Daily News Digest Featured News

Tuesday April 17 2018, Daily News Digest

LTC USD
Source: Nasdaq

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United States

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European Union

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News Summary

United States

Coinbase is buying Earn.com for about $ 100 million in a deal that is mostly about one key hire (recode), Rated: AAA

In a deal that shows how the cryptocurrency platform continues to mature and expand, Coinbase is buying Earn.com, a portal that allows people to make money by answering emails or completing other tasks.

Coinbase’s offer was slightly more than $100 million, according to people familiar with the deal, though with some juicy earn-outs for Earn leadership. Earn encountered some pushback from its investors at that sale price because that’s a sharp decrease from its last round of private financing in 2015 — $310 million before the new cash, according to PitchBook — though later investors will as usual be paid out first.

A huge part of the deal’s appeal to Coinbase is the chance to bring Balaji Srinivasan, a well-regarded former Andreessen Horowitz partner, into their headquarters. Srinivasan will become Coinbase’s CTO as the company continues to aggressively fill out its C-suite in the early part of this year.

Coinbase To Boost Toshi Dapp By Taking Features From Recently Acquired Cipher Browser (CoinTelegraph), Rated: B

Coinbase has recently acquired Cipher Browser, a wallet based on Ethereum(ETH) Blockchain, and decentralized app (Dapp) developer, to improve its own similar project Toshi Ethereum network browser, according to a Coinbase tweet on Friday, April 13.

Crypto Chart Analysis: Litecoin Still Heavy, Bitcoin T-line Resistance (Nasdaq), Rated: AAA

Looking below the recent low at 109.54, the spike-low from February at 102 is viewed as next up as support. A break below there and the psychological level of 100 could see Litecoin reeling even further in the not-too-distant future.

LTC USD
Source: Nasdaq

BTC/USD Daily Chart (Resistance just ahead)

BTC USD
Source: Nasdaq

Experts Weigh in on Cryptocurrency Price Recovery Amidst Institutional Interest (CoinJournal), Rated: AAA

Bitcoin looks like it will end the week with a 15% price increase and all but four of the top 100 cryptocurrencies by market capitalization are still showing green. Investors are demonstrating increased confidence illustrated by trading volumes.

Thursday’s sudden price increase for Bitcoin is the result of what experts term a “short squeeze” and it sparked a frenzy of activity in the charts.

cryptocurrency breakout
Source: CoinJournal

The orange and blue dotted lines represent the tight range, between $6500 and $7500, that bitcoin has been trading in for the past two weeks.

 

Valuing Cryptocurrency Assets Warned As Thorny For Financial Advisers (Forbes), Rated: A

The wide range of factors come into play in putting an accurate value on the assets  are important because valuation helps determine the performance of the cryptocurrency accounts and fees charged investors, attorneys from the law firm of Seward & Kissel told the audience.

One factor complicating valuation they said is the aggregate trading volume of the top five Bitcoin exchanges accounts for only 26% of the global trading volume.

Why Does Ripple Want More Government Regulation? (Investopedia), Rated: A

The general cryptocurrency markets are expected to benefit from regulation because it will bring new investors and order. Ripple, itself, also stands to benefit from increased regulation. Its products assist in implementing existing regulatory initiatives for customers. For example, xCurrent, the company’s product for messaging between banks, complies with existing regulatory processes. “Based on individual domestic regulations, Ripple supports each bank to identify and assist with meeting all regulatory requirements,” the product’s brochure states.

But their main benefit comes from simplifying and expediting the complex rulebook that dictates cross-border transfers. Within the current regulatory framework, individual governments are responsible for writing and implementing regulations. This increases costs and complexity of operations for financial services institutions. In its statements, Ripple has repeatedly called for an international framework for its product suite. Regulatory clarity in a changed financial ecosystem will help increase the market for its products and bring in new customers for Ripple.

Ripple, not Bitcoin, will convert crypto cynics (Bankless Times), Rated: B

The prediction from Nigel Green, the founder and CEO of deVere Group, comes as Ripple (XRP) experienced a spike last week, adding another $62 billion to its market value.  The cryptocurrency also broke some key resistance, such as  $0.6500 and $0.6600, nudging it towards the important $0.7000 level against the dollar.

Is This The Biggest Myth About Cryptocurrency? (Forbes), Rated: A

Total cryptocurrency market capitalization is now at $321,233,020,883 according to CoinFi, a cryptocurrency market intelligence platform. Given that, it’s no surprise most know about it. But that’s where the knowing stops, according to December 2017 survey data.

Of the 1,035 American adults polled for the survey, 78 percent didn’t know where to buy cryptocurrencies and another 66% didn’t know what an “ICO” was.

One of the biggest myths surrounding cryptocurrency is that it has no real value or practical application.

Cryptocurrency Evangelist Robbed of Millions During YouTube Live Stream (Beebom), Rated: A

Ian Balina, a renowned cryptocurrency investor, advisor and evangelist who was famous for his YouTube videos where he reviewed cryptocurrency trends, has been robbed of around $2 million during a livestream session.

cryptocurrency theft
Source: TheNextWeb

Opiria (PDATA) Viability and Strategy Assessment (VISTA) Report (Strategic Coin), Rated: A

Community Score: 3.7 / 5.0
• At this early stage, Opiria’s community interest and network strength is difficult to gauge. However, social media growth has been healthy – the Telegram channel has grown to ~16,000 members since Feb-2018, and its Twitter account has amassed to over 3,500 followers. Additionally, Opiria has hired dedicated community managers (internally) and AmaZix (externally) to interact and update the community with ongoing developments.
• For its current centralized application, Opiria has a network of 4,000+ users, indicating a successful proof of concept and an existing userbase that would have strong incentives to migrate to the decentralized platform.

Funding Score: 3.2 / 5.0
• Based on our assessment of the current funding market, we believe a $7 million raise to be a conservative goal for Opiria. This is based on a recent raise by a close comparable, Datum, which raised $7 million.
• Additionally, we are accounting for the recent weakness in Bitcoin and Ethereum pricing, which will affect the entire fundraising market. At $7 million in funding, we calculate Opiria’s years runway to be 1.4 years.
• In the current private sale, Opiria has raised $2.0 million.

Platform Score: 3.5 / 5.0

opiria strategic coin

Download the full report here.

Ex-Goldman VP joins rocker to drag cryptocurrencies into mainstream (Financial News), Rated: A

The New York-based trio are behind a new cryptocurrency exchange called The Ocean X, and on the face of it seem like a typical band of outsiders looking to disrupt finance’s fat cats. What is arguably more of a surprise is that according to Piotrowski, who left Goldman in February to jump into crypto full-time, their ultimate aim is to drag the sector into the mainstream.

Among just a few recent examples, Alex Grebnev, formerly of Goldman Sachs and Bank of America Merrill Lynch, is setting up a crypto platform called Oxygen, while Mike Novogratz, another ex-Goldmanite, is launching a crypto merchant bank called Galaxy Digital and has been hiring from his former employer to get it off the ground. Travis Kling, who worked at Point72 Asset Management until December, has just unveiled a long/short crypto fund called Ikigai Asset Management.

Simply setting up an ICO website? Prepare to respond to US authorities’ questions! (Finance Feeds), Rated: A

The latest developments around PlexCorps, also known as PlexCoin, a virtual currency firm accused of running a $15 million ICO fraud in the United States, show that the US authorities are ready to approach any individual involved with such entities as the regulators continue to investigate scams related to cryptocurrencies.

On Monday, April 16, 2018, Judge Magistrate Judge Robert M. Levy sided with the Securities and Exchange Commission (SEC) by signing an order that asks the Quebec Superior Court for judicial assistance to compel the attendance of a witness at an oral deposition and the production of documents.

According to the SEC, Ouellet has assisted the firm in:

  • setting up and/or running PlexCorps’ and PlexCoin’s websites;
  • keeping track of the individuals who accessed the websites, including the identity of regulators and law enforcement agencies; and
  • opening accounts with and making a phone call to a payment processing vendor in the United States

Mastercard Patents Blockchain Tech To Combat Fake Identities (CoinTelegraph), Rated: A

Mastercard has filed a patent for a Blockchain system to store and verify identity data, in an application published by the U.S Patent and Trademark Office (USPTO) April 12.

BLOCKCHAIN EXPERTS IN DEMAND AT MASTERCARD (Bitcoinist), Rated: B

Mastercard has their hiring eye on blockchain specialists. The massive corporation seeks to further incorporate the technology into their company and needs skilled help to do it.

Blockchain-based identity for the homeless (GCN), Rated: A

Austin, Texas, is exploring how blockchain could be used to give the city’s homeless a digital identity they can use to secure personal records and access government resources.

Officials want to create a centralized database to keep track of identity and vital records for more than 7,000 homeless people in the city, replacing paper records with electronic encrypted versions. Blockchain would provide a decentralized authentication mechanism service providers could to tap into to access a person’s benefits or medical history, according to TechCrunch.

Bank Of America Is Getting Patent On Blockchain-Based Storage System” (cryptona), Rated: B

The application of the Bank of America for a patent right on a Blockchain-based data storage system has been publishedby the U.S. Patent and Trademark Office yesterday 12th April.

With Wyoming giving chase, blockchain moves forward in Delaware, in part (Delaware Online), Rated: B

Delaware officials in the coming months will introduce two blockchain-based pilot projects into a sliver of their lucrative corporate franchise business.

Marsh Develops Commercial Blockchain Solution for Proof of Insurance (Insurance Journal), Rated: B

Marsh announced it is collaborating with IBM, ACORD and its client, ISN, to develop a commercial blockchain solution for proof of insurance.

International

NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 17, 2018 (NewsBTC), Rated: AAA

Despite moving up one spot, IOTA and the general altcoins market is sluggish.

XLM/USD (Stellar Lumens)

Even though Stellar Lumens is generally up, the coin is giving back some of its earlier gains. In the last 24 hours alone, the coin is down 3.75 percentand technically, we expect further declines.

Stellar Lumens
Source: Trading View and NewsBTC

IOT/USD (IOTA)

After breaching the $1.5 mark, IOTA is up one spot up the liquidity table with a market cap of $1.58B despite losing 5 percent in the last 24 hours.

LTC/USD (Litecoin)

Litecoin
Source: Trading View and NewsBTC

NEO/USD (NEO)

From yesterday’s NEO technical analysis, we were anticipating sellers to increase their position and drive prices back to $60 or there about. That seems to be happening.

NEO USD
Source: Trading View and NewsBTC

Cryptocurrency and ICOs are moving into the real estate market (Techaeris), Rated: AAA

According to a survey, 71% of Americans wish real estate investment was easier and 48% of Americans would be more likely to invest in the real estate market if the technology was available to make it easier.

blockchain and real estate

Blockchain to disrupt Swiss hold on global bank system, Moody’s says (CNBC), Rated: A

The blockchain technology underlying bitcoin could hurt Swiss banks the most, according to Moody’s Investors Service.

From the doctor to the DMV, blockchain can make governments swift and secure (Digital Trends), Rated: A

Estonia is leading the way, but not as much as some think

As Plantera described it to us, KSI is its own variant of blockchain. It grows on a linear scale related to time, rather than the number of transactions.

The X-Road is a system of connected government databases. It facilitates the confirmation of data points, without moving the data itself around.

Trusting three letter agencies – even the DMV

GuardTime is constantly iterating and expanding its services. It recently signed a partnership with Verizon to deliver similar protective technologies to large enterprises and government agencies, and the mobile carrier plans to announce its own set of KSI-backed security products later this year.

Fluence, a startup developing blockchain database technology, sees great potential for improving trust between government departments.

HashCoins, most commonly known as the operator of cloud mining company HashFlare, was recently asked to conceptualize a system for the Belarus government to handle a protected, distributed database of car components and service histories.

Governments protecting against governments

The main purpose of blockchain in governance, at least in its current guise, is data integrity. That’s what it’s used for in most cryptocurrencies, too. It creates trust in the currency’s validity because no one entity can change it without everyone knowing.

Coinbase Exchange Buy Ethereum’s Mobile App (Stocks Gazette), Rated: A

The value of POE will probably not skyrocket in quick jumps, but it will over time become a profitable coin. At the moment, the token trades at $0.045, a low enough entry point for beginner investors. The crypto has gained 73.57% over the last 7 days. In the last 24 hours, POE/USD traded at +30%, a big jump indeed.

BNB is today trading at $13.13, a slight price increase against the US dollar. Over the last 7 days, the token has appreciated by more than 5% against the USD. In terms of daily trading volume, a total of $140,481,000 had been traded early Saturday.  The figure represents about 50% increase over the last two days.

BotBird – Your cryptocurrency investment partner for modern trading! (AMBCrypto), Rated: A

BotBird is an inventor bringing together various aspects of blockchain to a single platform exclusively to meet the everyday needs of all traders. The BotBird team functions all over the world in different countries such as Japan, Germany, Sri Lanka, Italy, Russia and many more.

BotBird provides three main services for its users namely, Escrow Lending, P2P Exchange, and P2P Loans.

Website Threatens To Make Email Password Public, Demands Bitcoin as Ransom (BTCManager), Rated: A

In another attempt to leak confidential personal data, an anonymous developer has built a malicious copy of the famous breached passwords database “Have I been pwned.”

Although it is still unclear as to the quantity of compromised data the website has, estimates suggest around 1.4 billion accounts and associated passwords have been breached. Journalist Daniël Verlaan said the site uses the same database as the popular breach lookup service Gotcha.

Blockchain Platform Hopes To Stop Electricity Bills Surging Through Energy Marketplace (CoinTelegraph), Rated: A

A new Blockchain platform is aiming to stamp out energy waste and misuse by designing a “simple, sustainable and scalable system” which eliminates imbalances between supply and demand.

Bittwatt argues that the industry needs to adapt if soaring demands for energy – spearheaded by developing countries – are going to be met safely.

Q1 2018 ends: 3 crypto trends likely to continue (VentureBeat), Rated: A

The start of 2018 hasn’t been the most exciting time for crypto space. The overall market value has dropped from above $800 billion to somewhere around $300 billion at the moment.

  1. Global policy-makers will take a cautious approach
  2. We’ll see a drop in scam ICOs
  3. Crypto-promoters will experiment with new strategies

How to Successfully Market an ICO in 2018 (NewsBTC), Rated: A

In the first two months of 2018, there were nearly 50 ICOs (initial Coin Offerings) raising over $1.1 billion by the end of February. Compare that figure to the $5.6 billion raised via Initial Coin Offering in 2017 and you get a good picture of just how important and popular ICOs will be in 2018.

Your website should:

  • Include a well-written white paper clearly conveying your ICO project’s message.
  • Be designed so it is easy to navigate with all the necessary information presented in a clear and concise manner.
  • Contain a short professionally-made explainer video.
  • Include a clear call-to-action (CTA) which attracts potential investors.
  • Contain a transparent lead capture. Be SEO optimized.
  • Include an introduction to the team. Letting people get to know exactly who is behind the project builds that trust.
  • Feature a roadmap, vision and schedule of events

Ethercoin Official: “We Won’t Have KYC Requirements” For Our ICO (Finance Magnates), Rated: A

One of these projects is Ethercoin, a blockchain network that plans to eventually power a series of coworking spaces in cities across the globe.

Bitcoin Private Now Ranks Among Top 40 Cryptocurrencies By Market Cap (Zycrypto), Rated: B

Bitcoin Private, one of the many forks of the Bitcoin core cryptocurrency, now ranks among the top 40 cryptocurrencies by market capitalization on the 12th of April, 2018. The new cryptocurrency ranks 31st on CoinMarketCap and saw a growth of over 100% percent in 24hrs and now trades at $31.04.

The Universa Mainnet is now live (Chipin), Rated: B

The Universa Mainnet was launched on the 12th of April, capping off several successful weeks of rapid progress for Universa.

Cortex adds AI algorithms to smart contracts (Next Big Future), Rated: B

Cortex’s main mission is to provide the state-of-the-art machine-learning models on the blockchain in which users can infer using smart contracts on the Cortex blockchain.

BitRewards ICO Announces Parternships With GoPro, EventBrite and Thomson Holidays (ICO Examiner), Rated: B

Still in their initial coin offering stage, blockchain-based rewards and loyalty provider Bitrewards has announced it is partnering with TUI, Eventbrite and GoPro.

European Union

Monaco: A Crypto Debit Card With Automated Investing (SludgeFeed), Rated: AAA

One project actively developing a platform for crypto debit cards is Monaco, which offers a variety of card options, coupled with a mobile wallet, credit system and an automatic trading platform. Monaco is a Visa program manager, as such, they can issue their own Visa-branded cards and leverage the Visa transaction network. What’s more, Monaco offers a token-based card-tier system, as well as token cash-back rewards that work to mimic more traditional credit cards.

Monaco cards come in 4 different tiers, depending on the amount of MCO tokens a cardholder owns:

  • Midnight Blue: Free card with $2000 interbank exchange rates limit and $200 free ATM withdrawal limit. No cashback rewards.
  • Ruby Steel: Requires 6-month hold of 50 MCO tokens. $4000 interbank exchange rates limit and $400 free ATM withdrawal limit. 1% cashback on all purchases.
  • Precious Metal: Requires 6-month hold of 500 MCO tokens. $10,000 interbank exchange rates limit and $800 free ATM withdrawal limit. 15% cashback on all purchases and LoungeKey™ Airport Lounge Access.
  • Obsidian Black: Requires 6-month hold of 50,000 MCO tokens. Unlimited interbank exchange rates limit and $1000 free ATM withdrawal limit. 15% cashback on all purchases and LoungeKey™ Airport Lounge Access + 1 guest. Supply limited to 999 cards.
Monaco
Source: Monaco Reddit

Exploring Vitalik’s Proposal for Limiting the Maximum Supply of Ethereum (Coinsquare), Rated: AAA

April Fools’ Day wasn’t purely a day of comedy for the digital currency industry in 2018, as Ethereum’s co-founder, Vitalik Buterin, used the opportunity to introduce a proposal for implementing an Ethereum maximum supply.

Buterin’s proposal explores the possibility of capping Etheruem at “exactly 2x the amount of ETH sold in the original ether sale.”

Ethereum’s usage as a platform, and the current lack of a hard cap

While arguments in favour of a fixed supply cite Ethereum’s potential to become a store of value that surpasses or rivals Bitcoin, those in opposition of the change believe that Ethereum’s current inflation model is best for the platform. This argument was also voiced in Ethereum’s white paper.

While arguments in favour of a fixed supply cite Ethereum’s potential to become a store of value that surpasses or rivals Bitcoin, those in opposition of the change believe that Ethereum’s current inflation model is best for the platform. This argument was also voiced in Ethereum’s white paper.

Germany’s second largest stock exchange to launch a crypto trading app for Bitcoin, Ethereum, Ripple and Litecoin (AMBCrypto), Rated: A

Börse Stuttgart, the second largest stock exchange in Germany is set to launch a cryptocurrency app called Bison.

The app was revealed on Friday by Sowa Labs, the creator of the app and a subsidiary of Börse Stuttgart. It will be available for use in September with initially support trading of Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], and Ripple [XRP]. However, the official website states that there will be more assets added after the launch. After the launch, the app with be available in German, and later in English.

A junior banker in Italy hijacked servers from his company to mine bitcoin (Business Insider), Rated: A

Thousands of staff are stealing computing power from their employers in order to mine bitcoin, according to a top cybersecurity CEO.

Eagan said her company had come across one instance where a junior banker at an unnamed Italian bank had actually stolen servers that he had signed for on behalf of his company.

“He had taken 12 of these and hidden them under the floorboards in the data centre of the bank and then set up his own crypto mining range,” Eagan said. “This went undetected for some period of time. Luckily we actually detected it because there were these unusual connections going outside the bank to these crypto mining places.”

TOKENDESK BETA IS OUT: ICO REFUNDS ARE NOW POSSIBLE! (Bitcoinist), Rated: B

TokenDesk – a new revolutionary ICO marketplace announced the launch of their innovative platform. The key elements were the option to directly purchase and hold the tokens in internally developed blockchain wallet. Today is the day when these, and many more, improvements are implemented and a Beta version is ready for launch.

United Kingdom

BANK OF ENGLAND GOVERNOR ADMITS ‘CRYPTOCURRENCY NOT A RISK’ (Bitcoinist), Rated: B

In line with his previous sentiment expressed at the G20 Summit in Argentina earlier this year, rock-star banker Carney holds that, at current times, “cryptocurrencies aren’t a risk to the financial state.” The merits of his statement lie within the fact that cryptocurrencies “are still small and not connected to the financial system.”

China

Cardano Climbs Higher as Binance Expands ADA Listings (NewsBTC), Rated: AAA

Cardano is already listed on Binance but tradable only in BTC or ETH. Today the Hong Kong based exchange announced that it would be offering ADA/BNB and ADA/USDT trading pairs.

WEGOGO LAUNCHES WEGOLD ICO TO BUILD DECENTRALISED TRAVEL PLATFORM (Web in Travel), Rated: A

WEGOGO – a business platform on WeChat that enables global tours and activities operators and travel hosts to connect with Chinese consumers –announced its aspirations to be the world’s “first travel blockchain for aspirational travel in Asia”.

To do this, WEGOGO has expressed its intentions to raise US$88M through an ICO, selling 3.4 billion WeGold tokens at a value of 0.00006866 ETH each (approx. US$0.037 per token).

The Coin “Bytom” Has Reached A Turnover Of 1 Billion $ Market Cap (cryptona), Rated: B

About 24 digital currencies have already hit the 1 billion dollar market cap when it comes to total valuations. The latest digital currency moving towards that direction is Bytom which was started in China. Bytom will be the 25 digital currency to hit the 1 billion dollar mark if its rally continues.

Hong Kong Insurers Exploring Blockchain Platform For Motor Vehicle Insurance (ETHNews), Rated: B

James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, addressed the annual reception of the Hong Kong Federation of Insurers (HKFI) on April 12, where he outlined a number of innovations that Hong Kong’s independent Insurance Authority (IA) and HKFI are working on.

Australia

Australia implements AML/CTF laws for cryptocurrency providers (Open Gov Asia), Rated: AAA

The Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s financial intelligence agency and anti-money laundering and counter-terrorism financing (AML/CTF) regulator, implemented new laws for digital currency exchange (DCE) providers operating in the country. This refers to any business which provides exchange services to convert fiat currency (for example, in Australian or US dollars) into digital currency and vice versa.

The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 requires regulated entities to collect information to establish a customer’s identity, monitor transactional activity, and report to AUSTRAC transactions or activity that is suspicious or involves large amounts of cash over $10,000.

Ormeus Coin Announces Major Airdrop Ahead Of Global Launch In Bangkok (CoinTelegraph), Rated: B

Ormeus Coin, the asset-backed decentralized virtual currency, has announced details of an unprecedented airdrop as a prelude to its global launch in Bangkok, Thailand on Tuesday 17th April 2018.

APAC

U.S.-based cryptocurrency exchange Kraken quits Japan: Bloomberg (Reuters), Rated: AAA

U.S.-based cryptocurrency exchange Kraken will stop its trading services in Japan, citing rising costs of doing business there, Bloomberg reported on Tuesday.

The exchange plans to exit Japan by the end of June but it may come back in the future, Bloomberg said, citing an emailed statement.

BOJ Has No Plan to Issue Digital Currency: Deputy Governor Amamiya (Money), Rated: A

The Bank of Japan has no plan to issue its own digital currency now, but sees the need to understand innovative technologies for future possible use in financial infrastructure, Deputy Governor Masayoshi Amamiya said on Monday.

Asian Cryptocurrency Trading Roundup: Top Altcoin is Iota (NewsBTC), Rated: A

Coinmarketcap is reporting a 12% gain for Iota during the morning’s Asian trading session. Most of the other altcoins have remained at the same level for the past 24 hours but Iota continues to make gains. It is currently trading at $1.50, up from $1.36 this time yesterday. Volume has decrease though indicating that the bullish pressure may be slowing down. Over the week Iota has made around 50% from $1 this time last weekend. The monthly picture also shows solid gains of around 45% for this altcoin. Against Bitcoin Iota has increased by almost 10% to 18600 satoshis from 16900 sats this time yesterday. Over the month its gains against BTC have been even stronger at 20% from 13800 satoshis this time last month.

iota

VeChain introduces AssetLink, a joint supply chain management application (AMBCrypto), Rated: A

On Friday, VeChain introduced Assetlink, a Joint Supply Chain Management Application of Xiamen Innov, Corelink, and VeChain.

The combined efforts of Xiamen Innov, Corelink, and VeChain lead to the development of an enterprise-level decentralized application [dApp] named AssetLink manager that will run on a P2P network of computers rather than a single computer. They have developed the first version of the app.

Major Korean Exchange Launches in Indonesia with Six Cryptocurrencies (Bitcoin.com), Rated: A

One of South Korea’s top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants.

Hanoi Prohibits Use of Cryptocurrencies in E-commerce Transactions (Bitcoin.com), Rated: B

Citing provisions of the government’s Decree No. 101/2012 / ND-CP on non-cash payment instruments, the document reiterates, “bitcoin and other similar virtual currencies are not legal means of payment in Vietnam; The issuance, supply, use of bitcoin and similar virtual currency is prohibited in Vietnam.”

Bancassurers leverage blockchain to further penetrate insurance in APAC (Global Data), Rated: B

Ruby Ghunia, Lead Analyst of Digital Insurance at GlobalData, says: “Blockchain appears to be the answer to past failures by providing fraction-free operations, transparency and security not only between the bank and customers but also with their insurance partners.”

CCB, for instance, has tapped IBM Blockchain to achieve the above-mentioned benefits, leveraging Linux Hyper ledger fabric, which is designed to support the interaction of a range of multi-heterogamous components and systems among banks, insurers and other parties.

MENA

Freedium Announces First Commodities Backed Digital Stable Currency at Dubai Blockchain Forum (Business Insider), Rated: AAA

Freedium, a company establishing a presence at the Dubai Multi Commodities Centre (DMCC), today announced at the Dubai Blockchain Forum, the launch of the first commodities backed digital stable currency tracking the U.S. Dollar. Based on the blockchain technology, Freedium will provide financing to commodity owners in emerging markets, particularly in Africa and also in Latin AmericaAsia and the Middle East. With plans to be operational by Q3 2018, the firm is expecting to issue its first Freedium coin in Q4 2018.

“Emerging and developing countries have a population of 6 billion people, represent 60% of global GDP and generated 80% of global GDP growth since 2008,” said Keba Keinde, Founder and Chairman of Freedium.

Africa

Central Bank Of Kenya Warns Banks Against Crypto Investment (cryptona), Rated: AAA

On Friday 13th April, Standard Digital, a local news source, reported that the Central Bank of Kenya (CBK) has recently released an information in which it warned all banks and financial institutions within the country to desist from dealing with digital currencies or engaging in any crypto related transactions with anybody.

Latin America

Venezuelan Cryptocurrency Petro Receives the Satoshi Nakamoto Prize in Russia (CCN), Rated: AAA

Despite all the doubts and controversies surrounding the project, El Petro, the Venezuelan cryptocurrency, has recently received the Satoshi Nakamoto Prize from the Russian Cryptocurrency and Blockchain Association (RACIB) for its ‘outstanding contribution to the development of the blockchain industry’, according to the official community.

Chilean Court Agrees To Hear Cryptocurrency Exchanges’ Case (ETHNews), Rated: A

An appeals court in Chile has agreed to hear a case brought by three cryptocurrency exchanges, BUDA, Orionx, and Crypto MKT, after the banks servicing the platforms moved to close their accounts.

Bermuda

Bermuda Reveals Draft Crypto Regulations, Plans to Embrace ICOs (Bitcoin.com), Rated: AAA

The minister of national security, Wayne Caines, described the proposed regulations a “landmark legislation for Bermuda,” adding that “The emergence of new financial products and services created through the use of technology has opened new and exciting opportunities for entrepreneurs and businesses.”

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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