Blockchain Daily News – Edition 81, 26.10.2017
October 26, 2017
Blockchain Daily News – Edition 83, 30.10.2017
October 30, 2017

Blockchain Daily News – Edition 82, 27.10.2017

Blockchain Daily News

by Florin Oprea

Edition 82, 27.10.2017

Fans’ Section

Peter Thiel: Bitcoin Is ‘Very Underestimated’

Julia Limitone  – Fox Business

People Are ‘Underestimating’ The ‘Great Potential’ Of Bitcoin, Billionaire Peter Thiel Says

Arjun Kharpal – CNBC

People are “underestimating” bitcoin and it has “great potential left” billionaire investor Peter Thiel said.

Thiel: “I’m skeptical of most of them (cryptocurrencies), I do think people are a little bit … underestimating bitcoin especially because … it’s like a reserve form of money, it’s like gold, and it’s just a store of value. You don’t need to use it to make payments.

FAO: If Peter was an JPMorgan employee I am sure Jamie would have fired Peter INSTANTLY after such a statement. Dunno how Peter managed to become one of the most successful billionaire in the world with such a thinking…Yeah, I am just being sarcastic!

DNT: In our yesterday bulletin we had a story about BTC vs. GOLD  – store of value vs. medium of exchange. Compared to gold, BTC can be, however used to make payments. Now, that’s really cool, ‘cause that means it can be both: a medium of exchange and a store of value as well. Depends of the holders plans & interests.

Why Bitcoin Matters More Than Blockchain

Brian Kelly – Forbes

DNT: After the horde attacks of BTC contenders, we finally have a counter-offensive. Well-argued, by the way.

FAO: Now here are some thoughts for all the users of “blockchain good, bitcoin bad” phrase and its derivatives:

Brian Kelly: “Bitcoin accomplishes this disruption not just with blockchain technology but also with the global decentralized currency also called Bitcoin. The currency “Bitcoin” is the incentive for anyone in the world to run the software that changes the way the financial system works.  Banks love blockchain because they get to continue to maintain the ledger of transactions by running the software on their own computers. But Bitcoin creates competition for the banks in the form of anyone with a computer and an internet connection..”

Deals, Investments & M&As

Templum Raises $2.7 Million In Bid To Launch Regulated Token Trading System

Stan Higgins – CoinDesk

New York-based blockchain startup Templum has raised $2.7 million in a new seed funding round.

Multicoin Capital Plans $100 Million Raise For New Blockchain Investment Fund

Brady Dale –  CoinDesk

FAO: Soon, very soon, we will come to a stage when we won’t be able to report the launch of all these platforms and funds. You know why? Because they will be too many. And that’s because, at that stage, the “cryptoverse” will be VERY BIG.

Cryptocurrencies

Coinbase Updates SegWit2x Stance; May Call Forked Chain ‘Bitcoin

Josiah Wilmoth – Cryptocoins News

Coinbase has clarified its position on the upcoming SegWit2x hard fork, stating that it will use accumulated network difficulty to determine which blockchain the company will label “Bitcoin” following the fork.

Coinbase: “[After the fork] We are going to call the chain with the most accumulated difficulty Bitcoin. We will make a determination on this change, once we believe the forks are in a stable state. We may consider other factors such as market cap or community support to determine stability.”

FAO: Many thanks for clarifying this.

“I Don’t Fully Understand Yet What Cryptocurrency Is”: Kazakhstan’s Central Bank Chief

AKIpress (subscription)

Chairman of the National Bank of Kazakhstan Daniyar Akishev warned the citizens of risks associated with the cryptocurrency.

DNT: Yet, Kazakhstan officials declared (find here) that what to create a state-issued crypto….How’s that coming?

FAO: Was he also scratching his head while saying this? Hmmm…

Exchanges & Trading Venues

Making Boring Sexy: NSD Sees Booming Interest for Blockchain Bonds

Michael del Castillo – CoinDesk

Russia’s largest clearing and settlement company has issued its first-ever live bond using blockchain, and already, issuers and brokers are wanting in on the action.

FAO: More about NSD’s project  – here.

BitPeople

Inside Warren Buffett’s Master Class On Bitcoin, Self-Driving Vehicles – And Life

Makail Johannesson  – Market Watch

Several times a year, Warren Buffett invites business students to Omaha, Neb, to listen to the Oracle himself.

Unsurprisingly, Buffett thinks coin offerings will end badly. “People get excited from big price movements, and Wall Street accommodates”, he said.

Buffett: “You can’t value bitcoin because it’s not a value-producing asset.

FAO: Indeed nothing surprising in his thinking…

Latest Developments & Agreements

HKMA To Cooperate With Shenzhen, Singapore On Fintech Development

Alun John, Andrew Barclay – SCMP

Hong Kong Monetary Authority has announced new agreements with Singapore and the city of Shenzhen to encourage further collaboration on fintech development.

FAO: More details emerge after the announcement the other day…Looks pretty big actually. So here we are. Here’s an update on how our “Crypto-Teams” look now – and we can scale it to a:

Crypto-Teams BDN Global Outlook

Team “Pro”: Japan, Hong Kong + Singapore, Australia, United Arab Emirates, Bahrain, Cambodia, Kazakhstan, Taiwan

Team “Against”: China, India, Russia, Malaysia, South Korea, Indonesia

Team “Neutral”: EU, USA, Canada

Do you find our outlook accurate? Want to change/add anything to it? Send us your arguments. Contact us!

Regulation

Singapore Aims To Finish Its Own Cryptocurrency Trial Next Year

Arjun Kharpal – CNBC

Singapore will conclude its experiment with blockchain technology and its own digital currency next year before deciding whether to commercialize the trial, the country’s regulator has told.

FAO: The Monetary Authority of Singapore (MAS) has announced Project Ubin this summer. Partners in the project: R3, BAML, JPMorgan, Credit Suisse, and Mitsubishi UFJ Financial Group.

Analysis

Bitcoin Throwdown: Analysts Spar On Whether The Cryptocurrency Is A Good Deal Or Too Risky

Liz Moyer – CNBC (video)

Bitcoin’s meteoric rise in price this year is backing people into two camps: the deeply suspicious and the incredibly enthusiastic.

DNT: An interesting “confrontation” between Andrew Left, a BTC critic, and Tom Lee, a BTC supporter.

Is Blockchain Overhyped? Analysts At  Investment Bank Berenberg Thinks So

Lynsey Barber – City A.M.

Despite the “genuine excitement” over the technology’s potential, analysts believe the technical difficulty of implementing it will delay its progress.

DNT: Have you ever noticed that most skeptical opinions come from the banking sector? No offense for those of you who are working in banks…Overhyped or not, this technology is the future. And is badly wanted by the banks too.

Other news

Lawyers Circle Over Tezos Foundation Dispute

Matthew Allen – Swissinfo.ch

Allegations of corporate misconduct surrounding the new cryptocurrency Tezos have brought the threat of class-action lawsuits in the United States. The fall-out centres on the Zug-based Tezos Foundation that houses $400m of publicly-raised funds.

DNT: The circus came to town…More about Tezos dispute here and much more about the initial success story (the outstanding $232 million ICO) in our Archive.  

European Energy Firms Trial Blockchain Trading Marketplace

Annaliese Milano – CoinDesk

Two European energy providers tested a new blockchain-based trading platform earlier this month.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News