Blockchain Daily News – Edition 216, 24.05.2018
May 24, 2018
Blockchain Daily News – Edition 218, 29.05.2018
May 29, 2018

Blockchain Daily News – Edition 217, 25.05.2018

Time for your daily blockchain dosis brought to you by Editor-in-chief Florin Adrian Oprea (FAO) & Editor Decebal Nicolaie Todarita (DNT)! 6 hours of our work for 6 minutes of your time! We have read the Blockchain news for you, so scroll down to read the best daily newsletter in this industry!

Keep in close contact:

– install the DIGI CAP NEWS mobile app for Android – here and for iOS – here

– follow our Blockchain Daily News FREE ARCHIVE

– follow our social media profiles on Facebook, Twitter and Linkedin

– join the DIGI CAP NEWS community on our Facebook, Linkedin & Telegram groups

Fans’ Section

Bitcoin’s Big Cleanup

Lionel Laurent – Bloomberg (subscription)

Bitcoin and other cryptocurrencies make up just a tiny slice of the global economy. But that doesn’t mean regulators can ignore the wave of scams, fraud and market manipulation designed to snare gullible punters. With U.S. law enforcers now probing trading practices such as “spoofing” — illegal and aggressive order cancellations designed to move markets — this looks very much like the beginning of a sustained crypto cleanup.

Probe Into Bitcoin Price Manipulation Probably ‘A Good Thing’, Novogratz Says

Camila Russo – Bloomberg (subscription)

Major cryptocurrency proponents seemed unfazed by news the Department of Justice has started a criminal probe into potential trading manipulation. Billionaire investor Mike Novogratz said he’s not surprised by the allegations and welcomes the investigation, a sentiment echoed by Cameron Winklevoss, president of crypto exchange Gemini. Wall Street’s biggest Bitcoin bull praised the move as the start of needed regulatory oversight.

FAO: We concur…

5 Of The Most Ridiculous Blockchain Use Cases, According To Blockchain Experts

The Next Web

DNT: The story brings us “the most unorthodox undertakings you might have seen on the blockchain”.

Deals & Investments

About $1.2 Billion In Cryptocurrency Stolen Since 2017: Cybercrime Group

Gertrude Chavez-Dreyfuss – Reuters

Criminals have stolen about $1.2 billion in cryptocurrencies since the beginning of 2017, as bitcoin’s popularity and the emergence of more than 1,500 digital tokens have put the spotlight on the unregulated sector, according to estimates from the Anti-Phishing Working Group.

Exchanges & Trading Venues

One Of The Biggest Crypto Exchanges Is Heading To The Caribbean

Matthew Leising, Lily Katz & Yalixa Rivera – Bloomberg (subscription)

Bitfinex has been a particular mystery in the crypto world. It was dumped early last year by Wells Fargo & Co. and since then it’s been a secret how the exchange could transfer fiat money, still the lifeblood of global finance, without a bank. According to three people with knowledge of the matter, Noble Bank International, based in San Juan, Puerto Rico, took over banking duties for Bitfinex last year.

FAO: “According to three people”? Is that enough? Sorry but is Bitfinex even audited? (better check this February Medium piece) If you know the answer please share it via our Facebook, Linkedin & Telegram groups

Cryptocurrencies

Every Cryptocurrency’s Nightmare Scenario Is Happening To Bitcoin Gold

Joon Ian Wong – Quartz

In recent days the nightmare scenario for any cryptocurrency is playing out for Bitcoin Gold, as an attacker has taken control of its blockchain and proceeded to defraud cryptocurrency exchanges.

FAO: We need rules and regs to avoid stunts like this and like the ones listed below…

Here Are The Biggest Hacks And Scams In Cryptocurrency History

Aaron Hankin – Market Watch

DNT: The story provides a chart on the biggest hacks in crypto history – a phenomenon that continues to threat the cryptoverse.

The Record-Breaking $152 Million Battle Over Blockchain Betting Tool Augur

Marc Hochstein & Ada Hui    

In a civil lawsuit, Matthew Liston, 26, has taken four Augur associates to court, alleging that they committed fraud, breach of contract, and trade theft in connection with conflicts that arose out of Liston’s termination from the company and his stake in Augur’s token distribution, leaving him empty-handed.

DNT: According to the story, in 2015 Augur, a prediction market system that runs on the ethereum blockchain, held one of the first ICOs, long before the funding mechanism gained mainstream momentum and raised over $5 million for the project.

Vendors

Weiss Rating Agency: Cryptocurrency Is More Trustworthy Than Banks

Simon Golstein – Finance Magnates

Martin D. Weiss and Juan M. Villaverde, writing in Weiss Cryptocurrency Ratings, argue that legislative changes being made by the current US government demonstrate that the eventual usurping of the banking system by cryptocurrency is an inevitability.

BitPeople

Ethereum’s Vitalik Buterin Receives An Offer to Join Google’s Mysterious Blockchain Project

Bhushan Akolkar – Coinspeaker

Founder of Ethereum – Vitalik Buterin has been recently approached by Google with a proposition to join the company and help the tech giant in their mysterious blockchain project

Vitalik Buterin created an opinion poll trying to decide whether take an offer and join Google’s team or stay at Ethereum. The majority backs the second alternative.

FAO: Was this a popularity test?

A Crypto Stunt Gone Tragically Wrong

Jemima Kelly & Alexandra Scaggs – FT Alphaville (subscription)

The human toll of cryptocurrency scams are all too easily overshadowed by the industry’s excesses. But a line was crossed this month, when a self-described “publicity stunt” apparently led to a man’s death.

Via CCN – Crypto Exchange Kraken Hires Bush Administration Prosecutor Mary Beth Buchanan as General Counsel

DNT: Mary Beth Buchanan was the first woman and youngest-ever person appointed US Attorney for the Western District of Pennsylvania, as the story informs.

Sponsors

Want your banners, press releases, event details or news published in Blockchain Daily News? Send us your queries here.

Latest Developments & Agreements

German Bank And Steel Conglomerate Execute Forex Transaction Via Blockchain

Veronika Rinecker – Cointelegraph

Commerzbank and Thyssenkrupp have completed a €500,000 pilot transaction of a forex  forward on a blockchain. The EUR/PLN forward deal with a one month tenor was initiated by Thyssenkrupp on the Commerzbank’s FX Live Trader platform The transaction was then confirmed directly through Corda, a DLT of the R3 blockchain consortium.

China’s Taxman Is Going After Fake Caims With Tencent Blockchain Invoices

Iris Deng – SCMP

For unscrupulous businesses attempting to take advantage of tax loopholes in China, the sellers of fake receipts on the mainland usually know the way.

Power Trading Among Neighbours Per Blockchain: Innogy And Conjoule Make It Possible

ACN Newswire

The energy provider innogy and the startup Conjoule are focusing on digitization and are jointly launching the “Community Network” future project in Mulheim an der Ruhr. Conjoule’s community network platform, designed specifically for this purpose, allows owners of private photovoltaic systems and neighborhood consumers to share renewable energy.

FAO: Here’s a project announcement crossing our desk…we thought it was worth sharing.

Regulation

Crypto Money Is a Token, Not a Currency, South Africa’s Central Bank Says

Amogelang Mbatha, Ntando Thukwana & Odwa Mjo – Bloomberg (subscription)

South Africa’s central bank chooses to call digital currencies such as Bitcoin “cyber-tokens” because they don’t meet the requirements to be classified as money. “We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value,” Reserve Bank Deputy Governor Francois Groepe said.

FAO: Ok, so it’s not money in South Africa. What is a “cyber-token” then, legally speaking?

India Seeks 18% Tax On Cryptocurrency Sales In Potential Legitimacy Push

Bitcoinist

India is considering applying a tax to cryptocurrency trading in a move which could mark a step towards its legitimacy in the country.

FAO: Aha! Why ban it (if RBI’s recent action could even be considered a ban) when they can collect taxes?

Reserve Bank Of Zimbabwe Sued For Banning Cryptocurrency

Bitcoinist

The Reserve Bank of Zimbabwe is facing a lawsuit from Golix – a cryptocurrency exchange in the African country, following the RBZ’s recent order to all registered financial institutions to stop all forms of cryptocurrency trading. The central bank also instructed cryptocurrency exchanges to shut down their operations.

DNT: Golix is the largest cryptocurrency exchange in Zimbabwe.

Accelerators & Hubs

Crypto In The City: Does NYC Have What It Takes To Become A Blockchain Hub?

Rachel McIntosh – Finance Magnates

The New York City Economic Development Corporation announced the launch of the Blockchain Resource Center and a competition for blockchain-based apps to improve the public sector. NYCEDC CEO James Patchett said that there is “no city in the world that’s better positioned to lead the way in blockchain” than NYC.

Spain: Barcelona To Create Blockchain Center In City’s Tech Hub

Molly Jane Zuckerman – Cointelegraph

Barcelona Tech City will create a specialized space for blockchain technology development, local news outlet La Vanguardia reports (Ed. note – link in Spanish).

Associations & Federations

EY Joins Singapore’s Blockchain Association

Finews

Global consulting firm EY is now a corporate member of Singapore’s blockchain industry association Access. EY wants to support the local blockchain community as they develop solutions and services for multiple sectors.

Events

18-19 June 2018, New Delhi, India – our Publisher and Editor-in-chief, Florin Adrian Oprea (FAO), is invited to speak at the 6th Annual Meeting of The Growth Net, 18-19 June 2018, at the Taj Diplomatic Enclave, New Delhi, India. Join him for a constructive debate about the impact of blockchain technology beyond the use of cryptocurrencies. Being a reader of our daily publications you now have the opportunity of buying discounted tickets – more HERE (do note that a significant discount is applied!).

***

25-29 June 2018, Frankfurt, Germany –  Blockchain Daily News, is a Media Partner of Crypto Startup School, a summer school jointly organized by The Frankfurt School Blockchain Center and the German Tech Entrepreneurship Center. The event will take place from 25th – 29th of June 2018 on the campus of the Frankfurt School of Finance and Management.

Tickets can be purchased HERE and because you are a reader of our daily publications, you can use this voucher code NEWS-BCA-CSS2018 for a 10% discount.

Other news

How To Get Blockchains To Talk To Each Other

Mike Orcutt – Technology Review

Blockchains, it’s often said, will open the door to a new global financial system that works like the internet, except instead of moving around little packets of information, it moves money. But there’s a big problem with all that: at the moment, blockchains don’t talk to each other.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News