Blockchain Daily News – Edition 6, 11.07.2017
July 11, 2017
Blockchain Daily News – Edition 8, 13.07.2017
July 13, 2017

Blockchain Daily News – Edition 7, 12.07.2017

Blockchain Daily News

by Florin Oprea

Edition 7, 12.07.2017

Lead Story

Hyperledger Releases Its First Production Ready Blockchain

Anna Irrera – Reuters

The Hyperledger Project, a group led by the Linux Foundation, has released its first blockchain code.

FAO: Historic day! The Linux Foundation, founded 17 years ago, currently counting 185 Corporate Members, has released Hyperledger Fabric 1.0, “strong and secure enough” to be used by corporations to create blockchain-based business applications.

Deals, Investments & M&As

Why A Messaging Start-Up Is Making Its Own Digital Currency Instead Of Going Public

Eric Jackson – CNBC

Social messaging company Kik has bigger plans for its upcoming ICO. In a recent talk given by Kik founder and CEO Ted Livingston, he explained that Kik saw its ICO of a currency called Kin as a potential alternative exit for them.

FAO: Sounds like a plan! Kik will use the ICO to bring in more money, in addition to the $120m raised from VC  in the last 7 years (latest lead investor was Tencent with $50m). Kik is selling 10% of its Kin currency to institutional and retail investors. 30 % will be kept by Kik while 60% will be overseen by Kin Foundation, a nonprofit organization.

Blockchain Startup Provenance Raises $800k In Seed Funding

Wolfie Zhao – CoinDesk

UK blockchain startup Provenance has raised $800,000 in new seed funding.

FAO: Investors John Taysom, Angel Academe, Plug and Play Tech Center, Merian Ventures, Omidyar Group, Digital Currency Group, Alexsis de Raadt-St. James, Humanity United. Funds will  be used to fuel the product launch timeline.

Cryptocurrencies

Bitcoin Is Having A Civil War Right As It Enters a Critical Month

Lulu Yilun Chen, Yuji Nakamura – Bloomberg

The notoriously volatile cryptocurrency, whose 150% surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet.

Immature Code Or Good Test? Bitcoin Scaling Proposal Segwit2x’s Testnet Forks

Alyssa Hertig – CoinDesk

Controversial bitcoin scaling proposal Segwit2x’s testnet forked yesterday, creating two different and incompatible testnets.

FAO: Turbulence ahead!? Of course! 2 more article discussing SegWit2x, a much debated topic. We already covered this topic in our previous editions. Try our Archive!

Exchanges & Trading Venues

Euronext: Launch Of Liquid Share, The European Blockchain Fintech For SME Post-Trade

Mondovisione

BNP Paribas, CACEIS, Caisse des Dépôts, Euroclear, Euronext, S2iEM and Société Générale with the support of Paris EUROPLACE announce the creation of the European fintech venture LiquidShare.

FAO: Post-trading blockchain infrastructure for the SME market.

Chief Of Bitcoin Exchange Mt. Gox Denies Embezzlement As Trial Opens

Thomas Wilson – Reuters

The 32-year-old CEO of defunct Mt. Gox pleaded not guilty to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world’s biggest bitcoin exchange.

FAO: Saga continues. Mark Karpeles is facing trial in Japan.

Cryptocurrencies Need Regulation, Says CEO Of Chinese Bitcoin Exchange BTCC

Saheli Roy Choudhury – CNBC

Cryptocurrencies need to be regulated or they risk going out of control as more people invest in these digital assets, the head of a major Chinese bitcoin exchange platform warned on Tuesday.

IRS Blinks In Bitcoin Probe, Exempts Coinbase Transactions Under $20,000

Jeff John Roberts – Fortune

The Internal Revenue Service is significantly scaling back an investigation into customers who bought and sold bitcoins on the popular digital currency exchange Coinbase.

FAO: The IRS probe was previously discussed here.

Vendors

Bitcoin + Post-Trade? Nivaura Exits Stealth To Help Banks Use Open Blockchains

Michael del Castillo – CoinDesk

Until today, all that was publicly known about Nivaura was its presence in some rather elite blockchain incubators – ranging from JP Morgan’s in-residence program to two terms in the UK Financial Conduct Authority’s regulatory sandbox.

Startups, Accelerators & Hubs

SA Takes Steps To Set Up National Financial Blockchain

Prinesha Naidoo – Moneyweb

The South African Financial Blockchain Consortium (SAFBC) – comprising 22 industry heavyweights, the South African Reserve Bank and the Financial Services Board as observers – is currently exploring the technology powering the $41 billion bitcoin market.

FAO: Is there any continent or even region in this world not exploring/studying blockchain these days?  

Analysis

Cryptocurrencies Are Getting Crushed

Lily Katz – Bloomberg

The cryptocurrency Cassandras are starting to look right.

The sector has lost about a third of its market value since peaking in early June, pushing it into what traditional equity market analysts label as a bear market.

FAO: At the time of writing the top 5 cryptocurrencies by market cap were slowly recovering.

BankThink What’s Really Holding Back Blockchain In Financial Services

Allan D. Grody – American Banker

The real transformative vision, replacing the financial system’s infrastructure of multiple ledgers with a single distributed ledger, needs a continuous regulatory rethink and additional technology upgrades. Most importantly, it needs to unlock the control over infrastructure by powerful centralists in favor of transaction flows amongst financial institutions themselves.

Bitcoin And Three Other Investments That Look Like Classic Bubbles But Actually Aren’t

Shawn Langlois – Market Watch

Charles Schwab global strategist Jeff Kleintop says there are plenty of red-hot investments out there that might look like bubbles, but, in reality, they just don’t fit the classic profile.

IBM: A Future Blockchain Leader?

Roman Luzgin  – Seeking Alpha

IBM was one of the first companies to start developing blockchain solutions in the market in early 2014, when the corporation began to review existing possibilities.

FAO: Don’t forget that  IBM is building a blockchain-based platform for seven big European banks, including HSBC and Deutsche Bank (reported here). The platform’s scope is to simplify trade finance transactions for SME companies.

Other news

An Italian Bank’s Server Was Hijacked To Mine Bitcoin

Joon Ian Wong – Quartz

During a presentation at a conference last week, British cybersecurity experts had some tales to tell of surreptitious and sometimes illegal bitcoin mining in the time before huge computing power was required to turn a profit at the activity.

FAO: Ha!

Russian Cybercriminal Caught With $272,000 In $100 Bills, $5 Million In Bitcoin

James Dunn – North Bay Business Journal

Alexander Tverdokhlebov, 29, was sentenced Monday to more than nine years in prison on wire fraud charges.

FAO: Looks like this guy hacked nearly half a million computers. He pleaded guilty.

Opinion

Smart Contracts Will Need Human Juries

Financial Times (subscription)

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News