Blockchain Daily News – Edition 24, 04.08.2017
August 4, 2017
Blockchain Daily News – Edition 26, 08.08.2017
August 8, 2017

Blockchain Daily News – Edition 25, 07.08.2017

Blockchain Daily News

by Florin Oprea

Edition 25, 07.08.2017

Deals, Investments & M&As

$1.6 Billion: All-Time ICO Funding Climbs As Record $500 Million Invested In July

Chuan Tian – CoinDesk

Blockchain projects have raised a total of $1.67 billion via ICOs so far – a figure that was bolstered by a record-breaking month of July, according to data from the CoinDesk ICO Tracker.

FAO: It’s the year of the ICO…no wonder it attracted everybody’s attention, including SEC (more here).

PHILIPP SANDNER, Frankfurt School Blockchain Center: This clearly indicates that ICO might be the “better” crowdfunding method and it also shows that VCs (as intermediaries) also need to think about their business model.

Filecoin Presale Raises $52 Million Ahead Of ICO Launch

Stan Higgins – CoinDesk

San Francisco-based startup Protocol Labs has sold $52 million in a token pre-sale ahead of an ICO launch next week. Notable backers of the Filecoin pre-sale include Union Square Ventures and Sequoia Capital.

FAO: Here’s an interview  with Juan Benet, the founder of Protocol Labs. Filecoin will be the first offering on CoinList (more coverage here).

So You Want to (Legally) Raise An ICO?

Amy Wan – Crowdfund Insider

So how do you actually legally raise an ICO?

Cryptocurrencies

Coinbase Says It Will Support Bitcoin Cash After All – But It Isn’t Committed To Trading Yet

Jon Russell – TechCrunch

Coinbase has reversed its stance on Bitcoin Cash and said it will introduce support for the fork next year.

FAO: And BCH jumped more than 50% in the last 24h…

Some Investors Must Wait Until 2018 To Receive Their Tokens

Luke Graham – CNBC

Two of the world’s largest digital currency exchanges have changed their minds and decided to support the new asset “bitcoin cash”, but customers will have to wait until January 2018 to gain access to their tokens.

FAO: This is odd. Especially because we’re talking about Coinbase here…

Coinbase Clarifies Alleged “Theft” Of Bitcoin Cash Tokens

JP Buntinx – The Merkle

The Coinbase exchange clearly indicated they would not support Bitcoin Cash, and all customers were advised to move their funds off the platform if they wanted their BCH tokens. However, some people still feel that tokens were issued on the exchange, even though they were not credited to user balances. That money has to go somewhere, after all.

How NEM Blockchain Can Potentially Revolutionize Stock Markets

Shivdeep Dhaliwal – The Cointelegraph

Bringing the Blockchain to the system holds the promise of building decentralized exchanges in the future. The wider DIM Ecosystem comprises of DIMCOIN, DIMCOIN Foundation and other constituents.The technology is based on the NEM Blockchain technology and seeks to revolutionize the way securities are traded. The DIMCOIN ICO is currently underway and will end on Aug. 27, 2017.

FAO: DIM Ecosystem explained. BTW have you seen NEM’s price lately? It was +22% at the time of writing.

Dash Cryptocurrency Calls On White-Hat Hackers To Vet Its Blockchain

Avi Mizrahi – Finance Magnates

Dash, the cryptocurrency which was recently accepted by Apple for the App Store, has contracted the services of Bugcrowd for crowd-sourced security testing. This means that thousands of cyber-security researchers will have an incentive to identify critical software vulnerabilities within Dash’s code and present them to the Dash Core Team.

FAO: Interesting approach. It’s a win-win at the same time. Everybody will learn something at the end of the contract.

Exchanges & Trading Venues

Belgian Police Arrest Two Unlicensed Bitcoin Exchange Operators

Joshua Althauser  – The Cointelegraph

The Belgian police have arrested two Belgian brothers who are allegedly involved in a large-scale unlicensed Bitcoin exchange operation. The brothers’ team called Zhao Dong 1982 on LocalBitcoins had been collecting very high commissions for Bitcoin sale transactions. The police have reportedly seized a total of €400,000, including nearly €100,000 in cash that was discovered hidden behind a spare tire in a garage during the arrest.

FAO: It seems that one of the arrested brothers is a police officer….No comment.

UK’s First Cryptocurrency Luxury Goods Exchange Launched

James Oliver – Bdaily

Cryptocurrency innovator Eleesa Dadiani has launched Dadiani & Partners, the UK’s first exchange for the purchase of luxury assets solely in cryptocurrency.

FAO: Accepted cryptocurrencies – Bitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin and Dash. Oh and clients can also buy Formula One cars. Cool!

Vendors

South Korean Market Giant Bans Bitcoin Mining Amidst Electricity Outages

Joseph Young –  The Cointelegraph

Yongsan Electronics Market, an iconic center in South Korea which houses some of the largest electronic retailers and South Korean headquarters of major computer manufacturers including ASUS, officially banned Bitcoin mining after discovering that some of its smaller stores have used Yongsan Electronics Market’s electricity to mine Bitcoin.

FAO: Oh boy. Here we go again.

BitPeople

There’s A House Full Of Cryptocurrency Gurus In San Francisco, And It’s Like A Modern-Day Commune

Deborah Findling – CNBC

San Francisco’s Potrero Hill neighborhood is home to hilly streets, views of the Bay Bridge—and the Crypto Castle, a three-story home where a half dozen cryptocurrency entrepreneurs live and collaborate.

FAO: Definitely on FinTech Daily News’s visits list in the coming years.

Latest Developments & Agreements

Nasdaq Files Patent for Blockchain-Based Information Dissemination

Jon Buck – The Cointelegraph

The Nasdaq Composite has recently filed an application with the patent office for a computer system able to release time-sensitive information to investors securely using Blockchain technology.

FAO: Nasdaq adds yet another blockchain initiative. Of course you already know Nasdaq was one of the first major exchanges in the world to enter the blockchain space with various projects. Other exchanges are stepping in. More here.

Regulation

China To Use Blockchain For Taxes

DCE Brief

The Chinese government is reportedly planning to use blockchain technology for managing taxation and the issuance of electronic invoices. The announcement was made by the Miaocai Network, which is a state-sanctioned electronic taxation and invoicing enterprise. The Network revealed that it will be collaborating with the “government affairs chain GACHAIN” to create a blockchain-based system for “social taxation” and electronic invoicing.

FAO: China, world’s leader in fintech adoption, is doing very well in blockchain adoption too.

Analysis

Beyond The Boring Blockchain Bubble

Jon Evans – TechCrunch

The silly season continues. Speculators are piling into the cryptocurrency space in the hopes of–sometimes very literally–making money fast.

For those who are interested in the technology, not the money — who think that blockchains are primarily interesting because, unlike most modern technology, they decentralize power — so far this has actually been a mostly disheartening year.

Other news

Bitcoin Exchange Changelly CEO: In Touch with European Cybercrime Center

William Suberg  – The Cointelegraph

WannaCry ransom funds were moved from Bitcoin to Monero, and now the exchanges involved are assisting police to find the perpetrators.

FAO: Makes reference to latest WannaCry findings, adds to Friday’s reports (see here in ‘Other news”).

It’s a Very Good Time To Be A Money Launderer, And You Can Thank Cryptocurrencies

Saheli Roy Choudhury – CNBC

Regulators in the United States and Singapore have in recent weeks highlighted the risks of money laundering and fraud that investors face when buying into a digital token sale.

Overstock Has a Blockchain API and It’s Not for Bitcoin

David Berlind – ProgrammableWeb

Overstock has launched an API called t0. The API has a built-in auction system. When a fund sends the stock to t0, it auctions the stock by generating a digital locate receipt on the blockchain. This prevents over-locating from occurring because the blockchain has all the receipts of the sale and records the underlying stock. The auction occurs on the Overstock API, which is licensed to prime brokers.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News