Blockchain Daily News – Edition 9, 14.07.2017
July 14, 2017
Blockchain Daily News – Edition 11, 18.07.2017
July 18, 2017

Blockchain Daily News – Edition 10, 17.07.2017

Blockchain Daily News

by Florin Oprea

Edition 10, 17.07.2017

Deals, Investments & M&As

Why One Analyst Is Bolting The World Of Start-Ups To Take On Bitcoin And Ethereum

Ari Levy – CNBC

Former analyst at Union Square Ventures is starting his own crypto fund.

That analyst, Joel Monegro, is now getting out of the traditional venture world to invest solely in crypto assets. Monegro recently left Union Square to start a crypto fund, joining forces with Chris Burniske, a blockchain expert formerly at ARK Investment Management.

FAO: Another crypto fund is taking shape. Earlier this month we reported about Roberto Ponce Romay, a former Bain manager, who launched Crypto Assets Fund (CAF).

Jon ‘Neverdie’ Jacobs Raises Ethereum Cryptocurrency To Enable Cross-Platform Online Game Avatars

Dean Takahashi – Venture Beat

Jon “Neverdie” Jacobs has done some crazy things, like running for “President of Virtual Reality” and buying a virtual asteroid for $100,000 in real money in the online game Entropia Universe.

FAO: Did he buy “Useless Ethereum Tokens” as well?

Cryptocurrencies

The Future of Payments: Visa, Inc.’s Jack Forestell Talks Cashless Culture, Banking the Unbanked, and Formula E

Rebekah Iliff – The Huffington Post

FAO: Interview with Jack Forestell, Visa, Inc.’s Head of Global Merchant Sales and Solutions.

Is the Middle East Ready For Its Own Version Of Bitcoin?

Ismaeel Naar – Al Arabiya

Saudi entrepreneur Mohammed Alsehli is now trying to replicate Bitcoin’s success in the Arab world through his company ArabianChain Technology and DubaiCoin-DBIX, what may very well be the Middle East’s first digital currency.

FAO: There is a growing interest for blockchain initiatives in the Arab world. UAE,  where ArabianChain is based, plan to invest more than $1 billion for creating a government-backed blockchain industry.

Exchanges & Trading Venues

Co-founder’ Of AlphaBay Dark Web For Drugs And Weapons Found Dead In Cell

Fiona Keating – Independent

Alexandre Cazes, believed to be behind darknet marketplace AlphaBay, has been found dead in a Bangkok jail cell.The suspected co-founder of AlphaBay, one of the largest dark web marketplaces, was found unresponsive at Thailand’s Narcotics Suppression Bureau.

He was due to meet prosecutors pushing to extradite him to the United States just an hour before they found his body.

The Biggest Dark Web Takedown Yet Sends Black Markets Reeling

Andy Greenberg – Wired

Not since the days of the now-legendary Silk Road has a single site dominated the dark web’s black market as completely, and for as long, as the online bazaar known as AlphaBay. And with the news that the site has been torn down by a law enforcement raid—and one of its leaders found dead in a Thai prison—the dark web drug trade has fallen into a temporary state of chaos.

FAO: Unfortunately these black markets exist and little can be done to stop them. In this case the good triumphed over evil. A law enforcement operation deployed in three countries tore down AlphaBay.

GDAX Plans to Suspend Bitcoin Withdrawals If UASF Activates

Wolfie Zhao – CoinDesk

Digital currency exchange platform GDAX has revealed its contingency plans in the event a controversial bitcoin scaling proposal is activated.

BIP 148, which triggers a so-called user-activated soft fork (UASF), to activate the Segregated Witness (SegWit) scaling solution, are pushing ahead with their plans despite the popularity of another scaling proposal, Segwit2x, which pairs the activation of SegWit with an increase to the size of the network’s transaction blocks three months later.

FAO: More coverage on the Segwit2x proposal in our previous editions i.e. here, here and here.

Poloniex Solves $70,000 Account Balance Issue After Reddit Complaint

JP Buntinx – The Merkle

Some Poloniex users are getting fed up with the company right now. Ever since the platform saw an influx of new users, the number of issues started piling up. GpuShack President, Alexander Levin, is one of the people who has taken issue with Poloniex.

Vendors

Ex-LG Security Officer Targets Ad Privacy With Blockchain Search Engine

Jonathan Keane – CoinDesk

Called BitClave, the startup is led by Alex Bessonov, who notably oversaw security controls and research for LG’s products in 2015 and 2016.

BitPeople

Blockchain For Babyboomers: What Stops Older Generation From Using Bitcoin?

Cointelegraph

Baby boomers are the richest generation in US history, accounting for 70 percent of the nation’s disposable income, and inheriting some $13 tln in the next 20 years.

Yet Bitcoin users over 55 years old account for less than seven percent of the total market. What’s stopping the older generation from entering this $87 bln market?

FAO: The fear for the unknown and technophobia are at least two factors. Other things?

To the Moon? Blockchain’s Hiring Crunch Could Last Years

Sid Kalla – CoinDesk

As the headlines already attest, startups that have sold cryptographic tokens as part of a new wave of fundraisings are struggling to find qualified developers, but it’s a pain also shared by projects building public and private blockchains.

FAO: New initiatives in blockchain focused education could be a start. Universities already started to add blockchain to their course list, as reported here, during our soft launch.

The UK Has A Blockchain Talent Problem

Sarah Kocianski – Business Insider

Even as financial institutions (FIs) continue to invest in and experiment with blockchain technology, a major hurdle to the success of their initiatives remains — the availability of qualified talent to help them bring their plans to fruition.

Latest Developments & Agreements

Bitstamp And Swissquote Pioneer Bitcoin Integration With The Traditional Financial System

Marketwired

Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution for all of Swissquote’s requirements.

Blockchain Sharpens Dianrong’s Edge In P2P Lending To Small Businesses

Zen Soo – South China Morning Post

Dianrong is combining blockchains to its loans assessment system, aimed at helping small and medium suppliers with unsteady cash flows breach the last mile of creditworthiness to obtain financing.

Associations & Federations

Japan’s Cryptocurrency Business Association Plans for August 1 Guidelines

Jamie Redman – Bitcoin.com

Japan has had bitcoin fever over the past few months.

Analysis

Ethereum Briefly Crashes 20% To 7-Week Low Amid Worries About Rival Bitcoin’s Future

Evelyn Cheng – CNBC.com

Ethereum hit a low of $130.26, down 22 percent from Saturday night’s prices and the lowest since May 27, according to TradingView charts of Coinbase data.

Bitcoin Price Drops Below $2,000 as Crypto Markets Fall Toward $70 Billion

Pete Rizzo – CoinDesk

The price of bitcoin hit a 49-day low on Sunday, falling below $2,000 for the first time in weeks amid a broad sell-off across crypto assets.

The value of the total supply of all cryptocurrencies and crypto assets tracked similarly, dropping to $72bn, a figure that was 37 percent lower than its all-time high of $115bn set in June.

Crypto Market Nears 50% Fall From All-Time High

Pete Rizzo – CoinDesk

The total value of all publicly traded cryptocurrencies has declined more than $10bn in the last 24 hours, amid a sell-off that broadly impacted the nascent asset class.

FAO: Crypto markets took another big hit at the end of last week. Market cap dropped more than 45% in the last month.

The $3.8bn Cryptocurrency Bubble Is A Huge Deal. But It Could Break The Blockchain

Gian Volpicelli – Wired

How did the equivalent of coupons for a supermarket under construction come to be worth $3.8bn, and counting?

Blockchain Technology Set to Revolutionize The Financial Services Market

PR Newswire

The application of blockchain could lead to a per-year cost savings of $6-8 billion in KYC/AML, $30-40 billion in trade finance, and $50-60 billion in capital markets.

FAO: New report by BIS Research.

Other news

Could A Blockchain-Based Electricity Network Change The Energy Market?

Max Opray – The Guardian

Blockchain-enabled energy trading could help lower carbon emissions but efficiency and privacy issues must first be overcome

DNT: Blockchain means “revolution”. So, I think the answer is YES. It could change the energy market. And it will, in the near future. What do you feel about this? Send us your thoughts.

Opinion

Blockchain And Artificial Intelligence Is Coming, Ready Or Not

Alan Kohler – The Australian Business Review (subscription)

Business and financial innovation is starting to focus on two things above all: artificial intelligence and blockchain.

DNT: The title of this story reminded me  some lyrics from the song “Ready or not” (Fugees) “here I come, you can’t hide, gonna find you and take it slowly”. Seriously, this is the naked truth. As I said above, Blockchain means “revolution” and it involves AI also. We live the future!

 

FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News