurrencies on the company’s platform sometime later this year.
Ripple Launches ‘Xpring’ Initiative to Invest in XRP-Focused Startups (CoinDesk), Rated: AAA
Announced Monday, Xpring (pronounced “spring”) will to invest in, acquire and provide grants to “serious” projects and companies run by “proven” entrepreneurs, a company release states.
The venture capital fund will only provide support to startups and projects that make use of the digital asset XRP and the open-source XRP Ledger – blockchain technology with which Ripple has built tools aimed at enterprise businesses.
CTO of Ripple steps down, announces a new company ‘Coil’ (AMBCrypto), Rated: A
Stefan Thomas, the inventor of the Interledger Protocol, announced today that he will be stepping down as the CTO of Ripple and starting a new company known as Coil. Coil is aimed at enabling monetary support of content through micropayments. Coil works with the Interledger Protocol and the XRP token to enable these transactions.
“One reason I chose this timing for
@Coil is because @Ripple is in a great position. We recently filled several key engineering roles with fantastic people. @Interledger (ILPv4) is done. Q1 2018 has been our best sales quarter ever. I have max confidence in the @Ripple team.”
8 Reasons Bitcoin Could Drop By Another 50% (The Motley Fool), Rated: AAA
Owners who got in on the world’s first cryptocurrency craze as recently as a year ago have enjoyed wonderful success and are currently up about 577%, though late comers who bought in at the turn of the New Year are down almost 40%.
- Bitcoin’s slow network – It is estimated that the bitcoin network can only handle between 3.3 and 7.0 transactions per second.
- High transaction costs
- Increased competition
- The innovation is the blockchain, not bitcoin
- Wild volatility makes for a poor store of value
- Increased regulations
- Too expensive too mine – Based on the current cost of electricity, a bitcoin costs an average of $4,758 to mine in the United States and, in other countries, it can cost much more.
- Not secure enough
Deloitte Surveys Enterprise Blockchain Adoption (PC Mag), Rated: AAA
Deloitte also announced the results of its most recent blockchain survey, which polled 1,053 execs across industries. The survey found at 74 percent of enterprises see a “compelling business case” for blockchain, and 34 percent already have a blockchain system in product. Forty-one percent of respondents expect their businesses to deploy a blockchain app in the next year.
The survey also found that nearly 40 percent of enterprises will invest $5 million or more in blockchain tech in the coming year.
Consensus 2018: What You’ve Missed So Far From The Biggest Bitcoin Event (Forbes), Rated: A
It’s not just Consensus which is bringing the crowds of course, with this week the first Blockchain Week New York. A full week of some 20 blockchain related events, some of which carry similar ticket prices, are scheduled around Consensus.
FedEx CEO calls blockchain the next “big disruption”
Fred Smith, chairman and chief executive of the U.S. logistic giant FedEx, yesterday said: “Blockchain has the potential to completely revolutionize what’s across the border.”
Joe Lubin and Jimmy Song made a bet about the future of blockchain tech
Jimmy Song, a partner at Blockchain Capital, and Joe Lubin, the founder of the Ethereum startup studio Consensys (not to be confused with this event), took part in a fiery on stage debate yesterday which ended in a bet over the future of blockchain tech.
Song said: “I don’t really see much of this stuff gaining much traction. Bitcoin is the real innovation here.”
iPhone Maker Foxconn Joins $ 7M Series A In Enterprise Blockchain Startup (Forbes), Rated: A
The venture capital arm of Foxconn has joined a $7 million Series A round in Cambridge Blockchain, a startup that specializes in helping enterprises ensure they know who their customers are in compliance with regulatory requirements.
Litecoin [LTC] now can be transferred for free on Abra as testing is under way (AMBCrypto), Rated: A
Abra CEO and Founder, Bill Barhydt have recently announced that it is testing an immediate, free of Abra charges, a limitless transfer from other wallets. Notably, it limits bank account transfers to $2000 and also takes one to two business days to process the transfer. As far as American Express transfers are concerned, it charges 4% Abra fee and limits the transfer up to only $200 per day.
This app lets you trade Bitcoin without an internet connection – but there’s a catch (The Next Web), Rated: A
goTenna, a decentralized communications startup based in New York, has partnered with Samourai Bitcoin Wallet to create an app that lets you trade Bitcoins even when your device isn’t connected to the web.
But, it won’t be all that simple though. For one, you will need to have a goTenna mesh device that costs $179. The device pairs with your phone to create a mesh network with other goTenna users, allowing you to transmit information over a long range without cellular data or Wi-Fi, using UHF frequencies.
This may be the year that institutional money will buy bitcoin, markets research firm Tabb says (CNBC), Rated: A
This is the year that institutional money will come into the cryptocurrency market, thanks to the development of trading infrastructure, Tabb Group said Tuesday.
“If 2017 was the year cryptocurrencies went mainstream, then 2018 is certainly shaping up to be the year they go institutional,” the capital markets research and consulting firm said in a report by senior analyst Monica Summerville and colleagues.
CNET Founder Backs $ 50 Million ICO for Video Streaming (CoinDesk), Rated: A
Streaming a TV show or a sports game directly to your laptop doesn’t make big TV networks much money today.
However, that might change if VideoCoin, a new decentralized project that’s taking aim at the price major broadcasters and media companies pay to stream content, succeeds on its vision.
Leading investors included Galaxy Investment Partners, Alphabit Fund, ethereum co-founder Anthony Di Iorio, Akamai Co-Founder Randall Kaplan and Science Blockchain.
“What we’re building is the next-generation infrastructure for how you do video processing and distributed services,” Minor, best known as the founder for the tech media website CNET, said.
How A Blockchain Startup Hopes To Take The Cannabis Industry Cashless (Forbes), Rated: AAA
Thanks to marijuana’s Schedule I status, banks are wary of working with state-regulated businesses. Despite the U.S. Treasury Department’s FINCEN guidance to working with marijuana-related businesses, most major financial institutions are unwilling to take on the risk or the regulatory burdens. This leaves cannabis companies scrambling for the handful of credit unions and smaller institutions that are willing to serve the growing, multi-billion-dollar industry.
Blockchain payments platform Alt Thirty Six hopes to remedy this state of affairs by providing marijuana retailers a means to accept electronic payments. The company announced the hiring of Don Schroeder in April, whose work at First Data helped bring cashless payments to fast-food giants like McDonald’s. On Tuesday, the company is announcing a partnership with cannabis software company WebJoint.
The dispensaries that currently use WebJoint will be able to accept digital payments through Alt Thirty Six, which uses Dash, a type of cryptocurrency.
Data Sheet—The Long Road to Understanding Cryptocurrencies (Fortune), Rated: A
I’m on a quest to understand cryptocurrencies, blockchain technology, and other of life’s imponderables. I plan to continue this journey until everyone else stops talking about them because 1) they crash, burn, and otherwise drift off into irrelevancy, or 2) become co-opted into topics like “currency” and “finance” and “software” and cease to be interesting in their own right. To wit, even though they have no idea how it works, no one struggles to grasp this electricity concept anymore. They just accept it.
Amazon partners-up to offer easy Ethereum-based blockchain software (Crypto News Review), Rated: A
The retail and computing giant is teaming up with a new company called Kaleido, which will produce easy-to-implement blockchain-based software for the company based around Ethereum’s smart contract system – meaning companies, as Kaleido founder Steve Cerveny told CNBC, “can focus on their scenario and they don’t have to become PhDs is cryptography”.
How Deforestation And Timber Issues Can Be Battled With Blockchain (Forbes), Rated: A
About 30% of the world’s landmass is covered by forests. While that may seem like quite a bit, sections of forests amounting to half the size of England are lost every year.
Illegal logging is a multi-billion dollar industry, depressing timber prices and generating $10-15 billion annually in criminal proceeds. The term “illegal logging” covers a wide variety of transgressions, including logging of protected species, logging in protected areas, and logging with fake or illegally obtained permits.
Cryptocurrencies and Basic Income: What is SwiftDemand? (BasicIncome.org), Rated: B
The concept of SwiftDemand is to create a transactional currency that provides basic income. Hence, four types of accounts are required to ensure that the ecosystem works:
- Citizens – The registration to become a Swift Citizen is open to anyone and is for free. However, a unique individual should only be allowed to have one account that receives the basic income and is validated by an Identity Provider.
- Entities – There are accounts not tied to individuals and are allowed to exist for business or privacy purposes. However, these do not receive any basic income.
- Delegated Nodes – these are responsible for maintaining full nodes, containing every single transaction that has occurred on the blockchain, and for creating new blocks for the tokens. Delegated nodes are elected by Swift Citizens, and the elections occur every 6 months.
- Identity Providers – These ensure the validation of the Swift Citizens identity, create new citizens by generating a key pair, i.e. a public and a private key allowing to encrypt information that ensures data is protected during a transaction, and include the identity on the blockchain.
NetObjex Introduces new Distributed Ledger Capabilities in its Digital Twin Platform (PR Newswire), Rated: B
NetObjex today introduced several new Distributed Ledger aggregation features in its NetObjex’s flagship Digital Twin Platform as a Service. The announcements include a number of new features that set the NetObjex platform clearly apart from the competition in the market.
First, is a set of Distributed Ledger Technology (DLT) interoperability capabilities that enable the platform to write, search, and aggregate data across multiple distributed ledger technologies such as Ethereum, IOTA, NEM and Hyperledger. Support for other distributed ledgers are planned.
Second, is support for a flexible, pluggable, decentralized identity management capability which includes support for NetObjex’s native Universal Blockchain ID, interoperability with Digital IDs such as Civic and others.
Healthcare Blockchain Leader HSBlox Achieves SOC 2 Type II Certification for Distributed Ledger Platform (PR Newswire), Rated: B
HSBlox, LLC today announced that it has completed the SOC 2 Type II Attestation report for its Distributed Ledger Platform and the applications built on it. Conducted by Grant Thornton LLP, an independent global professional services firm, the audit affirms that HSBlox’s information security practices, controls, policies, procedures, and operations meet the SOC 2 standards for Security, Availability, Privacy and Confidentiality trust principles.
Angels, Blockchain, and Cryptocurrency: The Positive Transformation of Angel Investing (Global Banking and Finance), Rated: AAA
Cryptocurrency remains high on the agenda of businesses and organizations across the globe, as many continue to monitor its impact on the investment community and the opportunities it is creating for both entrepreneurs and investors. During a recent keynote presentation on this very subject at the 2018 World Angel Investment Forum Annual Congress, Brad Bulent Yasar, the Founder and Managing Partner of KrowdMentor and the Blockchain Investors Consortium (BIC), revealed the positive transformation that Blockchains and Cryptocurrencies are having on Angel Investment.
Ethereum Classic (ETC) Has Just Announced Ethereum Classic Labs (CryptoRecorder), Rated: A
The last week was in the sign of Blockchain week that took place in New York City. On this occasion, many visitors have had a chance to learn more about the digital assets that were a part of this summit, as well as to enter a clever introspective on what blockchain technology is all about.
On this occasion, Ethereum Classic took advantage of the good atmosphere, announcing the official launching of Ethereum Classic Lab incubator.
Global Consultant DNV Invests in Blockchain Startup VeChain (CoinDesk), Rated: A
Norway-based registrar organization DNV GL has invested in blockchain startup VeChain as part of an expansion of an existing working relationship.
While the companies did not reveal the amount of the investment, VeChain CEO Sunny Lu told CoinDesk that the companies would continue their partnership, which uses VeChain’s network to securely store supply chain management data. The move marks one of the first enterprise investments in the VeChain network, he added.
IBM and Veridium Labs partner to use blockchain technology to improve carbon-credit markets (MarketWatch), Rated: A
U.S.-based multinational IBM is joining forces with Hong Kong’s Veridium Labs to use blockchain, the distributed ledger technology, to increase the efficiency in the carbon-credit market and make the process of offsetting carbon credits easier.
Initial Coin Offering Best Practices: Old Rules Still Apply (Crowdfund Insider), Rated: B
- Build a community before jumping into a pre-sale
- Have a clear route to monetization
- Wisely use token economics to bootstrap through the network effect
- Build financial governance into smart contracts
- Be very transparent about the use of the funds raised
- Have a cap on the money you want to raise
- Do KYC/AML on incoming fiat and crypto
- Require good value from your marketing
- Have an ICO term document similar to a prospectus
The Sovrin Foundation appoints Heather C. Dahl as Executive Director (GlobeNewswire), Rated: B
The Sovrin Foundation announced the appointment of Heather C. Dahl as the organization’s first permanent executive director. Dahl, an experienced technology researcher, business executive and entrepreneur, replaces interim director Steve Fulling, who will who will move to a new role working with Sovrin Foundation Stewards.
Ethereum Founder Acknowledges Promising Solution To Blockchains’ Scalability Problem (Forbes), Rated: AAA
Blockchain projects are often pretty ephemeral and don’t last past the hype, but the thing that has Buterin and many others excited about is the idea behind the project, Liquidity.Network. It brings potential for blockchain and cryptocurrency to scale and be widely accepted and woven into our daily lives.
Secondly, a big problem that is currently faced in the blockchain space is the high transaction fees that are attached even to very small payments. High transaction fees make micropayments in cryptocurrency unworkable and can also make promotional activities like ‘airdrops’ an expensive exercise.
BRD crowdraises $ 32 million to build financial services into a mobile crypto wallet (TechCrunch), Rated: A
Crypto wallets can’t remain crypto wallets for long. There is so much competition and so many scammers that value-added features like financial services are de rigueur. BRDknows this quite well and is putting $32 million behind the platform to grow out the features and cryptocurrencies supported on their popular app.
The team has 1.1 million users in 170 countries and 76% of those are iOS. They’ve received 71% of their customers in the past year, a fact that attests to the recent popularity of cryptocurrencies. They have $6 billion of crypto assets under protection.
‘Smart eCard’ Stores 30 Crypto Accounts, Credit And Debit Cards In One Place (CoinTelegraph), Rated: A
FuzeX has created a smart eCard that enables shoppers to store up to 15 cryptocurrency accounts, 10 debit or credit cards and five reward accounts in one place. Buttons integrated into the eCard allow users to decide which account they want to use to make a purchase, with the current balance for each shown on an ePaper display so they can be aware and confident of having adequate funds. The eCard’s battery life lasts for 45 to 60 days, and it is easily rechargeable.
Smart Contract-Based Decentralized Exchange Dex.top Launches This Month (Bitcoin.com), Rated: B
The Switzerland-based exchange, Dex.top, is an open source decentralized trading platform incubated by the well-known blockchain firm Bitmain Technologies. Unlike traditional cryptocurrency exchanges, Dex.top is built from a smart contract that is compatible with both the Ethereum and RSK networks. The organization claims that all assets are kept within a smart contract and are never held by the exchange.
Cambridge University’s first crypto academic on joining Blockchain and why economists like Paul Krugman and Nouriel Roubini are wrong (Business Insider), Rated: AAA
Hot cryptocurrency company Blockchain has hired academic Dr. Garrick Hileman as its first head of research.
Stellar And Monero Added To deVere Crypto Exchange Due To Public Demand (Mondo Visione), Rated: A
With the additions of Stellar Lumens (XLM) and Monero (XMR), users of deVere Crypto, deVere Group’s crypto platform app, can now buy, sell, store and exchange seven major cryptocurrencies. Existing digital coins on the app were Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP) and Dash (DASH).
Smart Valley – A Digital Silicon Valley That Will Connect All ICO Market Players (CoinTelegraph), Rated: A
The Ethereum-based Smart Valley platform will bring together ICOs, backers, and experts from across the globe, creating a unique and dynamic ecosystem.
Smart Valley developers call the new platform a digital Silicon Valley. The project will not only connect the main ICO market players, but also create a nurturing environment for each ecosystem participant to make an input in the blockchain industry development.
The three reasons asset managers do not invest in cryptocurrencies (Financial News), Rated: B
Regulatory clarity — Cryptocurrencies are currently largely unregulated, but various global lawmakers are exploring how they can better oversee this growing market.
Institutional grade data — There are also no rules about what data needs to be reported, unlike in more mature markets such as equities or fixed income.
Enterprise-ready infrastructure — Unlike when investing in equities where there are exchanges, brokers and custodians in place to deal with trades, this is still being put in place in the virtual currency market.
Nomura Launches Collaboration to Create ‘Digital Asset Custody Solution’ (Finance Magnates), Rated: AAA
Japanese financial holdings company Nomura, crypto wallet manufacturer Ledger, and management consulting firm Global Advisors have announced a collaboration to form ‘Komainu,’ a secure digital asset custody solution.
The initiative is specifically targeted towards creating digital asset storage options for institutional investors and crypto firms who have large storage needs; Komainu is also attempting to address the need for storage solutions compliant with regulations.
Japanese Regulator Sees Sharp Spike in Cryptocurrency Queries in Q1 2018 (CCN), Rated: AAA
According to numbers disclosed by the Financial Services Agency’s (FSA) Counseling Office for Financial Services Users on Friday, the authority fielded a total of 3,559 enquiries about cryptocurrencies during Q1 2018. That figure is up over 3 times from that of the final quarter of 2017 with a total of 1,141 enquiries at the time, underlining the frenetic growth in interest in cryptocurrencies.
36 percent of the total inquiries related to general questions whereas 29 percent, a little over 1,000 queries related to their administration (regulation). A further 23 percent of those questions pertained to specific crypto-related transactions and individual contracts.
South Korea’s Aurora Chain Aims for 2000 TPS In Competition with Ethereum (CryptoSlate), Rated: A
Aurora Chain, also known as project Abitchain on their website, is the latest iteration to a smart contract platform that welcomes a variety of industry applications through its unique composition.
Aurora Chain seeks to resolve the issues that lie with current smart contract platforms – congestion, scalability, and upgradeability – through the implementation of DPOS and BFT consensus mechanisms, along with select features that enhance its overall performance.
Bytecoin [BCN] team finally steps up to clarify the unexplained and unresolved woes (AMBCrypto), Rated: A
Almost a week full of drama with repeated pumps and dumps associated with the much-speculated coin, Bytecoin [BCN]. This began with the currency springing up to the 15th rank in the market last week with a price surge of 166%, following the Binance listing. This overload could not be handled by most of the major platforms including Binance along with HitBTC and Poloniex. CoinMarketCap was also in the list to display an error with Bytecoin details.
“Just wanted to let everybody know that the #Bytecoin Team will be hosting an #AMA in our subreddit (https://www.reddit.com/r/BytecoinBCN/ ) on Wed May 16th (17:30-19:00GMT+1) The AMA will be focused on the #Binance listing and the recent technical issues. Please stay tuned for more information!”
By royal decree, cryptocurrency is now regulated in Thailand (CoinGeek), Rated: A
Thailand’s royalty understands the importance of cryptocurrency. The country has created the regulatory framework that outlines cryptocurrencies, signed off on by a royal decree, the Bangkok Post reported. The new laws, which are comprised of 100 different sections, was published in Thailand’s Royal Gazette and defines digital currency equally as “digital assets and digital tokens.” Cryptocurrency is fall under the regulatory jurisdiction of Thailand’s Securities and Exchange Commission (SEC).
Launch of Opiria Platform in South East Asia (Medium), Rated: A
We are excited to announce that Opiria is moving forward towards the next step to meet the goals of our global expansion roadmap. Together with our Malaysian partner SDS Associates we launched the Opiria Platform in South East Asia at the Asia Pacific ESOMAR Conference and Exhibition in Thailand.
Alibabacoin will soon launch the highly secure multi cryptocurrency HD wallet (Digital Journal), Rated: AAA
ABBC Foundation’s Alibabacoin is soon going to become one of the few coins to offer a highly secure multi cryptocurrency HD wallet that will support 8 types of cryptocurrencies including ABBC, Bitcoin, Ethereum, Dash, Litecoin, Qtum, Bitcoin Cash, and Ripple. It will allow the users to switch from one crypto to another instantly. The HD wallet will also support features like facial recognition, multi-crypto storage function, crypto trading, pin code transaction confirmation, online shopping mall connection as well as crypto payment. The wallet users will have their own private keys, enabling the crypto holders to take responsibility and full authority of their own assets.
Russian authorities are thinking about the identification of crypto-investors (Toinnov), Rated: A
Owners of digital currencies in the near future will have to step out of the shadow: the Russian authorities are going to get all information about them to create a register of crypto-investors. As the chairman of the Duma committee for the financial market Anatoly Aksakov said, this measure will help prevent new cases of money laundering. It is important to note that the Russian Association of Crypto-Currency and Block-Finish (RACIB) gave a positive assessment to the lawmaking initiative.
The President of the National Rating Agency Viktor Chetverikov also considers it necessary to create a register of crypto-investors.
eToro Conducts Massive Study on the Demographics Behind Crypto Investors (Bitcoin Exchange Guide), Rated: AAA
Online trading platform eToro recently completed a massive study on the demographics behind cryptocurrency users. According to eToro, the average cryptocurrency user is either a male student, a male IT services professional, or a male salesperson.
Cayman’s offshore rivals target crypto market (Cayman News Service), Rated: AAA
Local Cayman Islands fund directors have said that the biggest problems for potential ICO issuers or crypto-related funds is the difficulties involved in AML compliance, in particular demonstrating the source of funds in any fundraising because investors often subscribe with other cryptocurrencies. Other issues include the custody of funds that are held in a digital wallet, compared to the traditional arrangement where a bank holds a share certificate for an investment manager.
Most legitimate corporate service providers in Cayman, meanwhile, would likely not take on business from an ICO that has not had the right legal advice to understand its obligations under relevant Cayman law, including anti-money laundering regulations.
Golix Suspends ICO: Why Did They Go Forward With It In The First Place? (TechZiM), Rated: AAA
In what will come as good news to the RBZ; Golix has suspended their ICO. They sent out a statement apologising for the inconvenience. You can read the statement below:
On Saturday 12 May 2018, we announced that we will be doing a tokensale. This announcement was a mistake on our part, as it happened sooner than it should have, and had not taken account of all pertinent issues. Updates on this will be provided in due course. Any inconvenience causes is sincerely regretted
Canada’s Project Jasper finds DLT is viable for securities settlement (Central Banking), Rated: AAA
In the third stage of the central bank’s DLT initiative, Project Jasper, the Bank of Canada demonstrated that the instantaneous clearing and settlement of securities on-ledger “is feasible”.