Daily News Digest Featured News

Monday February 26 2018, Daily News Digest

ethereum block growth difficulty
Source: VentureBeat

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News Summary

United States

Nearly Half of 2017’s Cryptocurrency ‘ICO’ Projects Have Already Died (Fortune), Rated: AAA

We here at Fortune have cast a curious but frequently skeptical eye on ICOs, which from the get-go were ripe for scams. It turns out that skepticism was well warranted: cryptocurrency news site Bitcoin.com has surveyed last year’s ICOs and found that of 902 tracked by TokenData, 142 failed before raising funding, and another 276 failed after fundraising.

That’s a 46% failure rate — but wait, there’s more. Bitcoin.com found another 113 projects that it calls “semi-failed,” because their teams have gone off the radar or their community has withered away. Add those, and the failure rate jumps to 59%. Bitcoin.com says the total funding of failed projects from 2017 was $233 million.

As many as 75% of all startups backed by traditional venture funding fail, and 30 to 40% of those take all of investors’ capital with them. Out of all new companies started in the U.S., a little over 20% fail in their first year.

The real cost of mining Ethereum (VentureBeat), Rated: AAA

A reasonable cost of power is approximately 10 cents per kwh. This is below the national average for retail power rates in the U.S. To run a mining rig you will likely pay at least 10 cents per 1,000 watts run for each hour. This means one full day of mining comes with an electricity cost of $2.40. We will also use the block reward and block difficulty from January of 2018 as our base point. And we assume mining with a single rig is only reasonable when working with a mining pool. Some mining pools take up to 10 percent of your earnings, but some of the best only take 1 percent. For that reason, we’ve pick a modest 1.5 percent.

ethereum mining costs
Source: VentureBeat

Using the growth of block difficulty, we can calculate that over a period of one year, the difficulty factor will grow from 2,280,210,891,539,710 to 11,880,071,363,893,300.

ethereum block growth difficulty
Source: VentureBeat

Using CoinWarz’s mining profitability calculator, we can plug in a growing block difficulty to see that the profit per day goes from $18.24 to $1.60 in just one year. The calculator uses the following inputs: hash rate (MH/s), power (Watts), power cost ($/kWh), difficulty, block reward, pool fees, ETH/BTC value, BTC/USD value, and hardware costs. For our predictive profit function, we plugged a point into the calculator once every month and assumed a linear fit in between each point.

According to this calculator, if you started mining in January 2018, a year and a half in (day 476) you would start losing money since your Ethereum mining rig would cost more to run than it would generate in profit (again, assuming a static price in Ethereum).

The total profit you would have accrued by the end of your mining rig’s profitable run would be $2,916.59.

ethereum mining profit
Source: VentureBeat

Bitcoin Debate: Warren Buffett Bear Vs. Winklevoss Twins Bull (Forbes), Rated: AAA

There are two distinct views on Bitcoin and cryptocurrencies. One view is that they will flame out and most, if not all, will become worthless . The other side is that at least some are destined to become much more valuable and become engrained in not just the world’s financial markets but potentially everyday life. Investors and executives who believe cryptocurrencies “won’t end well” or are a fraud include Warren Buffett and Jamie Dimon, respectively. The Winklevoss twins and Fundstrat’s Head of Research Tom Lee believe that Bitcoin can reach $300,000 and $125,000, respectively.

Bitcoin Fees Drop: Why It Happened And What It Means (CoinDesk), Rated: A

The average cost of sending a bitcoin transaction is cheaper than it’s been in a year and a half, showing the price isn’t the cryptocurrency’s only unpredictable metric these days.

$26 down to $3.

bitcoin transaction fees
Source: CoinDesk

How The US Government Handles Its Massive Stash Of Bitcoins (Investopedia), Rated: A

At least $1 billion worth of digital coins and possibly much more has spent time in the custody of U.S. law enforcement. As a result, the U.S. Marshals Service, which is responsible for sales of the confiscated bitcoin, has become a major player in cryptocurrencies.

Crypto Price Volatility Is Messing Up The Government’s Plans

The average sale price for bitcoins at the auctions held by the Marshals Service between June 2014 and November 2015 was $379 per token. Venture capitalist Tim Draper (pictured below) struck gold during the auctions by purchasing 30,000 coins at an estimated price of $18.5 million. At current prices, his stake is worth $300 million. That’s not a bad return for an investment of roughly 2.5 years.

The average sale price for bitcoins at the auctions held by the Marshals Service between June 2014 and November 2015 was $379 per token. Venture capitalist Tim Draper (pictured below) struck gold during the auctions by purchasing 30,000 coins at an estimated price of $18.5 million. At current prices, his stake is worth $300 million. That’s not a bad return for an investment of roughly 2.5 years.

Fortune found that 322 bitcoins were seized from a marijuana dealer in Texas in 2014, but there is no record of their sale. Effectively, this means that 322 bitcoins within the cryptocurrency’s network could belong to addresses that have not transacted for a long time. In the end, they might even drop out of circulation.

New Bitcoin Embassy Opens in the United States (Bitcoin.com), Rated: A

A mooted Bitcoin Embassy is the first of its kind, since an early attempt in New York City, for a bitcoin gathering place. It was American Institute for Economic Research (AIER) Editorial Director Jeffrey Tucker who had a revelation of sorts to establish a Bitcoin Embassy in the United States. The idea is to bring cryptocurrency enthusiasts together. Promising a welcoming environment staffed by people who can help with wallet recovery, other folks who’re curious about a new technology, seminars, and even a place for Dilly Dilly and wine, this could be the start of something big.

Georgia Becomes Latest State to Consider Bitcoin for Tax Payments (CoinDesk), Rated: B

Two state senators in Georgia have proposed a bill that would allow citizens to pay their tax obligations in bitcoin, marking the second legislative effort of its kind to emerge this year.

Bitcoin ATMs in Detroit party stores, gas stations (Detroit News), Rated: A

The 23 Bitcoin automated-teller machines in Detroit are installed in places like the Big V Party Store on the northwest side. Signs outside the Big V prominently advertise its goods and services: check-cashing, money orders, liquor, Lotto tickets — and since last year, an ATM dedicated to the so-called future of money.

All the Bitcoin ATMs in Detroit are in low-income areas, and they represent uncharted ground for this new currency that exists only in cyberspace. Advocates say the machines merely fill a financial void in neighborhoods that banks and traditional lending institutions largely ignore. Security analysts and law-enforcement officials say they are tools for small-time money-laundering.

This 11-year-old just wrote a book on bitcoin that hopefully a kid can understand (CNBC), Rated: A

Courey is the author of “Early Bird Gets The Bitcoin: The Ultimate Guide To Everything About Bitcoin,” which he self-published for the Amazon Kindle in January. The e-book sells for $2.99, and the paper copy, just released, costs $9.99.

Elon Musk Just Revealed the Surprising Amount of Bitcoin He Owns (Money), Rated: A

“I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago,” Musk said in a tweet on Thursday. That’s about $2,552.42 as of Friday afternoon (Bitcoin values fluctuate constantly).

Meet the strippers tattooed with BARCODES so sneaky punters can tip in Bitcoin without their partner finding out (The Sun), Rated: A

The Legends Room is the first to make the innovative move which enables regulars to pay secretly with a cryptocurrency like Bitcoin.

The club’s pole dancers are tattooed with QR codes so they can be paid electronically.

 

How To Bet On Blockchain Without Buying Cryptocurrencies (Forbes), Rated: A

However, investing in blockchain may be like buying Google at its IPO. We have a couple of ways for you to get exposure to this emerging technology without experiencing sleepless nights, or at least not too many of them.

One of the most popular proxies for cryptocurrencies and blockchain has been an e-commerce company called Overstock.com. The firm has been around a long time and competes as a discount online retailer — think of it as a poor man’s Amazon.

The company is transforming itself into the blockchain currency leader by investing in a number of the early crypto adopters. As a result, the stock was driven up from $13.75 to a high of $89.80 before the recent correction.

There are two far less risky ways to get some exposure to bitcoin but of course, the rewards may not be as dramatic. Ark Innovation ETF and Ark Web x.0 ETFare new funds that each have 10% bitcoin exposure and a lot of high tech content as well.

Investigations Pick Up As Cryptocurrency Worries Permeate SEC (Forbes), Rated: A

The SEC’s Enforcement Division already has many cryptocurrency investigations going on, says Enforcement Co-Director Stephanie Avakian. Meanwhile, SEC Chair Jay Clayton predicts there will be more enforcement actions unless players in the industry change their behavior.

A Dallas House Is For Sale Using Cryptocurrency (Texas Monthly), Rated: A

One company that is attempting to provide a hard-and-fast answer to that question is the California-based Property Coin. Their cryptocurrency, which launches later this month, is the rare coin with a hard asset backing it: real estate. To help explain how that might work, they’ve got a house in Northwest Dallas that they’re listing as for sale—to buyers paying with Property Coin, Bitcoin, or Ethereum (as well as old-fashioned Yankee dollars).

The property, at 3220 Northaven Court, has been on the market before. It was initially listed in 2015 at $254,900, and has been listed and unlisted a few times in the past three years, according to records from Zillow, with its most recent appearance in December. But when it hits the market again in April, the price might be closer to 33.7 Bitcoin.

Montana Will Build $ 251 Million Cryptocurrency Mining Farm (Investopedia), Rated: A

Power Block Coin LLC is getting into crypto mining in a major way, as it prepares to launch a $251 million cryptocurrency mining farm outside of Butte, Montana, according to a report by newsbtc.com.

Bank of America just showed how terrified Wall Street is of cryptocurrencies (Business Insider), Rated: B

In a lengthy, 13,000-word regulatory filing late Thursday, the US’ third-largest bank by assets mentioned cryptocurrencies three times in the document’s risk factors section.

“The widespread adoption of new technologies, including internet services, cryptocurrencies and payment systems, could require substantial expenditures to modify or adapt our existing products and services as we grow and develop our internet banking and mobile banking channel strategies in addition to remote connectivity solutions,” the bank said.

3 Reasons Why Starbucks Will Accept Ripple (XRP) in 2018 (CryptoNews), Rated: A

  1. Negligible transaction fees. Current fees for sending XRP are so low–and will continue to be low enough–that fees are essentially nonexistent. 0.00001 XRP is consumed during each transaction. Compare that to Bitcoin, with fees hovering around 4-5 USD, Ethereum ~1 USD and Litecoin 0.30 USD.
  2. Under 10 second confirmations. Ripple has transaction times under 10 seconds (aiming for under 5 seconds), which immediately puts them into the conversation of Visa-like usability.

For a company like Starbucks to dip into cryptocurrency, it would require significant market interest and some benefit to the customer base.

One of underappreciated benefits of LitePay as a processor for merchants, is the 1% transaction fee.

Chris Larsen Of Ripple (XRP) @Google (ValueWalk), Rated: A

Chris Larsen founder of Ripple (XRP), and (very ) briefly one of the richest people in the world, talks at Google on Published on Feb 23, 2018 – topics of course include Ripple, Blockchain, Bitcoin and related cryptocurrency topics.

Litecoin’s February breakout might have had a lot to do with the announcement that Litepay — a Litecoin payment system — will become available in 41 countries on Monday, February 26. The payment method, which was first announced on December 2017, promises to allow businesses and individuals to use Litecoin for everyday transactions.

Its price spiked to a high of $252 this Tuesday, but at 4 p.m. Eastern Friday the cryptocurrency’s value has settled to $203.

THIS STARTUP IS CHALLENGING MECHANICAL TURK—ON THE BLOCKCHAIN (Wired), Rated: A

Amazon Mechanical Turk have become infamous for pocketing 20 percent fees on microtasks that pay an average wage of $2 per hour. Now, two entrepreneurial brothers think they can rehabilitate a corner of the gig economy with blockchain technology—and they’ve just raised just over $60 million to do so.

Gems is the brainchild of Rory and Kieran O’Reilly, brothers who dropped out of Harvard in 2014 to cofound gifs.com and soon found themselves under the tutelage of the Thiel Fellowship.

With So Many ICO Choices, Here’s How to Pick a Profitable One (USACommerce), Rated: A

Request Network (REQ), for example, just had its first token sale in October. Since then, it’s added 580% to its ICO price of $0.049.

There are a ton of other examples. EOS (EOS) has gained 826% since its ICO, Stratis (STRAT) has surged 105,638% higher since its first sale, and Lisk (LSK) is up nearly 30,000%. For those of you out there who picked these ICOs over the sea of other options, congratulations.

Where to find an active ICO

Investing in ICOs and token sales (meaning coins like ERC20 and NEP-5 tokens) is all about timing.

You can scan through current active sales on:

What to pay attention to:

  • Underlying product: A good cryptocurrency investment is more than just a cryptocurrency – it is all about the technology that the coin enables.
  • Scores: Some places where you can find ICO reviews are: ICO Bench, ICO Marks, and ICO Rating
  • Performance: How many coins have already been sold? How does that look against how much time is left on the clock? If ICOs get close to the hard cap quickly, that shows there will be a high level of demand for this coin once it hits the exchanges.
  • Roadmap: It will give you an idea of the timeline of events, and when you can expect the coin/product to become commercially available.
  • Team: Strong coins have a strong and well-rounded team to back it up.

Before You Launch an Initial Coin Offering, You Need to First Build a Community (Entrepreneur), Rated: A

Since the beginning of 2018, there has been an onslaught of condemnation against the various ICOs that are little more than scams. Investors, and the financial community at large, now want crypto applications to offer more than just hypotheses and white papers; they want proof of value for those applications.

Blockchain businesses, in particular, must build a community to give novice consumers the resources and support they need and connect them to those already familiar with the product and concept.

 

Crypto Platform Uphold Acquires Mobile Payments Firm Cortex MCP (BlockTribune), Rated: B

Cryptocurrency platform Uphold has acquired mobile commerce and authentication firm Cortex MCP to strengthen its digital money platform with secure payment applications, leveraging Cortex’s mobile wallet technology.

California Bill Extends Electronic Record Definition to Include Blockchain Signatures (BTCManager), Rated: B

Ian Calderon, a California lawmaker, introduced a bill named Assembly Bill 2658 on February 15, intending to make blockchain signatures and smart contracts legal. The Assembly Member proposed to update state’s electronic record laws by incorporating blockchain signatures and smart contract as part of the legislation. If the bill is passed, it will fall under the Uniform Electronic Transaction Act.

 

United Kingdom

Government denies it is about to launch its own digital currency (Independent), Rated: AAA

The UK Government has denied that it is planning to issue its own version of bitcoin.

But the plan hasn’t been entirely ruled out, and the Bank of England is actively watching the potential impact of a government introducing its own digital currency.

These cryptocurrency ‘forks’ could beat price rise of Bitcoin, Ethereum, Litecoin and Ripple (Love Metro?), Rated: A

Thomas Lee, an analyst with Fundstrat, said forked cryptocurrencies could prove to be a good investment. ‘Tokens with upcoming forks and airdrops have outperformed bitcoin by 4.8% since the peak of altcoins,’ he wrote in a briefing note, according to Fortune.

A new currency called Bitcoin Private will fork from two blockchains – Bitcoin and ZClassic – on February 28, combining both blockchains by ‘co-forking’.

On March 1, a fork from Ripple will form a currency called Onology. Callisto will be created in a fork from Ethereum Classic on March 5 and MoneroV from Monero on March 14.

Lendingblock announces ICO pre-sale (Coinspeaker), Rated: B

Lendingblock, the first/only cross-blockchain securities lending platform for cryptocurrency, has today announced that its ICO pre-sale will go live at 15.00 GMT on the 9th March 2018, ending at 15.00 GMT on March 30th. 450,000,000 LND tokens will be allocated during the pre-sale, which is 45 percent of the total available, including the 20 percent bonus.

Charities will be charged £40 at most by new ICO fee structure (Third Sector), Rated: B

The maximum fee that charities will be required to pay the Information Commissioner’s Office under its new fee structure will be £40, the data watchdog has confirmed.

 

China

Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year (CNBC), Rated: AAA

Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, the analysts calculate that Bitmain made $3 billion to $4 billion in operating profit in 2017. Bernstein’s U.S. semiconductor team estimates Nvidia’s operation profit was $3 billion during the same period.

Bank of China Moves to Patent Blockchain Scaling Solution (CoinDesk), Rated: A

Bank of China, one of the four largest state-owned commercial banks in the country, has filed a patent application for a process it says is better able to scale blockchain systems.

The application details that, instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a “data block.”

European Union

Ethereum will soon test sharding tech to fix scaling issues, Vitalik Buterin hints (The Next Web), Rated: AAA

Vitalik Buterin has made it clear that designing more efficient scaling solutions is one of the biggest challenges for the Ethereum blockchain – and it seems the company is gearing up take on this hurdle head-on. Buterin has indicated the company will soon begin testing its new scaling tech better known as sharding.

Ethereum Classic (ETC) Scheduling A Liftoff With Callisto (CLO) Airdrop (CryptoNews), Rated: A

The other coin doing somersaults in the upward direction is Ethereum Classic (ETC) which was around $14.34 on the 6th of February. It is now trading at $36.28 after peaking at $43.96. This is a 152% increase to date and using the value on the 6th of February. When you use the peak value, it is a 206% increase in 17 days.

Ethereum Classic (ETC) is doing astronomically well in the markets due to the Callisto (CLO) Airdrop announcement by the coin’s development team who are working on the Callisto Network Project. The ratio of the Airdrop is 1:1 and will happen after the 5,500,000 block of the Ethereum Classic ledger. We are currently on block 5,440,755. The targeted block will be reached on or before March 5th according to my research.

Ethereum Governance ‘Not That Bad’ Says Buterin Amid Fund Debate (CoinDesk), Rated: B

Ethereum’s governance model isn’t flawed, it’s just badly communicated, the cryptocurrency’s creator Vitalik Buterin said in a developer meeting Friday.

High Stakes: Ethereum’s Fight Over Lost Funds Explained (CoinDesk), Rated: A

Sparked by a controversial code proposal called EIP 867, ethereum’s development forums have become something of a battleground, crowded with bitter commentary, snide pull-requests and coordinated attempts to erase the idea from the platform’s repository.

For those unfamiliar, the conflict surrounds an effort to make it easier for ethereum users to reclaim lost ether (ETH), the network’s cryptocurrency (now valued at $870), outlining a process by which such requests could be submitted in a clear and executable format to those who maintain the technology.

 

Eidoo Brings a Hybrid Exchange and Multicurrency Wallet to the Cryptocurrency World (The Merkle), Rated: AAA

The Swiss-based startup Eidoo has solved this problem by creating a mobile app that serves as a multicurrency digital wallet for Bitcoin, Ethereum and all ERC20 tokens. Additionally, Eidoo functions as a hybrid exchange, allowing users to sell, buy, spend and convert cryptocurrencies on one platform.

Archos Shocks the World by Announcing a Cryptocurrency Hardware Wallet (The Merkle), Rated: A

Most people would never expect a popular company such as Archos to pay any attention to cryptocurrencies. Although it makes a lot of sense for any company to keep tabs on different markets, Archos had not shown any interest in Bitcoin or other cryptocurrencies up to this point. This makes it all the more surprising to hear not only that the company has devised a plan to create a cryptocurrency hardware wallet, but that it seems to be entering production as of right now.

Ledger is working on new native apps for its cryptocurrency hardware wallet (TechCrunch), Rated: A

French startup Ledger is making some of the most secure cryptocurrency hardware wallets out there. But the company’s apps aren’t that great. That’s why the company announced that Ledger has been working on brand new native apps for all desktop and mobile platforms.

Culprits Apprehended In Alleged Icelandic Bitcoin Miner Theft (CoinTelegraph), Rated: A

Icelandic information technology service Advania has confirmed with their security footage that the police have apprehended the right two men for the three burglaries at data centers in Iceland last December and January, local news outlet Visir reported Feb. 21.

Several of Advania’s data centers are designed specifically for Bitcoin (BTC) mining, and Iceland as a country has become a hotspot for crypto miners drawn to the naturally cold climate and access to renewable sources of energy.

Nokia Launches Blockchain-Powered IoT Sensing as a Service for Smart Cities (Bitcoin.com), Rated: A

Nokia is launching a set of services, based on Internet of Things (IoT), data analytics, and blockchain technologies, for economically and environmentally sustainable “smart cities.”

Nokia’s Sensing as a Service (S2aaS) provides intelligent analytics on environmental data gathered from IoT-connected sensors, which operators can sell to cities and other authorities. Nokia envisions IoT-based, real-time monitoring systems able to provide timely environmental information for smart city management. For example, S2aaS will detect unusual environmental behavior like illegal construction, trash burning or unusual particles in the air.

International

The Seven Key Signs of an ICO Scam (CryptoSlate), Rated: AAA

Many of these scams operate in a similar manner to multi-level marketing or Ponzi schemes, such as Onecoin, which duped investors out of $350 million USD and culminated in the arrest of the creators.

ICOs
Source: Fabric Ventures
  • Poor Online Presence – The Empire Card ICO, for example, was caught red-handed using an image of French actress Sabine de Poncins as the CEO of the platform as “Patricia Harrison”. A legitimate ICO will provide a wide range of social media links and places in which investors can interact with developers.
  • Guaranteed Profits – BitConnect is arguably the most well-known instance of an ICO that promised guaranteed profits only to be revealed as a Ponzi scheme.
BitConnet
Source: CryptoSlate
  • Solutionism – When assessing an ICO, it’s important to consider whether the aim of the platform could be achieved using existing cryptocurrencies. Even platforms such as Steemit, which boasts a modicum of success, could probably operate with existing cryptos.
  • Empty GitHub Repositories
  • No White Paper, Bad White Papers, or Blatantly Plagiarized White Papers – White paper plagiarism is becoming increasingly common in the ICO industry as well. The DADI ICO was called out earlier this year for plagiarizing their white paper from the SONM whitepaper by the SONM creator himself.
  • Shady Premines – The Paycoin ICO, for example, reserved the majority of tokens generated for the development team and resulted in the founder being found guilty of operating a $9 million dollar exit scam.
  • No Roadmap or Unrealistic Roadmaps – No roadmap, no code commits to a repository, and a poorly-written or nonexistent white paper are the unholy trinity of a fraudulent initial coin offering.

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that (CNBC), Rated: A

If blockchain technology is going to revolutionize how we transact with each other, computer scientists need to solve one big problem: It can consume way too much energy.

Innovators from top institutions such as M.I.T. and Cornell University and tech titans such as IBM and Intel are developing a number of “green” blockchain innovations to address demand by businesses for blockchain that streamlines transactions of all sorts.

Here’s how much it costs to mine one single bitcoin in 115 different countries across the world from CNBC.

Oil Buyers Ditch Paper for Blockchain to Track Tanker Sales (Bloomberg), Rated: AAA

The bill of lading is the document that verifies ownership of a commodity that can be worth more than $122 million per ship. Without it, buyers and sellers who trade $2.7 billion of crude daily are unable to do business in an ocean-going tanker market that supplies almost half of the oil consumed globally.

Oil buying blockchain
Source: Bloomberg

A consortium — including oil producers BP PlcRoyal Dutch Shell Plc and Statoil ASA, commodity traders Gunvor Group Ltd., Mercuria and Koch Supply & Trading, and lenders ING Groep NV, ABN Amro Bank NV and Societe Generale SA — has been developing a blockchain-based platform for physical oil trades.

Un-’block’ your business 1.0: Which blockchain initiatives are taking off first and why? (Finextra), Rated: A

Just to provide a scale of projects / programs that don’t survive beyond POC, Deloitte recently published insights on this that indicates only 8% of the 27,000 (approx.) blockchain projects in 2016 survived or remained active. Even of these 8%, many would not be making to enterprise grade solutions.

Why are organizations experimenting with blockchain?

The first category of blockchain applicability in creating efficiencies is broadly in two areas – streamline existing processes and using its tamper proof audit capabilities for automatic regulatory compliance.

7 Facts You Didn’t Know About Blockchain (The Motley Fool), Rated: B

  1. Companies are already working on blockchain-based identification. Microsoft (NASDAQ: MSFT) and Accenture recently teamed up to create a prototype ID system for a United Nations project aimed at providing legal identification to more than 1 billion people in the world.
  2. Not many IT industry leaders are implementing blockchain just yet. Just 13% of senior IT leaders say that they have a clear plan to use blockchain for their business, according to a survey by IDG Connect.
  3. It could save banks billions of dollars.
  4. Blockchain technology could revolutionize medical record keeping. But some companies, like Israel-based Proof Work, want to create a blockchain where patients can easily access their own personal medical records without having to contact any doctors’ offices.
  5. Blockchains can help with food recalls. 
  6. The Internet of Things (IoT) could thrive using blockchains. IoT devices are expected to reach 50 billion by 2020.
  7. The global blockchain technology market is growing fast. The blockchain market was worth about $317 million in 2015, but it’s expected to grow to $20 billion by 2024, according to Transparency Market Research.
India

Indian Crypto Exchange Zebpay Adds Ethereum Support (Bitsonline), Rated: AAA

Zebpay, India’s cryptocurrency exchange, has added support for ethereum in their mobile application. 

Asia

South Korea May Legalize Bitcoin Soon (Smartereum), Rated: B

It seems like the government of South Korea is consistently evolving its opinion when it comes to Bitcoin. Recently, there are indications that South Korea will consider Bitcoin as a liquid asset.

Eurasia

Liberland to Issue Its Own Cryptocurrency, Accepts Bitcoin, Bitcoin Cash And Ethereum (CCN), Rated: A

Liberland, a self-proclaimed country between Serbia and Croatia that has been struggling for its independence for three years, plans to launch its own cryptocurrency in a few months, and is accepting donations in bitcoin, Bitcoin Cash and Ethereum. Half a million people have applied for Liberland citizenship.

MENA

Uzbekistan to Legalize Bitcoin and Support Developers (Bitcoin.com), Rated: A

A new decree signed by President Shavkat Mirziyoyev states that Uzbekistan institutions should finalize a draft law to legally regulate cryptocurrencies, or “electronic money”, by September 1. The Central Bank, the Ministry of Information Technologies and Communications, the Finance Ministry, and the Ministry of Economy have been tasked to prepare the bill, Vzglyad reports.

Canada

Calgary reno company could be 1st in Canada to accept Bitcoin, Ethereum payments (CBC News), Rated: A

“We are of the opinion that blockchain is the future,” said Blair Foisy, the owner of Trademark Renovations, in an interview on Saturday.

The luxury renovations company will be accepting Bitcoin (BTC) and Ethereum (ETH) for customers that would rather pay with via blockchain than with the Canadian dollar.

Africa

Scammers Offering Jobs in Exchange For Non-Existent Digital Currency In Bulawayo (TechZim), Rated: AAA

One such scam is taking place in Cowdray Park, Bulawayo as an organisation operating under the name Sound Prosperity is offering people cleaning jobs in one of the schools in the Cowdray Park area.  Job seekers are required to sign a form with terms and conditions before being allowed to work. This form outlines that anyone looking for a job is required to pay a non-refundable $5 dollars that will be used to open a SPURT account. The form also outlines that workers will be paid 10SPURT/hour and will be allowed to work a maximum of 2hrs per day.

Latin America

Venezuelan Government Opens School to Teach Citizens About Cryptocurrencies (Bitcoin.com), Rated: AAA

The Venezuelan government has opened “a training centre to teach its citizens about cryptocurrencies” in its capital city, Caracas, Telesur TV reported on Saturday.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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