Blockchain Daily News – Edition 174, 21.03.2018
March 21, 2018
Blockchain Daily News – Edition 176, 23.03.2018
March 23, 2018

Blockchain Daily News – Edition 175, 22.03.2018

Fans’ Section

Huawei Is In Talks To Build A Blockchain-Ready Smartphone

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.

Deals & Investments

Austin Crypto Hedge Fund Pulls In Big Chunk Of Initial $250M Flagship Fund

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.

Major European Fintech Investor FinLab And Block.one Announce $100 Mln Fund For EOS Projects

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…

Future Stars?

Have an interesting project/company looking for more visibility? Why don’t you send us more details, and after our review your project might get listed it in this section! Contact us HERE!

Exchanges & Trading Venues

Binance, One of the World’s Biggest Crypto Exchanges Is Facing Regulatory Trouble

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.

Blockchain Growing Pains Show There’s No Ledger To Rule Them All

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).   

Meet The ‘Flash Boys’ Of Cryptocurrency Looking To Shakeup Bitcoin Futures Trading

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.

Cryptocurrencies

Puerto Rico Launches Blockchain Council As BitMEX Issues Warning To Tether

Rachel McIntosh – Finance Magnates

Controversial Tether Issues $300 Mln In New Tokens, Critics React

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.

Vendors

IBM Launches A Cheaper Platform For Start-Ups To Build Blockchain Projects

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.

IT Giant Fujitsu Unveils European Blockchain Innovation Center

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.

BitPeople

The Next Frontier For Billionaire Investor Jim Breyer: China And Blockchain

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!

Latest Developments & Agreements

Google Is Working on Its Own Blockchain-Related Technology

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…

Regulation

Britain Unveils New Fintech Plans, Including Cryptocurrencies

Huw Jones & Emma Rumney – Reuters 

UK Launches Task Force To Scrutinize Cryptocurrency Risks And Benefits

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.

Cryptocurrency Issuers Clean Up, Shun U.S. Investors As SEC Gets Tough

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.

Accelerators & Hubs

South Korean Financial Watchdog Touts Blockchain In Fintech Plans

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.

Analysis

Blockchain For Bitcoin Is Infected With Child Porn

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.

Is Your Blockchain Business Doomed?

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.

Opinion

Bitcoin Will Become The World’s Single Currency, Twitter Chief Jack Dorsey Says

The Times

Twitter CEO Jack Dorsey Says Bitcoin Will Be the World’s Universal Currency

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. 🙂

Jed McCaleb, An Early Bitcoin Pioneer, Predicts How The Blockchain Will Change Banking

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