Blockchain Daily News – Edition 86, 02.11.2017
November 2, 2017
Blockchain Daily News – Edition 88, 06.11.2017
November 6, 2017

Blockchain Daily News – Edition 87, 03.11.2017

Blockchain Daily News

by Florin Oprea

Edition 87, 03.11.2017

Fans’ Section

Bitcoin Is the ‘Very Definition’ of a Bubble, Credit Suisse CEO Says

Jan-Henrik Foerster – Bloomberg (subscription)

Banks Are Staying Away From Bitcoin ‘Bubble’ Due To Money Laundering, Credit Suisse CEO says

Ryan Browne – CNBC

Credit Suisse CEO Skeptical About Bitcoin ‘Bubble’

The New York Times

Credit Suisse CEO Tidjane Thiam expressed caution about Bitcoin, saying the current interest in the crypto-currency could eventually subside.

FAO: The “current interest” in the Euro, or the USD, could “eventually” subside as well. Well in fact this interest grows and subsides every day, and the banks are the “speculators” here…Even Credit Suisse shares have two different prices every day, as they are listed on two exchanges…

Anyway, nothing surprising in Thiam’s tone as this comes after another Swiss reaction on bitcoin at the end of last month, when Sergio Ermotti, UBS’ CEO, said he is “not necessarily” a believer in cryptocurrencies…Are there any others left on the list of speakers against bitcoin?

Deals, Investments & M&As

BNP Paribas Insurance Arm Invests In blockchain Startup Stratumn

Finextra

Stratumn announced a raising from C. Entrepreneurs, the venture capital fund created by the insurer BNP Paribas Cardif in partnership with Cathay Innovation, as part of its extended Series A funding.

FAO: Stratumn has attracted almost $10m in funding since 2015.

More Blockchain Endorsement As Digital Money Company Colu Heads To ICO

Monty Munford – Forbes

Those who live and work in the hip London areas of Shoreditch and Hackney areas of London will be familiar with Tel Aviv-based digital wallet company Colu.

FAO: This summer (reported here) the blockchain-powered platform launched its second currency in the UK – the Local Pound, in East London.

Coinbase’s GDAX Exchange Sets Out Criteria for Token Listings

Nikhilesh De – CoinDesk

In its new Digital Asset Framework, GDAX sets out a wide range of criteria that assets must meet for possible inclusion. These include whether the asset aligns with GDAX’s mission and values, to whether listing the asset would be legal under U.S. securities laws.

FAO: It’s less than a month since LabCFTC (quite a brilliant name actually, I wonder what’s next on their “cooking” list) published a first series of guidelines on cryptocurrency. CFTC aligned with SEC and might consider tokens issued through ICOs as commodities. More here.

Exchanges & Trading Venues

Cryptocurrency Exchanges Officially Dead In China

Kenneth Rapoza  – Forbes

The ban, which was announced in September (reported here) finally shuttered its last exchange and made it illegal for Chinese mainlanders to exchange digital money unless they operate offshore. Which is precisely where it is all heading (more information – here).

FAO: We have added our notes in there – so it is easier for you to follow the steps that Chinese exchanges have taken after the government crackdown.

One Of the Biggest Bitcoin Exchanges Just Added 100,000 Users In A Single Day

Brandon Kochkodin – Bloomberg (subscription)

Coinbase Hits 12 Million Users, Adds 100k Members In Just 24 Hours

Aziz Abdel-Qader – Finance Magnates

Coinbase has added 100,000 users in just 24 hours, continuing a record spurt lasting since CME Group announced plans to launch Bitcoin futures in the fourth quarter of this year.

DNT: Wow! Another astonishing result. Earlier in August, Coinbase became the “first Bitcoin ‘Unicorn’”. According to Finance Magnates, Coinbase has surpassed 12m registered users and this year the exchange added two million users. Guess CME’s announcement will boost other crypto-exchanges too.

FAO: And I guess it was the perfect moment for a good old PR hype too…

Argentina’s Biggest Futures Market Plans To Join The Bitcoin Party

Ignacio Olivera Doll, Camila Russo – Bloomberg (subscription)

Argentina, one of the fastest nations to adopt bitcoin, wants to stay at the forefront of the cryptocurrency market. Rofex exchange plans to start offering crypto trading services. It would be first market in the country with these products.

FAO: Time for an update of our “Teams” list, which was last updated on 31.10:

Crypto-Teams BDN Global Outlook

Team “Pro”: Japan, Hong Kong + Singapore, Australia, United Arab Emirates, Bahrain, Cambodia, Kazakhstan, Catalonia, Argentina (new entry)

Team “Against”: China, India, Russia, Malaysia, South Korea, Indonesia, Lebanon, Taiwan (latest entry – switching sides, from Team “Pro”)

Team “Neutral”: EU, USA, Canada

Nasdaq Exec: Blockchain Progress Slow Amid Real-World Roadblocks

Michael del Castillo – CoinDesk

Blockchain may be ready for primetime use on some of the world’s largest stock exchanges, but that doesn’t mean integrating the technology in financial systems will be an easy ride.. Nasdaq Clearing’s recently promoted head of product development, Gustaf von Boisman, addressed this gap, highlighting how the technology’s current capabilities aren’t necessarily yielding quick implementations.

BitPeople

Bitcoin And Blockchain Are Among The Fastest-Growing Skills Online

Natalie Wong – Bloomberg (subscription)

As cryptocurrencies explode in popularity, employers are clamoring for workers with expertise in the emerging field.

FAO: Better check your bitcoin skills – CAUTION! Not recommendable for ANY JPMorgan employees!!!

Latest Developments & Agreements

Ethereum Storage Network Swarm Enters Next Test Phase

Rachel Rose O’Leary – CoinDesk

Swarm, the decentralized storage branch of the ethereum network, has advanced to is third proof-of-concept stage.

Regulation

War On Bitcoin? Govt Panel Seeks Crackdown On Cryptocurrency Dealers In India

Rahul Oberoi – The Economic Times

To curb the use of cryptocurrencies in India, a government panel is said to have advised closing cryptocurrency dealers in India. The decision has come at a time when cryptocurrency bitcoin has gained more currency, with US-based derivatives marketplace operator CME Group planning to offer bitcoin futures later this year.

FAO: No probs! They will have Singapore and other jurisdictions to go to…

Startups, Accelerators & Hubs

Japan: A Forward Thinking Bitcoin Nation

Ken Yagami – Forbes

The combination of the official stamp of approval from the Japanese government and restrictive policies in neighboring countries helped catapult the price of Bitcoin to $7000. In addition, as of today turnover of the digital currency that originates in Japan can be as high as 60% of global Bitcoin volumes on some days.

FAO: …and for this, Japan wants to send China a special “Thank yu!” note…oh sorry, “Thank you!”   

Other news

Amazon Just Bought 3 Cryptocurrency Web Addresses And Nobody Knows Why

David Meyer – Fortune

What, if anything, is Amazon planning to do in the cryptocurrency space? That’s the question after the cloud and retail giant was spotted registering three web domains relating to the field this week.

DNT: This could be big. An eventual and quite possible entrance of the giant internet-based retailer in the “cryptoverse” can shake, boost, magnify and change everything…By all means, you can add any epithet.

As reported yesterday, Amazon secured the following web addresses: amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com.

FAO: A kind of story that surely sends some shivers down the spines of some people in the banking world…Have anyone in mind?

Opinion

How Big Can This Bubble Get? Bitcoin Has Smashed Through $7,000 For The First Time

John Detrixhe – Quartz

The most recent explanation for the seemingly unstoppable bull run is that the world’s largest futures exchange said it will create bitcoin futures, which could entice Wall Street heavy hitters and eventually move the digital asset into mainstream institutional portfolios.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News