Daily News Digest Featured News

Wednesday November 14 2018, Daily News Digest

cryptocurrency

News Comments

United States

International

European Union

Other

News Summary

United States

Ripple (XRP) Price Spikes After CEO Calls For ‘Global Framework’ And Bashes Bitcoin (Forbes), Rated: AAA

Ripple (XRP) has spiked 4% today, once again gaining ground on ethereum as the world’s second-biggest cryptocurrency by market capitalization after Ripple chief executive Brad Garlinghouse called for a “global framework” for payments and called out bitcoin for its failings.

Garlinghouse has been talking up his company’s technology during the Singapore Fintech Festival, telling Bloomberg, “XRP is 1,000 times faster and cheaper than bitcoin,” the original and largest cryptocurrency by market value.

A measure of bitcoin volatility fell to its lowest level since 2016 (MarketWatch), Rated: AAA

One measure of bitcoin’s volatility in the prior 30-day period marked its lowest level since December 2016, as the world’s largest cryptocurrency remains pegged either side of $6,500 baffling industry onlookers.

Bitcoin volatility
Source: MarketWatch

BTC/USD Breakout above Resistance Trend Line, Buyers aim $ 7,200 (NewsBTC), Rated: A

Nonetheless, conservatives should wait until after there are solid gains above $6,800, the lower limit of our resistance zone. Conversely, losses below $5,800 could fade this projection as sellers aim at $4,500.

While it may be tempting for risk-off traders to load at spot, traders need to see gains above $6,500 before ramping up with first targets at $7,000 and $7,200.

Bitcoin
Source: NewsBTC

Bitcoin Price Decline Will Persist until Mid-2019: Crypto Analyst Willy Woo (CCN), Rated: A

When the bitcoin price flatlined near $6,500 in mid-October, many crypto analysts predicted that the bears had finally become winded following a market downturn that has persisted for nearly a year and that the market could be primed for a December rally. However, technical analyst and trader Willy Woo does not believe that the flagship cryptocurrency’s immediate future is quite so rosy.

Writing on Twitter, Woo said that he does not expect the bitcoin price to find a floor until the second quarter of 2019, meaning that the market could face another seven months of downward pressure before conditions improve.

Bitcoin network momentum
Source: Willy Woo/Twitter

Major US Museum Becomes Country’s Third to Accept Bitcoin as Payment (CoinTelegraph), Rated: A

Great Lakes Science Center, a major museum and educational center in Cleveland, Ohio, is accepting Bitcoin (BTC) as payment as of today, Nov. 13. Local business news source Crain’s Cleveland Business (CCB) reported on the development Nov. 9.

What you need to know about the Bitcoin Cash ‘hard fork’ (MarketWatch), Rated: A

hard fork
Source: MarketWatch

Ver has put his weight behind the new software upgrade, or the current Bitcoin Cash. But Wright — the Australian computing genius who has on a number of occasions claimed to be Satoshi Nakamoto, the pseudonym given to the creator of bitcoin — argues the software should deviate toward the original bitcoin, hence Satoshi’s Vision (SV), by raising the maximum block size to 128MB from 32MB.

To date, consensus among the industry is that Bitcoin ABC should prevail in the war of the miners. However, Coin Dance, a data monitoring website has said it projects Bitcoin SV to receive up to 60% of the computing power.

Calvin Ayre

Someone Has Possibly Tried to Steal Bitcoin by Using the Name of Coinbase (CryptoVibes), Rated: A

It looks like that someone has tried to steal bitcoin  -1.21% by using the name of Coinbase, which is a digital currency exchange. Sub-reddit r/bitcoin has shared the experience that the user has to encounter with a caller and wanted to forewarn others about the hackers’ ploy. Already, more than $1 billion worth of cryptocurrencies have been stolen in the current year itself with the biggest cyber attack happening in Japan.

This chart shows how cryptocurrency mining on your own is no longer profitable (CNBC), Rated: AAA

  • The business of “mining” new cryptocurrencies using high-powered computers is no longer profitable for the cryptocurrency ethereum.
  • The profit per month of mining ethereum using a graphics card called a GPU is down from about $150 last summer, to an estimated $0 for November of this year, according to analysis by Susquehanna.
  • Chipmaker Nvidia is also losing money as a result. Susquehanna semiconductor analyst Christopher Rolland says the company’s cryptocurrency-related revenue will be “likely close to zero” for the third quarter.

cryptocurrency

Bitcoin a winner in the U.S. midterms (Brave New Coin), Rated: AAA

Americans went to the polls on November 6 to cast their votes in the mid-term elections.

The pro-bitcoin views held by some incoming political heavyweights is pointing to a win for the cryptocurrency sector in the mid-terms. Distributed Ledger Technology (DLT) advocacy group Digital Asset Trade Association (DATA) has published a document that rates the crypto-friendliness of the newly elected governors. According to the report, three new governors, as well as two incumbent ones, hold pro-bitcoin and blockchain stances.

Digital Assets scorecard
Source: Digital Asset Trade Association

Read the full report here.

The Amazing Story of Cryptocurrencies Before Bitcoin (Hackernoon), Rated: AAA

DigiCash: Nobody wanted digital money

David Chaum is a 28-year-old Ph.D. student in computer science from the University of Berkeley, California when he publishes a scientific paper in 1983. He is the first to describe digital money. Chaum comes from a wealthy US-American family, is a brilliant mathematician and is appointed head of the cryptographic department of the Mathematical Institute in Amsterdam.

In his paper, he describes the key point that his digital money differs from credit card payments through anonymity. Users receive the digital currency from their bank, but then it is made anonymous. This allows the bank to see who has exchanged how much money, but not what it is used for.

e-gold: Pioneers die lonely

1996 knows neither PayPal nor Bitcoin and has no relevant online shopping yet. But the times — they are a changing. After DigiCash, someone must be the next to try their hand at flourishing e-commerce. The oncologist Douglas Jackson and lawyer Barry Downey assume this role. Their idea: They put gold coins in a safe deposit box in Melbourne, Florida. Then they create a website where digital portions of these gold coins are sold. The shares are denominated in a new currency, which they call e-gold.

The birth of Bitcoin

The public will hear about Bitcoin on 31 October 2008 at 8:10 Central European Time. Although “the public” is a little exaggerated. The metzdown.com website has a mailing list where anyone who enters their e-mail address can exchange information on cryptography. The public here consists of a few thousand computer nerds.

WebCobra Malware Uses Victims’ Computers To Mine Cryptocurrency (Forbes), Rated: A

As the malware increases power consumption, the machine slows down, leaving the owner with an unwelcome bill, as the energy it takes to mine a single bitcoin can cost anywhere from $531 to $26,170.

And while cryptojacking is a relatively new threat, arecent report from the Cyber Threat Alliance (CTA) indicates a massive 459% increase in the rate of illegal cryptojacking this year. According to a report from McAfee Labs released in September, after growing around 400,000 in the fourth quarter of 2017, new crypto mining malware samples increased by 629% to more than 2.9 million samples in Q1 of 2018. This trend continues in Q2 as total samples grew by 86% with more than 2.5 million new samples detected.

Wilshire Phoenix Is Building a Team and a Product to Onboard the Next Wave of Crypto Investors (BTC Manager), Rated: A

While developers continue to build out the infrastructure of the crypto economy, many others are turning the bear market into ground zero in preparations for the next bull run. In their Q3 report, for instance, Grayscale investments described this inflow of institutional money pouring in and making positions in the market. Another smaller demographic, made up by firms like Wilshire Phoenix, are also making similar bets and shifting much of their focus toward the crypto verse.

ProfitStance’s New Report Addresses Cryptocurrency Investors’ Massive Problems in Tax Accounting, Filing (BusinessWire), Rated: A

ProfitStance today announced the release of its report “The Crypto Landscape: Tax Accounting Issues and Solutions.”Developed by crypto investors for their peers, the software-as-a-service (SaaS) solution continually tracks all crypto transaction activity and is currently available for individual investors for 2018 and previous tax years. In addition, an enterprise solution is in advanced stages of development and addresses the needs of CPA firms, wealth managers, financial organizations, miners, and others.

  • Investors are often trading multiple cryptocurrencies using multiple wallets and multiple exchanges so the tax liability “water” gets very muddy very quickly;
  • No meta data is captured on crypto movements (buys/sales/sends/receives) which often penalizes investors with a higher tax liability than they actually have;
  • Crypto exchanges are not providing clarity and accuracy to investors; the information they do provide is highly siloed, lacks uniformity, and is often inaccurate;
  • Since there is very little enforcement by regulators (SEC, FinCen, etc.) crypto investors are left largely to fend for themselves;
  • The IRS has been slow to offer guidance and/or clear regulation which has compounded uncertainty in the market and removed much of the fear / incentive investors normally have to report taxes the best they can;
  • Because accurate cost basis data is so difficult, expensive, and time consuming for crypto investors to obtain, approximately 98% of them did not report taxes in 2017.

Who Ultimately Regulates Blockchain and Cryptocurrencies Does Matter (Forbes), Rated: A

At the same time it is worth noting that the current environment, with its lack of regulatory certainty, also present risks to its users: for instance, no one can be certain which of the myriad currencies will survive a potential market shakedown, which could render their crypto investments worthless.

Blockchain 2019: How crypto will convert cash, property into digital assets (ComputerWorld), Rated: A

distributed ledger

IBM opens up its blockchain dev platform to AWS (and other cloud services (The Next Web), Rated: A

IBM appears hell-bent on establishing its dominance in the fledgling blockchain enterprise market.

The company has announced a bunch of improvements to its IBM Blockchain Platform, which offers a suite of developer tools to build decentralized solutions. Among other things, the platform will now support third-party cloud providers like AWS (Amazon Web Services).

Can The Failing ICO Mechanism Turn Things Around? (Forbes), Rated: AAA

When a graph depicting the funding of ICOs month on month from May 2017 to October 2018 was published on Bloomberg the alarm bells which had already sounded reached their crescendo.

ICO funding had dropped to a 17 month low in September.

ICO funding

4 Top Reasons Your ICO Won’t Get Funded in 2019 (Entrepreneur), Rated: A

A study by Coindesk showed that, in the first three months of 2018, $4.6 billion was raised in ICO sales. That was 85 percent of the money raised for 2017 as a whole.

Business fundamentals — tokenomics and business plans

It doesn’t matter how amazing your team or product is: If you don’t have the business fundamentals down pat, you won’t get funded. In the world of blockchain, business fundamentals boil down to two things: strong tokenomics and a legitimate business model.

Product utility

By studying token projects’ social footprints on Twitter, a research team at Boston College found that only 44.2 percent of these projects were still active by the fifth month of operations. Unfortunately, there are many reasons for this dismal statistic, but one of the greatest contributors is utility.

Brand identity — recognition

We live in a world of multiple options. No matter what you create, there’s a good chance that someone else has created an alternative.

Go-to-market strategy

Having a product that everyone wants is great, but without a go-to-market strategy, funding is unlikely. A “go-to-market strategy” means you’ve prepared a road map for product dissemination. It answers the question, “How do we get our product into the hands of our customers?”

Hedge Funds Seek ICO-Like Returns With Equity-Charged Tokens (Bloomberg), Rated: A

Hedge funds aren’t giving up on cryptocurrencies just yet.

Even with the 70 percent plunge in the value of the digit-asset market from its record highs in December, many still have visions of the triple-digit returns that were often realized from being early participants in initial-coin offerings during the peak of last year’s frenzy.

Tether market cap

SEC Fines 31-year-Old Founder Of Crypto Exchange (Financial Advisor), Rated: A

The 31-year-old founder of cryptocurrency trading platform EtherDelta has agreed to pay $388,000 to settle SEC charges that he operated an unregistered national securities exchange.

SEC’s Robert Cohen: Exchange Owners Are Responsible Even If They’re Not Around (Blockonomi), Rated: B

Robert Cohen – chief of the SEC’s new cyber unit – stated on November 11 that using a blockchain to create a cryptocurrency exchange without having a central operations center does not remove the owner from serving in a responsible manner towards customers.

Amex Files Patent for Blockchain System to Match Images of Receipts With Stored Records (CoinTelegraph), Rated: B

Financial services giant American Express (Amex) has filed a patent for a blockchain-based system to capture and transmit the image of a receipt, according to a U.S. Patent and Trademark Office (USPTO) patent filing published Nov. 13.

The patent applicant is listed as American Express Travel Related Services Co., Inc., the company’s travel subsidiary. The new filing, titled “Linking digital images with related records,” includes a new method for receiving, recording and transmitting the image of a receipt.

International

CEO of Binance, the World’s Biggest Cryptocurrency Exchange, Talks to TheStreet (The Street), Rated: AAA

In the last year, Binance has evolved into much more than a cryptocurrency exchange. What’s the best way to describe Binance today?

Right now, Binance is still a major cryptocurrency exchange and many people view us as that, but we are building the ecosystem. We want to be the infrastructure services provider for the blockchain space, so we have a number of different initiatives.

How would you summarize what happened in 2018 for Binance?

The year was off to a hot start from the beginning. But then the cryptocurrency market did trend down a bit, both in terms of trading volume and the number of people participating in the industry. But I think 2018 has also been a year where we keep our heads down and we build.

We’re seeing an influx of institutional funds coming into crypto as of late. What is your take on that trend and how will it impact the blockchain industry and crypto markets?

Generally speaking, increased institutional participation is a very good thing. If you look at a large fund family like Fidelity, they alone manage over $2 trillion. In contrast, the entire crypto market cap is only $220 billion.

How do you want people to think of Binance?

Eventually, I want people to think of Binance as a verb. Just like Google. Google used to be a name; now I “google” something. It should not really be thinking about Binance; it should just be thinking about something you do, and that should be automatically Binance.

Coinbase market influence: Stellar and Cardano pumping on listings hope (Global Coin Report), Rated: A

Last weekend was a pretty dull weekend of exchange for the cryptocurrency market with a majority of coins recording depreciating prices across the crypto-board. Following the dismal performances that were experienced throughout the weekend by digital assets, the entire crypto market has depreciated by around 1.8 percent to stand at about $211 billion according to CoinMarketCap currently.

Stellar (XLM) has appreciated by over 23% since this time last month following the news breakout that it was being considered as a possible addition to the leading crypto exchange, Coinbase, along with Cardano (ADA).

On Sunday, Cardano (ADA) appreciated by 1.99 percent following an almost similar price hike of 1.14 percent on Saturday. The weekend gain played a crucial role in changing the tides of the cryptocurrency since it assisted it in reversing the losses that had been experienced earlier in the week to leave the altcoin at 0.077 US dollars.

Top 8 Women in Cryptocurrency (MrBTC), Rated: A

crypto women
Courtesy of: MrBTC.org

Winds of Change: The Case for New Digital Currency (IMF), Rated: AAA

When commerce was local, centered around the town square, money in the form of tokens—metal coins—was sufficient. And it was efficient.

But as commerce moved to ships, like those that passed through Singapore, and covered increasingly greater distances, carrying coins became expensive, risky, and cumbersome.

Think of the new specialized payment providers that offer e-money—from AliPay and WeChat in China, to PayTM in India, to M-Pesa in Kenya. These forms of money are designed with the digital economy in mind. They respond to what people demand, and what the economy requires.

A case for Central Bank Digital Currencies

For their part, cryptocurrencies seek to anchor trust in technology. So long as they are transparent—and if you are tech savvy—you might trust their services.

Today, we are releasing a new paper [1] on the pros and cons of central bank digital currency—or “digital currency” for short. It focuses on domestic, not cross-border effects of digital currency. The paper is available on the IMF website.

I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy.

A central bank digital currency could be around the corner, if you believe the IMF (MarketWatch), Rated: A

The head of the International Monetary Fund believes it’s time for global central banks to explore the idea of a state-backed digital currency.

Lagarde’s remarks come on the back of the release of an IMF paper titled “Winds of Change: The Case for New Digital Currency.”

Three Small Cap Altcoins to Watch for 2019 (BittPress), Rated: A

Bloom (BLT) is an Ethereum-based protocol for identity attestation, risk assessment, and credit scoring. Currently, it ranks at 416 with a market cap of of $7.7 million.

Currently, TokenPay (TPAY) is ranks at 191, with a market cap of $23.5 million.

Currently, Ethos (ETHOS) is ranks at 173, with a market cap of $27.5 million.

Top 5 Crypto Crime Trends (Bitcoin Exchange Guide), Rated: A

The Trojan Horse

Today’s Trojan Horse comes in digital form, yet it still has the same effect as those mentioned in Homer’s The Odyssey. This version came in the form of a digital threat called “Rakhni” that worked to steal cryptocurrency.

Social Engineering And Phishing

This particular threat is targeted toward newbies. There have been over 100,000 attempts to redirect internet users to fake pages – especially on cryptocurrency exchanges.

Crypto Mining Botnets

This threat is a network of computers that have been infected with malware and that can be remotely controlled.

Sextortion

Sextortion comes in the form of a email and it is one of the most prominent scams. Here, scammers try to use stolen passwords to create that a computer has been compromised and the hacker then creates a digital video of the user watching pornography. The scammer then attempts to threaten the computer user with the video and demands cryptocurrency.

Malware On Mac OS

Last, this system is fondly known by many as “Lazarus” that has been attacking businesses and financial entities. This threat has been able to get into various cryptocurrency exchanges, companies, banks, and the like and then trick users to download fake cryptocurrencies.

Why blockchain developers ‘can earn $ 158,000’ (BBC), Rated: AAA

According to statistics from online jobs search engine Indeed.com, demand for employees with expertise in blockchain technology doubled during 2017 and is six times higher than it was in 2015. Blockchain developers are now experiencing fierce demand and can expect to earn up to $158,000 in the US.

Heap, a musician who has worked with stars including Ariana Grande and Taylor Swift, is one of a growing number of blockchain innovators who are attempting to push the boundaries in terms of how this still-emerging technology might be used. And if a new report on the Future of Work from the World Economic Forum (WEF) is to be believed, she could soon be joined by a lot more people.

WEF analysts have included “blockchain specialists” in a list of 50 occupations that will rise in importance over the next four years. And alongside this will be an increasing number of jobs.

Will Blockchain Revolutionize Scholarly Journal Publishing? (The Chronicle of Higher Education), Rated: A

Since the 1990s, some academic netizens have predicted that open access will upend scholarly journal publishing, yet an oligopoly still dominates the $25-billion industry.

Orvium, a European start-up, recently joined those taking on the giant players. It offers a publishing and business plan based on blockchain — a coding structure that embeds origins and changes within a file. The format will allow for open-access or other licensing models to be determined by each client journal’s editors. The company’s ultimate objective is “to be the leading publication platform for the research community while returning the benefits of science to society.”

Venezuela to OPEC: “Petro Will Become the Digital Currency of Oil Transactions Worldwide” (Crowdfund Insider), Rated: A

Venezuela’s Minister of Petroleum says he has been invited by the Secretary-General of OPEC to propose that Venezuela’s new state-issued cryptocurrency, El Petro, become the standard unit of account in global oil markets, XinhuaNet reports.

GuildOne and R3 Join Forces to Provide Blockchain Technologies to Global Oil and Gas Companies Leveraging Amazon Web Services (GuildOne), Rated: B

GuildOne Inc. (GuildOne) is proud to announce that it has been working with R3 to transform the oil and gas sector with the ground-breaking innovation of GuildOne’s Energy Block Exchange (EBX) blockchain business network using R3’s blockchain platform, Corda, on Amazon Web Services (AWS). Corda is an enterprise-grade blockchain platform that removes costly friction in business transactions by enabling institutions to transact directly using smart contracts, while ensuring the highest levels of privacy and security.

Accenture deploys Software License Management app on Digital Asset’s Distributed Ledger Platform (BWCIO), Rated: B

Accenture has completed its first transactions using a distributed ledger technology (DLT)-based application that delivers enhanced enterprise software asset management capabilities. The new application uses Digital Asset’s smart contract language, DAML, to model and enforce software license events throughout their lifecycle, from origination to purchase, which simplifies tracking, usage and audit functions.

Crypto payment app Wirex unveils partnership with blockchain “piggy-wallet” Pigzbe (Cryptoninjas), Rated: B

Wirex, a crypto wallet, and payment app announced its first corporate partnership with the blockchain-powered ‘piggy-wallet’, Pigzbe (WLO). The partnership will see Wirex list Pigzbe’s native WLO token alongside its existing Bitcoin, Litecoin, Ethereum, and XRP wallets. In turn, Wollo holders will be able to buy, store, exchange and spend WLO through the existing Wirex app and Visa card.

European Union

In 24 Hours Nexo Sees Over $ 2Million In XRP Crypto-Backed Loans Requests, Considers xRapid (Today’s Gazette), Rated: AAA

Credissimo supported crypto lending platform ‘Nexo’ received more than $2,000,000 in XRP crypto-backed loans requests within 24 hours, stating that it is considering the integration of  xRapid in the future.

Rally Above $ 250 Could Propel ETH/USD Towards $ 400 (Ethereum World News), Rated: AAA

Remember, the objective is to ensure that Serenity—or Ethereum 2.0 would be backward compatible with Ethereum 1.0. This delay is simply because developers are trying to integrate scalability options into the legacy chain.

Gains are tight and though ETH/USD pair is up 0.4 percent in the last week, it is down the same margin in the last day indicative of a ranging market.

Everything else constant, it will be ideal if ETH/USD buyers build momentum to drive prices past $250-$300. However, this seems unlikely from candlestick arrangement.

Ethereum
Source: Ethereum World News

Ethereum Developer: Serenity Is Moving Really Fast, Sharding By 2020 (Ethereum World News), Rated: A

However, while sharding is undoubtedly a game-changer, many have criticized the project’s developers and community for being slow. Drake touched on this, claiming that there have been “mistakes” and “over-promising,” chalking the delays up to miscommunication and “underestimating the complexity of things.”

ETH/USD Stable As Price Accumulates Inside a $ 30 Trade Range (NewsBTC), Rated: A

Like in our last Ethereum trade plan, all we need are strong gains above the resistance zone at $250-$300 or discouraging losses below Sep lows at $160. Either way it shall be a break out pattern but it would be ideal if prices rise above $250 now that it has been 11 months of relentless bear pressure. Currently, it’s clear that ETH/USD is consolidating inside a $30 range with psychological minor support at $200.

Ethereum’s Constantinople Hard Fork Could Happen By January 2019 (Invest in Blockchain), Rated: B

Proclaimed world computer and renowned smart contract cryptocurrency Ethereum could see their Constantinople hard fork happening as early as January 16, 2019. The Constantinople upgrade was formerly delayed after developers found some bugs on the testnet platform.

However, after further testing and development, a new timeline for the upgrade was proposed in a recent Ethereum core developer meeting. As noted in the meeting minutes on Github, 2 dates were suggested for the fork, either January 12 or January 16.

BAT Retraces After Coinbase Effect Boost, but up 4% Today (Blokt), Rated: AAA

Basic Attention Token (BAT), the most recent cryptocurrency to list on Coinbase Pro, did receive a price boost of up to 50% leading up to and after the event, but then sharply declined for consecutive days losing all the gains. However, BAT is one of the top altcoin performers today recording a strong 4% gain.

Basic Attention Token
Source: TradingView.com

Significant Ethereum (ETH) Balance Moved to Binance to Await Action (cryptovest), Rated: AAA

Several large tranches of Ethereum (ETH) have gone into a known Binance wallet from previously unknown addresses. The transfers are yet to make significant whale moves, and the intention behind the transfers is unknown.

New Russian malware mines different cryptocurrency based on your system (The Next Web), Rated: A

Is your computer suddenly sluggish and hot all the time? You might have fallen victim to this new Russian malware designed to steal your computing power to secretly mine cryptocurrency.

Researchers from McAfee labs have discovered a new breed of crypto-jacking malware which cannibalizes your computing power to mine Monero or Zcash.

Market manipulation? Binance system upgrade coincides with BCH fork (Chepicap), Rated: A

Binance has announced a system upgrade for November 14. This means that the exchange will be temporarily unavailable, and many observers are growing suspicious that this is timed to coincide with the upcoming Bitcoin Cash (BCH) fork.

Sweden’s central bank to test digital currency (ComputerWeekly), Rated: A

Sweden’s vision of a cashless society has gained traction after the Riksbank (central bank) rolled out plans to test a digital currency, the e-krona.

WITHOUT A DIGITAL CURRENCY, SWEDEN FACES THE PRIVATIZATION OF MONEY (Bitcoinist), Rated: A

Retail payments in Sweden are now almost entirely cashless. Without a central bank digital currency (CBDC) Sweden’s entire payments market would be reliant on the private financial sector.

In Sweden today, cash in circulation forms just 1% of the countries GDP.

Swiss exchange SIX expects blockchain-platform to rule in 10 years (Nasdaq), Rated: B

Swiss exchange SIX expects its traditional trading platform to be overtaken within a decade by an alternative it is launching that will be based on blockchain technology.

United Kingdom

CoinGeek £5M token solution winner ‘Tokenized’ releases white paper (CoinGeek), Rated: AAA

The white paper of Tokenized, winner of CoinGeek’s £5 million contest to put a tokenization solution on the Bitcoin BCH chain, is now available for public preview.

smart contract management
Source: Tokenized

Read the full white paper here.

Nestled in the heart of London’s financial establishments, the cryptocurrency revolution is trying to get you tipsy. Last month, Scottish brewer BrewDog announced that its new Canary Wharf pub in would be the first of its 61 locations to take Bitcoin and Bitcoin Cash as payment. Inverse visited the pub to try it out for ourselves, armed with a credit-card sized crypto wallet called the CoolWallet S, to see if the crypto revolution is ready to buy you a beer.

While paying for a pint might seem like a publicity stunt, it’s still the sort of adoption bitcoin desperately needs. The pub’s opening comes amid cooling enthusiasm following the heady days of December 2017 when one bitcoin was worth nearly $20,000 (or about 4,000 pints):

Coinbase CEO Brian Armstrong estimates that just 10 percent of cryptocurrencies are used in actual purchases.

China

Ripple Looks To China For Collaboration (CryptoDaily), Rated: AAA

The firm behind the third largest cryptocurrency, Ripple has been successful in keeping a hold of its priority target market which is China. This is thanks to the approval of LianLian’s joint venture American Express to process card payments in China.

The operation of American Express was given the green light by China which makes it the first American firm to be given a direct access to the China e-commerce market. This approval gives American Express the power to resolve payments and transactions in Yuan. The settlement of payments can be done through its joint venture LianLian Group which is one of Ripple’s clients.

Chinese City in Hunan Province Launches Blockchain Platform for Real Estate Data (CoinTelegraph), Rated: A

The Chinese city of Loudi has launched a blockchain platform to store real estate data, the Chinese Communist Party’s official newspaper, People’s Daily, reports Nov. 13.

The platform is backed by land, tax and real estate departments in the city, which is located in central Hunan province. Starting Nov. 15, the new system will let citizens avoid lines and other bureaucratic processes when submitting documents to the above-listed departments, the newspaper states.

Asia

PURE BIT BAMBOOZLES INVESTORS IN $ 2.7 MILLION ICO EXIT SCAM (Bitcoinist), Rated: AAA

Pure Bit lured investors in with promises of a rewarding ICO then mysteriously vanished, taking 13,000 worth of ETH with them.

The South Korean exchange is accused of pulling an exit scam after raising nearly 13,000 ETH ($2.7 million) in ICO funds.

Cryptocurrencies Drop Despite Swiss Digital Currency Certification in Middle East (Investing), Rated: A

Cryptocurrencies fell on Tuesday morning in Asia despite new confidence in blockchain crypto currencies, including the cash and gold-backed digital currency X8, which received Sharia certification by the Shariyah Review Bureau for Islamic investors.

Bitcoin edged down 0.92% to $6405.7 at 11:16PM ET (03:16 GMT) on the Bitifinex exchange.

Ethereum slid 1.3% to $211.08 on the Bitifinex exchange.

XRP was the only gainer among major cryptocurrencies, seeing a rise of 1.57% to $0.51795 on the Poloniex exchange.

Litecoin lost 2.81% to $50.323 on the Bitifinex exchange.

Indonesian futures exchange plans blockchain for gold (Ledger Insights), Rated: A

Today the Jakarta Futures Exchange (JFX) announced that it is joining forces with Kinesis Money and Allocated Bullion Exchange to create a commercial blockchain venture.

Major South Korean Hospital to Use Blockchain Tech for Medical Information Services (CoinTelegraph), Rated: A

One of the South Korea’s largest hospitals has partnered with a local tech company to develop a medical services platform based on blockchain technology, according to the hospital’s official press release Nov. 12.

Crypto Scammers Busted for Offering Fraudulent ‘Halal’ Investment Scheme (CryptoGlobe), Rated: B

Indian citizen Syed Fareed and his son, Syed Afaq Ahmed, have reportedly been involved in a fraudulent cryptocurrency investment scheme.

Indian authorities found that Ambidant Marketing and investment firm, run by Faheed and Ahmed, was offering fake “halal” crypto investment contracts, while also misusing Islamic scholars to lure Muslim investors.

Eurasia

25,000MT of Black Sea wheat traded on blockchain (CoinGeek), Rated: AAA

25,000 metric tons of Russian milling wheat was sold by Solaris Commodities SA for December delivery to Trans-Oil International SA, with the transaction tracked via a smart contract on the Cerealia grain trading platform.

According to a blog post by Cerealia CEO Andrei Grigorov, it was the first blockchain-powered transaction for Black Sea grains. The price of the transaction was not disclosed.

Raiffeisen Bank, Gazprom Partner to Issue Bank Guarantee on Blockchain (CoinTelegraph), Rated: A

The Russian subsidiary of Raiffeisen Bank International has partnered with local state-owned oilgiant Gazprom Neft to issue a bank guarantee on blockchain, Russian business newspaper Kommersant reported Nov. 12.

According to Kommersant, the bank guarantee was issued to conduct a trade finance transaction involving four parties, Raiffeisen, Gazprom Neft, Belarusian firm Mozyr Oil Refinery, Priorbank of Belarus. Raiffeisen acted as an advising bank for the Russian oil company, while Priorbank of Belarus, which is part of  Raiffeisen bank group, issued a bank guarantee for the deal via blockchain.

Middle East

Swiss digital currency firm X8 eyes Islamic investors for ME expansion (IBS Intelligence), Rated: AAA

X8 Ag, a Swiss-based cryptocurrency firm, plans to expand into the Middle East region by tapping demand from Islamic investors. The firm today said that it has acquired Sharia compliance for its digital currency and wealth solution powered by artificial intelligence.

Pacific Islands

CRUCIAL VOTE PUSHES MARSHALL ISLANDS CLOSER TO A NATIONAL CRYPTOCURRENCY (Bitcoinist), Rated: AAA

Marshall Islands President Hilda Heine looks to have a clear mandate to keep pushing forward with her proposed state-backed cryptocurrency after navigating through a no-confidence vote.

Reporting by the Nikkei Asian Review says the island’s head of state survived since parliament was in a 16-16 deadlock over the decision.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *