Blockchain Daily News – Edition 39, 25.08.2017
August 25, 2017
Blockchain Daily News – Edition 41, 29.08.2017
August 29, 2017

Blockchain Daily News – Edition 40, 28.08.2017

Blockchain Daily News

by Florin Oprea

Edition 40, 28.08.2017

Deals, Investments & M&As

Investors Pull Billions from Stocks As New Bitcoin, Crypto Options Appear

Jon Buck – The Cointelegraph

The withdrawal of funds from stocks and precious metals has coincided with the massive price increase of Bitcoin and other cryptocurrencies.

FAO: Interesting coincidence…

Cryptocurrencies

Russian Deputy PM Says He Supports a State-Backed Cryptocurrency

Rachel Rose O’Leary – CoinDesk

In an interview with Russian broadcaster RBC, First Deputy Prime Minister Igor Shuvalov said that he is in favor of a “crypto-ruble” – provided that certain measures are put in place on the security front.

FAO: NSD recently announced the launch of a platform for cryptocurrency assets. Russia seems to be “all-in” for blockchain adoption, since a lot of top Russian politicians have recently showed their support for the “cryptoverse”. One of them is Russia’s President, Vladimir Putin, who met the founder of Ethereum, Vitalik Buterin in June.

Update On Ethereum Metropolis from Core Dev Meeting

Jon Buck – The Cointelegraph

The recent announcement of the Metropolis upgrade to Ethereum has driven the Ethereum price up over $325 again. However, a multitude of questions surfaced regarding the nature of the fork, if it would create a new cryptocurrency, and the Ethereum Ice Age.

A statement from the core dev team has clarified some of those questions for users and laid out a more specific roadmap for the Metropolis hard fork.

FAO: Metropolis hard fork is near. See more coverage here.

Exchanges & Trading Venues

BTC-e Promises ‘Daily’ Updates During Relaunch Attempt

Stan Higgins – CoinDesk

BTC-e is planning to release more updates about its recovery efforts weeks after a stunning crackdown by US authorities.

FAO: Latest developments around the BTC-e case. Read more about it in this last month edition.

South Korean Giant Kakao Announces Cryptocurrency Exchange Plans

newsBTC

Kakao is launching a cryptocurrency exchange alongside its stock trading app. The trades will occur through the mobile Kakao Talk app, which is used by over 200 million users.

FAO: Nice looking customer base to address for starting such a project. Good luck!

Major South Korean Conglomerate Enters Bitcoin Remittance Market

Lisa Froelings – The Cointelegraph

South Korean conglomerate, Dongbu Group, has announced a partnership with Bitcoin remittance service provider Sentbe in its bid to enter the Bitcoin remittance market.

The group is collaborating with Sentbe through its savings bank subsidiary, the Dongbu Savings Bank.

How Crypto Exchanges Cash In on New Currency

Karen Epper Hoffman -CoinDesk

It’s not always easy to be the new kid on the block(chain).

Vendors

Bitcoin Miners Are Making A Killing In Transaction Fees

Frank Chaparro – Business Insider

According to data from blockchain.info.com, the value of transaction fees paid to miners has reached an all-time high of $2.3 million.

SegWit2x Could be in Trouble as Bitwala Becomes First Signatory to Renege on New York Agreement

David Dinkins – The Cointelegraph

Bitwala published a blog post indicating that they will not support the New York Agreement, of which they are signatories.

FAO: What is wrong with this picture?!??

Latest Developments & Agreements

Researchers Bring Atomic Clock Timestamp Precision To Stock Market Trading Over Distributed Ledgers

MondoVisione

In a ground-breaking experiment, researchers from the National Physical Laboratory, the Toronto Stock Exchange (TMX), and Z/Yen, timestamped financial stock trades with Co-ordinated Universal Time (UTC) generated from atomic clocks and recorded the trades directly on a distributed ledger. The results will be analysed by Strathclyde’s Centre of Financial Regulation and Innovation. The “Atomic Ledger” project recorded over 20 million transactions from three hours of trading to the ChainZy distributed ledger system.

Regulation

Vietnam is Preparing to Legalize Bitcoin

Cryptocoinsnews

As reported by VNA, Vietnamese Prime Minister Nguyen Xuan Phuc has asked the Minister of Justice to coordinate with other top advisors, including the State Bank of Vietnam and the Ministry of Finance, to draft a framework for cryptocurrency legalization.

FAO: I see more and more Asian states rushing to legalize cryptocurrencies. The Vietnamese seem very determined to get this done by the end of next year?!?  

Analysis

The Bitcoin Valuation Bubble

Andy Kessler – Wall Street Journal (subscription)

Faithful techies think in coming decades one digital coin will be worth $500,000.

FAO: What should I say?  They are indeed faithful…

The Bitcoin Sovereign Wealth Fund

Lionel Laurent – Bloomberg

A proposal by Estonia’s agency in charge of “e-residency”applications (more on this later) has suggested raising money by selling “estcoins” to the public.

The wealth could then be managed via a public-private partnership; a chunk might be poured into venture capital to support domestic start-ups. Holders of estcoins would have a stake in the fund and a say in how it is run. The tokens might then become a viable currency, so the thinking goes, paying for goods and services in a euro-zone country.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News