Blockchain Daily News – Edition 97, 17.11.2017
November 17, 2017
Blockchain Daily News – Edition 99, 21.11.2017
November 21, 2017

Blockchain Daily News – Edition 98, 20.11.2017

Blockchain Daily News

by Florin Oprea

Edition 98, 20.11.2017

Deals, Investments & M&As

CoinList Plans Future of One Stop Funding With Compliant ICOs

JD Alois – Crowdfund Insider

CoinList has big plans for the future of early stage funding using digital tokens. Following the blowout success of Filecoin, an In ICO that saw an astounding $200+ million raised, CoinList quickly regrouped and revamped its platform to prepare for more ICOs. The second ICO has been launched on CoinList as BlockList is seeking $44 million – an amount that seems trivial in contrast to the funding raised for the inaugural offer.

DNT: Filecoin ICO was an outstanding success, reported here. It raised more than $257 million over a month of activity. In comparison, the target of this second ICO seems like a “little brother” but it shows that funding using digital tokens is “on the wave” and  CoinList remains a  project to be watched.

Coinbase Custody Targets $10 Billion In Institutional Funds For Bitcoin Investment

Joseph Young – The Cointelegraph

Coinbase’s Custody Service Wants To Store Bitcoin For Institutional Investors

Fitz Tepper -TechCrunch

Safely investing in and storing digital currency isn’t exactly easy, especially if you’re a large institutional firm. So to help, Coinbase announced that they’re launching a service called Coinbase Custody, which will securely hold digital assets for institutional investors. This service will be available to funds willing to store $10 million or more of digital currency with Coinbase, and will have a $100,000 initial set up fee along with a storage fee of 10 basis points (.10 percent) per month.

DNT: Oh, this is an important step that could give a big impulse to Wall Street entrance in cryptoverse  investing. The service will provide also useful features for the institutional investors who will be able to have multiple signers, audit trails and withdraw limits.

Lightning Labs Performs Instant Atomic Swap Between Bitcoin And Litecoin

JP Buntinx – The Merkle

Cross-chain atomic swaps have been of great interest to cryptocurrency users for some time now. In most cases, these swaps are performed between different blockchains using old-school techniques. Lightning Labs has announced it has come up with a new way to facilitate Lightning cross-chain atomic swaps between Bitcoin and Litecoin

Cryptocurrencies

Hong Kong’s Bitcoin Businesses Suffer After Local Bank Accounts Frozen

Harminder Singh – SCMP

Hong Kong’s bitcoin entrepreneurs say they have been forced to open bank accounts overseas to operate their businesses, after local banks froze or closed their accounts, threatening the city’s push to become a fintech hub.

DNT: Ups, not good…

Litecoin Continues Its March Toward $75

JP Buntinx – The Merkle

It appears the Litecoin uptrend is here to stay. A few weeks ago, it seemed unlikely that this altcoin’s price would surpass US$55 on a permanent basis. Right now, a rise to US$75 isn’t out of the question.

DNT: Litecoin had a price of $71.74  at the time of writing,

Overstock Announces Alaska As State Conducting Most Cryptocurrency Purchases

Samuel Heig – Bitcoin.com

Overstock has revealed the five states that conduct the most purchases using cryptocurrencies. The states are Alaska, Delaware, Oregon, Wyoming, and Hawaii – which many have found surprising, considering that said states are not seen as fintech hubs.

Exchanges & Trading Venues

Bitfinex Struggles With Money Withdrawal, Community Observers Predict MtGox Scenario

Jon Buck – The Cointelegraph

Several observers from the Bitfinex community are pointing out severe problems with money withdrawal on the exchange, which might lead to it becoming “the next MtGox”. The risk may be related to the connection between Tether and Bitfinex and the concerns regarding redacted information that would normally be included in an audit.

DNT: A MtGox scenario for Bitfinex sounds more than worrying..It remains to be seen.

Bitfinex Allegedly Nears SegWit Integration

JP Buntinx – The Merkle

It seems Bitfinex is one step closer to finalizing its SegWit upgrade. According to a recent tweet by Chris Ellis, the SegWit integration with Bitfinex is almost complete. He claims it may roll out as early as next week, even though it remains to be seen whether that timetable is achievable. After all, the company has been relatively quiet about its progress in this area so far.

DNT: SegWit is extremely important for BTC network in order to face attacks and other types of spam transactions. A proof is the strong debate about its implementation. Regarding this, we reported last month the guidances issued by Coinbase and Bitfinex before SegWit2X Hard Fork.

First Long-Term LedgerX Bitcoin Option Pegs Price at $10,000

Michael del Castillo  – CoinDesk

LedgerX initiated its first long-term bitcoin futures option. Called a Long-Term Equity Anticipation Security the trade was matched by the platform on Saturday and is set to expire on December 28, 2018.Under the terms of the deal, the buyer has the right to buy bitcoin at a price of $10,000 at that date, or almost a 30% premium on actual price.

DNT: CFTC has granted to LedgerX the license to clear and settle derivative contracts for digital currencies at the end of July: read here in Exchanges & Trading Venues category. At the beginning of the same month CFTC also had granted to the New York-based blockchain startup its formal registration as a swap execution facility (SEF) – more details here.

Japanese Publicly Listed Companies Launch Cryptocurrency Exchanges In South Korea

Kevin Helms – Bitcoin.com

Two Japanese companies listed on the Tokyo Stock Exchange (Ed. note: Remixpoint and Metaps) have recently expanded their cryptocurrency operations into South Korea. One has partnered with a local company to launch a bitcoin exchange with a plan to add merchant services. The other held an ICO to develop a crypto exchange after launching a mobile game which allows users to earn bitcoin.

DNT: Remixpoint operates the bitcoin exchange Bitpoint in Japan. The cryptocurrency exchange launched in South Korea is called Bitpoint Korea. The korean subsidiary of Metaps raised approximately 1.1 billion yen in a token sale last month to develop and operate a cryptocurrency exchange called Coinroom.

Quite surprisingly moves, considering that South Korea is in the “Against” Team in our Crypto-Teams BDN Global Outlook (last update here).

BitPeople

Ripple CEO And Ethereum Co-Founder Bash ICO Industry

Samuel Heig – Bitcoin.com

Ripple CEO and Ethereum Co-Founder, Brad Garlinghouse, expressed his belief that “a lot of what’s happening in the ICO market is actually fraud,” also mentioning the increasing number of ICOs facing litigation. Although concerned by the actions of many token sales, Garlinghouse expects that said fraudulent activity will “stop” once regulators catch up with the industry.

DNT:  Recently, Joseph Lubin, the other co-founder of Ethereum said the cryptocoins market is “totally a bubble” but he also  added that is a healthy signal.

EC Releases Report On Possible Blockchain Applications In Education

Joshua Althauser – The Cointelegraph

The European Commission has published a report on its study on the possible applications of Blockchain technology in the education sector. Among the things that were analyzed by the commission are the feasibility, challenges, benefits and risks of the use of the technology in schools and universities.

Latest Developments & Agreements

Nasdaq Files Patent For Blockchain-Based Asset Ownership Data Storage System

Joshua Althauser – The Cointelegraph

Nasdaq has filed a patent for a Blockchain technology-based asset ownership data storage system. The system uses distributed ledger technology to record the owner of an asset and employs digital wallets to enable an owner to access his/her assets.

ING Creates Wall Street Friendly Blockchain Solution

Jon Buck – The Cointelegraph

ING has announced the creation of a new financier-friendly anonymous proof called a ‘Zero-knowledge range proof,’ or ZKRP for short. The risks of security and privacy for financial institutions have kept many out of the Blockchain technology market. The new proof is designed to maintain anonymity while still confirming the accuracy of a transaction.

Over 20 Banks Join Singapore-Hong Kong Blockchain Trade Network

Sujha Sundararajan – CoinDesk

Members of the central banks of Singapore and Hong Kong have revealed that a number of banks have now joined their recently announced blockchain-based trade network.

Expected to launch by early 2019, the new network will now involve participation from over 20 global banks and financial institutions. The collaborative efforts of BSE Institute and DLT Labs aim at providing knowledge driven and best in class education and training in the field of fintech, especially Blockchain.

Internet Archive Adds Bitcoin Cash, Zcash to Donation Options

Nikhilesh De – CoinDesk

The Internet Archive, the digital library of internet artifacts and webpages, has added new cryptocurrency payment options for supporters wanting to help keep their servers running.

Events

Via Digital Journal – Dubai International Blockchain Summit – January 2018

Analysis

Here’s What You Need To Know About SAFTs — The Cryptocurrency Fundraising Craze That’s Shaking Up Venture Capital

Becky Peterson – Business Insider

DNT: Good analysis by Becky Peterson. Worth your time.

Opinion

Blockchain Technology Can Accelerate International Trade Flows, Say Industry Experts

Lisa Froelings – The Cointelegraph

According to IBM and WEF experts, Blockchain technology has what it takes to facilitate the workflow of cross-border trading transactions, particularly the handling of document approval processes.

 

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

DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News