Blockchain Daily News – Edition 261, 01.08.2018
August 1, 2018
Blockchain Daily News – Edition 263, 03.08.2018
August 3, 2018

Blockchain Daily News – Edition 262, 02.08.2018

Today’s Highlights: Coinbase customers can now buy bitcoin with british pounds, Square sees profits from Bitcoin sales double in Q2, DLT platform Hedera Hashgraph completes $100 million raise, investment in the blockchain industry is booming in the U.S, & EU advisory body claims that blockchain innovation is at risk within the European Union

Editors’ thoughts today:

Editor-in-chief Florin Adrian Oprea (FAO): A big THANK YOU for your kind words and thoughts after yesterday’s Koop Romania launch. We will keep you posted regarding the project’s development. If you have plans for starting a fintech/blockchain business in Romania, or if you intend to expand your business in this part of the world, don’t hesitate to contact our independent advisory firm, FO DIGI CAP. More about us here.


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

Bitcoin Bank Comes Closer As Coinbase U.K. Adds Sterling

Billy Bambrough – Forbes

Coinbase Customers Can Now Buy Bitcoin With British Pounds

Jeff John Roberts – Fortune

Coinbase said that customers in the United Kingdom can now buy digital assets with the British Pound. The news is significant because, until now, the company’s UK customers had to maintain their fiat funds in euros rather than pound sterling. This meant the process for buying Bitcoin and other digital currencies on Coinbase took several days and resulted in foreign exchange fees.

Square Sees Profits From Bitcoin Sales Double In Q2

Wolfie Zhao – CoinDesk    

Mobile payments firm Square said it made $37m in revenue from bitcoin sales in Q2 of 2018.The company released an unaudited quarterly financial report which indicated it made an overall net revenue of $814m, 6% of which came from the cryptocurrency buying service added to its Cash App late last year.

Deals & Investments

DLT Platform Hedera Hashgraph Completes $100 Million Raise

Nikhilesh De  – CoinDesk

Hedera Hashgraph has raised $100m in a new funding round. According to CEO and co-founder Mance Harmon, the funding will be used to finish developing and launching the startup’s network..Going forward, Harmon continued, the plan is to raise a further $20m through a ICO that will be open only to accredited investors.

Radar Relay Raises $10m For Decentralized Token Exchange

Nikhilesh De  – CoinDesk

Decentralized token exchange Radar Relay has completed a $10m Series A funding round. The funding effort was led by industry investment firm Blockchain Capital, the startup announced.

Crypto Bulls Pile Into ICOs at Record Pace Despite Bitcoin Rout

Benjamin Robertson – Bloomberg (subscription)

This year’s selloff in virtual currencies has done little to dent investor enthusiasm for ICOs, which attracted a record $12b in H1. That’s up from $7b for the whole of 2017 and a more than 50-fold jump from 2016, according to Autonomous Research.

KPMG: Blockchain Funding In US This Year Has Already Surpassed 2017’s Total

Daniel Palmer  – CoinDesk

Investment in the blockchain industry is booming in the U.S., according to “Big Four” auditing firm KPMG. The company’s “Pulse of Fintech 2018” report states that traditional venture capital investments in U.S.-based blockchain companies in H1 of this year have already exceeded the total for 2017, though it did not specify numbers.The impressive half-yearly figure was led by $100 million-plus funding rounds achieved by consortium startup R3 and crypto investment startup Circle Internet Finance, the report adds.

Exchanges & Trading Venues

Vanuatu Joins List Of Countries Issuing Crypto Licenses

Daniel Mitchell – Hacked

The country of Vanuatu approved and delivered a ‘stock exchange license’ to a cryptocurrency exchange for the first time ever, according to reports coming from the platform in question. DSTOQ announced the public reveal of their project along with the claim of being “the first fully licensed stock exchange for trading security tokens and investing in real-world assets using cryptocurrencies.”

Bitcoin OTC Market Massively Exceeds Those Of Global Bitcoin Exchange

Alexandra Sayapina – Coinspeaker

OTC market is an important part of the crypto community, but the recent research claims that its volume has been underestimated. The dominance of the OTC trading can explain the difficulties of predicting movements of BTC and other cryptos.


Ethereum Celebrates Its Third Birthday, A Look At Its Past And Future

Cole Petersen – News BTC

The Ethereum network has grown to be the second largest blockchain platform behind Bitcoin in a mere three years, all while changing the industry and allowing for new developments to be built on its blockchain network.

DNT: Ethereum was “born” in 30 July 2015. Happy anniversary to Ether, a cryptocurrency that definitely reshaped the cryotoverse!  

Bitcoin’s Use In Commerce Keeps Falling Even As Volatility Eases

Olga Kharif – Bloomberg (subscription)

Who’s using Bitcoin to buy and sell goods and services? A lot fewer people than you probably would have guessed. After peaking at $411m in September, the amount of money the largest 17 crypto merchant-processing services received in the best-known cryptocurrency has been on a steady decline, hitting a recent low of $60m in May, according to research that startup Chainalysis conducted for Bloomberg News.


Nobel Laureate Oliver Hart To Advise Blockchain Startup

Nikhilesh De  – Coindesk

Blockchain economics and governance design startup Prysm Group has added Nobel Prize laureate Oliver Hart and former Microsoft chief economist Preston McAfee to its senior advisory board.

How Blockchain Technology Is Used to Get Past Chinese Censors

Voice of America News

Chinese internet users have found a way to get around government suppression of news by using blockchain technology.

SEC Chief Jay Clayton Got Into ‘Heated’ Debate On Crypto

Stan Higgins – CoinDesk

A newly released transcript from a SEC roundtable in June showcased the sometimes passionate discussion around cryptocurrencies within the agency.
In discussing Clayton’s work at the agency, Werner highlighted an instance in which he walked into a “heated” discussion between the SEC chairman and an unnamed attorney about bout cryptocurrency – while also stressing Clayton’s commitment to the issue in question.


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Latest Developments & Agreements

Applied Blockchain Expands In Europe With A New Office In Portugal

Valentina kirilova – LeapRate

Applied Blockchain, the UK developer of DLT and smart contracts, announced the opening of an office in Porto – its first non-UK office – to further strengthen its blockchain development and to fulfill the growing demand from clients internationally.


EU Advisory Body Claims that Blockchain Innovation Is At Risk Within The European Union

Marin Marinov – Cryptovest

The European Commission’s blockchain advisory body has warned that the EU’s lack of legal and regulatory certainty can stop blockchain development and the Union’s leading role in innovation. The European Blockchain Observatory and Forum published its first-ever report analyzing the blockchain industry in the Union and outlining several recommendations to the bloc.


Ripple Booked Bill Clinton For A Speech And Twitter Won’t Shut Up About It

David Canellis – The Next Web

It seems Ripple Labs is really into celebs. The company announced former US President, Bill Clinton, will be speaking at its annual Swell conference – but it appears the cryptocurrency community on Twitter is not all that impressed.

DNT: The conference will take place in San Francisco over the first two days of October, check our yesterday’s edition, Events section, for details

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Cryptocurrencies And Blockchain Are Immature, But They Have Potential, According To PwC Report

Tanya Abrosimova – FX Street

Blockchain technology is the reality, though it might take time before it takes shape and develops to the point when it has a potential to impact business and the way we do things, the recent report by Roland Stadler from PwC Switzerland shows.

Silvio Schembri Explains How Malta Has Become The World’s Blockchain Island

Rachel Wolfson – Forbes

According to Malta’s Junior Minister for Financial Services, Digital Economy and Innovation, Silvio Schembri, the passing of the recent laws makes Malta the first country to offer a holistic regulatory framework for DLT operations. In other words, these laws not only deal with digital currencies, ICOs, exchanges, etc. but also focus heavily on other DLT technologies that are not necessarily financially focused.

DNT: At the beginning of the last month, the Parliament of Malta has passed three bills into law that establish a regulatory framework for blockchain technology. Details here Fans’ section.

Other news

Long Blockchain Gets Hit With SEC Subpoena After Nasdaq Ouster

Lily Katz – Bloomberg (subscription)

Long Blockchain Corp., the iced-tea company that rebranded itself with one of last year’s hottest buzzwords, was subpoenaed by the U.S. SEC.

The agency asked for certain documents, the company said in a regulatory filing, without disclosing further details.

Blockchain At The Ballot Box? Maybe Someday

Caitlin Ostroff – The Wall Street Journal

To make it easier for its overseas residents to vote, West Virginia tests system using the technology behind bitcoin


Transaction Costs and Tethers: Why I’m a Crypto Skeptic

Paul Krugman – The New York Times

It comes down to two things: transaction costs and the absence of tethering. Let me explain. If you look at the broad sweep of monetary history, there has been a clear direction of change over time: namely, one of reducing the frictions of doing business and the amount of real resources required to deal with those frictions.

What Does The U.S. Treasury Fintech Report Mean For Crypto?

Aaron Stanley – Forbes

After 18 months of anticipation, the Treasury Department released on a seminal report examining the barriers to financial technology and innovation in the United States and proposing a sweeping set of recommendations designed to cut red tape and foster continued experimentation.

Gupta On Google Making Push Into Blockchain (Audio)

Bloomberg (audio)

Kavita Gupta, Founding Managing Partner, ConsenSys Ventures, will discuss how Google is making a push into blockchain. She speaks on Bloomberg Markets with Pimm Fox and Bob Ivry.



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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News