Blockchain Daily News – Edition 217, 25.05.2018
May 25, 2018
Blockchain Daily News – Edition 219, 30.05.2018
May 30, 2018

Blockchain Daily News – Edition 218, 29.05.2018

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 (STILL FREE) daily newsletter in this industry!

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Fans’ Section

Billionaire VC Raps About Crypto At Amsterdam Conference

Justina Lee – Bloomberg (subscription)

Tim Draper busted a Bitcoin rhyme. The billionaire venture capitalist and Bitcoin enthusiast ended an on-stage interview at a technology conference in Amsterdam by singing — and rapping — a song about cryptocurrencies.

DNT: Yo, all the bitcoiners in the house…Tim Draper is rapping “We want a new world order/we want to pay across the border,” … “I just wanna be a Hodler on my Bitcoin hustle,”…

FAO: Nice PR…it was worth sharing…

Chairman Mao Stunt Backfires At Blockchain Conference In China

Reuters Staff – Reuters

A publicity stunt featuring a Mao Zedong lookalike at a conference on blockchain in China o sparked an uproar on social media, with some users saying the “shameful” disrespect to the founding leader could hurt the industry’s image. Dressed in a grey Mao suit and speaking in an accent from Mao’s birth province of Hunan, an actor told the audience at the 2018 Boao Asia Blockchain Conference that he wished the event a success.

FAO: Meanwhile in China, a total different kind of PR…

Deals & Investments

Tron’s Justin Sun Reportedly Close To Buying Bittorrent

Bitcoinist

Days ahead of its high-profile mainnet launch, controversial cryptocurrency company TRON is reportedly finalizing its acquisition of BitTorrent. According to TorrentFreak, TRON founder Justin Sun is close to acquiring BitTorrent with both parties reportedly in the process of finalizing the details.

FAO: Latest developments before the mainnet launch in a really “bloody” market condition. Check the markets – via coinmarketcap.com. TRON is down more than 24% in the last seven days.

Saddle Up: Institutional Investors Are Coming To Crypto

Gerelyn Terzo – Hacked

If institutional capital is what the cryptocurrency market needs to hoist it over the edge, the tide could be about to turn. Several signs are pointing toward the increased institutional adoption of cryptocurrencies, including the number of banks flocking to the blockchain as well as leading U.S. bitcoin exchange Coinbase’s next phase of growth, which according to reports involves targeting Wall Street.

FAO: Yes, this is happening.

Exchanges & Trading Venues

Can The Biggest U.S. Bitcoin Exchange Win Over Wall Street?

Alexander Osipovich – The Wall Street Journal

Coinbase did more than any other company to bring U.S. retail investors into digital currencies—and left many feeling burned as bitcoin crashed, plunging about 60% since December. Now, it’s looking for new customers.

FAO: Considering their development strategy and actions, they have all chances to survive the moment when the big exchange players will enter the “cryptoverse”.

South Korean Exchange Bithumb Blocks Trading In 11 Countries

Kevin Helms – Bitcoin.com

South Korea’s largest cryptocurrency exchange Bithumb has announced that it will block trading in 11 countries as part of its revised internal regulations aimed to prevent money laundering using its system. Foreign users will also need to undergo a stricter verification process.

FAO: A very good thing! We need a safe and mature “cryptoverse”! And it seems Bithumb is not the only crypto exchange to change its approach towards unverified accounts…

Poloniex Crypto Exchange Users Claim Accounts ‘Frozen’ After ID Policy Update

William Suberg – Cointelegraph

Users of cryptocurrency exchange Poloniex were making complaints about account “freezes” after completing mandatory new identity verification procedures. Account holders on social media claim that after confirming their identity, they receive notification that they may now continue trading, but their previously-functional account is now blocked.

DNT: Seems that the problems began the same day the exchange issued notice to users demanding they link their identitity with their account, the story also informs.

BTCC To ‘Relaunch’ Cryptocurrency Exchange This Summer

Aziz Abdel-Qader – Finextra

The BTCC Bitcoin exchange, formerly known as BTC China, is soon launching a ‘new upgraded exchange’ that will allow for the exchange of ‎cryptocurrencies at an international level.‎ The official statement revealed that the company’s plans to start its cryptocurrency exchange would come true this summer.‎

FAO: Founded in China in 2011, BTCC was acquired by a Hong Kong-based blockchain investment fund in January for an undisclosed amount.

Cryptocurrencies

South Africa Investigates $80 Million Bitcoin Scam

Reuters Staff – Reuters

South African authorities are investigating an alleged cryptocurrency scam that defrauded investors of 1 billion rand ($80 million) with promises of huge returns that never materialized, police said.

FAO: Yet another “too good to be true” example. Apparently a company named BTC Global told clients they would earn 2% per day, 14% a week and 50% in a month. An opportunity better to be missed!

Vendors

No Miners? Intel Seeks To Automate DLT Block Verification

Nikhilesh De – CoinDesk

Intel is looking to protect a novel way to verify transactions on a distributed ledger.

In a filing released by the U.S. Patent and Trademark Office, the company outlines a method by which it would partition and update distributed ledgers automatically, with a processor able to independently verify that new blocks are valid and able to be attached to the ledger.

A New Twist On Lightning Tech Could Be Coming Soon To Bitcoin

Alyssa Hertig  – CoinDesk

Bitcoin’s lightning network may be just starting to send transactions over the blockchain, but already its developers are looking to rearchitect the technology. That’s because, while touted as a way to significantly boost bitcoin’s capacity, the network itself does require users to store a significant amount of data, which makes it difficult to download and run.

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Latest Developments & Agreements

IHS Markit Has A Plan To Tokenize A $1 Trillion Loan Market

Ian Allison – CoinDesk

There’s a lot of talk in the financial world these days about putting cash (the fiat kind) on distributed ledgers, but little action beyond proofs-of-concept. That may soon change as IHS Markit is developing a new blockchain-based system to handle the payments leg of syndicated loan trading – and eventually, a wider range of financial transactions.

700 Tokens & 1090 dApps Launched on Ethereum Network in 2017

Simon Golstein – Finance Magnates

Approximately 100,000 new users join the network daily, and around one million transactions are processed per day. As of now, there are 29.2 million unique Ethereum addresses.

Regulation

Gibraltar Is Rolling Out the Red Carpet For Crypto Firms

Viren Vaghela – Bloomberg (subscription)

FAO: More and more crypto businesses are stepping away from Asia and head to much more friendlier jurisdictions like Gibraltar, Malta and Bermuda…

London Police Seize Bitcoin Worth $667,000 From Hacker

Bloomberg (subscription)

Cybercrime detectives seized the bitcoin from Grant West, 26, who was sentenced to 10 years and 8 months in prison for attacking some 100 companies worldwide, largely using ‘phishing’ email scams to obtain the financial data.

FCA Probes Dozens Of Cryptocurrency Businesses

Financial Times (subscription)

Accelerators & Hubs

London Remains Wary Of Jumping On Crypto Bandwagon

Financial Times (subscription)

FAO: Is it because of the famous British conservatism?

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, GermanyBlockchain 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.

Analysis

Blockchain Projects Live a Little Over A Year On Average, China Claims

Lubomir Tassev – Bitcoin.com

The majority of blockchain projects have a short life span, averaging a little over one year, according to a report by Chinese researchers. Less than a tenth of the examined projects in the study are still active, a local official revealed at a big data expo in the city of Guizhou. Beijing, however, has recently taken steps to speed up efforts in blockchain-oriented research and development.   

Other news

How Wired  Lost $100,000 In Bitcoin

Wired

Back in 2013 when you could still mine bitcoins at home, WIRED was sent a small, sleek mining device manufactured by the now-defunct Butterfly Labs. We turned on the Roku-looking machine in our San Francisco offices and allowed it to do its job. A small fortune was soon amassed, now worth around $100,000. Then, we lost the money. Forever.

Opinion

The Jabberwocky World Of Bitcoin

Kate Burgess – Financial Times (subscription)

Small Talk followed Clear Leisure, a small Aim-listed company, into the Jabberwocky world of bitcoin where words — whether hash, sat or shilling — have entirely new meanings. In cryptocurrency land, a nonce is apparently a 32-bit field rather than a category of prisoner. Hodl is not a fatfinger typo but advice to hold on for dear life, sat is a millionth of a bitcoin and shilling is trickery.

Stop Trying To Reinvent The Monetary Wheel With Bitcoin

Robert Skidelsky – Financial News (subscription)

Slumps have always been boom times for monetary experiments, and the economic collapse of 2008-2009 was no different.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News