Camila Russo & Yuan Gao – Bloomberg (subscription)
Huawei is considering developing a mobile phone that will be able to run blockchain-based applications, according to two people familiar with the plans. Huawei is in talks to license Sirin Labs’ operating system, called SIRIN OS, to run blockchain applications alongside Alphabet Android system, said the people, who asked not to be named because the talks are private. Talks are preliminary and no agreement has been signed, the people said.
DNT: A wonderful idea, let’s hope that it will become reality.
FAO: Swiss-Israeli firm Sirin Labs raised $118 million in an ICO last year (reported here) for an open source blockchain smartphone.
Will Anderson – Austin Business Journal
Multicoin Capital Management announced that it intended to raise a $250 million flagship fund and that it had secured money from high-profile financiers such as Marc Andreessen of venture capital firm Andreessen Horowitz. Now securities paperwork highlights where that money is coming from and where it’s going.
Markus Kasanmascheff – Cointelegraph
The German fintech incubator FinLab AG and Block.one, developer of the Blockchain software platform EOS.IO, announced a $100 mln joint venture to develop projects that use EOS’ software.
FAO: So that’s another $350m to enter the “cryptoverse” very soon. It means our daily bulletin will be even more useful in the future. Better keep reading us! And give us a hand by sharing our content on social media. You can find the buttons all over the place…
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Yuki Hagiwara & Yuji Nakamura – Bloomberg (subscription)
Bitcoin fell after Binance was said to face a government rebuke for operating without a license in Japan, heightening concern that increased regulatory scrutiny will curb demand for digital assets. Japan’s Financial Services Agency is planning to tell Binance to stop operating in the country without official approval, a person familiar with the matter said. Binance has several staff in Japan and has been expanding without receiving permission, the person said.
FAO: Don’t know about you, but Binance’s proceedings in Japan look quite chaotic. How can “One of the World’s Biggest Crypto Exchanges” function without at least applying for a license, especially after all said and done in this country and after the mega-hack @Coincheck…It’s an example of why regulation is sometimes strongly needed.
Olga Kharif – Bloomberg (subscription)
Messaging app developer Kik Interactive, which raised about $100 million last year to launch services on the Ethereum blockchain, discovered that the ledger technology isn’t ready for prime time. The company is shifting some of its business onto a different digital ledger, Stellar, and also building a custom blockchain using Orbs technology, explaining that no existing system is a perfect fit.
FAO: Sorry Kik, the Ethereum blockchain is currently too crowded with (meow!!) kitties. Kik’s plans to go on Stellar were previously discussed last year (here).
Frank Chaparro – Business Insider
Meet EverMarkets: A crypto-company building a trading platform to one day rival the bitcoin futures markets on CME Group and Cboe Global Markets. Trading of other assets, in addition to crypto, will also take place on the platform. The point of the upstart, similarly to Katsuyama’s IEX, is to de-emphasize speed in trading, but in cryptocurrency futures, not stocks.
FAO: For those who don’t know – “Flash Boys: A Wall Street Revolt” is a book by Michael Lewis, a non-fiction investigation into the universe of high-frequency trading (HFT) in the US equity market. BTW Nasdaq is suing IEX Group claiming it infringed on several patents for electronic trading technology – more in this previous edition of FinTech Daily News.
Rachel McIntosh – Finance Magnates
Molly Jane Zuckerman – Cointelegraph
Tether has issued another 300 mln USDT tokens priced at $1 per token according to data from Omni Explorer. In mid-February, Tether had released 86 mln in euro-backed EURT and 61.1 mln in US dollar-based USDT on the Ethereum Blockchain. Bitfinex’ed, an anonymous blogger and avid Tether critic, posted on Twitter that the release of such a large amount of Tether at once caused BTC’s price to rise in proportion.
DNT: Details about the mid-February tokens release by Tether, here, Cryptocurrencies section.
Ryan Browne – CNBC
IBM has unveiled a new blockchain product that lets start-ups and developers build their own distributed ledger projects. The service is a cheaper alternative to Big Blue’s current enterprise plan for firms looking to develop blockchain applications.
Annaliese Milano – CoinDesk
Fujitsu has launched a Brussels-based Blockchain Innovation Center. The company announced the initiative, noting that its primary objective will be to facilitate research on blockchain technology and to develop projects in collaboration with private and public sector organizations.
Yue Wang – Forbes
Famed venture capitalist Jim Breyer made his fortune largely by investing in Silicon Valley. Now, he is increasingly looking East where lucrative opportunities are beckoning in China.
DNT: Go East!
Olga Kharif & Mark Bergen – Bloomberg (subscription)
Google is working on blockchain-related technology to support its cloud business and head off competition from emerging startups that use the heavily-hyped technology to operate online in new ways, according to people familiar with the situation.
DNT: Not at all surprising. In fact, quite a natural move, giving the challenges and opportunities brought by distributed ledger technology.
FAO: Ok Google! Issue my new coin…
Huw Jones & Emma Rumney – Reuters
Ryan Browne – CNBC
Britain will unveil a task force that examines both the risks and benefits of cryptocurrencies.
The U.K.’s finance department, the Treasury, announced that the task force includes Britain’s central bank, the Bank of England, and the Financial Conduct Authority watchdog.
Anna Irrera & Michelle Price – Reuters
Tech start-ups that issue digital tokens to raise funds are falling in line with U.S. securities laws or seeking legal ways to skirt them after SEC said it planned to regulate the market.
FAO: Some would say this was quite predictable.
Nikhilesh De – CoinDesk
The South Korean Financial Services Commission has aired plans to encourage the use of blockchain technology in new payment systems in order to better protect user information.
The FSC will introduce new regulations to open the doors for banks and insurance companies to protect customer data and simplify verification processes with blockchain solutions.
Carleton English – The New York Post
If you’re mining bitcoin, you’ve got child porn sitting on your hard drive. According to a recent bombshell report, the underlying blockchain ledger contains files that are tainted with hundreds of links to child pornography sites.
Olga Kharif – Bloomberg (subscription)
Under the European Union’s General Data Protection Regulation, companies will be required to completely erase the personal data of any citizen who requests that they do so. For businesses that use blockchain, specifically applications with publicly available data trails such as Bitcoin and Ethereum, truly purging that information could be impossible.
Lucinda Shen – Fortune
Twitter CEO Jack Dorsey isn’t pulling his punches on Bitcoin. Twitter and Square’s chief executive, Dorsey, thinks the poster child of the cryptocurrency movement will come to replace all currencies.
“The world ultimately will have a single currency, the Internet will have a single currency. I personally believe that it will be Bitcoin,” Dorsey said. His timeline: “probably over ten years, but it could go faster.”
DNT: Guess Twitter will not ban crypto ads, like Facebook. 🙂
Evelyn Cheng – CNBC
A longtime developer in the cryptocurrency world predicts its technology will change global payments, fundraising and stock markets in the near future.
“In the future, I think it’s pretty clear to me there will be a universal payments network that will operate,” Jed McCaleb said. That will involve a “public ledger that people can see and can’t change arbitrarily” and letting people “use things they’re used to, like dollars and euros.”
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News