Blockchain Daily News – Edition 246, 09.07.2018
July 9, 2018
Blockchain Daily News – Edition 248, 11.07.2018
July 11, 2018

Blockchain Daily News – Edition 247, 10.07.2018

Today’s Highlights: MyEtherWallet suffered a serious security issue, UK Watchdog welcomes first crypto startups to regulatory sandbox, Czech Firm Benson Oak revealed $100 Mln venture fund for Israeli startups, Ethereum-based blockchain betting platform Augur was launched & floating city with its own cryptocurrency is not SF anymore.

Editors’ thoughts today:

Editor-in-chief Florin Adrian Oprea (FAO): Our friends at GMEX GROUP informed us that GMEX Market Advancement Programme (MAP) and Fusion, their hybrid centralised and distributed Blockchain enabled exchange trading and post trade solution have well and truly taken off during this quarter. Happy to hear about that since they are currently spearheading with their new line of tech. Found out more about their latest joint ventures and deals – on their website.

Editor Decebal Nicolaie Todarita (DNT): Today’s edition convinced me of one thing: we are privileged to live the future. The change that cryptoverse and blockchain brought to our world is irreversible. But we have to do one thing: understand it and use it carefully, for a better future of humanity.

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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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Breaking News

Popular Crypto Service MyEtherWallet Hit By Attack After Hola VPN Gets Hacked

Jon Russell – TechCrunch

MyEtherWallet, one of the internet’s most popular services for managing cryptocurrencies, suffered a serious security issue for the second time this year after a widely-used VPN service was compromised for five hours.

Decentralized Crypto Exchange Bancor Reports ‘Security Breach,’ Remains Down For ‘Maintenance’

William Suberg – Cointelegraph

Decentralized cryptocurrency platform Bancor halted operations Monday, July 9, as it investigates what it calls a “security breach,” reportedly involving over $12 mln.

A Twitter post confirmed the breach and Bancor’s halted operations, which the platform says is specifically to allow investigative work prior to a full statement being released “shortly.”

Deals & Investments

Filings Link Crypto Exchange Bitstamp To Game Maker Nexon

Stan Higgins  – CoinDesk

Public filings released in late May establish the strongest link yet between Bitstamp and Korean gaming firm Nexon, which was rumored to have bought the cryptocurrency exchange earlier this year.Those rumors date back to the spring when sources indicated that Nexon would pay as much as $500 million for Bitstamp, one of the industry’s longest-running bitcoin exchanges.

Czech Firm Benson Oak Reveals $100 Mln Venture Fund For Israeli Startups With ‘Emphasis’ On Blockchain

William Suberg – Cointelegraph

Investment banking firm Benson Oak revealed it would pump “around $100 mln” into Israel-based startups with an “emphasis” on blockchain, local Israeli news outlet the Jerusalem Post reported. The Czech-headquartered giant’s subsidiary Benson Oak Ventures will focus specifically on the Israeli market.

Oasis Labs Raises $45 Million For ‘Privacy First’ Cloud On Blockchain

Dean Takahashi – VentureBeat

Oasis Labs has raised $45 million to build a “privacy-first” cloud computing platform with blockchain technology. Oasis Labs is designing a platform to overcome the performance, security, and privacy limitations that have hampered blockchain adoption to date. The aim is to make blockchain, a distributed secure ledger that powers cryptocurrencies such as Ethereum, more useful to a broader set of companies.

Cryptocurrency Funds Want To Branch Out But Held Back

Rick Baert – Pensions & Investments

Newly developed cryptocurrency index funds are targeting institutional asset owners such as pension funds and endowments, but the lack of custody capabilities in the asset class is keeping these investors from jumping in.

Exchanges & Trading Venues

Chinese Yuan Now Accounts For Less Than 1% of Bitcoin Trades, Says PBoC Report

Marie Huillet – Cointelegraph

China Brags Its Cryptocurrency Ban Has Practically Killed Local Bitcoin Trading

David Canellis – The Next Web

China’s central bank has hailed it’s cryptocurrency crackdown a complete success. Declared by the People’s Bank of China and reported by state media, data apparently shows that the Chinese currency is now involved in less than one percent of all Bitcoin trades worldwide.

Philippine Central Bank Approves Two New Cryptocurrency Exchanges

CCN

The Bangko Sentral ng Pilipinas has approved the accreditation of two new virtual currency exchanges, bringing the total number of regulated crypto exchanges in the country to five.

In a statement released by Deputy Governor Chuchi G. Fonacier, the BSP announced that it has granted operating approval to Virtual Currency Philippines, Inc. and ETranss to carry out conversion of Philippine pesos into virtual digital currencies.

StellarX: First free, Decentralised And Complete Stellar Exchange To Launch

Finder

The catch is a lot of excitingly awful coins, and that the no-fee part is a matter of faith.

With what has turned out to be a good deal of foresight, Stellar Lumens always planned to have a completely open decentralised exchange, the SDEX as it’s known.

Open Mineral, ConsenSys To Build Blockchain Consortium of (Mineral) Mining Companies

Anatol Antonovici – Cryptovest

Cloud-based metal concentrates exchange Open Mineral intends to create a consortium of mining companies (not to be confused with Bitcoin or cryptocurrency mining) and financial firms to develop a blockchain platform for minerals logistics and trading.The young Swiss-based company announced that it was collaborating with blockchain startup ConsenSys to develop Minerac, which is meant to streamline mineral trading and supply chain processes.

Ethereum-Based Blockchain Betting Platform Augur Just Launched. Here’s Why It’s Not Married To Ether

Lucinda Shen – Fortune

Once tweeted as the “Uber for knowledge by Ethereum co-founder Vitalik Buterin, Augur, a blockchain-based predictions platform was launched.

One of the earliest applications built on Ethereum, open-sourced software Augur allows users to create and make bets on anything. The team building Augur hopes to gain a competitive edge by lowering fees and allowing any user to create their own bets.

Cryptocurrencies

What’s Next For Bitcoin?

Sam Mamudi, Olga Kharif & Matthew Leising – Bloomberg (subscription)

Last year, Bitcoin led a motley pack of so-called cryptocurrencies in one of the great booms in market history, soaring over 2,000% to its peak. Since then, it’s led an epic bust that rivals the dot-com era stock market collapse. But there are still plenty of true believers. And as the dust settles, investors and regulators find themselves still grappling with questions first raised when Bitcoin broke into public consciousness five years ago: What exactly is it? How do imitators like Ethereum, Ripple’s XRP and Bitcoin Cash work? Should I buy it?

Block.One Is Taking a Bigger Role With EOS

Brady Dale – CoinDesk

Block.One has decided to start voting with its hoard of EOS tokens. The decision finds the startup that created the EOS software, now powered by the fifth most valuable cryptocurrency, breaking with precedent in a move that may have come as a surprise to those following the project’s decentralized launch.

Vendors

R3 Launches Corda Enterprise With First-Ever ‘Blockchain Firewall’

Ian Allison – CoinDesk

More than a year in the making, Corda Enterprise has arrived. Blockchain startup R3 has released a paid version of its signature open-source Corda blockchain technology, one that offers added features aimed at regulated institutions including 24/7 support, disaster recovery and more.

Sergey Brin Says Google ‘Failed To Be On The Bleeding Edge’ Of Blockchain

Chloe Aiello – CNBC

Google co-founder Sergey Brin said his company missed its chance to be at the forefront of blockchain technology.Brin suggested that the technology is within the wheelhouse of X, the company’s semi-secret research division Google X.

BitPeople

The London School Of Cryptonomics

Jemima Kelly – FT Alphaville (subscription)

The London School of Economics is a venerated institution that has educated some 34 heads of state and 18 Nobel laureates, with a star-studded alumni directory that includes John F. Kennedy, Bertrand Russell, and Friedrich von Hayek.Now, LSE appears to be lending its considerable prestige to the world of crypto trading, with a new online course entitled “Cryptocurrency Investment and Disruption”.

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Latest Developments & Agreements

Bitcoin Will Replace Traditional Currency ‘Within A Decade’

The Independent

Bitcoin and other cryptocurrencies are the logical “next step” for money and are close to becoming a mainstream form of payment, according to a new study. Researchers from Imperial College London and the trading platform eToro assessed the fundamental roles of traditional currency and measured how close cryptocurrency had come to fulfilling these.

ICBC, World’s Largest Bank Eyes Faster Asset Exchange With Blockchain

Wolfie Zhao  – CoinDesk

The Industrial and Commercial Bank of China , one of China’s “Big Four” state-owned commercial banks and one of the world’s largest by total assets, is seeking to patent a blockchain system for the exchange of financial assets.According to a patent application the system envisions a platform whereby participating institutions can function as nodes to form a distributed network.

Regulation

Is Crypto Going Mainstream?

Caroline Binham – Financial Times (subscription)

UK Watchdog Welcomes First Crypto Startups To Regulatory Sandbox

Muyao Shen – CoinDesk

For the first time, the U.K.’s financial regulator is directly recognizing the potential of blockchain-related startups.For the latest and fourth cohort of startups for its regulatory “sandbox,” the country’s Financial Conduct Authority has given access to 11 blockchain and distributed ledger technology-related companies – almost 40% of the 29 accepted.The regulator received 69 applicants in total, of which 40 did not make the group, according to an FCA announcement.

DNT: That’s indeed a milestone for cryptos! Despite the continuous attacks from various (big)names, looks like the cryptoverse is expanding. I’m looking forward to the next step.

China Banking And Insurance Regulatory Commission. Warns Against ‘Mythologising’ Blockchain Technology

Zheping Huang – SCMP

A top Chinese regulator has acknowledged the innovative aspects of blockchain but warned against “mythologising” the technology behind cryptocurrencies, echoing the government’s mixed feelings about the booming but shadowy sector. “We all think blockchain is an innovation with significant meaning – correct. But we shouldn’t mythologise blockchain,” said Fan Wenzhong, head of the international department of the China Banking and Insurance Regulatory Commission.

Accelerators & Hubs

Turkey’s Turkcell Joins Blockchain Consortium CBSG

Anatol Antonovici – Cryptovest

Turkcell, a leading mobile network operator in Turkey, announced that it has joined the blockchain consortium Carrier Blockchain Study Group.

Events

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Analysis

Half Of ICOs Die Within Four Months After Token Sales Finalized

Olga Kharif – Bloomberg (subscription)

About 56% of crypto startups that raise money through token sales die within four months of their ICOs.

Maybe This Trend Really Is Your Friend When It Comes To Bitcoin

Olivia Schaber – Bloomberg (subscription)

This technical indicator may show the world’s largest cryptocurrency is bucking a selling trend and gearing up for a price increase.

DNT: So, the old and quite largely accepted saying “the trend is your friend”, doesn’t necessarily work on cryptos? Good to know!

Other news

Floating City With Its Cryptocurrency Is Not Science Fiction Anymore

Tanya Chepkova – Cryptovest

Ten years ago Peter Thiel co-founded a non-profit organization called Seasteading Institute and invested money in a venture that can become the biggest city on a seaborne platform.

In May 2018, the pilot project went into the active construction phase following an agreement signed with French Polynesia’s government. The company behind the project plans build 300 houses, set its own government and launch a cryptocurrency called Varyon – all by 2022.

DNT: That’s mind-blowing! Not all the generations have the privilege to actually live the futures. I say we should be glad that we can witness the change of humanity at this big scale.

Opinion

Nobel-Winning Economist Joseph Stiglitz : Authorities Will Bring Down ‘Hammer’ On Bitcoin

Ali Montag – CNBC

“You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system,” Joseph Stiglitz said. “If you open up a hole like bitcoin, then all the nefarious activity will go through that hole, and no government can allow that.”…“Once it becomes significant they will use the hammer.”

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News