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Blockchain Daily News – Soft launch Edition #15, 13.06.2017

Blockchain Daily News

by Florin Oprea

Edition #15, 13.06.2017

Deals, Investments & M&As

Nasdaq Joins Investment Round In French Blockchain Startup Stratumn

Anna Irrera – Reuters

U.S. exchange group Nasdaq Inc has joined a 7 million-euro ($7.9 million) investment round in Stratumn, which helps companies develop applications using blockchain technology, the Paris-based startup said on Thursday.

The investment was led by Open CNP, the corporate venture arm of French insurer CNP Assurance SA, with participation from the Digital Currency Group and existing investor Otium Venture, Stratumn said.

This bitcoin investment vehicle could be ‘a disaster waiting to happen’

Jeff Cox –  CNBC

Bitcoin’s meteoric year is making owners of the digital currency rich while raising concerns that things could be getting out of hand.

Cryptocurrencies

Coinbase To Face Trial Over Possible Role In Cryptsy Exchange Collapse

Stan Higgins – CoinDesk

A growing legal dispute between the customers of a now-defunct cryptocurrency exchange and the business itself has ensnared one of the industry’s largest and best-funded startups.

Bug In Cryptocurrency Wallet CoinPayments’ System Affects Ripple Account Holders

Economictimes

CoinPayments, a leading cryptocurrency merchant payments solution and wallet service platform, recently announced that it detected an error in its Ripple service which allowed a few users to withdraw excessive XRP from hot wallet XRP accounts.

“The Future Is Here”: Singapore Tokenizes Fiat Currency on the Blockchain

Scott Dylan – Bitcoin Magazine

In a report entitled “The Future Is Here,” Singapore’s central bank announced that it has completed the first phase of a project involving the development of a tokenized version of the Singapore dollar (SGD) on an Ethereum-based blockchain.

FAO: Asia is steadily building up in both FinTech and Blockchain, check our sister publication FinTech Daily News for more fintech developments in Asia.

Exchanges & Trading Venues

How Stock Exchanges Are Experimenting With Blockchain Technology

Prableen Bajpai – Nasdaq

“Today, blockchain—the technology behind the digital currency bitcoin—might seem like a trinket for computer geeks. But once widely adopted, it will transform the world,” says Ginni Rometty, CEO of IBM. How right she is.

Blockchain has ignited curiosity among industries and sectors, especially in finance, and has been called “the future of financial services infrastructure.

3 Signs The Cryptocurrency Exchange Market Is Maturing

Alex Sunnarborg – CoinDesk

Underlying bitcoin and ether’s all-time-high price rallies in Q1 was a dramatically shifting global exchange market. So far in 2017, trading volumes have seen big changes, ones that indicate a reshaping of the global market.

Kraken Lowers Fixed Withdrawal Fee To 0.001 BTC Due To Community Outage

JP Buntinx – Bitcoin News

It is good to see the Bitcoin community make its voice be heard. While people understand exchanges pass transaction fees to customers, flat fees are never a good idea

BitPeople

Charlie Lee Leaves Coinbase to Focus on Litecoin Full-time

JP Buntinx – Bitcoin News

Interesting things are happening in the Litecoin ecosystem right now. Charlie Lee, the founder of Litecoin and a member of Coinbase, will leave the exchange. Instead, he will dedicate all of this time on advancing Litecoin and unlocking its full potential. This is major news for all Litecoin enthusiasts. It will be interesting to see if Litecoin can bring much-needed competition to Bitcoin.

FAO: Interesting to watch this further…

David Rutter has raised $107 million to build the ‘app store’ of financial services

Oscar Williams-Grut – Business Insider

Fintech startup R3CEV raised $107 million from a consortium of the world’s top banks last month, one of the largest funding rounds for a startup working with distributed ledger technology.

Interview: Vitalik Buterin on Scaling Ethereum, Its Popularity in Asia and ICOs

Joseph Young – Bitcoin Magazine

In an interview with Bitcoin Magazine, Ethereum co-founder Vitalik Buterin discussed some of the scaling issues Ethereum is currently dealing with, the rising interest in Ethereum in Asia and his thoughts on the ICO ecosystem in general.

Latest Developments & Agreements

R3’s DLT Software Corda Enters Public Beta

Wolfie Zhao – CoinDesk

Distributed ledger startup R3 has announced a significant milestone for its signature Corda platform.According to Richard Gendal Brown, the startup’s architect and CTO, Corda has now moved to its first public beta phase, marking a notable milestone that follows its launch in November 2016. Brown announced the news in a blog post last week, adding that the latest version of the software includes new API documentation and an expanded codebase.

Blockchain Successfully Tested In Sale Of Mutual Funds

Attracta Mooney – Financial Times (sub)

Asset management sector keen to find technology to improve cost saving and efficiency

Calastone, the technology company, said it had successfully used blockchain to buy and sell mutual funds under test conditions

Emirates Islamic Integrates Blockchain Technology In Cheques

Zawya

Emirates Islamic, an Islamic bank based in Dubai, announced on Sunday that it will introduce blockchain technology into its cheques as a fraud prevention measure.

Termed ‘Cheque Chain’, Emirates Islamic is the first Islamic bank in UAE to undertake this initiative to enhance security in the popular payment method.

Regulation

Israeli Banks Can Legally Refuse Service To Bitcoin And Cryptocurrency Companies

JP Buntinx – Bitcoin News

According to a new Tel Aviv district court ruling, Israeli banks can now refuse services to Bitcoin companies. This ruling is a result due to a dispute between Bits of gold and Bank Leumi. The financial institution dropped the Bitcoin exchange as a client, which did not sit well with Bits of Gold. There does not appear to be a solid reasoning behind this decision either. The Bitcoin exchange complies with all AML and KYC requirements. On paper, this was an unlawful action, which eventually resulted in a court case.

China’s Banking Regulators Push For Blockchain Securities Rules

Wolfie Zhao – CoinDesk

The Chinese securities market needs new rules focused on blockchain in order to ward off potential risks, according to a new paper from the China Banking Regulatory Commission (CBRC).

FAO: Will this help? Send me your feedback please.

Startups, Accelerators & Hubs

New Chicago Blockchain Center Launches With Government Backing

Michael del Castillo – CoinDesk

Several of Chicago’s largest enterprises have joined forces with the State of Illinois to formally launch a new blockchain center in the Windy City.

With partners that include the CME Group mercantile exchange, principal trading firm DRW and the State of Illinois, the Chicago Blockchain Center (CBC) was set up to help incubate local blockchain startups, mentor entrepreneurs and students, conduct original research and host a variety of events.

Analysis

Bitcoin Price Crosses $3,000 Milestone To Set New All-Time High

Pete Rizzo – CoinDesk

PHILIPP SANDNER, Frankfurt School Blockchain Center: Such breaking news might become obsolete quickly, given the strong price changes in markets for crypto currencies.

Ethereum ‘Blockchain Bloat’ Could Reach 1TB In 2017\

William Suberg – The Cointelegraph

Ethereum’s (ETH) blockchain is now larger than Bitcoin’s at around 180 gigabytes, with experts warning further increases may spell disaster.

After one user reported downloading the backlog of transactions for “over a week” while syncing a node, cryptocurrency commentator and entrepreneur Tuur Demeester highlighted a source giving an overall figure of up to 180 GB.

What The Hell Is Happening To Cryptocurrency Valuations?

Fitz Tepper – Techcrunch

The total market cap for all cryptocurrencies just surpassed $100 billion. The vast majority of these gains have come in just the last few months — on April 1st the total market cap was just over $25 billion — representing a 300 percent increase in value in just over 60 days.

PHILIPP SANDNER, Frankfurt School Blockchain Center: As this article nicely explains it is not possible to disentangle bubble and subtance of cryptocurrencies’ valuations.

Bank Execs Now Bullish On Public Blockchains, Survey Finds

Brian Patrick Eha – American Banker

Public blockchains, historically seen as a nonstarter for banks, are winning fans in the financial industry.

This sentiment is among the at-times surprising findings of a new study from Cognizant, a technology consulting firm. Over the past two years, banks have come to accept blockchain technology as a useful—and potentially transformative—innovation. Even so, most have tended to dismiss digital currencies and the public, open-source blockchains to which they belong in favor of private ledger systems.

Other news

Criminals Hijack Linux Servers Through SambaCry Exploit to Mine Monero

JP Buntinx – The Merkle

It would appear internet criminals favor mining Monero by distributing malware which exploits operating system vulnerabilities. Similar to the WannaCry ransomware attack, there is now a SambraCry attack. This particular exploit is leveraged against Linux servers, which are then hijacked and begin mining Monero. So far, around $5,400 worth of XMR has been mined already, albeit the official number may be much higher.

Bitcoin, Litecoin Exchange Platform Under DDOS Attack, Security Inadequate

Anthony Coggine – The Cointelegraph

This was most likely due to the congestion that the network received when the there was an overload in the system

 

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