Blockchain Daily News – Edition 175, 22.03.2018
March 22, 2018
Blockchain Daily News – Edition 177, 26.03.2018
March 26, 2018

Blockchain Daily News – Edition 176, 23.03.2018

Fans’ Section

Cryptocurrency Backed by Habanero Peppers Is A Thing in Mexico

Justin Villamil – Bloomberg (subscription) 

A cryptocurrency called Agrocoin is giving buyers a chance to invest in some of the world’s spiciest peppers.

Mexico’s Amar Hidroponia, which grows only habanero chilis, started selling digital tokens in September as a way to raise capital from smaller investors. Each 500 peso ($27) Agrocoin is backed by a square meter of hydroponic production in Quintana Roo state. The company says it expects to pay a yearly dividend equal to about 30% of the cost, depending on output and demand.

FAO: Viva la crypto-revolucion de chili!

Ex-Googler Darren Wang Wants To Upend Pigs And Hotels With The Blockchain

Cindy Wang – Bloomberg (subscription)

A Taiwanese startup led by former Google employee Darren Wangin tends to employ the same technology that underpins Bitcoin and Ethereum to shake up animal husbandry and travel.

FAO: Enter pigchain! #omg this world is going nuts. Oh, I know, let’s put nuts on the blockchain too…

Deals & Investments

Coinbase In Talks to Buy Bitcoin Startup Earn.com

Pete Rizzo  – CoinDesk

Coinbase may be on the verge of its biggest acquisition yet. According to sources close to the situation, the San Francisco startup, which has raised more than $225 million in venture funding, is in talks to purchase Earn.com, which rebranded late last year from 21.co with the launch of its eponymous paid messaging platform.

FAO: BTW if you/your company needs professional advice you can contact me directly via Earn.com – here’s my profile.

Coinbase Glitch Allowed Unlimited Ethereum Balances

Bitcoin.com

On March 21 Coinbase publicly revealed an ethereum balance glitch that allowed users to manipulate their account balances. Researchers noticed that, by utilizing a smart contract, a person could add as much ethereum as they wanted to their account.

Blockchain Capital Raises $150 Million, Looks Beyond Financial Services

Leigh Cuen – CoinDesk 

Blockchain Capital has raised $150 million in its fourth fundraising round, raising the total value of assets under the venture capital firm’s management to $250 million. Blockchain Capital’s portfolio already includes fintech companies such as Coinbase, Ripple, Circle, and Kraken.

FAO: Keep them coming. Press release here.

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

TMX Enters Bitcoin Market With New Cryptocurrency Platform

The Globe And Mail (subscription)

TMX’s Shorcan Announces Cryptocurrency Initiatives

Mondovisione

TMX Group announced that its wholly-owned subsidiary, Shorcan Digital Currency Network, has entered into an agreement with Paycase Financial to launch a new cryptocurrency brokerage service focused on Bitcoin and Ether. BMO Financial Group will provide Shorcan DCN with banking services as part of the payment and settlement infrastructure.

FAO: We have seen a lot of action on North America’s cryptoverse scene. While US exchanges still wait for clearer signals from their regulators, here comes TMX with a clear endorsement for this investment universe.

Japan Regulator Warns Cryptocurrency Exchange Binance Over Unregistered Operations

Reuters Staff – Reuters

Bitcoin Falls On Fears of Regulatory Trouble For Big Crypto Exchange

Yuki Hagiwara & Yuji Nakamura – Bloomberg (subscription) 

A regulatory rebuke for one of the world’s largest cryptocurrency exchanges is giving Bitcoin investors the jitters. Japan’s Financial Services Agency issued a warning to Binance for operating cryptocurrency exchange services with Japanese residents through the internet without a license in the country, according to a statement on the agency’s website.

FAO: We have discussed this topic yesterday. As an effect, Binance is already looking to other jurisdictions, see below…

The World’s Biggest Crypto Exchange Is Heading To Malta

Yuji Nakamura – Bloomberg (subscription)

Binance, the world’s largest cryptocurrency exchange by traded value, is seeking a fresh start in the Mediterranean. The company  is planning to open an office in Malta, said founder Zhao Changpeng. Binance will soon start a “fiat-to-crypto exchange” on the European island nation, and is close to securing a deal with local banks that can provide access to deposits and withdrawals, he said, without providing a timeframe.

FAO: Plans, plans, plans…”without providing a timeframe”. The only certain thing I see here is that their strategy remains quite “chaotic”, especially their strategy concerning communication.

Cryptocurrencies

Economists’ Cryptocurrency Aims To Avoid Pitfalls Of Bitcoin

Martin Arnold – Financial Times 

Nobel-Winning Economist Myron Scholes, Is Part Of A Team Launching A Low-Volatility Cryptocurrency

Eshe Nelson & Joon Ian Wong – Quartz 

A group of famed economists and financial innovators have a plan to address those challenges by creating “the first non-anonymous blockchain-based digital currency,” called Saga. Saga is being developed by The Saga Foundation, a Swiss non-profit created last year that is dedicated to developing new technologies in open and decentralized software.

FAO: This could be an interesting project. It sounds like a compromise-coin project offered to keep some regulators happy…We will keep an eye on this Saga…

Dutch Court Finds Bitcoin A Legitimate “Transferable Value”

Ana Alexandre – Cointelegraph

A Dutch court classifies Bitcoin as a “transferable value” after the court ruled in favour of a plaintiff who was owed 0.591 Bitcoins , according to a court document published March 20.  

FAO: So it’s a currency for the Dutch Court, and an asset for the G20 Financial Stability Board (FSB). Awesome. We now know bitcoin is definitely not a bird, nor a plane…

BitPeople

The Crypto Craze Has Spread To College Campuses

Aditi Roy – CNBC 

Cornell, Carnegie Mellon, Duke, MIT and Stanford are just a few of the elite universities offering courses in cryptocurrencies and blockchain.

Regulation

France To Create Legal Framework For Cryptocurrency Offerings

Reuters Staff – Reuters

France plans to create a legal framework for raising funds via cryptocurrencies and aims to become a leading center for offerings in bitcoin-style digital currencies, its finance minister wrote on a news website.

FAO: I think they had it prepared for the G20 meeting. I recall (check here) France and Germany having previously announced that they would propose rules for the cryptoverse.

SEC Considers Equities Rules For Crypto

Rob Daly – Markets  Media

The US Securities and Exchange Commission is mulling how much of an equities-like regulatory framework it should overlay on the cryptocurrencies and ICO markets.

FAO: Surprised? Not at all. It’s definitely much easier to classify cryptos as assets and comply with various aspects of existent rules than to write new rules and regs. This is the path we’re going.

U.S. Plans To Cut Funding For Bitcoin Futures Watchdog

Benjamin Bain – Bloomberg (subscription)

As Bitcoin surges in popularity, global regulators have increasingly sounded alarms that crypto investments are susceptible to fraud, theft or even worse. U.S. lawmakers seem less concerned, as they are about to cut the funding of an agency that just took on the responsibility of policing Bitcoin futures.

Events

March 28, Istanbul – our Publisher and Editor-in-chief, Florin Oprea, will speak about Crypto assets, Crypto funds, Crypto trading & ICOs @KOOP – the fintech hub – more details about the event here. Register for free.

Analysis

February’s Market Jitters Should Be Seen As A ‘Wake-Up Call’: Credit Suisse

Saheli Roy Choudhury & Akiko Fujita – CNBC 

Investors should see February’s market jitters as a wake-up call that some risks still exist in an otherwise strong economy, according to Credit Suisse’s global chief investment officer.

Could Bitcoin And Gold Benefit From Weakness In The Stock Market?

Charles Bovaird – Forbes

Stocks have encountered some notable volatility lately, with the benchmark S&P 500 Index suffering a correction last month and experiencing further weakness in March.The major stock indices – specifically the S&P 500 and the Dow Jones Industrial Average – have not fallen in to a bear market yet.

FAO: Also, check our opinion on recent market volatility and what this could mean for the future of the “cryptoverse”. We first published it on Linkedin Pulse on Feb 13th, and you can also read it on Global Association of Risk Professionals’ website!

Other news

JPMorgan Mulls Spin-Off Of Blockchain Project Quorum: Sources

Anna Irrera – Reuters 

JPMorgan is considering a spin-off of its marquee blockchain project Quorum believing independence from the bank could increase the platform’s appeal, sources familiar with the matter said.

FAO: Maybe a spin-off would make people forget about JPMorgan’s boss Jamie Dimon anti-bitcoin remarks…

 

US Marshals Office Auctions Off Another $18.7M In Bitcoin

Nikhilesh De   – CoinDesk

The U.S. Marshals Office successfully sold 2,170.7 bitcoins to two bidders in its most recent auction on March 9, a spokesperson announced. The spokesperson said that the bitcoins had been distributed to the winning bidders, one of whom received 2,100 and the other who bought the remaining 70.7.

Opinion

Where Could Bitcoin Succeed As A Currency? In A Failed State

Wired

In the US, bitcoin is primarily a speculative investment, whose soaring price has been compared to a bubble. But in Venezuela, where inflation topped 2,616 % last year, cryptocurrency is a way around restrictions on holding foreign currency, and in some cases, a means of survival.

Bitcoin’s Underlying Blockchain Can ‘Reshape Civilization’: Overstock.com CEO Patrick Byrne

Fox Business

Blockchain has great promise as an agent of change, according to Patrick Byrne, CEO of Overstock.com

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News