Blockchain Daily News – Edition 103, 27.11.2017
November 27, 2017
Blockchain Daily News – Edition 105, 29.11.2017
November 29, 2017

Blockchain Daily News – Edition 104, 28.11.2017

Blockchain Daily News

by Florin Oprea

Edition 104, 28.11.2017

Fans’ Section

Billionaire Hedge Fund Manager Ken Griffin Says Bitcoin Has ‘Elements Of The Tulip Bulb Mania’

Evelyn Cheng – CNBC

Citadel’s Ken Griffin said that bitcoin may be in a bubble.

Ken Griffin: “Bitcoin right now has many of the elements of the tulip bulb mania we saw back hundreds of years ago in Holland.”

Griffin, however, said he does believe the blockchain technology backing the cryptocurrency is valid.

Blockchain’s a very interesting technology that will have some very profound applications for society over the years to come,” he said.

DNT: Blockchain good, Bitcoin bad series…But, as Florin said here  (Opinion Section): people are still trading tulip bulbs..

Abu Dhabi Sovereign Fund Chief Disagrees With Jamie Dimon On Bitcoin: ‘One Has To Be Open-Minded’

Ryan Browne – CNBC

The chief executive of one of the world’s largest sovereign funds has said that he doesn’t believe bitcoin is a “fraud.” Khaldoon Al Mubarak, who heads Abu Dhabi’s Mubadala Investment Company, said he was “still on the fence” with regard to bitcoin and blockchain technology, but that people should look at both with an open mind.

Asked whether he agreed with Dimon’s view, Al Mubarak said: “No. I wouldn’t agree in calling it a fraud. I would say time will tell. It could well be (a fraud) and it could as well not be. I think one has to be open-minded.”

DNT: Well, guess this statement doesn’t need more comments. Why? Because “open “minded” says everything.

Deals, Investments & M&As

BBVA Applies Blockchain Tech To Letters Of Credit

Finextra

BBVA has applied blockchain technology from Wave to reduce the time taken to submit, verify and authorise an international trade transaction from seven to ten days, to just 2.5 hours.

VCs Target Australian Blockchain And Cryptocurrency Firms With $44m In Funds

With Yolanda Redrup – Australian Financial Review

Start-ups with designs on making it big in the fast-growing world of blockchain and cryptocurrencies will be targeted by two new funds focusing on the Australian market, with almost $44 million to spend. Apollo Capita, is attempting to raise a minimum of $30 million and will specialise in crypto asset investments, which it defines as digital currencies, blockchain-based assets and initial coin offerings. At the same time, NEM.io Foundation is expanding to Australia, planning to deploy around $14 million locally.

Crypto Tax Software Startup Libra Raises $7.8 Million

Wolfie Zhao   – CoinDesk

Blockchain startup Libra has raised $7.8 million in a new Series A funding round, the company announced. The financial resources came from a group of investors which included an unnamed family office based in Europe. Also contributing to the round, according to Libra, was seed-stage VC firm Liberty City Ventures, cryptocurrency market maker XBTO and Lee Linden, an early-stage investor who previously worked for Facebook.

Cryptocurrencies

Hedge-Fund Platforms Fear Bitcoin Is A Fad Like Tamagotchi

Suzy Waite, Nishant Kumar – Bloomberg (subscription)

Bitcoin’s march toward respectability faces another hurdle as hedge-fund platforms reject the overtures of firms trading cryptocurrencies. It’s the latest blow for a digital currency that’s struggling to break into the financial mainstream.

DNT: Meanwhile, investors sent BTC close to $10,000 landmark…In fact, the altcoin has even broken through the $10,000 mark on South Korea’s Bithumb, one of world’s biggest exchanges for cryptocurrencies.

Exchanges & Trading Venues

Bittrex Takes Steps To Prevent Price Manipulation On Its Platform

Rachel McIntosh – Finance Magnates

Bittrex has recently taken steps to prevent price manipulation and reduce volatility. Bittrex’s first order of business will be to raise the bottom of its trading amount requirements. In addition to the increase, Bittrex has announced that it will be removing ‘stale’ orders from its platform; anything older than 28 days will be tossed. Lastly, Bittrex announced that it would be changing the way that minimum tick sizes are calculated to keep up with market prices.

Trade.io Trade Token To Be Listed On HitBTC Exchange

PRNewswire

Trade.io has announced the launch of its partnership with HitBTC Exchange.

Vendors

Bringing Blockchain To IoT

Jon Buck – The Cointelegraph

The latest thing in the digital revolution is the proliferation of the Internet of Things

A new company, called Hdac (Hyundai Digital Asset Company) is creating a Blockchain solution for the problems that are currently facing the IoT. The company is backed by Hyundai, owned by the nephew of the car manufacturing owners, and is working to apply Blockchain technology to quickly and effectively communicate, handle identity, authentication and data storage.

BitPeople

Cryptocurrency Hedge Fund Fired ‘Rogue’ Trader Amid Claims Of Incompetence

Nathan Vardi – Forbes

A cryptocurrency hedge fund that manages $42 million and is backed by prominent venture capital firms fired a top trader in September, resulting in lawsuits that suggest the hedge fund was launched amid disarray while the mania over Bitcoin and Ethereum raged.

BlockTower Capital has sued its former trader, Gustavo Miguel, who separately sued the hedge fund and its two co-founders, Ari Paul and Matthew Goetz, claiming he was cheated out of salary payments and his ownership stake in BlockTower.

Via BTC News – Coinbase Looks to Hire Five More Engineers to Work on any Digital Currency Protocol

Latest Developments & Agreements

Samsung Wins Public Sector Blockchain Contract For Korean Gov’t

Jon Buck – The Cointelegraph

Samsung SDS has announced a lucrative agreement with the Korean government to create a new Blockchain technology-based platform for welfare, public safety and transportation by 2022. The hope is to increase transparency for the government services.  

DNT: There is a clear need for technological change, and this is a perfect example how certain governments deeply want to embrace blockchain while ICOs are considered dangerous and too risky…South Korea banned  the initial coin offerings in late September –  more details here, Deals, Investments & M&As Section.

A New Marketplace To Bet on Blockchain Startups Is Opening Up

Olga Kharif – Bloomberg (subscription)

A firm called BnkToTheFuture plans to open a market in the second quarter that will let investors trade equity stakes in companies involved with the blockchain. BnkToTheFuture will use a blockchain ledger to keep record of those investments for clients.

Startups, Accelerators & Hubs

Singapore Emerges As Third Largest Global ICO Hub

Shiwen Yap – Deal Street Asia (subscription)

Singapore has emerged as the third largest ICO market globally after the US and Switzerland and the leading hub for ICO activity in Asia, as part of a larger disruption to the venture capital sector. The only other Asian markets that saw significant ICO activity are Russia and Hong Kong.

DNT: No surprise, really. Singapore is a kind of wonderland for Cryptoverse..Check our Archive to convince yourself.

Analysis

Bubble Or Breakthrough? Bitcoin Keeps Central Bankers On Edge

Francesco Canepa – Reuters

Central Bankers say the success of BTC and other cryptocurrencies is just a bubble

But it keeps them awake at night because these private currencies threaten their control of the banking system and money supply, which could undermine the monetary policies they use to manage inflation.

Cryptocurrency Price Surge Could Boost GPU Sales, Says Wall Street Analyst

Aaron Stanley – CoinDesk

Prices increases in ethereum, monero and other cryptocurrencies could spark a sales boost for makers of graphics cards, according to one Wall Street analyst who covers the market.

In a research note to clients over the weekend, Mitch Steves of RBC Capital Markets argued that recent double-digit percentage increases in prices for some cryptocurrencies could drive more miners to enter the market, as well as drive established miners to expand their capacity by buying new GPUs.

Opinion

Here’s What The World’s Central Banks Really Think About Bitcoin

Eric Lam – Bloomberg (subscription)

DNT: An excellent overview about of how the world’s central banks are approaching cryptos subject.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News