Blockchain Daily News – Edition 252, 17.07.2018
July 17, 2018
Blockchain Daily News – Edition 254, 19.07.2018
July 19, 2018

Blockchain Daily News – Edition 253, 18.07.2018

Today’s Highlights: Mastercard wins patent for speeding up crypto payments, Goldman Sachs’ new CEO David Solomon is keen on Bitcoin and crypto, Coinbase says it was wrong about SEC approval of acquisitions & Stellar becomes ‘first’ Sharia-certified blockchain for payments and asset tokenization

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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

Mastercard Wins Patent for Speeding Up Crypto Payments

Christine Kim – CoinDesk

Mastercard Has A New Patent That Could Allow Bitcoin Transactions On Credit Cards.

Kellie Ell – CNBC

Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. Mastercard won a patent to protect a method that would manage “fractional reserves of blockchain currency.” While no products have been brought to market, the technology could speed up blockchain transactions.

DNT: If this will become real, it could be a real boost for transactions with Bitcoin!

Goldman Sachs’ New CEO David Solomon Is Keen On Bitcoin And Crypto

Billy Bambrough – Forbes

It’s official — the new chief executive of Goldman Sachs will be the firm’s current chief operating officer David Solomon, who last month said the New York investment bank is looking in to adding further bitcoin and cryptocurrency services to its portfolio.According to Solomon, Goldman Sachs is already offering clients publicly-traded derivatives tied to bitcoin.

Deals & Investments

Canada’s Only Actively Managed Crypto Fund Is 90% In Cash

Kristine Owram – Bloomberg (subscription)

Cash is king for Canada’s only actively managed crypto fund.The Rivemont Crypto Fund, run by Rivemont Investments, had about 91% of its C$3 million ($2.3 million) of assets in cash as of July 13, with the remaining 9% in Bitcoin, according to its latest weekly update.

After Scandal And Death, Two Alpine Banks Target Crypto Gold

Hugo Miller & Patrick Winters – Bloomberg (subscription)

Falcon Bank and Liechtenstein’s Bank Frick are among a very limited number of the 150-plus private banks in Switzerland and the neighboring duchy that have begun offering clients a direct way to invest in the volatile asset class. While Credit Suisse and UBS Group have shied away from crypto, Falcon and Frick are tapping pent-up demand for banking services from Crypto Valley, as the Swiss city of Zug has dubbed itself.

Sequoia China, Polychain Lead Blockchain Startup’s $28 Million Round

Wolfie Zhao – CoinDesk

Blockchain startup Nervos Network has announced the completion of a $28 million Series A funding round.The company said that major investors in the round included token-focused hedge fund Polychain and venture capital firm Sequoia China, as well as several China-based blockchain startups like wallet services Bixin and imToken.

Exchanges & Trading Venues

Coinbase Says It Was Wrong About SEC Approval Of Acquisitions

Lily Katz – Bloomberg (subscription)

Coinbase which said it got the green light from the U.S. Securities and Exchange Commission to move forward with a trio of acquisitions, now says it never got such an endorsement. Nor did it need it. “It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process,” Coinbase spokeswoman Rachael Horwitz said.

DNT: Initially, Coinbase said it got the green light from U.S. watchdogs to move forward with a trio of acquisitions that will allow it to become one of the first federally regulated venues for trading digital coins. Check our yesterday’s editionBreaking News section, for details about the initial Coinbase approach on this topic.

Cryptocurrencies

The Bitcoin Price Is Up 10% In 24 Hours To Over $7000 — What’s Pushing It Up?

Forbes

Cryptocurrency Rally Builds Steam as Bitcoin Surpasses $7,500

Olga Kharif & Eric Lam – Bloomberg (subscription)

Cryptocurrencies extended their rebound as Bitcoin traded above $7,500 for the first time in a month, shrugging off security and regulatory concerns that have plagued the digital currency for much of this year. Bitcoin climbed as much as 3.1% to $7,543, according to Bloomberg composite pricing. Rival cryptocurrencies including Ripple, Ether and Litecoin also advanced. Bitcoin remains more than 60% below its all-time high in December.

DNT: At the time of writing, Bitcoin was trading around $7,400.

Litecoin Founder Says In ‘Best Case’ Recent Bank Stake Could Result in Crypto Services

Aaron Wood – Cointelegraph

Litecoin founder Charlie Lee posted on Reddit to clarify his position within the Litecoin Foundation and the future of the Foundation following its acquisition of a stake in German bank WEG Bank AG. In his post, Lee mentioned the possibility of the bank offering crypto services.

DNT: Last week, the Litecoin Foundation acquired a 9.9% share in WEG Bank through a new strategic partnership with crypto-fiat payments firm TokenPay – details here, Deals & Investments section.

Stellar Obtains Sharia Certification For Payments And Blockchain Asset Tokenization

CryptoNinjas

Stellar Becomes ‘First’ Sharia-Certified Blockchain For Payments And Asset Tokenization

Ana Alexandre – Cointelegraph

Stellar, an open-source platform for distributed payments, is reportedly the first distributed ledger protocol to obtain Sharia compliance certification in the money transfer and asset tokenization field, according to a Stellar blog post.

Cryptomining Companies Consider Broadening Scope

Joshua Brustein – Bloomberg (subscription)

As the price cryptocurrencies drop, some miners are searching for alternative uses for massive data centers they’ve built.

Vendors

IBM Is Helping Launch a Price-Stable Crypto With FDIC-Insured Funds

Marc Hochstein & Ian Allison – CoinDesk

IBM Is Working With A ‘Crypto Dollar’ Stablecoin

Jen Wieczner – Fortune

IBM is exploring whether a cryptocurrency pegged to the U.S. dollar may be a better option for making payments than other digital currencies, which tend to be volatile.The computing giant is already a pioneer in business applications for blockchain, using the digital ledger technology that underpins Bitcoin to help companies track their supply chains as well as to make international payments more efficient.

BitPeople

Via BC Focus – Ripple appoints Dan Morgan to lead and strengthen European regulatory relations

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Latest Developments & Agreements

Bank Of America Reveals Blockchain Patent For External Data Validation, Cites Need For ‘Accurate Indication’ Of Financial Standing

William Suberg – Cointelegraph

Bank of America has filed a patent for a blockchain-based system allowing the external validation of data, according to a United States Patent and Trademark Office patent filing. BoA’s patent filing proposes using blockchain for tracking resource information and confirming resource transfers.

Regulation

Cryptos Push Korea’s Financial Regulator To Consider Restructuring

Cryptovest – Marin Marinov

South Korea’s Financial Services Commission (FSC) has revealed a plan for restructuring in a bid to foresee market changes and safeguard investors from the challenges that new financial technologies like cryptocurrencies pose. The organizational reshuffle includes a new body that will issue recommendations related to virtual coins as well as a mega-department that will supervise all financial sectors.

Events

Want your event details published in Blockchain Daily News? Send us your queries here.

Analysis

Blockchain Expert Explains Tools to Reduce Token Circulation

News BTC

One of the important factors that determine if a blockchain project makes a worthwhile investment is its token economy. When a project is set to hold a token sale, its white paper should specify how it will create a healthy balance between supply and demand of tokens. One that boosts their price.

Why Stripe Gave Up On Bitcoin And Blockchain Payments

Jeff John Roberts – Fortune

In 2015, digital payments giant Stripe unveiled a tool for merchants around the world to accept Bitcoin. At the time, Stripe’s news came as further evidence that a cryptocurrency revolution was underway. But this April, Stripe pulled the plug.What happened? According to Stripe COO Claire Hughes Johnson, Bitcoin and other blockchain-based payment services are slow, impractical, and overhyped.

Other news

Democracy Of Two: NEO and the Crypto ‘Election’ That Wasn’t

Annaliese Milano  – CoinDesk

What constitutes an election? According those backing ethereum competitor neo, just one candidate and two voters.The public blockchain project, whose tokens are valued at over $2 billion by crypto investors, went so far as to claim in a July 4 blog post that it had entered a “new era” in which its token holders will have a say in how decisions on the network are made, but even insiders are skeptical such assertions are little more than rhetoric.

CyClean Cleans Up Smog With Crypto Transport

Jillian Godsil – Irish Tech News

DNT: This is an interesting interview with Mofassair Hossain, the head of marketing with CyClean, the very first platform which purchased a company using cryptocurrencies. More exactly, on June 29th, CyClean Platform acquired a 60% share of IMUSIC THINGS LIMITED.

Google Hit With Record $5 Billion EU Antitrust Fine

Foo Yun Chee – Reuters

EU regulators hit Google with a record 4.34 billion euros ($5 billion) antitrust fine on or using its Android mobile operating system to squeeze out rivals.

Opinion

Bitcoin ETFs Will Be Good For The Market Says  Kevin O’Leary O’Shares’ Chairman

CNBC (video)

Does crypto hold the key to the ETF market? Kevin O’Leary, O’Shares Chairman, discusses the cryptocurrency market and regulation. With CNBC’s Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, David Seaburg, and Guy Adami.

Tom Lee On What Bitcoin’s Breakout Means For The Cryptocurrency

Bloomberg (video)

Tom Lee, Fundstrat, on bitcoin’s key level, as the cryptocurrency has its best day in 3 months.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News