Blockchain Daily News
End of our first week but not end of work this week…. We will use the weekend days to review our work and your feedback after these first editions.
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I am Florin Adrian Oprea and my comments are marked FAO.
Enjoy Blockchain Daily News (BDN)! Catch up Monday!
OMG Section!?!!
Cryptocurrency Has Its Potato Salad Moment With the Useless Ethereum Token
Brady Dale - Observer
It’s been almost three years since Zack Brown raised $55,000 on Kickstarter for a potato salad. His goal was $10.
ICO’s have gotten their own answer to the potato salad campaign. It’s called the Useless Ethereum Token (UET), and its creator will absolutely sell you cryptocurrency good for absolutely nothing.
FAO: I am absolutely astonished by this campaign and by the fact that, so far, UET has acquired 52 ETH, worth an equivalent of nearly $14,000….Hope the initiator (a John Doe…) of this ICO is just trying to trigger the alarm on how easy huge amounts are raised for various campaigns, bringing, in some cases, relative value for their buyers.
Deals, Investments & M&As
Former Bain Manager Launches $50 Million Bitcoin and Ethereum Fund
Michael del Castillo - CoinDesk
The newly formed Crypto Assets Fund (CAF), co-founded by former senior manager at Bain, Roberto Ponce Romay, is helping to raise $50m with the purpose of buying cryptocurrencies for family offices in Latin America. CAF will invest directly in bitcoin, ether, zcash, ripple, litecoin and dash.
FAO: Next step - ICOs, as the article stipulates...
Cryptocurrencies
Cryptocurrency Markets Enter Into Maturity Phase, Acceptance Around Corner
Shivdeep Dhaliwal - Cointelegraph
Cryptocurrencies have come into their own. For the longest time, the question that everyone would ask was whether their favorite cryptocurrency (usually Bitcoin) would survive in the future?
Exchanges & Trading Venues
Ethereum Traders File Class Action Lawsuit Over Kraken Flash Crash
Stan Higgins - CoinDesk
A class-action lawsuit has been filed against cryptocurrency exchange startup Kraken over issues stemming from its management of a May flash crash.
FAO: NB Coinbase already started reimbursing losses caused by the Ethereum flash crash.
IRS Says It Will Limit Bitcoin Audits—But Only A Bit
Jeff John Roberts - Fortune
The Internal Revenue Service suggested it will scale back a sweeping probe of more than a million customer accounts at the popular digital currency exchange Coinbase, saying it will no longer seek password and security settings for the accounts.
Vendors
22 Banks Join Swift Blockchain Project
Finbarr Bermingham - Global Trade Review
The project is designed to determine if blockchain technology can help banks reconcile their international nostro accounts in real time and is part of Swift’s global payments innovation (gpi).
BitPeople
Former Dogecoin Exchange CEO Faces Fraud Charges
Stan Higgins - CoinDesk
UK police have brought fraud and money laundering charges against Ryan Kennedy, the founder the now-defunct dogecoin exchange service Moolah.
Latest Developments & Agreements
Luxembourg Funds Industry Completes First Live Blockchain Transaction
Finextra
Investors have completed the first live share purchases over a blockchain-powered fund distribution platform.
FAO: The transactions were executed for Natixis Asset Management using a platform co-developed by Fundsquare, InTech and KPMG.
Regulation
South Korea Prepares Bitcoin Regulation as Top Exchange Suffers Massive Hack
Diana Ngo - Coin Journal
South Korean lawmakers are preparing a set of bills to give cryptocurrencies such as Bitcoin and Ethereum, legal grounds in the country, a move aimed at protecting locals from potential risks in transactions.
FAO: The alarm was triggered by yesterday’s attack. The PC of an Bithumb employee was hacked. Bithumb is South Korea’s biggest cryptocurrency exchange.
Ethereum May Be Regulated Like Bitcoin
Joseph Young - The Merkle
Ethereum is likely to be regulated by many governments in the upcoming months. Some countries including South Korea, China, and the US are already preparing to regulate Ethereum and its ICO market. This is because of the rising popularity of ICOs and large amounts of capital being invested in them.
Startups, Accelerators & Hubs
ZhongAn Reveals Blockchain Product Details in Draft IPO Filing
Wolfie Zhao - CoinDesk
China's first online-only insurer ZhongAn filed for an IPO on June 30, revealing new details about its blockchain development in the process.
FAO: ZhongAn filed for an IPO in Hong Kong worth up to $1.5 billion - reported here in our sister publication FinTech Daily News.
Analysis
Beat The Flash Boys Of Cryptocurrency Trading with AICoin
Avi Mizrahi - Finance Magnates
Gavin Smith is the CEO of First Global Credit, a London-based cryptocurrency capital markets company, who is behind an upcoming ICO for AICoin. He sat down to talk with Finance Magnates about the idea behind the offering, the value it will deliver to investors, algo trading and how blockchain technology allows for new forms of cooperative organization.
Other news
Sweden Officially Started Using Blockchain to Register Land and Properties
Joseph Young - Cointelegraph
Lantmäteriet, the land registry of Sweden, officially started to utilize Blockchain technology to register land and properties.
5 Brand-Name Businesses That Currently Accept Bitcoin
Sean Williams - The Motley Fool
There's a really good chance you're a customer of at least one of these companies.
FAO: Overstock.com, DISH Network, Microsoft (have you heard of that?), Intuit, PayPal (another newcomer)...
Opinion
Blockchain Represents the “Fourth Industrial Revolution”
Mark Melin - ValueWalk
Despite recent electoral attempts to slow down globalization, in reality that trend has a powerful force behind it that is not slowing down. In part, Blockchain, or distributed ledger technology as certain developers refer to it, is illustrative of the force of globalism.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News
Copyright © 2017 Blockchain (Asia) Ltd., All rights reserved.
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