Blockchain Daily News – Edition 227, 12.06.2018
June 12, 2018
Blockchain Daily News – Edition 229, 14.06.2018
June 14, 2018

Blockchain Daily News – Edition 228, 13.06.2018

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

Bitcoin’s Collapse Accelerates, Falls To Lowest Since February

Janine Wolf & Olga Kharif – Bloomberg (subscription)

Bitcoin Sinks To Two-Month Low As Downtrend Persists

Gertrude Chavez-Dreyfuss – Reuters

Bitcoin fell to a two-month low on Tuesday, sliding in three of the last four sessions on nagging regulatory and security concerns after the weekend hacking of South Korean cryptocurrency exchange Coinrail.

FAO: No more HODL? At time of writing 1 BTC= 6465.58 $, via coinmarketcap.com.

Coinbase Opens Its Crypto Index Fund To Accredited U.S. Investors

Jon Russell – TechCrunch

Fresh from revealing plans to add Ethereum Classic to its exchange, crypto giant Coinbase  announced that its cryptocurrency index fund — first revealed in March — is open to investors in the U.S..

DNT: Coinbase announced the launch of its first-ever index fund in March – details here, Exchanges & Trading Venues section. Check also our yesterday’s edition (Cryptocurrencies section), for details regarding the plans to add Ethereum Classic.

FAO: Game on for the big money in the “cryptoverse”. After checking today’s prices we could say accredited U.S. investors have, luckily or not, a very good opportunity to join the game!

Deals & Investments

Financial Services Industry Spends $1.7 Billion On Blockchain

Janine Wolf – Bloomberg

The industry spends about $1.7 billion annually on the distributed ledgers that are best known for underpinning digital currencies, according to researcher Greenwich Associates. Banks and other companies are moving beyond the proof-of-concept stage to commercial distributed ledger technology products, the report said.

Exchanges & Trading Venues

What People Are Saying About Coinbase’s Surprise ETC Listing

Muyao Shen – CoinDesk

Surprise? That might sum up the reaction among some members of the crypto community when U.S.-based exchange startup Coinbase suddenly announced its plans to list ethereum classic.

FAO: Of course it was a surprise. It has surprised us too, and we are reading and analyzing the crypto news every day… What do you think? Speak your mind on our Linkedin group. Speak your mind first on the topic, and we will send you 10 USD! Not much, but you can buy 1 EOS at today’s prices….just saying.

Colombian Crypto-Exchange Buda.com, To Confront Banks For Closed Accounts

Daniela Guzman – Bloomberg (subscription)

Buda.com, slammed regulators in the South American nation after three banks shuttered its accounts without notice. The crypto-to-crypto platform, which has about 35,000 accounts in Colombia and a total of 45,000 more in Peru, Argentina and Chile, is preparing action to recover the accounts closed by Banco Bilbao Vizcaya Argentaria, Davivienda and Bancolombia.

FAO: The latest developments in the “soon to become” Latin American soap opera…more about this yesterday.

Cryptocurrencies

Inside The Chaotic Launch Of A $4 Billion Crypto Project

Paul Vigna – The Wall Street Journal (subscription)

More than 200 volunteer developers working to launch EOS spent a fraught three hours on a conference arguing about issues related to the platform’s launch.

FAO: Will EOS manage to deliver its promises and fulfil its destiny? We shall but see…

Hacking Will Make Bitcoin, Ethereum, And Ripple Stronger

Panos Mourdoukoutas – Forbes

Hacking will cool off the hype for Bitcoin, Ethereum, XRP and other cryptocurrencies in the short-run, but in the long-run, it will make them stronger. Hacking of cryptocurrency exchanges has always been a scary thing for cryptocurrency investors. It sounds like a run on the bank back in the old days when there was no central bank to guarantee deposits.

Vendors

Blockchain Consortium R3 CEO David Rutter Blasts Rumours Of Financial Woes

Hayley McDowell – Global Custodian

R3 chief David Rutter hits back at ‘false rumours’ of financial troubles spread by two former employees. David Rutter said in a statement that an “inaccurate” and “negative” news article about R3 had been published, as a result of disgruntled former employees of R3 spreading false rumours.

DNT: The story about R3 financial problems came up a few weeks ago and was covered here, Vendors section.

FAO: Everything fine and dandy?

Blockchains Talking To Each Other Gives Hope To Crypto Diehards

Olga Kharif – Bloomberg (subscription)

Blockchains, probably best known for supporting sagging virtual currencies such as Bitcoin, are in many ways broken, with thousands of disparate digital ledgers unable to interact with each other. That may be about to change with scores of long-brewing projects with names like Cosmos and Metronome reaching developmental milestones, and promising to start bridging the divides.

BitPeople

What Do We Know About Valerie Szczepanik, The First Crypto Czar

Kirill Bryanov – Cointelegraph

Is creation of a SEC office designated to deal with digital assets a good or bad news for the industry? This is the question that crypto community has been mulling over following the SEC’s announcement of Valerie A. Szczepanik’s appointment to the brand new position of Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman.

DNT: Read about Valerie Szczepanik’s appointment as the new SEC senior advisor for digital assets and innovations here, BitPeople Section. SEC chairman, Jay Clayton called Valerie Szczepanik “the right person to coordinate our efforts in this dynamic area that has both promise and risk.”

Sponsors

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Latest Developments & Agreements

FAO: A plethora of stories regarding the impact blockchain is having in traditional finance, and a few others sectors too…

Korean Banks Can Use Blockchain To Verify Customer IDs From July

Wolfie Zhao – CoinDesk  

A national banking group in South Korea is to roll out a blockchain-based ID verification system for domestic commercial banks in just weeks. According to a notice revealed by the Korea Federation of Banks , the new system – dubbed BankSign – is scheduled to be launched in July following a testing phase that began in April of this year.

FAO: BankSign is built on top of Nexledger, a private blockchain platform developed by Samsung’s enterprise solution division.

Insurers Make A Bet On Blockchain

Astrid Dörner & Grace Dobush – Handelsblatt Global

The traditionally risk-averse insurance industry is banding together to explore the cost-saving possibilities of integrating blockchain into their policies.

FAO: 13 insurance companies formed the industry consortium B3i Services AG – more about it here.

Russian Gov’t, Corporate Giants Form Joint Venture To Develop In Blockchain, IoT

Molly Jane Zuckerman – Cointelegraph

Russian telecom company MegaFon, Gazprombank, government corporation Rostec, and the USM Group have created a joint venture – referred to as MF Technologies – that is worth $450 mln and has a 59% stake in Russian Internet giant mail.ru.

LG, Government Mint To Launch South Korea’s ‘First Public Blockchain Platform’

CCN

LG CNS, the IT subsidiary of electronics giant LG, has been handpicked by South Korea’s minting corporation to establish a blockchain platform for the public sector to provide a number of services including issuing a community token to the masses.

Regulation

Financial Crime Task Force Eyeing Binding Crypto Exchange Rules: Japan Official

Takahiko Wada – Reuters

International financial crime-fighting group Financial Action Task Force will start discussions later this month on introducing binding rules governing cryptocurrency exchanges, a Japanese government official familiar with the matter said.

FAO: Good! The “cryptoverse” will be a much more safer and attractive place to invest.

India’s Central Bank Stays Mum On Crypto Ban Reasoning

Anna Baydakova – Coindesk

The Reserve Bank of India has responded to a query about why it moved to block banks from dealing with cryptocurrency businesses earlier this year – but the reply isn’t very telling.

FAO: I will try to find some answers as I will be attending the 6th Annual Meeting of The Growth Net, 18-19 June 2018, at the Taj Diplomatic Enclave, New Delhi, India. You can join me, buy your discounted tickets HERE.

Accelerators & Hubs

UK Blockchain Experiment Could Cut Customs Red Tape

Alan Beattie – Financial Times (subscription)

A business chamber in south-west England has certified an export consignment from an engineering company using blockchain. Business West said its pilot certificate of origin on blockchain, issued to Renishaw, which supplies precision devices to several industries including aerospace and healthcare, is the second such project in the world following one in Singapore.

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

No Rest For Bitcoin Traders As Wild Movements And Big Milestones Often Happen On The Weekends

Kate Rooney – CNBC

Some of the bitcoin’s steepest price swings have happened over weekends and in order to make money in this 24-hour market, traders are ready to buy or sell on a Saturday night.

FAO: Let me tell you something: computers don’t need a rest…

Other news

A ‘Crypto Shopping Mall’ Is Being Tested In Slovenia

Anna Baydakova  – CoinDesk

A major shopping center based in Slovenia is widening a cryptocurrency payments pilot.

BTC City Ljubljana, located in Slovenia’s capital of Ljubljana, will allow a group of 150 people to use cryptocurrencies at 24 businesses located in the sprawling complex, which according to online materials boasts over 500 storefronts. Those include services for clothing and electronics as well as restaurants, Slovenian TV channel “24 Ur” reported.

Opinion

Ripple CEO, Brad Garlinghouse: Bitcoin Is Controlled By China

Julie Iannuzzi – The Street

Brad Garlinghouse: “….”I’ll tell you another story that is underreported, but worth paying attention to.  Bitcoin is really controlled by China. There are four miners in China that control over 50% of Bitcoin”

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News