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Blockchain Daily News – Soft launch Edition #11, 05.06.2017

Blockchain Daily News

by Florin Oprea

Edition #11, 05.06.2017

Deals, Investments & M&As

Welcome to the Age of ICOs

Elliot Feeny & Brandon Green – Bitcoin Magazine

$35M in 30 Seconds: Token Sale for Internet Browser Brave Sells Out

Jonathan Keane – CoinDesk

Brave, the upstart web browser founded by Mozilla co-founder Brendan Eich, completed an initial coin offering (ICO) today that is likely to be distinguished for its speed and earnings.

Overall, the sale for Brave’s ethereum-based Basic Attention Token (BAT) generated about $35m and was sold out within blocks, or under 30 seconds. One buyer went so far as to purchase 20,000 ETH (or about $4.7m) worth of tokens – designed to monetize online attention and create a new revenue source for publishers.

Prof. Dr. Philipp Sandner, Frankfurt School Blockchain Center:

“While the concept is good, it might not be feasible to operate such a business model with the current transaction costs in Ethereum (0.08 USD to 0.10 USD per transaction)”

Cryptocurrencies Go Way Beyond Bitcoin, And Way Out Of Reach

Jessica Sier – AFR

“This is what I live for!” crows one cryptocurrency trader on the popular forum, Reddit. “The minute these babies hit 1000, I’m cashing out and buying a crypto-yacht.”


Why Bitcoin Needs Washington to Go Mainstream

Jerry Brito – Fortune

Bitcoin could become critical infrastructure that one day revolutionizes the online economy. Like the open Internet, support from government is key to fostering its growth. Fortunately, there are concrete steps that the U.S. government can take to ensure the country’s competitiveness in this booming sector.

Governments May Be Big Backers Of The Blockchain

The Economist

An anti-establishment technology faces an ironic turn of fortune.

FAO: Meanwhile in Russia, President Putin met the founder of Ethereum, Vitalik Buterin

Ethereum Inventor Vitalik Buterin Meets Russian President Vladimir Putin

Andrew Quentson – Crypto Coins News

According to Russia’s Press Secretary, after communication with CEOs of the largest corporations, the Russian president briefly communicated with the founder of Ethereum, Vitalik Buterin, who spoke about the possible use of blockchain technologies in the Russian Federation. The Russian president has supported the idea of establishing business contacts with possible Russian partners, the press secretary said.

FAO: Wonder what was the topic of their discussions…

Russia to Soon Get Its Own National Cryptocurrency


Cryptocurrencies and blockchain technology has received significant attention at the ongoing Saint Petersburg International Economic Forum. The Russian Central Bank made an important announcement regarding its plans to introduce a national cryptocurrency during the event.

The introduction of a national cryptocurrency comes at a time when Russia is mulling over the possibility of legalizing Bitcoin and other altcoins in the country. The plans to develop a national cryptocurrency was announced by Russian Central Bank’s Deputy Chairman, Olga Skorobogatova.

Exchanges & Trading Venues

Moscow Exchange Might Launch Cryptocurrency Trading


Moscow Exchange is considering the possibility of launching trading in cryptocurrencies, the Moscow Exchange CEO Alexander Afanasiev told reporters on the sidelines of the St. Petersburg International Economic Forum 2017 (SPIEF 2017).

FAO: Maybe Putin just offered Vitalik Buterin a job somewhere…

Coinbase Seeks New Funds at $1 Billion Valuation (sub)

Tomio Geron – Wall Street Journal

Talks with VC firms come amid virtual currency’s price surge.

Coinbase – Europe, The Next Chapter

Zeeshan Feroz, CEO (UK) at Coinbase – The Coinbase Blog

“We opened our doors to users in Europe back in 2014. Since then, we have steadily seen our user base grow and the last 6 months have been our strongest ever. The United Kingdom is our fastest growing market with Switzerland, Spain and France close behind.”

Coinbase Has Eyes On Global Expansion After Opening New London Hub

Billy Wood – BDaily

Coinbase has moved into new offices in London as it looks to capitalise on the boom and fuel its global expansion.

FAO: A bridge too far? What do you think?

Ethereum Smart Contract Error Costs Cryptocurrency Exchange $14 Million

Stan Higgins – CoinDesk

According to social media posts and a subsequent statement from Vancouver-based QuadrigaCX, the issue had to do with a previously used “splitter contract” which was utilized to separate incoming ethers and classic ethers (another cryptocurrency that arose from a blockchain split last year).

Yet a recent ethereum client software update, according to QuadrigaCX, led to an issue with how the smart contract functioned.

FAO: Gulp…


The Benefits And Best Practices Of Branding Your Own Cryptocurrency

Chalmers Brown, co-founder & CTO at Due. – Forbes

Before you jump right in, there is a certain skill level that is necessary to create your own cryptocurrency brand.

Latest Developments & Agreements

Ripple Sends Blockchain Transaction Across 7 Ledgers

Michael del Castillo – CoinDesk

Ripple open-sourced the first bitcoin plug-in for its Interledger protocol (ILP), designed to seamlessly let users conduct transactions across a wide range of ledgers.

By open-sourcing the bitcoin tool, along with another plug-in for enterprise-focused platform Chain, Ripple was able to conduct, in a live demo, a single transaction across seven different ledgers. Conducted at the Blockchain Expo in Berlin, Germany, the single transaction went across public blockchains, private blockchains, a centralized ledger and a traditional payment channel.

FAO: Notable Ripple breakthrough.

Japan’s NEC Expands Role in Hyperledger Blockchain Project

Stan Higgins – CoinDesk

Daichi Iwata, who leads the NEC’s fintech business development office, is also joining Hyperledger’s governing board.




A group of fifteen consortium members from seven European countries has initiated project TITANIUM (Tools for the Investigation of Transactions in Underground Markets), to curtail criminals and attackers from using blockchain technology to avoid law detection, while at the same time respecting the privacy rights of legitimate users.

The researchers are in a consortium undertaking a three-year, €5 million project, funded by the European Union aimed at developing technical solutions for investigating and mitigating crime and terrorism involving virtual currencies and underground market transactions.


Proof of Blockchain Protocols Coming of Age

Crowdfund Insider

Sasha Ivanov, CEO of Waves, spoke at St. Petersburg International Economic Forum (SPIEF)


Max Keiser: Bitcoin Price Cycle Will Repeat to $100k and Beyond

William Suberg – The Cointelegraph

The RT host tweeted Friday that despite the boom and bust cycles, Bitcoin would continue to defy naysayers and continue growing – first to $3,000, then $10,000 and “all the way to $100,000 and beyond.”

FAO: no comment.

What If The Bitcoin Bubble Bursts?

The Economist

Is the latest frenzy like tulip-mania, a gold rush or the dotcom boom?

FAO: Let’s ask Max (see previous story) or Mrs Watanabe (see below)

Fretting Over Savings, Mrs Watanabe Turns To Bitcoin

Minami Funakoshi & Joyce Lee – Reuters

Asia’s moms and pops, already regular investors in stock and futures markets, have been dazzled by bitcoin’s 100% surge so far this year. In comparison, the broader Asian stocks benchmark has gained 17 percent over the same period.


Why the Blockchain Needs More Failures to Succeed

William Mougayar – CoinDesk

Tired of scams? In this opinion piece, Mougayar argues that more failures are what’s needed to take blockchain technology to the next level.


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