Blockchain Daily News – Edition 89, 07.11.2017
November 7, 2017
Blockchain Daily News – Edition 91, 09.11.2017
November 9, 2017

Blockchain Daily News – Edition 90, 08.11.2017

Blockchain Daily News

by Florin Oprea

Edition 90, 08.11.2017

Fans’ Section

Bitcoin Has No Future Because Of Its Anonymity, SocGen CEO Says

Ryan Browne, Karen Tso – CNBC

Bitcoin and cryptocurrencies are unlikely to survive long-term as governments scramble to regulate them, according to Frederic Oudea the CEO of French banking giant Societe Generale.

Oudea: “The benefit so far is it provides anonymity to the people who are making the transactions.”

FAO: We were wondering when the European banks would appear to attack Bitcoin…Actually we have asked ourselves this quite recently…The French have broken the ice…

DNT: Welcome in our daily newsletter, Monsieur Oudea…More resources to our fans delightment.  

FAO: Soyez bienvenus!

Credit Suisse Embraces Digital Money Despite CEO’s Bubble Fears

Sonali Basak, Lily Katz & Jan-Henrik Foerster – Bloomberg

Credit Suisse CEO Tidjane Thiam said that bitcoin speculation is the “very definition of a bubble.” Even so, he can’t avoid it or the technology behind it.

DNT: Credit Suisse CEO expressed recently his caution about Bitcoin. On the same topic, we reported another Suisse big voice opinion: Sergio Ermotti, CEO of UBS. But, you are what you do, not what you say you’ll do. Period.

FAO: How do you say “Ooops” in French?

CME’s Melamed Sees Bitcoin Becoming New Asset Class

Tomo Uetake, Hideyuki Sano – Reuters

Bitcoin is likely to become a new asset class in its own right, such as gold or stocks, which can be traded by major investors and regulated, not simply a crypto-currency, Leo Melamed, Chairman Emeritus of CME Group, said.

DNT: A statement that must be read or heard by many, starting with Mr. Jamie Dimon.  

FAO: Last week CME announced its plans to launch Bitcoin futures by end of the year.

Tim Draper On Bitcoin: ‘In 5 Years If You Use Fiat Currency, They Will Laugh At You’

John Koetsier – Forbes

Tech startup founders tend to live in the future, seeing future developments that most can’t yet perceive as achieved facts. The same is true, apparently, of venture capitalists.

DNT: A visionary? Quite possible, considering that the 30.000 BTCs bought for $20 million in 2014 are now valued at  $215 million.

FAO: Draper purchased the BTCs in 2014, in an auction organized by the US Marshals.

Deals, Investments & M&As

NextBlock, A Cryptocurrency Venture-Capital Fund, Scraps IPO Plan

The Star

NextBlock Global, whose chief executive is business author Alex Tapscott, said it is “no longer doing a go-public transaction” and is in the process of reaching out to investors to discuss next steps, including the return of their original investment.

Cryptocurrencies

A Major Vulnerability Has Frozen Hundreds Of Millions Of Dollars Of Ethereum

Jon Russell – TechCrunch

A vulnerability found within a popular wallet has frozen potentially hundreds of millions of dollars of the crypto currency in a second setback in recent months. Parity Technologies, the company behind widely used wallet service Parity, disclosed an issue that could enable the contents of a wallet to be wiped.

FAO: Now that’s a pain…

Bitcoin Proves Hard To Kill In China

Gabriel Wildau – Financial Times (subscription)

Chinese investors are still trading bitcoin and buying ICOs, suggesting authorities in Beijing are struggling to clamp down on cryptocurrencies just weeks after announcing that public exchanges would be shut down.

DNT: The OTC markets are flourishing on this…That shows how big is the impact of cryptos over the people.

FAO: We had several editions (check here or here) with related content. Chinese exchanges have quickly reacted and changed business models or moved to friendlier jurisdictions. This phenomenon can’t be stopped, and probably the Chinese government will soon act accordingly. No, a state-issued/owned cryptocurrency is not the right answer…

‘Buy Bitcoin’ Overtakes ‘Buy Gold’ As Online Search Phrase

Eddie Van Der Walt – Bloomberg (subscription)

According to Google Trends, global searches for “buy bitcoin” have overtaken “buy gold” after previously exceeding searches for how to purchase silver.

DNT: Wow…BTC is definitely mainstream now…and an important contribution have the recent statements of its contenders.  

Money Manager VanEck Launches Cryptocurrency Price Indices

Stan Higgins – CoinDesk

New York-based VanEck announced that it is partnering with UK data firm CryptoCompare to launch the indices, which include several that focus on specific cryptocurrencies like bitcoin and ether, as well as others that trace the movements of multiple assets. The indices are being managed through MV Index Solutions, a company owned by VanEck.

Vendors

Japanese City Attracts Cryptocurrency Miners With Abundant Renewable Energy

Kevin Helms  – Bitcoin.com

The government of a Japanese city known for its renewable energy and low temperature in the wintertime is attracting cryptocurrency miners to use its clean electricity. One company has already announced that it will open “the first clean energy-based Japanese mining center” in the city to mine 10 cryptocurrencies including bitcoin.

BitPeople

How To Get A Job Working With Bitcoin

Kari Paul – MarketWatch

Job site Freelancer said cryptocurrencies have been one of the fastest growing online jobs this year, with 82% growth in the last three months alone. Cryptography, the practice of code breaking central to bitcoin and other cryptocurrencies, has also seen a 59% increase in interest on the site in the third quarter.

Regulation

Malaysia’s Securities Watchdog Plans Cryptocurrency Regulations

Sujha Sundararajan – CoinDesk

Malaysia’s securities regulator has revealed it is planning a regulatory framework for cryptocurrencies.

The chairman of Securities Commission Malaysia Tan Sri Ranjit Ajit Singh, explained that SC is working on “relevant regulations and guidelines” for functional use cases of digital assets. These include “secondary market trading of established cryptocurrency and digital assets” in the capital market, he said.

FAO: We will watch their attitude and make any adjustments to our Crypto-Teams BDN Global Outlook, if needed.

Cyprus SEC Plans Blockchain-Based Electronic Payment System

Lisa Froelings – The Cointelegraph

The Cyprus Securities and Exchange Commission has announced that it intends to integrate Blockchain to its electronic payment system. The financial regulator has signed a partnership with the Blockchain Technology for Algorithmic Regulation and Compliance Association to develop and introduce the Blockchain technology mechanism.

Other news

Kaspersky Discovers Crypto Shuffler Trojan Malware

Rachel McIntosh – Finance Magnates

A piece of malware, recently discovered by Kaspersky, has been designed to simply replace a wallet’s address with its own address in the device’s clipboard when an address has been copied. So-called “clipboard hijacking” attacks that redirect users to malicious websites and target online payment platforms are rather old hat at this point–that is, they have been around for some time.

FAO: I remember we have reported quite a lot of security attacks in the “cryptoverse” back when we launched our bulletin. Means things are starting to move in cyber security…

UPS Dives Into Blockchain Technology As Trucking Companies Seek To Evolve

Michael Sheetz – CNBC.com

United Parcel Service announced it has joined the Blockchain in Trucking Alliance, the latest logistics company taking a closer look at the platform’s offerings.

IBM Touts Blockchain To Track Pot Industry From ‘Seed to Sale’

Doug Alexander – Bloomberg (subscription)

IBM CORP is touting blockchain as the supply-management tool of choice for an unusual industry — cannabis.

Opinion

Four Reasons Why Maybe, Just Maybe, This Isn’t A Bitcoin Bubble

James Titcomb – The Telegraph (subscription)

It took 1,789 days for bitcoin to go from $0 to $1,000, 1,271 days for $1,000 to $2,000, and just 13 days between $6,000 and $7,000, its latest milestone.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News