Blockchain Daily News – Edition 221, 04.06.2018
June 4, 2018
Blockchain Daily News – Edition 223, 06.06.2018
June 6, 2018

Blockchain Daily News – Edition 222, 05.06.2018

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

Crypto Whales Own Almost Half of Tokens From Biggest Ever ICO

Olga Kharif – Bloomberg (subscription)

Beware of the EOS whales.The top 10 holders of the digital tokens from the largest ICO ever own nearly 50% of the coins, according to tracking service Etherscan. Block.one, the private company behind the project that completed the more than $4 billion offering last week, is the biggest holder, with 10% of the total. The names of the other large holders are anonymous and could be individuals or even exchanges.

Binance’s Venture Fund Head Is Waiting For ICO Bubble To Burst

Camila Russo – Bloomberg (subscription)

Ella Zhang is in charge of investing $1 billion in blockchain-related businesses, yet her view on the market isn’t too rosy.

“We’d like the bubble to break,” said Zhang, who joined cryptocurrency trading platform Binance to lead its venture incubator Binance Labs less than two months ago. “We still see a lot of hype in the market, valuations are high and unreasonable. We really think if the bubble bursts, it’s a good thing for the industry.”

DNT: Binance , is set to launch a $1 billion fund for cryptocurrency and blockchain technology startups, as we reported in our yesterday’s edition, Deals & Investments section.

Google Searches For ‘Bitcoin’ Nosedive 75% This Year As Interest In Struggling Cryptocurrency Wanes

Kate Rooney – CNBC

Searches for the term “bitcoin” have dropped more than 75% since the beginning of this year, according to research from Google Trends.”Bitcoin needs a new narrative in order to reestablish global attention,” says Nicholas Colas, co-founder of DataTrek Research.The digital currency’s price has dropped by roughly 50% this year.

Deals & Investments

GitHub Billionaires Will Own More Microsoft Stock Than Its CEO

Tom Metcalf – Bloomberg (subscription)

Microsoft To Take On Amazon With $7.5 Billion GitHub Deal

Vibhuti Sharma – Reuters

Microsoft said it would buy privately held coding website GitHub for $7.5 billion in an all-stock deal to beef up its cloud computing business and challenge market leader Amazon. The deal is a big bet on Azure, the company’s fast-growing cloud business, as it will be able to lure more code developers who use GitHub and drive more business to Microsoft.

DNT: We reported yesterday (Deals & Investments section) that Microsoft will acquire coding site GitHub. In this follow-up, we bring also the value of the deal, according to Reuters.

Indeed, a big challenge for Amazon.

Exchanges & Trading Venues

Crypto Startup Coinbase Names Nao Kitazawa  As CEO For Japanese Subsidiary

Stan Higgins – Cointelegraph   

Leading US Crypto Exchange Coinbase To Expand To Japanese Market

Marie Huillet – Cointelegraph

Coinbase has revealed its plans to enter the Japanese crypto market, Cointelegraph Japan reported (Ed. note – link in Japanese) Coinbase intends to apply for a license with the country’s financial regulator, the Financial Services Agency “within the year,” a process that has been mandatory for all crypto exchanges operating within the country since the amendment of Japan’s Payment Services Act in April 2017.

OKEx Crypto Exchange Is Rolling Out A Token-Based ETF

Wolfie Zhao  – CoinDesk

OKEx  has rolled out a cryptocurrency exchange-traded fund.The new offering, though branded as OK06 Exchange-Traded Tracker according to an announcement, effectively represents a basket of crypto assets, the shares of which can be traded as a whole to lower transaction costs and diversify risk.

HitBTC Plans To Allow Japanese Trading Via ‘Subsidiary By  Q3 2018

Wilma Woo – Bitcoinist

HitBTC is pushing ahead with plans to establish a Japanese subsidiary after banning accounts allegedly linked with the country.HitBTC announced ia the company’s official blog that it was already “actively hiring for the local office” with the intent to “expedite the launch of the Japanese operations in Q3 2018.”

Cryptocurrencies

Cryptocurrencies Decided As Future Trading Commodity  

The Jakarta Post

Crypto Now Considered A Commodity On Indonesia’s Stock Exchange

Molly Jane Zuckerman – Cointelegraph

The Indonesian Trade Ministry’s Futures Exchange Supervisory Board has signed a decree to make cryptocurrency a commodity legally tradable on a stock exchange. According to Dharma Yoga, head of Bappebti market supervision and development bureau, the Future Exchange Supervisory Board decided to allow crypto to trade as a commodity as a result of a four month study into cryptocurrencies.

DNT: Still, Indonesia is in the Team “Against” in our Crypto-Teams BDN Global Outlook (last updated here), because the country’s central bank, Bank Indonesia, does not recognize cryptocurrencies as payment instruments. At the beginning of the year, Bank Indonesia took a firm stance against cryptocurrencies and issued a warning to the citizens regarding owning, selling or trading cryptos (details hereCryptocurrencies section). On the other hand, we’ve noticed in our yesterday’s edition that start up Pundi X  is betting that the central bank will renounce their current opposition against cryptocurrencies in as soon as three years.

Goods-To-Crypto Marketplace To Eliminate Fiat From Process Of Buying Cryptocurrencies

Connor Blenkinsop – Cointelegraph

Ubcoin Market is developing a platform which eliminates fiat money from the process of acquiring and spending cryptocurrency – with a peer-to-peer marketplace where physical goods can be bought and sold in an instant. Ubcoin Market has the ambition of becoming  “the world’s first truly efficient alternative to crypto exchanges” – harnessing the familiarity of marketplaces, such as eBay and Amazon, while removing the technical and legal hurdles associated with using and investing in cryptocurrencies.

Vendors

Our Blockchain ‘Can Run The Whole Company’, Says Mastercard Vice Chair

William Suberg – Cointelegraph

Mastercard has “built a Blockchain that can run the whole” of its network, its vice chair Ann Cairns claimed during the ongoing Money20/20 conference. Ann Cairns said the company had deliberately opted to develop a blockchain integration “at scale” while stating the need to identify “real use cases.”“You just don’t replace existing technology with blockchain because you may not create a better user experience,” she explained.

BitPeople

Matt Huang Leaving Sequoia Capital to Start Crypto Fund With Fred Ehrsam

Yuliya Chernova – The Wall Street Journal (subscription)

Coinbase Co-Founder Fred Ehrsam Teams Up With Sequoia Partner Matt Huang For New Crypto Fund

CCN

The exodus of partners and investors from venture capital firms into cryptocurrency investing has taken a new turn, as Sequoia Capital partner Matt Huang has become the latest finance industry heavyweight to make his exit. Wall Street Journal sources indicate that he is set to start a new cryptocurrency investment fund alongside Coinbase co-founder Fred Ehrsam.

Former SEC Chair Mary Jo White To Represent Ripple In XRP Lawsuit

Stan Higgins – CoinDesk   

Court records show that distributed ledger startup Ripple is being represented by two former SEC officials – including its onetime chairwoman, Mary Jo White – in an ongoing civil matter.

John McAfee Announces 2020 Presidential Bid to Serve Crypto Community

Molly Jane Zuckerman – Cointelegraph

John McAfee, founder of McAfee Antivirus Software and now prominent crypto enthusiast, announced his bid to run for US president in 2020 as a way to serve the crypto community, according to his Twitter account.

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Latest Developments & Agreements

LexisNexis Partners With Australian Crypto Exchange Blockbid To Increase Security

Helen Partz – Cointelegraph

Risk management giant LexisNexis has partnered with crypto exchange Blockbid to increase the exchanges security measures Blockbid reports on its Medium account. Blockbid is reportedly one of the first trading platforms to voluntarily observe global anti-money laundering measures by partnering with LexisNexis and ThreatMetrix security technology firms.

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

For All The Hype, Blockchain Applications Are Still Years, Even Decades Away

Evelyn Cheng – CNBC

Several analysts expect blockchain will first prove its value in supply chain management, where Cisco and IBM are both working on applying the technology.Still, industry experts project on average tht the technology will take 5.9 years to gain widespread adoption, according to a Cowen survey.

So The Crypto, Where We At?

Jamie Powell – FT Alphaville (subscription)

You’d be forgiven for thinking that all has gone a quiet on the crypto front. Since December’s giddy highs, Bitcoin and Ether, the leading lights of the cryptocurrency revolution, have shed more than half their respective values as the world tries to figure out, well, what the point of it all is. (And not just in an existential sense).

How Blockchain Investing Can Access Technology Without The Volatility Of Cryptocurrencies

Eric Ervin – Forbes

If investing in cryptocurrencies is too volatile for your tastes, consider the technology behind cryptocurrencies- blockchain technology.

Other news

Bitcoin ‘Dies’ For The 300th Time, Trading At $7,300

Helen Partz – Cointelegraph

Bitcoin has recently “died” for the 300th time, according to 99Bitcoins Bitcoin obituary list. The cryptocurrency faced its “most recent death” in the latest “obituary” provided by Forbes.

Bitcoin celebrates its 300th death anniversary following an article from Forbes. The article claims that Bitcoin’s “Achilles Heel” is the huge amount of electricity required by crypto mining operations.

DNT: According to the story, at the time of the latest “death” BTC was trading at $7,312. In December, when Bitcoin died it’s 200th death, the BTC price hit the $11,000 mark. According to 99Bitcoins stats, the major cryptocurrency “died” 62 times this year.

Ripple Donates $50 Million To Top Universities To Boost Blockchain Adoption

Kate Rooney – CNBC

Cryptocurrency and payments start-up Ripple is shelling out millions to some top schools to encourage adoption of blockchain technology.The company will give $50 million to 17 universities including the University of North Carolina at Chapel Hill, MIT and the University of Pennsylvania.The donation is in dollars and not the cryptocurrency.

Opinion

Chanos Calls Bitcoin ‘Last Thing I’d Want to Own’ In A Crisis

Will Mathis – Bloomberg (subscription)

Short seller Jim Chanos, who predicted the fall of Enron Corp., has developed a view of Bitcoin: It would fail in a crisis.

“For those who believe that you need to own digital currency as a store of value in the worst-case scenario, that’s exactly the case in which a digital currency will work the least,” he said. “The last thing I’d want to own is Bitcoin if the grid goes down.”

Crypto And Twitter: A Toxic Combination, A Troubling Future

Michael J Casey – CoinDesk

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News