Blockchain Daily News – Edition 13, 20.07.2017
July 20, 2017
Blockchain Daily News – Edition 15, 24.07.2017
July 24, 2017

Blockchain Daily News – Edition 14, 21.07.2017

Blockchain Daily News

by Florin Oprea

Edition 14, 21.07.2017

OMG Section!?!!

Breaking: Hacker Steals $32 Million In Ethereum From 3 Multisig Wallets

Aziz Abdel-Qader – Finance Magnates

Nearly 153,000 units of cryptocurrency Ethereum, worth about $32 million, was stolen from three of the largest Ether multisig wallets in a hack seeming perpetrated today. The event is one of the biggest security breaches ever for the Bitcoin rival and it has the global cryptocurrency community rattled.

FAO: Second attack this week…#speechless

DNT: Yeah, this is already a BIG problem and the solutions seem to be far away…

PHILIPP SANDNER, Frankfurt School Blockchain Center: Maybe, with the Internet of Value arriving through blockchain technology, coders needs to be a little bit more perfectionistic like engineers?

Deals, Investments & M&As

‘Mistake’ Corrected: Overstock Invests in Blockchain Startup Symbiont

Michael del Castillo – CoinDesk

The blockchain branch of retail giant Overstock announced its first investment in Symbiont, a startup aimed at streamlining the way financial instruments are traded.

FAO: Actually Overstock’s Medici Ventures invested in Symbiont. Terms were not disclosed. In the last two years Wicklow Capital and Hundsun Technologies also invested in Symbiont.

Blockchain Startup Billion Pockets EUR2 Million EU Grant

Finextra

The EU’s biggest Research and Innovation programme, Horizon 2020, announced that it granted funding of almost EUR 2M to Billon Group, under the SME Instrument programme, to expand its innovative DLT solutions beyond instant corporate payments, into eCommerce and content monetization solutions.

FAO: Billon Group already received regulatory approval in two EU countries, and  acceptance into the FCA sandbox program.

Top 6 Cryptocurrency ICOs During The First Half of 2017

JP Buntinx –  The Merkle

FAO: K’ching! 6. MOBILEGO – $53.3 million, 5. TENX – $80 million, 4. STATUS –  $95 million, 3. BANCOR – $153 million, 2. EOS – $200 million, 1. TEZOS – $208 million.

Cryptocurrencies

Bitcoin Swings As Civil War Looms

Leo Kelion – BBC News

The value of the virtual currency Bitcoin has always been volatile. Even so, there has been particular turbulence in recent days as fears of a “civil war” among its adherents first grew and then subsided, although they have not gone away altogether.

Bitcoin Startups Advise Caution As Scaling Proposals Collide

Bailey Reutzel –  CoinDesk

With a major inflection point for bitcoin just days away, some users are beginning to wonder about the safety of their holdings on major exchanges.

FAO: Isn’t it a natural reaction?

Exchanges & Trading Venues

Prepared For A Hard Fork But May Shut Operations Around Aug 1: Indian BItcoin Exchanges

Sidhartha Shukla – Money Control

Indian bitcoin exchanges are likely to stop operations for some time during the period around August 1, citing concerns revolving around bitcoin’s software update.

Unocoin plans to suspend its services for about 72 hours until it gets more clarity post the network update, Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Moneycontrol.

PHILIPP SANDNER, Frankfurt School Blockchain Center: Interesting to see multiple services shutting down services over August 1. It is probably the best strategy to wait until the dust will settle.

Waves Launches Ether Gateway

Finextra

Having successfully launched bitcoin, USD and EUR gateways, Waves has now implemented an Ether gateway within the lite client – opening more possibilities for decentralised trading.

The gateway will enable users to store ETH and trade it against other tokens on the DEX.

Vendors

Japanese Online Giant GMO Launches Open Source Blockchain Project

Colin Firth – Finance Magnates

Internet giant GMO Internet Inc. of Japan announced the launch of the GMO Blockchain Open Source Software Project (GMO Blockchain OSS). The system will allow users to develop programs using blockchain as open source. In a first attempt by the company using this platform, the company has developed an open source medical record sharing system and launched it on July 6th, 2017.

Regulation

Russia Prepares To Legalize ICOs

Bitcoin.com

Russia is currently working on a regulatory framework to legalize ICOs. This is in addition to a bill that is being finalized to recognize cryptocurrencies such as bitcoin and ether.

FAO: Russia is “pedal to the metal” in this “business”. We should expect more in the next period.

United Kingdom Boosts Fintech While Americans Threaten To Suffocate Bitcoin

Leigh Cuen – International Business Times  

Brexit anxiety be damned: The UK is moving to protect London’s leading role in the global fintech ecosystem. Reuters reported the Bank of England published a detailed plan (yip, reported yesterday) for widening access to Britain’s interbank payments system and encouraging mobile P2P.

FAO: Meanwhile in the UK…

Mystery Coinbase Customer Steps Up In Fight To Quash IRS Tax Hunt

Wolfie Zhao – CoinDesk

Coinbase users aren’t backing down from an effort to shoot down an IRS subpoena seeking customer names and transaction data for an investigation on their potential tax liabilities.

FAO: Meanwhile in the US of A…

Governor Of Austrian Central Bank Advises Cryptocurrency Caution

Matthew De Silva – ETH News

Governor of the Austrian Central Bank Ewald Nowotny warned users about the speculative nature of virtual currency. Nowotny also serves as a member of the governing council of the European Central Bank.

Startups, Accelerators & Hubs

R3 Blockchain Consortium Considers Opening Office In Russia – Report

EconoTimes

Financial innovation firm R3 leading a blockchain consortium of global financial institutions may open an office in Russia, Russian payments provider and consortium member Qiwi told RNS.

FAO: Natural step, taking into account this country’s advance and plans in this sector.

Opinion

Why Ethereum Is Much More Valuable Than Bitcoin: SoFi CEO

Jen Wieczner –  Fortune

As lending startup SoFi expands from student loans to full-service banking, it is also venturing into one of the trendiest areas among big Wall Street banks at the moment: blockchain.

Why Bodegas Should Think Twice Before Allowing For Bitcoin ATMs

John Crudele – New York Post

It’s well known that digital currencies like bitcoin can be used for illicit things such as money laundering. That is, it seems to be common knowledge to everyone except the operators of the small grocery stores that are allowing bitcoin, the original digital currency, into their places of business.

But that may be changing.

FAO: Touche! “I’m going to get nasty reactions for saying this, but I believe bitcoin is a confidence game. But then again, so too are all the currencies of the world.”

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News