Daily News Digest Featured News

Monday May 21 2018, Daily News Digest

blockchain technology
Source: PwC

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United States

International

European Union

China

Southeast Asia

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News Summary

United States

Coinbase Spoke to U.S. Regulators About Acquiring Federal Banking License (CoinTelegraph), Rated: AAA

Major U.S. cryptocurrency exchange and wallet Coinbase spoke to regulators about obtaining a federal banking charter, according to a report by the Wall Street Journal (WSJ) May 18.

How Coinbase make money? (Vator.tv), Rated: A

It is estimated that somewhere between 13 million and 28.5 million people currently own Bitcoin, which means they need a place to buy, sell, and manage their digital currency. That is where Coinbase comes in.

When buying digital currency, fees are added to the amount entered to arrive at the total for the order. For example, if a users enters $100 USD as the amount to buy, and the fee is 1.49 percent, their total would be $101.49. That total would be charged to their payment method and they receive their $100 worth of Bitcoin.

When selling digital currency, Coinbase fees are subtracted from the amount entered to arrive at the total. For example, if a user enters $100 USD as the amount of Bitcoin to sell, and the fee is 1.49 percent, their total would be $98.51. Their $100 worth of Bitcoin would be removed from their Coinbase account and $98.51 would be credited to the selected payment method.

Will Coinbase’s Toshi app listing Litecoin [LTC] rejuvenate its prices? (CryptoRecorder), Rated: A

The Toshi app is developed as an amalgamation of various features and the key ones during the initial preview included, a private and secure, messaging app, a user-controlled Ethereum wallet and a browser for Ethereum apps. Being a piece of software that runs on a mobile phone and allows open financial network access, is architectured to be a similar web browser. Funds are always under the user’s control only as Toshi does not host any of the other apps that the user accesses.

Bitcoin Hits One-Month Low As $ 10K Sell-Off Resumes (CoinDesk), Rated: AAA

The cryptocurrency fell to $7,925 on Bitfinex earlier today – the lowest level since April 18 and has retraced 50 percent of the rally from the April 1 low of $6,425 to May 5 high of $9,990.

As of writing, BTC is changing hands at $8,120, representing a 2 percent drop in the last 24 hours. The recovery from the low of $7,925 could be associated with the oversold conditions shown by the relative strength index (RSI) in the hourly chart.

BTC daily chart
Source: CoinDesk

Bitcoin’s Massive Power Usage Explained in New Analysis (ExtremeTech), Rated: A

Bitcoin might not be worth as much as it was at the beginning of the year, but miners are still operating at a phenomenal rate. A new calculation from Bitcoin analyst Alex de Vries says those mining operations are using a stupendous amount of energy. At current levels, de Vries estimates Bitcoin mining uses at least 2.6GW of power per year, and that number could grow to as much as 7.7GW by the end of the year, an astounding half a percent of the entire world’s electricity consumption.

To get these numbers, de Vries started with the knowledge that a new block is completed about every ten minutes, and that awards 12.5 Bitcoins. That’s around $15 million in mining revenues per day at current values.

Cryptocurrency Wealth Dropped $ 52 Billion During Blockchain Week. Not Even a Snoop Dogg Performance Could Save It (Fortune), Rated: AAA

Alas, not even a trio of (rented) Lamborghinis, a 1,000-person yacht party and a performance by 46-year-old rapper Snoop Dogg could prevent the value of virtual currencies tracked by Coinmarketcap.com from sinking by $52 billion since May 11. Bitcoin, the most popular of the bunch, dropped 5.2% this week to $8,003.60 even as Arthur Hayes — the crypto exchange executive who’s firm rented the Lamborghinis — predicted a surge to $50,000 by year-end.

Litecoin Founder Turns Scammer As Crypto Community Left Feeling Fed Up (Crypto Coin Spy), Rated: A

In this tweet, Lee (who goes by the Twitter handle @SatoshiLite) shared with his followers that “for a limited time only,” he’d be giving away 100 LTC (i.e., the cryptocurrency underpinning the Litecoin blockchain).

Adding an extra amount of pressure upon those vulnerable to being swindled, the Litecoin creator advised his followers to “hurry up before I run out of coins!”

For those interested, Lee provided an external link in his tweet, which presumably would outline the steps required to send him the 0.01 LTC he demanded upfront, so as to know where to send back 1 LTC in exchange.
Litecoin

ICO Scams Have Raised More Than $ 1 Billion, Report Claims (CCN), Rated: A

Despite the widespread appeal to conduct extensive research before participating in an ICO, naive investors have drained north of $1 billion into these 271 projects, with some of them still raising funds.

So far, only a total of $273 million has been claimed in the form of lawsuits, which goes to show that investors are still ignorant about the true nature of these projects.

Fixing the News: Blockchain-Powered Solutions for Media in Crisis (CoinTelegraph), Rated: AAA

Against the backdrop of steadily declining trust in the mainstream press, systemic issues like the ever-intensifying political polarization of the media, proliferation of fake news, and asymmetric power relations between platforms and publishers, among others, stand in the way of the press striving to fulfill its crucial societal functions.

Most of the contemporary media criticisms converge around one point: the digital news economy. The ad-based online business model often proves to be inadequate for sustaining certain forms of journalism that rely on specific and narrow audiences for financial backing. These forms happen to be the ones of social importance, like local news or investigative and issue reporting.

A handful of blockchain-driven media startups that aspire to revolutionize the news economy are different in this important sense. They hope to not just draw in people longing for good journalism, but also provide them with economic incentives to contribute their efforts to sustaining the ecosystem for substantive news.

Civil

A self-described decentralized marketplace for sustainable journalism, Civil is designed to solve the problem of “broken news” by addressing the deficiencies of ad-driven media economy.

Civil
Source: CoinTelegraph

Decentralized News Network (DNN)

DNN’s stated mission is to provide an infrastructure for factual political news that will be impossible to manipulate, infiltrate, or take down. The project creators’ ambition is for it to become a democratic alternative to mainstream media, which they regard as plagued with clickbait, distorting influences of corporate agendas, fake news, and “filter bubbles.”

There are four community roles in the DNN ecosystem: writers, reviewers, readers, and publishers. As there are no formally organized newsrooms, everyone will be able to take a shot at becoming a writer and publishing news.

But before a story is recorded to the blockchain for everyone to see, a panel of seven reviewers will vote on whether it is in line with the community content guidelines.

Decentralized News Network
Source: CoinTelegraph

Media Sifter

Media Sifter aspires to offer an environment for news consumption where attention economy is replaced with what its creators call “evidence economy.”  Unlike Civil and DNN, Media Sifter’s main focus is not on production of the original news but rather on community validation and investigation of the outside content. The model comprises two major elements: news aggregator and a blockchain-based incentive system, built on a SIFT protocol, which enables collaborative validation and fact-checking.

Media Sifter
Source: CoinTelegraph

PUBLIQ

Despite many similarities to ‘ecosystemic’ platforms such as Civil and DNN, PUBLIQ has a number of distinctive features. The three pillars of its architecture are the content sharing layer, the transaction layer, and a reputation system. The latter serves as the key incentivizing mechanism for content producers. PUBLIQ will operate on its own blockchain with a modified Proof-of-Stake (PoS) consensus algorithm. Miners, who will obtain their node status by securing special ‘mining tokens,’ will seal a new block every 30 seconds or 2000 operations.

Publiq
Source: CoinTelegraph

Hacked Cryptocurrency Exchange Coincheck Plots US Expansion (CCN), Rated: A

Disgraced cryptocurrency exchange Coincheck has come under new management, and its new owners are planning to bring the trading platform to the US market.

Bloomberg reports that Monex, the Japanese brokerage firm that acquired Coincheck in April, believes a US expansion could fast-track the exchange’s quest to once again become a major player in the industry.

Nano releases its Universal Block Canary – Faces technical glitch on Binance (AMBCrypto), Rated: A

Earlier today, the Creator of Nano, Colin LeMahieu announced the release of Nano Universal Block Canary on his Twitter platform. But ever since the announcement, according to some Reddit users, Nano has been facing some technical glitch on Binance, the biggest cryptocurrency exchange platform in the world.

Ever since the announcement of the release, some users have been facing transactional issues on Binance. Customers haven’t received their NANO on Binance and the deposits are stuck in the platform.

9 star lawyers helping blockchain companies navigate the tricky waters of cryptocurrency regulation (Business Insider), Rated: A

Now, as companies big and small compete for a piece of the cryptocurrency pie, much of the ground work is being done by an invisible force in the C-suite: the general counsel — which is to say, cryptocurrency companies’ in-house lawyers.

  1. Brynly Llyr — Corporate Counsel at Ripple
  2. Mike Lempres — Chief Legal and Risk Officer at Coinbase
  3. Marco Santori — President and Chief Legal Officer at Blockchain
  4. Sivan Whiteley — General Counsel at Square
  5. John Beccia — Former General Counsel and Chief Compliance Officer at Circle
  6. Lindsay Lin — Counsel at Stellar and Lightyear
  7. Adele Faure — Assistant General Counsel at Robinhood
  8. Ben Sherwin — Corporate Counsel at Uphold
  9. Lee Schneider — General Counsel at BlockOne

TOM LEE EXPLAINS WHY CONSENSUS FAILED TO SPARK THE BITCOIN RALLY (Bitcoinist), Rated: A

Tom Lee of Fundstrat Global is standing by his $25K end-of-year Bitcoin price despite the failure of Consensus to cause the much-anticipated crypto price rally. In an interview with CNBC, the analyst offered explanations for why the conference didn’t spark an increase in crypto prices.

Consensus came and went without any price increase. In fact, the opposite happened. Prices dropped, and the total crypto market cap tanked by $40 billion during the conference in New York City. The Bitcoin price declined by 3 percent by the end of the conference.

Consensus Bitcoin
Source: Bitcoinist

Lee began by admitting that perhaps he and other experts were overly optimistic due to the expected large turnout at Consensus. He also said that after months of uncertainty, the gathering of many crypto enthusiasts was seen as a precursor to the reinvigoration of confidence in the market.

A crypto miner trolls Warren Buffett with bitcoin billboards outside his office (BRKB) (Markets Insider), Rated: A

cryptocurrency-mining company says it’s trolling the billionaire investor Warren Buffett with billboards near his Omaha office.

Marco Krohn, the cofounder of Genesis Mining, on Wednesday tweeted photos of the signs, which refer to Buffett’s recent admission that he was wrong about not investing in the mega-cap tech giants Amazon and Google in their early days.

The Upcoming Bitcoin Hard Fork Will Be Called BitcoinZap (The Merkle), Rated: A

In the world of Bitcoin, there have been numerous hard forks over the past few months. Not all of those forks have been successful, which is only to be expected. It now seems there will be another fork that users should be aware of, which goes by the name of BitcoinZap. Not too much information has been unveiled at this time, but it is evident that this is another attempt at bringing two currencies together in a meaningful way.

Trust Token Blames Bots for Volatility of Trueusd Stablecoin (Bitcoin.com), Rated: A

On Wednesday Trueusd, a stablecoin designed to be pegged to the US dollar, experienced a sudden bump in price after Binance announced support. The news caused Trueusd (TUSD) to rise by an unprecedented 40% before eventually subsiding.  

As a piece of parting advice, Trust Token advises traders not to pay any more than $1.05 per token, otherwise “you may lose money.”

Rafael Cosman added: “It’s fairly common knowledge in the crypto industry that there are bots that “listen” for announcements of coins listing on exchanges and buy any coin as soon as it is listed on a new exchange.

VC Firm Behind Snapchat Looks to Ramp up its Crypto Investments, Report Says (CoinTelegraph), Rated: A

The venture capital firm behind Snapchat is looking at ways to increase their investments in the crypto industry, tech journal Recode reported May 17.

Aaron Batalion, a partner at venture capital firm Lightspeed, is leading an effort to boost the firm’s investment by exploring three methods: setting up a new fund, carving out a portion of an existing fund, or launching an entirely new project, Recode reports, citing “sources”.

Rising Price Levels Sees Litecoin (LTC) Close a Perfect Week (Stocks Gazette), Rated: A

The tables are finally turning, and cryptocurrencies are surging towards the green. At 07:05 UTC, 68.1% of the 1774 trading cryptocurrencies are gainers. Litecoin traded at low support levels of below $130, however, the candlesticks are reversing following yesterday’s losses.

Opening today, Litecoin is in the green and the value of the digital coin is up by 2.15% and is now trading at $135.2 USD. Litecoin holds an estimated market cap of $7.65 billion USD and retains its position as the 6th largest cryptocurrency.

Banks will trade cryptocurrency sooner than people think, says fmr. JPMorgan blockchain executive (CNBC), Rated: A

Former head of J.P. Morgan’s blockchain arm is no longer on Wall Street. But the former insider says major banks like her former employer could get into the cryptocurrency business imminently.

“I think it’s coming sooner than people probably think,” Amber Baldet, Former head of J.P. Morgan’s blockchain arm told CNBC’s “Power Lunch” Friday. “But even where the will is, the legal and regulatory framework is challenging.”

John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform (CCN), Rated: A

Bitcoin bull John McAfee was accused of promoting a sham initial coin offering by a group called Pink Taxi, which allegedly stole intellectual property from a blockchain-based taxi platform called A2B Taxi Token.

The controversy erupted on May 17, after McAfee promoted an ICO for Pink Tax Group Ltd. U.K. on Twitter.

Less than 40 minutes after McAfee sent his tweet, A2B Taxi Token launched an epic salvo, claiming Pink Taxi had copied its “website design, content and its whitepaper” to promote its initial coin offering.

US Congress releases bullish report on blockchain (AMBCrypto), Rated: A

The Joint Economic Committee Congress of the United States has released its annual report on the economy and the market. Chapter 9, titled “Building a secure future, one blockchain at a time” looks into blockchain as a “potential tool for securing America’s digital infrastructure.”

After explaining blockchain and cryptocurrencies, they spoke about the limitations of Bitcoin for use as a currency, citing low transaction fees and high costs as limitations for everyday use. They also brought up the volatility of the price, saying:

“For example, the price of pizza could move from a fraction of a bitcoin to thousands of them in a short time.”

This Firm Just Turned a Company’s Stock Into Cryptocurrency (Fortune), Rated: A

As regulators crack down on initial coin offerings, venture firm Morgan Creek Blockchain Capital is going forward with its own offering.

The asset manager announced that it had turned the paper shares of Raleigh, N.C.-based cloud storage firm Anexio security tokens. Anexio is hoping to raise $40 million by offering those Ethereum-based tokens, representing equity, to accredited investors.

Grammy-winning Fugees founder bringing blockchain to your smartphone (CNBC), Rated: A

Grammy-award winning rapper and founding member of the Fugees Pras Michel is launching a blockchain-enabled smartphone that lets users earn dividends on every purchase.

The phone is part of Michel’s digital platform Blacture, which was announced in a 2018 Super Bowl ad, and celebrates black culture through content and technology. The first retail move for Blacture is the launch of Motif, a $300 smartphone that hits stores this fall.

Canadian citizen, Louis Ong, jailed in US for exchanging bitcoin (Crypto Insider), Rated: A

In December 2016, Canadian citizen, Louis Ong, was targeted by US department of Homeland Security federal agents for posting an advertisement online to anonymously exchange bitcoin for US dollars. Just last week he was tried in a Seattle court and convicted on one count of operating as an unlicensed money transmitter. Ong was sentenced to 20 days in US prison, three years of supervised release, and will likely be unable to return to the US after serving his sentence there. In addition, he voluntarily forfeited $1.1 million in cash and bitcoin to the US department of Homeland Security.

The Use Cases and Applications for Involving Women in Blockchain (CoinDesk), Rated: A

“Satoshi is female!”

That’s how New York Congresswoman Carolyn Maloney rallied the crowd on May 13 at the “Women on the Block” event in Brooklyn, New York, where more than 300 people came together to talk about cryptocurrency and blockchain technology. The event comes at time of tension within the crypto community, as blockchain stars like Lightning Labs CEO Elizabeth Stark are urging interviewers to stop asking what it’s like to be a woman in crypto.

You need cryptocurrency to buy this ordinary suburban house (New York Post), Rated: B

This new-to-market five-bedroom home in affluent Westport, Conn. — a newly constructed property that measures a roomy 4,800 square feet — is listed for purchase in cryptocurrencies bitcoin and Ethereum.

The house at 5 Ridgewood Lane is asking 250 bitcoin, or 3,030 Ethereum, which as of May 17 convert to about $2 million.

The Price of Bitcoin, Litecoin, Ripple and More Cryptocurrencies 4 Years Ago (The Daily HODL), Rated: B

crypto prices
Source: The Daily HODL

Wallet To Accept Collectibles Such As Crypto Kitties And Fighters As Functionality Expands (CoinTelegraph), Rated: B

Lumi says its service will allow users to swipe through their collection at ease – and it is currently invited interested crypto holders to sign up via email.

International

OpenBazaar opens peer-to-peer trading for 44 cryptocurrencies (CoinGeek), Rated: AAA

This week, development team OB1 rolled out OpenBazaar version 2.2.0, which offers a slew of new features and improvements—the biggest of which was the ability to buy and sell cryptocurrencies on the platform.

Since OpenBazaar is a peer-to-peer platform, the new trading feature does not operate like an exchange, so users are warned not to expect to find an order book for choosing a target price for buying or selling. According to the development team, the feature “only allows people to trade directly with each other at market prices.”

“[Vendors] can choose from 44 different cryptocurrencies right now and more will be added over time,” according to OB1.

Zcash Leaves Crypto Market Behind with 50 Percent Weekly Spike (CoinDesk), Rated: AAA

The total market capitalization of cryptocurrencies has dropped by 14.48 percent to $366 billion in the last 7 days, taking the month-to-date losses close to 30 percent, according to CoinMarketcap.

Weekly top gainers

Zcash

Weekly performance: +49.95 percent
All-time high: $953
Closing price on May 11: $238.83
Current market price: $358.12
Rank as per market capitalization: 20

Zcash
Source: CoinDesk
ZEC
Source: CoinDesk

Binance Coin

Weekly performance: +15.93 percent
All-time high: $22.48
Closing price on May 11: $12.99
Current market price: $15.06
Rank as per market capitalization: 18

Binance Coin
Source: CoinDesk

Lisk

Lisk

Crypto Kings (Infographic) (Bitfortune), Rated: AAA

Crypto Kings

Iran and Russia Discuss Transacting in Crypto to Avoid International Sanctions (CoinTelegraph), Rated: A

Iran and Russia could start using cryptocurrencies to avoid Western sanctions, Russian news portal RBC reported yesterday, May 17.

Mohammad Reza Pourebrahimi, the head of the Iranian Parliamentary Commission for Economic Affairs, referred to cryptocurrencies as a promising way for both countries to avoid US dollar transactions, as well as a possible replacement of the SWIFT interbank payment system.

Last week, Pourebrahimi had reported that without access to the international banking system, Iranian citizens have so far succeeded in siphoning a staggering $2.5 bln out of the country in crypto.

Why Sanctions Are Bullish For Gold And Digital Currencies (Seeking Alpha), Rated: AAA

For thousands of years, gold has been a means of exchange that transcends borders. Central banks hold the yellow metal as part of their foreign exchange reserves and around 20% of all the gold ever mined in the history of the world remains in central bank coffers today. The monetary authorities validate the role of the rare and lustrous yellow metal as a store of value and exchange instrument by their holdings. Gold has been around a lot longer than all of the paper currencies now in circulation, and in many ways, it remains a global exchange instrument.

However, digital currencies are a different story as they fly beneath the radar of central banks, governments, and regulatory agencies around the world. The world of cryptocurrencies is, in many ways, a reflection of our technological age and the move towards globalism. Digital currencies exist in the esoteric world of cyberspace, and they challenge the status quo in the world of money and banking.

Ripple (XRP) And SBI Holdings Celebrate 2 Years As Visionary Partners (Ehereum World News), Rated: A

In the press release that was issued on the SBI Holdings website, the partnership with Ripple (XRP) was geared towards achieving the following:

  • Form the new entity, SBI Ripple Asia Co. Ltd
  • To promote currency and financial system innovation on the blockchain
  • Conduct business development in Japan and Asia
  • Provide a settlement platform utilizing blockchain technology in Japan and the entire Asia Region

What Needs to Be Done With the Elephant in the ICO Room? (NewsBTC), Rated: A

There is an elephant in the room and that room is the current ICO market. The elephant is the unignorable fact that the majority of ICOs offer no protection to their token buyers who consider themselves as investors. These buyers are not investors.

In 2017, initial coin offerings, or ICOs, emerged into the big time. Over the course of the year, startups conducting an ICO as a way of raising startup capital raised over $6.5 billion.

Empowered by the belief that security tokens are the future of a global tokenized economy, the DESICO team will introduce the world’s first fully legally compliant, and therefore game-changing, infrastructure to issue and trade security tokens.

DESICO’s full legal compliance is rooted in its country of operation. DESICO has chosen to operate from Lithuania, a Eurozone member and European Union member state. Lithuania holds a significant legal advantage due to its crowdfunding law, which makes it one of the few countries in the world, and the only EU country, to fully legally regulate ICOs.

Four Steps for Cryptocurrency Analysis (SWNS.com), Rated: A

When you are dealing with traditional investments like stocks and bonds, you generally have an idea of how you are going to proceed as an investor.

1. Research

One of the first things you have to do is find out about whatever it is underlying the as set.

2. Investigate the Macro

Much as you would be wary of investing in a single stock if the whole stock market seemed ready for a downturn, so too would you be hesitant to make a play on a new crypto coin when the entirety of the crypto world is shaky.

3. Analyze the Stats

Find out if their market share has been on the rise and how the value has fluctuated in the most recent period of time.

4. Combine the First Three

Once you have all of this information in your mind, you can start to develop a three-dimensional financial picture of the coin that will tell you if it has the stuff to be a good investment property.

Robin8 Announces Cross-chain Ethereum integration to Expand Robin8 Profile Management Ecosystem to Ethereum Users (PR Newswire), Rated A

Only weeks after a successful launch of the Robin8 Blockchain Studio and the profile management ecosystem on the Qtum mainnet, the Robin8 Foundation has announced today its plans to expand the Robin8 DApp (Decentralized Application) to support the Ethereum platform as well as others in forthcoming announcements per our product roadmap. This will open the profile management ecosystem more users, which will facilitate the return of the profile data back to the owner and empower everyone with their data.

DECENTRALIZED RISK PLATFORM GRE TO BRING RISK TRADING TO THE MASSES (Bitcoinist), Rated: A

Global Risk Exchange (or “GRE”) is a blockchain-based, decentralized and open global risk contract exchange market, with the purpose of helping individuals, companies and organizations to freely hedge, transfer and trade their risks. The platform will bring risk trading to the forefront of exchange by addressing multiple inherent problems in today’s risk management industry.

European Union

The former CEO of Visa UK is joining a startup that wants to help people spend cryptocurrency (Business Insider), Rated: AAA

Marc O’Brien, who led Visa UK & Ireland from 2008 and 2014, has joined Crypterium as CEO. The startup, which was incorporated in Estonia last year, raised $52 million through an initial coin offering (ICO) at the end of last year.

Lightstreams seeks to solve a blockchain vulnerability: It’s too public (Martech Today), Rated: A

Even in private blockchains, transactions can be public to all of the participants in that network.

But that can also be a major drawback, since many kinds of transactions need to remain private because of the financial terms, the competitive strategy, the personal info or other reasons.

An Estonia-based startup is now out with a possible solution. Lightstreams has launched a blockchain network with a new Permissioned Block protocol that employs smart contracts to grant, block or revoke access to content for specific users.

Envion ICO Turns Into a Legal Battle Despite Raising $ 100M (The Merkle), Rated: A

The initial coin offering industry is plagued by scams, shady projects, and a lot of miscommunication. In the case of the Envion ICO, the founders are suing Matthias Woestmann and his corporation for breaching contractual obligations. This legal action against the shareholders of Envion AG, registered in Switzerland, doesn’t bode all that well for this particular project.

To put all of this into perspective, the Envion ICO successfully raised $100 million from investors all over the world. Although the project has a lot of merit, it seems the project’s founding team isn’t too happy with the shareholders of Envion AG. Quadrat Capital GmbH, a company managed by Matthias Woestmann, is of particular interest. It appears Woestmann has unlawfully secured the majority stake in Envion AG by breaching contractual obligations.

Sirin Labs Marketing Chief Offers ICO Campaign Tips (cryptovest), Rated: A

May said during the conference that startups conducting their ICOs had to focus on all three stages of the event – pre-sale, crowdsale, and post-sale. The last one is probably the most important because this is when one realizes what has been missed and what can go wrong.

For successful marketing, a project should achieve perfect harmony in combining three different personages:

  • The artist: This individual focuses on creativity and increases brand awareness and is the person who develops the right messages regarding the project.
  • The psychologist: Arguably the most important contributor. If a team does not know the intimate desires and beliefs of its target audience, it will not succeed with the project. The psychologist should manipulate the audience towards desired actions like “get engaged in my community” or “invest in my company,” May says.
  • The scientist: When you do an ICO, you need to invest a lot of money. The scientist is the person who measures everything to determine the ROI for every action you take.

ULedger Introduces Blockchain Solution to Ensure GDPR Compliance Ahead of May 25 (Chipin), Rated: A

ULedger today announced new tools that will allow any company to easily become GDPR (Global Data Protection Regulation) compliant ahead of the regulation going into effect on May 25, 2018. Plugging into a company’s existing data infrastructure, ULedger’s GDPR Compliance tool gives any organization an instant blockchain upgrade, ensuring that the new requirements around data control and data security are met.

ULedger’s Blockchain GDPR Compliance tools allows organizations to create and maintain a complete, immutable history of the company’s data, including email communications, photos, bank details, and any other data type pertaining to a person’s private, public or professional data. Its GDPR product also includes robust querying and reporting capabilities for compliance audits and proof, as well as breach notification, privacy by design, and data portability.

Switzerland is the Number 1 blockchain-friendly country in Europe (Smartereum), Rated: A

Switzerland has been named the most blockchain-friendly country in Europe by the Blockchain Conference Europe 2018. Study results released at the event website identified Switzerland as the best country to start a blockchain business.

Gibraltar at second place, and Malta at third joined Switzerland in the list of the top 10 countries to start a blockchain company. Other countries that make the cut were United Kingdom, Denmark, Germany, Portugal, Netherlands, Finland, and Belarus in that order.

Blockchain Gets Use Case With New European Data Rules, FIS Says (Big Law Business), Rated: B

Fidelity National Information Services Inc. uses distributed ledger technology to help ensure compliance with the European Union’s tougher rules about data collection and customer information, Andrew Hewitt, FIS’s director of payment and data solutions, said in a phone interview with Bloomberg News.

Those rules, the General Data Protection Regulation, are set to start May 25.

EOS Welcomes a New Team Member (Global Coin Report), Rated: B

While the sudden price drop has sparked confusions in the crypto community, EOS is all set to surprise its users with exciting new updates. As per the updates released on May 14, Rob Jesudason, the CFO of the Australian Commonwealth Bank has left the bank to join Block.one. Since Block.one is the developing team behind EOS, this is news for EOS. As per the reports, Jesundason has been appointed as the president and chief operating officer of Block.one.

United Kingdom

InterTrader Expands Its Range of Cryptocurrencies (PR Newswire), Rated: A

Spread betting and CFD provider InterTrader now offers CFDs on Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple prices.

Clients can speculate on the value of these cryptocurrencies, without having to make a physical purchase or use a digital wallet.

spread betting cryptocurrency

UK Royal Wedding? There’s a “cryptocurrency” for that (BitGekko), Rated: A

In the cryptocurrency world, people throw around the term “currency” for myriad questionable projects. But perhaps never has the word currency been used so loosely as it has with Royale Coin (ROYL).

The world’s first Royal-themed cryptocurrency is raising money to celebrate the UK Royal Wedding between Prince Harry and Meghan Markle.

The money raised by Royale Coin will be allocated to three charities chosen by the couple – Sentebale, The Invictus Games, and The Royal Foundation.

China

BINANCE DOUBLES REFERRAL REWARDS: BINANCE COIN PUMPS (Bitcoinist), Rated: AAA

The Malta-based exchange has announced that it will be doubling its referral commission rewards to 40 percent for qualified accounts.

Accounts eligible to receive the increased commission rewards are those which hold 500 Binance Coins — approximately $7355 at the time of this writing.

The price of BNB has rapidly increased following the announcement from Binance that the popular exchange will be doubling its referral commission rewards under certain conditions.

Binance Coin (BNB) Soars Against Both BTC and ETH pairs, Why the Rush to Buy? (Stocks Gazette), Rated: A

Binance Coin (BNB) continues its price dash after it was announced that the cryptocurrency’s parent exchange was to double referral commission. Today it’s once more in double digits, leading the market as its price surges to new highs.

On a day when most other coins stayed in the red, Binance announced that they will be increasing the bonus reward to 40% for all accounts that held 500 BNB or more.

On May 18, 2018, the coin opened trading at $12.36 against the US dollar and raced to a daily high of $16.22 before leveling off to close at $15.14. Although it touched lows of $12.05, the outstanding run took its market capitalization to $1.4 billion after a total of $243,261,000 worth of BNB were traded. Even though the market cap didn’t change that much, it’s the daily trading volume that saw most of the action- jumping from $54m on May 17, 2018, to $243m.

Bitcoin Mining Giant Bitmain Is Making a Major Pivot to AI (CCN), Rated: AAA

Bitmain is the world’s undisputed leader in cryptocurrency mining hardware manufacturing. Now, it wants to fill a similar role in the artificial intelligence (AI) field as well.

Wu explained that ASIC chips, which the company uses to produce powerful and efficient cryptocurrency miners, are also important components for particular types of deep learning.

PwC China Survey Finds That Most Companies Prefer to Investigate Blockchain Internally (Block Explorer), Rated: AAA

A joint survey by PwC and VeChain has found that most enterprises prefer to setup their own in-house research and development (R&D) teams to investigate the blockchain.

The survey, 2018 Market Survey Report for (Non-Financial) Application of Blockchain in Chain, was conducted between November and December 2017, taking the form of online questionnaires and focus group discussions.

blockchain technology
Source: PwC

Read the full report here.

China Has Found 421 Fake Cryptocurrencies (Bitcoin.com), Rated: A

A Chinese government-backed industry organization has published a report on fake cryptocurrencies. As of April, its monitoring platform has found 421 fake cryptocurrencies, 60% of which are deployed overseas. The Committee has also outlined major red flags of these cryptocurrencies.

The National Committee of Experts on the Internet Financial Security Technology (IFCERT), a Chinese government-backed industry organization, published the results of its analysis on fake cryptocurrencies on Friday.

See the report in full here.

Hong Kong Airlines Cathay Pacific Starts Blockchain Rewards Program (Bitcoin Exchange Guide), Rated: A

Airline giants Cathay Pacific joins a growing list of airline operators exploring applications of blockchain technology. The Hong Kong based airline will launch its first of blockchain based application to issue air miles to customers over a single distributed ledger that will enable customers, the airlines’ partners and the airline manage member rewards in real-time.

Australia

Blockchain to Deliver Welfare Payments in Australia (Bitsonline), Rated: A

The Australian government’s Digital Transformation Agency (DTA), has disclosed plans to explore blockchain tech use cases with the intention to digitally transform the delivery system of Centrelink welfare payments. DTA will also research how Artificial Intelligence and Machine Learning can deliver a range of government services in a more efficient way.

At a CeBIT conference, Acting CEO Randall Brugeaud outlined DTA’s plan to explore blockchain technology use in the welfare payments system with an intent to have a prototype by mid-2019.

Asia

Supreme Court of India ‘Denies’ Petition Filing against RBI’s Circular on Cryptocurrencies (BC Focus), Rated: AAA

The central court of India “Supreme Court” has taken a decision on the recent cryptocurrency ban favouring RBI. Supreme Court has stated that now crypto companies cannot file petition in High Courts of India against RBI circular dated April 6. The petitions that have already been filed will be given to Supreme Court. Yesterday, a twitter post on CryptoKanoon has confirmed the news.

Thai SEC Says Digital Asset Business Law Now Effective, Regulates Initial Coin Offerings (Crowdfund Insider), Rated: A

The Thailand Securities and Exchange Commission (SEC) said that new legislation enacted to regulate the offering of digital assets, including initial coin offerings (ICOs) and businesses undertaking these activities, is now effective. A public hearing is scheduled to take place on the regulations at a future date. The Royal Decree stipulates that the SEC shall be the main regulator for digital token offering and undertaking of digital asset businesses with the authority to issue relevant rules, conditions and procedures.

NEO statement on storage injection vulnerability (NEO  News Today), Rated: A

On Friday May 18th, NEO released a statement informing that a vulnerability had been discovered in the code of a number of NEP-5 smart contracts. The full statement can be read below.

Electronics Giant LG Launching Its Own Blockchain and Digital Currency Service (The Daily HODL), Rated: A

South Korean electronics giant LG is launching its own blockchain and digital currency service to help companies manage their finances and logistics.

The service is called “Monachain” and offers businesses a blockchain-based way of managing money, communications and manufacturing.

Eurasia

Kazakhstan President Calls for Global Rules on Cryptocurrencies under UN Oversight (CCN), Rated: AAA

The president of Kazakhstan, Nursultan Nazarbayev, is urging the global community to work together to draft common rules regarding the use of cryptocurrencies. Nazarbayev said the current, disparate regulatory guidelines around the world cause confusion and inefficiency.

The Kazakh president said it’s important to reach a global consensus regarding crypto regulations as the market grows. Accordingly, he suggested that the United Nations spearhead the efforts to aggregate rules.

RUSSIA MOVES TO REGULATE CRYPTO, ISSUES FIRST COMMERCIAL BONDS VIA BLOCKCHAIN (Bitcoinist), Rated: A

Russia’s State Duma Committee on State Construction is to support the first reading of a regulatory proposition which is to incorporate the fundamental rules for the digital economy in the country’s Civil Code. At the same time, a leading Russian bank issues the first commercial bonds carried out via Blockchain-based technology.

MENA

Orbs Raises $ 118 Million to Fund Consumer Apps Blockchain Platform (The-Blockchain.com), Rated: AAA

Orbs, focused on large-scale consumer blockchain applications with mass market appeal and functionality, has raised over USD 118 million to fund the development and launch of its platform.

Latin America

A Closer Look at the Developments on the Bytecoin Blockchain (Global Coin Report), Rated: AAA

Speaking of Bytecoin’s performance in the market, the coin went through a rough patch last week, as it has witnessed some unusual developments. To begin with, the price of the currency shot up exponentially after Bytecoin got listed on Binance. Bytecoin’s listing on Binance, which took the overall market capitalization of BCN to $3.4 billion, has attracted many new investors to the blockchain, including inexperienced traders. However, the price consolidation led to the epiphany that the spike was a part of the pump and dump scheme.  All data got wiped off as the token fell from rank 15 to 1594, freezing all digital wallets. The executives later reported that they immediately shut down trading activities after they realized that about 25% of their miners were using outdated software, leading to bugs in the system.

As per the price records, the coin is recovering from its losses after the damages caused during last week. The coin, which has been restored to the 17th position in Coinmarketcap, boasts a market capitalization of $1,852,439,152 at the time of writing. Bytecoin is making a successful comeback, but it is still heavily relying on Binance for trading.

Caribbean

After Coinbase, Now Bitfinex to Share User Data with the Government (CoinGape), Rated: AAA

The 4th largest crypto exchange by 24-hour trading volume, Bitfinex will now be sharing the users’ data with the government of British Virgin Island which is reportedly in lines with US Foreign Account Tax Compliance Act.

Utrum a Trusted Playbook for Crypto Investors Launches First of its Kind Decentralized ICO (DICO) on Komodo Platform (BTCManager), Rated: A

Utrum, the grass-roots project building a trust platform for crypto investors launched their “Transparent Crowdsale” pre-sale May 10 and within 24 hours raised 12 percent of their soft cap and their token OOT was listed on CoinMarketCap, a first in cryptocurrency history.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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