Daily News Digest Featured News

Wednesday April 11 2018, Daily News Digest

best performing cryptos
Source: Bitcoin.com

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United States

International

European Union

United Kingdom

Asia

Latin America

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News Summary

United States

The Reason Why Coinbase Just Won’t Add Ripple (XRP) Any Time Soon (Global Coin Report), Rated: AAA

The reason behind the refusal is far simpler than you might think as it seems that the answer to this controversy lies in the “rulebook” publically published by Coinbase. The rulebook is freely describing what it takes for a coin to get listed on their exchange.

One of the most important factors for considering a coin for listing is to make sure that the coin is maximally safe and secure, while also being decentralized.

This is where Ripple meets a problem that prevents it from getting listed – XRP is not decentralized.

At the end of their statement they have added that they are not planning on adding any new coins on their exchange at the moment, as well as that in case they were planning the opposite, they would release the news in the public by themselves. The bottom line is not to trust the rumors. The dark side of this point is that it seems that XRP is not getting listed on Coinbase anytime soon.

Ripple [XRP] makes amendment announcement to all their users (AMBCrypto), Rated: A

Ripple announced earlier today about the availability of The DepositAuth and fix1513 amendments. This was followed by the new Rippled version 0.90.1 upgrade a few weeks ago which made it a compulsion for all the Rippled server users to upgrade to it immediately for the service continuity.

Operating an older server (below 0.90.0) will result in an amendment blocked server which:

  1. Cannot determine the validity of a ledger
  2. Cannot submit or process transactions
  3. Does not participate in the consensus process
  4. Does not vote on future amendments
  5. Could reply to potentially invalid data

Bitcoin: The Harder The Fall, The Higher The Rise: $ 35K By Q4 (Forbes), Rated: AAA

The cryptocurrency market has fallen under intense pressure during Q1 of 2018, with Bitcoin down just over 50% from the start of the year. Many Altcoins have also seen their fair share of declines, with the biggest losers correcting upwards of 90% from all-time highs.

China now has a new blockchain fund with $1.6 billion, something which we have not seen before because 30 percent of the fund is backed by the Hangzhou city government.

With scalability solutions launching for Bitcoin and other crypto protocols in the near future, more participants will be attracted into the crypto space. This is due to the fact that transaction times will be reduced in addition to the reduction of fees per transaction.

Many in the United States are catching on to the monumental federal deficits that put the value of the Dollar in jeopardy. Perhaps people may look to a digital store of value such as Bitcoin to act as a hedge against fiat currency alongside commodities such as gold and silver.

From a price point of view, looking back in history, we tend to see more positive bullish action in Q2 leading into Q3. Between April and June of 2016, we saw Bitcoin going on a bull run, gaining over 80% to just shy of $800.

Bitcoin marginally higher, technical outlook remains muddled (MarketWatch), Rated: A

Sluymer said that there is little conviction from a technical standpoint. For those hoping it is bottoming out, Sluymer pointed out the long-term trend line off the September 2017 high, joining the Nov. 12 and Feb. 6 lows, which puts in a $6,000 to $6,500 range as the base.

bitcoin muddled
Source: MarketWatch

Monero’s Spagni: “Official Ledger Support” For XMR Is Imminent (CryptoCoinSpy), Rated: A

On Monday evening (PDT), Riccardo “fluffypony” Spagni (Monero Core Team) appeared live on popular crypto-centric YouTube channel, Doug Polk Podcast, where he not only provided much-needed context surrounding the five Monero hard forks created over the weekend, but also took to discussing the anonymity-based XMR coin and the broader cryptocurrency space it occupies.

The near two-hour long conversation touched on many thought-provoking points, but of particular note was Spagni’s news that the most popular crypto wallet in the world, Ledger Nano S, is finally able to support the Monero cryptocurrency.

Bought bitcoin last year? Here’s how to save money on your crypto taxes (Quartz), Rated: AAA

In 2015, which was one year after the IRS created the cryptocurrency tax rules, only 802 people mentioned cryptocurrencies at all on their tax returns; cryptocurrency company Coinbase now has more than 10 million customers.

Reducing your crypto tax bill

1: Be a long-term investor. Taxes are much lower if you own cryptocurrencies for more than one year; the IRS rewards patience.

2: Immediately put money aside in dollars whenever you sell a cryptocurrency and make a profit (and not in another cryptocurrency). In terms of how much money in dollars to put asidewhen you realize a profit, it depends on two things: 1) how long you owned the cryptocurrency for, and 2) your tax bracket.

3: Keep a detailed record of all your cryptocurrency transactions. Document all your buy and sell dates and amounts in a spreadsheet.

4: Hire a tax attorney and/or an accountant to help you file taxes. This is especially true if you think you owe back taxes, which you should definitely pay or risk paying potential massive fines and serving potential prison time too.

5: You can gift or donate your cryptocurrency and not pay taxes, if you have not sold the cryptocurrency. The process is similar to how the gifting of stocks process works.

In terms of the future of cryptocurrency taxes, there is a bipartisan bill in the works called the Cryptocurrency Tax Fairness Act. This bill was introduced last September and might reclassify cryptocurrency as a currency, allowing Americans to not report any transactions that are under $600.

Investors trust cryptocurrency more than Federal Reserve (CoinGeek), Rated: B

In a recent interview with Bloomberg, ICE CEO Jeffrey Sprecher said that cryptocurrencies shouldn’t be viewed as an alternative investment, and that ICE was considering a futures contract option in the future. Sprecher went on to add, “There is a trend here we can’t ignore in my mind, so I don’t discount it. People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the U.S. (Federal Reserve).”

CRYPTO INVESTORS COULD INADVERTENTLY COMMIT ‘POTENTIAL FELONY,’ TAX EXPERT SAYS (Bitcoinist), Rated: A

The IRS has clearly outlined that transacting with cryptocurrency is treated the same as transacting with property and, consequently, taxes on capital gains are to be paid at the standard rate. The taxman has already issued a warning against tax evasion but experts remain uncertain about the way foreign accounts and cryptocurrency exchanges correlate.

Now, US citizens holding more than a specific amount of money abroad are typically required to file reports with the U.S. Treasury and the IRS. Failing to oblige could essentially result in steep fines of more than $100,000 and even jail time.

Cryptanite Introduces Faster Way to Purchase Top-Performing Cryptocurrencies (GlobeNewswire), Rated: A

Cryptanite Blockchain Technologies Corp. (CSE: NITE), a Boulder-based blockchain technology company, today announced the private beta launch of its Cryptanite Wallet app. Once publicly released, the Cryptanite Wallet will include three new baskets for cryptocurrency buyers and investors—HODL, HOOD and BASE. Together, they provide a secure, easy-to-use and frictionless process to buy, invest and store a diversified collection of more than 15 top cryptocurrencies, including Bitcoin, Ethereum, Ripple, Stellar and Dash.

 

The HODL Basket: 
The HODL basket currently includes Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM) and NEO (NEO).

The HOOD Basket:
The HOOD basket represents the top 5 cryptocurrencies listed by Robinhood in their trading application. The HOOD basket currently includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM) and Litecoin (LTC).

BASE Basket:
The BASE basket represents the 4 cryptocurrencies currently available for purchase on Coinbase. When Coinbase adds another cryptocurrency to its platform, the BASE basket will be automatically updated for purchase to reflect the changes. The BASE Fund currently includes Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

Crypto Investments Plagued By ‘Widespread Fraud’ (Law360), Rated: A

The Texas State Securities Board found “widespread fraud” during a monthlong investigation into cryptocurrency investments that has so far resulted in seven regulatory actions, with dozens more investigations open, according to a report released Tuesday.

The regulator’s four-week sweep found none of the 32 cryptocurrency promoters it investigated was registered to sell securities in Texas.

Cryptocurrency investment fraud running rampant in Texas, state says (512Tech), Rated: B

The state agency has taken enforcement action against seven of those companies because of information turned up during the sweep, which began Dec. 18.

CoinTracker raises $ 1.5M to make tracking crypto investments easy for anyone (TechCrunch), Rated: A

It’s good timing, then, for CoinTracker — a San Francisco-based startup currently tracking $200 million in crypto assets — to pop its head above the parapet and announce that it has raised a $1.5 million seed round.

The service tracks your crypto across wallet addresses — using public information, nothing private — while it throws in API keys from the top 14 crypto exchanges.

Noble Bitcoin to Provide Insured Cold Storage for Crypto Investors (NewsBTC), Rated: A

A leading provider of cryptocurrency IRAs (individual retirement accounts) believes they might have found a solution to one of the barriers stopping institutional investors taking up positions in digital currency. Noble Bitcoinannounced earlier today that they are going to provide insured cold storage solutions for clients.

Which cryptocurrency wallet to choose (Kaspersky), Rated: A

In fact, we’re working on two concepts built around the most sophisticated Secure Element chips on the market today. Both feature NFC to authenticate transactions on mobile phones, but they differ in how much visibility the user has into their transaction — one has an LCD screen to show the hashes and the other doesn’t. We also offer to create a protected copy of your wallet and store it securely so that you won’t lose your money even if your wallet gets lost or damaged. You can explore the concepts and vote for one here.

3 Pervasive Cryptocurrency Conundrums (The Motley Fool), Rated: AAA

1. The proof-of-concept conundrum

If there’s an issue that could be labeled as the biggest problem for cryptocurrencies, in my view, it’d be the proof-of-concept conundrum associated with blockchain technology.

The Enterprise Ethereum Alliance has gathered well over 250 organizations from around the globe to test a version of Ethereum’s open-source blockchain in various industries and settings.

Yet, one issue remains: real-world scalability.

2. The regulation conundrum

In order for cryptocurrencies to be taken seriously, and for them to have a long-term future, there needs to a foundation of regulation. Yet, this regulation works against the very core principle that attracted investors to virtual currencies in the first place. Balancing the need for regulation and the desire for independence is going to be difficult.

3. The cryptocurrency mining conundrum

Now, here’s the conundrum: Graphics card prices have doubled, tripled, or even quadrupled as a result of demand for cryptocurrency mining. That’s been a nice boon for NVIDIA and AMD, but it’s really ticking off their core graphics card customers, who are either video-game enthusiasts or businessmen/businesswomen. NVIDIA and AMD have to decide whether they’ll do nothing and let supply and demand dictate pricing, which could cause them to lose some of their core customers, or launch crypto-specific graphics cards for mining and lessen the recent surge in revenue they generated from the mining craze. It’s really a no-win situation for either company.

tZERO Unveils New Security Token Trading Software Prototype (CryptoSlate), Rated: A

tZERO, a subsidiary of Overstock, appears to be ready to contribute to the maturation of the crypto market and has recently released a prototype of its planned security token trading software.

The tZERO project aims to create an ecosystem in which both traditional and emerging security types can be traded, with the stated goal of “‘democratizing, expanding and strengthening capital markets.”

 

 

Blockchain, Bitcoin And The Electronic Health Record (Forbes), Rated: AAA

Physicians have a love-hate relationship with the electronic health record (EHR). On the one hand, doctors know they can’t provide the best possible medical care without them. And on the other, today’s EHR systems are cumbersome, clunky and slow physicians down.

How can we improve today’s EHR systems?

If your medical data is kept on your local physician’s office computer, the answer is that the doctor both owns and controls it. And in that case, none of your records are “comprehensive” or immediately accessible to providers outside of your doctor’s office.

Applying Healthcare Blockchain to HIT Infrastructure (HIT Infrastructure), Rated: A

As healthcare blockchain becomes more of a reality in the healthcare industry, organizations considering adopting the technology in the coming years need to consider how blockchain will impact their HIT infrastructure.

Blockchain: Nemesis Or The Future Of Utilities? (Forbes), Rated: A

Bloomberg recently wrote about how blockchain has the capacity to upend the traditional utility model as it empowers consumers.

Of course, as with any new technology, there are a number of issues which need to be addressed before we can assess the extent to which blockchain will help or hinder the utility market: cost, scalability and understanding of its potential.

Smart Startup Token Brings Blockchain Security to Small Business Legal Transactions (Nasdaq), Rated: A

Properly upholding legal agreements is critical to a successful startup business. Despite their importance, falling short in fulfilling these agreements is often a recurring obstacle for small and medium-sized companies.

Embracing the cutting edge in frictionless transparency and security, the Smart Startup Company wants to use smart contracts on a blockchain to solve this universal issue. Through their innovative model, SMRT will provide the smart contract on-ramp for startups and businesses seeking an efficient tool for legal contracts.

WeWork Rival Knotel Builds Its War Chest, Makes a Bet on Blockchain (WSJ), Rated: A

A startup firm that is competing with WeWork Cos. in the flexible-office-space business and planning a service that will use blockchain to track space listings just closed a $70 million funding round.

Knotel , which was founded in 2016, said the funding round was led by well-known names in the property business, including Newmark Group Inc., a real-estate services firm that went public late last year, and the Moinian Group, a big owner of commercial real estate in the New York region. Other investors included Wolfson Group, Sapir Organization and Wainbridge Capital.

Together with a $25 million funding round last year, the latest investments brings Knotel’s capital raised to close to $100 million. The deals value the firm at roughly $500 million, according to PitchBook, a research firm owned by Morningstar.

Knotel has deals with landlords in 45 office buildings in New York, San Francisco and London that enable it to lease space in those properties on a short-term basis to tenants seeking flexibility.

Lucidity uses the blockchain to bring more transparency to online ads (TechCrunch), Rated: B

Sam Kim, co-founder and CEO of Lucidity, said blockchain technology offers a solution to cut down on fraud and bring more transparency to digital advertising.

 

WhenHub Raises Crypto Bar – Concurrently Launches App and ICO (PR Newswire), Rated: B

WhenHub announced the public release of “Interface,” a blockchain-based mobile app for connecting people with experts on any topic imaginable. The company also announced the launch of an Initial Coin Offering (ICO) for its WHEN Token, the payment method used by the app.

Criminal And Civil Charges Filed In Connection With Initial Coin Offering By Centra Tech (JDSupra), Rated: B

In separate complaints filed in federal court in the United States District Court for the Southern District of New York, both the DOJ and the SEC alleged that the company’s co-founders orchestrated an elaborate marketing campaign to solicit over $25 million in investments for their digital technology company, Centra Tech.  Complaint, SEC v. Sharma et al., No. 1:18-cv-02909 (S.D.N.Y. Apr. 2, 2018); Complaint, U.S. v. Sharma et al., 18-MAG-2695.  The two men each face four criminal charges of commission and conspiracy to commit securities and wire fraud, as well as permanent injunctions and civil penalties for violating various anti-fraud and registration provisions of the Securities Act of 1933 and Securities Exchange Act of 1934.

Galaxy Digital Get Big Respective Hires (Bitsonline), Rated: B

With the hiring of Richard Kim, Mike Novogratz and the team at Galaxy Digital haven taken their vision of becoming the world’s premier crypto bank one step closer to reality.

Going forward, then, Kim will be the maestro of Galaxy Digital’s operations, being tasked, per Bloomberg, to “trade crypto as well as make principal investments, manage assets for other clients and provide advice on blockchain-related ventures.”

McCann Inks Deal with First Blockchain Company, Job.com (CIO Dive), Rated: B

Following the announcement of its blockchain-based job matching platform, Job.com today announced that it is the first blockchain company to work with the world’s leading advertising agency, McCann.

 

2018 US China Blockchain and Digital Currency Conference Announced (PRWeb), Rated: B

The 2018 US China Blockchain and Digital Currency Conference is coming to Los Angeles, CA on August 22, 2018. The one-day event is hosted by Blockchain China Connect, Artisan Business Group, Inc., and partnered with FundingPost.com. It is the only Sino-US investment and funding focused business event for blockchain and cryptocurrency industry. Hundreds of blockchain entrepreneurs, investors, bitcoin mine operators, traders, and legal taxation experts from China and the U.S. are expected to attend and it will provide a great opportunity for peer-to-peer networking and exploring investment, business and collaborations between the U.S. and China.

International

Bitcoin in Brief Wednesday: Buy the Rumor, Sell the News (Bitcoin.com), Rated: AAA

A lot of crypto traders have a lot of love for ubiq, an ethereum fork that typically trades for just over a dollar. That love hasn’t converted into any sort of tangible movement for months…until yesterday, when the coin finally took off, climbing 73% in a matter of hours. It’s one of this year’s best performing cryptos, up another 24% on Tuesday, despite having been distributed to NEO holders for free.

Tuesday’s other great gainer was verge, which climbed another 19%. It’s now up 130% in the past month.

best performing cryptos
Source: Bitcoin.com

Yearto.date Shows 2018’s Best Performing Cryptocurrencies

year-to-date cryptocurrencies
Source: Bitcoin.com

Ripple’s Hope Is Beyond Western Union (Ethereum World News), Rated: A

Allvor is another feather to the cap of Ripple. It is branding itself as the first cryptocurrency powered by XRP Ledger with a distinct functionality and a focus on e-commerce. Allvor proposed integration, using XRP ledger superior technology, if widely accepted, it will go a long way in boosting the cryptocurrency use on a global scale.

When the news of the Japan Bank Consortium having a link with Ripple surfaced, the world see it as a big move for Ripple. The consortium, which is a coalition of 61 banks in Japan is organized by SBI Ripple Asia. In an announcement, the consortium revealed the launch of a new Ripple pilot with Woori Bank and Shinhan Bank who are seen as the two largest South Korea’s banks due to their market cap amounting to $30 billion.

The Saudi Arabian Monetary Authority’s (SAMA) partnership with Ripple is going to save the oil rich country of $200 -$400 million annually. The partnership gives banks in the kingdom an opportunity use Ripple tools for cross-border payments.

That contract your computer made could get you in a legal bind (The Conversation), Rated: AAA

Companies are now using smart contracts to instantaneously buy and sell real estate, compensate airline passengers with travel insurance, collect debts, make rental payments, and more. But if a smart contract goes rogue, there can be significant consequences.

For example, in June 2017 Canadian digital currency exchange QuadrigaCX lost US$14 million worth of the cryptocurrency Ether when its underlying smart contract platform reacted to a software upgrade. The contract merely locked itself and subsequently lost the money.

When smart contracts make new agreements

So what would happen if a smart contract, which has been coded to make decisions, decided to enter parties into a another contract?

Contracts written with code are capable of learning and may occasionally behave in a manner inconsistent with their instructions.

One view is that a programmed smart contract might be seen as the legal “agent” of its human creator and therefore has the power to make binding agreements on their behalf. This view has been rejected by some English courts on the basis that computer programs lack the consciousness of a human mind.

Some American courts have gone the opposite way, deeming a computer program acting autonomously in entering and violating contracts as acting with the dispatcher’s authority. In Australia, section 15C of the Electronic Transactions Act 1999(Cth) makes clear that a contract formed entirely through the interaction of automated message systems is:

…not invalid, void or unenforceable on the sole ground that no natural person reviewed or intervened in each of the individual actions carried out by the automated message systems or the resulting contract.

Building a Smart Contract: It’s Easier Than You Think (CoinCentral), Rated: A

Ethereum is largest and most established platform. It also has the most active user base, and in any type of development, an active community to answer your questions is key to finishing your product. One downside, though, is that it uses its own language, Solidity, to write contracts.

Another option, Lisk, is a DApp platform based in Javascript, so you won’t get any new syntax thrown at you.

You could also try out Cardano which was built by a founder of Ethereum and has a large, impressive team. Their product is still new, but if they fulfill their promise to separate contract information from transactional data, it could be the right choice moving forward.

YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals (Bloomberg), Rated: A

Peter “Furious Pete” Czerwinski has close to 5 million YouTube followers, but they can’t see most of his new videos there. To get 46 of the 71 weightlifting and competitive-eating videos he’s posted in the past two months, fans have to use DTube.

Like other upstart sites, DTube runs on the blockchain network Steem, and users can pay creators and commenters in digital tokens.

Two-year-old Steemit has about a million accounts and added some 120,000 last month, according to Scott. Rival LBRY has about 600,000 registered users.

That’s far from Facebook’s 2 billion monthly users, or even the up to 87 million whose data was given to Cambridge Analytica. But Naomi Brockwell, a video creator in New York who specializes in crypto material, says she’s already making an average of $40 a video in Steem tokens, which could take her months on YouTube.

UNOPS Partners With Dutch Government To Explore Blockchain’s Untapped Legal Potential (ETHNews), Rated: A

The United Nations Office for Project Services (UNOPS) is working with thBlockchain Pilots program, run by the Dutch government, to explore how distributed ledger technology can be used in a wide range of legal applications within the overall UN System, as well as by outside entities.

Announced today, the partnership will facilitate collaboration between thirteen authors, who will publish their research findings later this summer, followed by a launch event in mid-September held in New York, likely at UN headquarters.

European Union

3 Factors Affecting the Price of Ethereum Right Now (Finance Magnates), Rated: AAA

Mining profitability

The price of Ethereum is governed not only through speculative actions, but also by mining profitability. At the current price level, the profit levels obtained by mining Ethereum with a mid-to-top end graphics card correlate to approximately $80 per month (which would be a roughly 700 percent return on the cost of electricity for mining).

When the price level of Ethereum is between $300 and $400, the profitability is considerably higher, giving miners a strong incentive to sell at higher price levels.

Ethereum price
Source: Finance Magnates

Regulation

Another point to consider is the fact that harsh stances by governments in China and more recently, South Korea. The aggregate effect of regulators has led to a decline in investment and those that did would have pulled out as soon as they could.

The exchanges

The increased interest in cryptocurrencies has also put a strain on the way the market is currently functioning. First, numerous exchanges have stopped taking on new users. Bitfinex, for example temporarily curtailed account registrations in December, a strategy put in place to preserve the trading, support, and verification experiences of their existing, long-term user base.

Golem Arrives: One of Ethereum’s Most Ambitious Apps Is Finally Live (CoinDesk), Rated: A

Wouldn’t it be nice to make some extra cash while browsing social media?

That’s the promise of Golem, a peer-to-peer market for putting your computer’s excess CPU power to use for other people. And today, after three years and 14 software implementations later, it’s going live on the ethereum blockchain.

Cryptocurrency miners seek cheap energy in Norway and Sweden (Reuters), Rated: A

Cryptocurrency miners are moving in to Norway and Sweden to take advantage of cheap hydro-electric energy and low temperatures to power and cool their servers.

Travel industry eyes blockchain potential for fees, delays, lost bags (Reuters), Rated: A

Blockchain technology has the potential to shake up the travel industry by giving airlines and hotels a way to bypass controlling intermediaries like Expedia (EXPE.O) or Amadeus (AMA.MC) and gain better access to customer data.

Major players including Lufthansa (LHAG.DE) and citizenM hotels are partnering with startups and talking to large corporate clients about whether they can do group bookings via blockchain instead of using middlemen, who charge up to 25 percent of ticket or room prices in fees.

German Consulting Firm Camelot Launches Blockchain Platform For Medical Data Management (CoinTelegraph), Rated: B

German Camelot Consulting Group has developed a Blockchain-based solution for the management of sensitive medical data, Cointelegraph auf Deutsch reported Monday, April 9.

Blockchain Is ‘Going Mainstream’ Says European Commission Official (CoinDesk), Rated: B

In a speech Tuesday, European Commission (EC) vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of “the areas where Europe is best positioned to play a leading role,” with the caveat that the continent needs to invest much more in its technology sector.

After Telegram, Another Giant Social Network Planning an ICO? (cryptovest), Rated: B

After Telegram, it seems another big network is gearing up for an initial coin offering, and this time, we suspect it is Ask.fm.

Initially we got alerted to a job posting for “…a global social Q&A network with more than 200 million registered users. They are looking for an Ethereum Solidity Developer to join their team to help develop a new blockchain / cryptocurrency project globally” and started investigating further.

United Kingdom

First Mobile App Using Ripple Technology has Come to Market (Live Bitcoin News), Rated: AAA

OnePay FX lets users send Euro and Dollar transactions in mere minutes, rather than hours or days.

This is the first application from Santander, which uses Ripple technology.

This particular application lets users spend up to 10,000 GBP per day.

Why Bitcoin Behaves Like the Flu (Bloomberg), Rated: AAA

The Barclays model divides the pool of potential Bitcoin investors into three groups: susceptible, infected and immune. It assumes that as prices rise, “infections” spread by word-of-mouth (nobody likes missing out when their friends and colleagues are getting rich).

The main variables determining when Bitcoin price gains turn into price declines are the share of the population aware of the cryptocurrency and the share willing to invest (susceptible to infection), according to Barclays.

bitcoin Barclays
Source: Bloomberg

Like flu season, the ‘infectious’ spread of bitcoin could be over, Barclays says (CNBC), Rated: A

The “infected” in this model are the 0.1 percent of the population who first bought cryptocurrencies with an unknown long-term fundamental value. Another 25 percent of the population was susceptible to the new asset, mostly drawn in by “fear of missing out,” Barclays analysts said. Some of the global population is “immune,” and will never buy the asset.

The Barclays model suggests that awareness around cryptocurrencies is now almost universal, and only a small group of the population could now catch speculative interest, and buy in. Current holders are also developing “immunity” to more investment, Barclays analysts said.

bitcoin
Source: CoinDesk

Despite Negative Press, Platforms Banning Digital Currency Ads Won’t Hurt the Industry (Coinsquare), Rated: AAA

To understand the decision of online ad networks banning digital currency advertisements, it’s important to consider the industry’s current landscape. With the popularity of digital currencies, the industry saw an emergence of bad actors looking to take advantage of investors.

To understand the decision of online ad networks banning digital currency advertisements, it’s important to consider the industry’s current landscape. With the popularity of digital currencies, the industry saw an emergence of bad actors looking to take advantage of investors.

Fraudulent ICOs attempt to blend in with genuine ICOs and honest digital currency projects, hoping to use positive press surrounding the digital currency industry as a means of deceiving investors.

Banning digital currency ads could help the industry’s longevity

Despite the bad press, not everyone in the digital currency industry agrees that the removal of ads from social media networks is harmful for the industry. Removing deceptive actors from the space is a sentiment often echoed throughout the community, as fraudulent projects can create a negative stigma around the industry as a whole.

13 – Unlucky For Some But A Big Number For Litecoin (Cryptodaily), Rated: B

Back to the point. This weekend rumours erupted about a release date for Litecoin’s ‘smart contracts’, the 13th of April specifically which is just three days from now.

China

China’s State Electricity Firm Eyes Blockchain for Internet of Energy (CoinDesk), Rated: A

China State Grid Corporation, the country’s state-owned electricity utility monopoly, is looking to blockchain technology to advance its plans for an “Internet of Energy.”

Alibaba’s Taobao Bars Crypto and ICOs in Policy Update (CoinDesk), Rated: B

Taobao, the internet shopping site owned by e-commerce giant Alibaba, has updated its list of prohibited goods and services to include cryptocurrency-related products.

Australia

Why smart contracts could cause legal grief for business (finder), Rated: A

US law professor Harry Surden says financial firms often program computers to contract with other parties in security trades. Another example of smart contracts is the pricing and purchasing of certain types of advertisements on Google, which are negotiated autonomously between computers without any human intervention.

Smart contracts on the blockchain are designed to be immutable, meaning the transactions they carry out cannot be amended or interrupted. So if things go wrong, there is little recourse.

Asia

Self-Regulatory Group Study Reveals 3.5 Mln Active Crypto Investors (CoinTelegraph), Rated: AAA

Japan delivered new statistics about cryptocurrency use on Tuesday, April 10 as regulators and industry players push for greater transparency in the country’s market.

A report from Japan’s self-regulatory body the Japanese Cryptocurrency Business Association (JCBA) revealed at a meeting of a study group commissioned by the Financial Services Authority (FSA) analyzed various data from 17 major exchanges in 2017.

Last year in Japan, 3.5 million active investors participated in the domestic market.

How Coinone Is Harnessing South Korea’s Cryptocurrency Fever (Forbes), Rated: A

Until recently, South Korea’s fever for cryptocurrency trade has been nearly unparalleled. With only about two million traders, the small country of 50 million was one of the largest markets for Bitcoin and Ethereum last summer.

Cha Myunghun, CEO of major crypto exchange Coinone, says the speculative spirit was not healthy for the market — but it certainly helped grow his company from 20 employees in January 2017 to over 100 today. Coinone has risen to the top three cryptocurrency exchanges in Korea, with 643,000 users and reaching 23.4 billion won in monthly revenue last December.

 

Pakistan Made a Big Mistake by Banning Cryptocurrencies and ICOs (CCN), Rated: A

While major economies are scrambling to regulate the cryptocurrency market, small economies like Pakistan and Vietnam have completely shut out the cryptocurrency market, rejecting users, investors, and businesses, and possibly billions of dollars.

In hindsight, Pakistan’s ban on cryptocurrencies has virtually no impact on the global cryptocurrency market, given that the Pakistan cryptocurrency market does not even account for 0.1 percent of the global cryptocurrency market. But, Pakistan has made an error in dismissing overseas blockchain companies that could potentially expand into or relocate to countries like Pakistan for cheaper resources.

Vietnamese Crypto Company Goes Dark After Allegedly Duping Investors Of US$ 660M In ICOs (CoinJournal), Rated: A

Ho Chi Minh City-based company Modern Tech has gone dark after allegedly deceiving 32,000 people into investing an estimated VND15 trillion (US$660 million) into two fake cryptocurrency projects.

Digital currency exchange Luno registers as reporting institution with BNM (The Edge Markets), Rated: B

Digital currency exchange Luno announced today that it has registered its Malaysian operations with Bank Negara Malaysia (BNM) as a reporting institution, as required by the anti-money laundering policy document recently released by the central bank.

Africa

MyBucks S.A., NAGA Group partner to offer crypto wallet service (ITWeb Africa), Rated: AAA

Frankfurt-listed FinTech firms MyBucks S.A. and The NAGA Group AG have announced a partnership through which MyBuck S.A will implement NAGA’s crypto wallet within its client interface and existing MyBucks mobile wallet.

According to a statement issued by MyBucks, the partnership will enable its client base of over 1.5 million customers (across 12 African countries, Australia and prospective markets) to access the offering.

The partners say Sub-Saharan Africa’s remittance market amounts to US$34 billion annually and they are confident they will gain significant market share within the next 2 – 3 years.

Latin America

Venezuela assembly green lights decree on cryptocurrencies (CoinGeek), Rated: AAA

The Venezuelan parliament has enacted sweeping reforms that made the use of the country’s oil-backed cryptocurrency, Petro, legal tender—at least in Venezuela.

The decree which the parliament approved is called the Constituent Decree on Crypto assets and the Petro was eventually presented to the country’s Vice President Tareck El Aissami.

According to a report in Sputnik News, the decree “will grant the power to President Nicolas Maduro to regulate the issuance, organization and operation of the Petro.” Under Maduro’s rule, cryptocurrencies will chiefly be allowed for the eventual economic of the nation and that the decree’s purpose is to allow the use and exchange of crypto assets by residents and non-residents alike.

CryptoSecure Platform to Guarantee Cryptocurrencies (GlobeNewswire), Rated: A

CryptoSecure through joint venture with a Crypto Investor, Inc., partnership, and utilizing its cryptocurrency security platform will raise the bar for token security.

This platform initiative will make the hacking and theft of tokens futile, as should any tokens be stolen they will be rendered worthless in the hands of any cybercriminal and replaced into the victim’s account.

Financial Stability Board of Chile Says Cryptocurrencies Are No Threat (NewsBTC), Rated: B

The Financial Stability Board (CEF) of Chile, an association that is coordinated by the Ministry of Finance and was created in 2011 to ensure the integrity and soundness of the financial system, has concluded that cryptocurrencies do not pose a threat to the economy.

Canada

Etherparty Enhances Security Ahead of Rocket Launch (PR Newswire), Rated: AAA

Etherparty Smart Contracts Inc. (“Etherparty”), a blockchain technology company providing smart contract solutions for enterprise and everyday use on the world’s most popular blockchains, has enlisted Zero Trust security solutions provider Aporeto, to provide an added layer of security to bolster the platform ahead of the ICO product launch.

MOBI724 Global Solutions Initiates Blockchain Capability through Partnership with DLT Labs (GlobeNewswire), Rated: B

MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (TSX-V:MOS) (OTCQB:MOBIF), a Fintech leader offering all-in-one, fully integrated EMV payment, Card-Linked Offers, Digital Marketing and Business Intelligence Solutions, announces that it has a signed a multi-phase product development agreement with DLT Labs Inc. (“DTL”) (dltlabs.io) to enable the integration of blockchain technology within MOBI724’s product portfolio.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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