Cryptocurrency Daily News Bulletin: September 25, 2018

September 25, 2018 1:16 pm Published by

General News

The Bank for International Settlements (BIS) released a report showing that “crypto markets rely on regulated financial institutions to operate and that these markets are segmented across jurisdictions, bringing cryptocurrencies within reach of national regulation.” This defies the original intention of crypto’s to be self-sufficient.  

Coinbase has teamed up with token-based trading protocol startup Caspian to boost its offerings aimed at pro traders and financial firms. Coinbase Pro will integrate Caspian’s “full stack” of tools to bring additional trading and portfolio management capabilities.

IBM’s latest blockchain report claims developers and companies researching blockchain technology are looking to the U.S. government to help spur adoption. This comes as representatives from U.S.-based financial giants and crypto startups meet with Washington lawmakers today to discuss the regulatory landscape.

Walmart has told its suppliers for leafy green produce to integrate a blockchain-based tracking system built in collaboration with IBM by September 2019. According to the letter sent to suppliers, any company working with Walmart must work with the IBM Food Trust network to create end-to-end traceability. The move comes in the wake of an E. coli outbreak that originated in Arizona earlier this year.

Italian football Series A champions Juventus FC have become the latest top-level European football club to announce a partnership with a blockchain company, Socios.com, and the launch of the ‘Juventus Official Fan Token.’ A Fan Token Offering (FTO) will be held in Q1 2019. Holders of Fan Tokens will gain access to an exclusive mobile voting and polling platform that will allow their voices to be heard.

Malaysia is seeking to explore blockchain solutions in the nation’s three largest industries: renewable energy, palm oil, and Islamic finance. A task force named the Malaysian Industry-Government Group for High Technology (MIGHT) will be spearheading the move for adoption in each industry.

Russian subsidiary of Raiffeisen Bank International has issued an electronic mortgage using local blockchain platform Masterchain.

Thailand’s largest bank by market cap, Kasikornbank, has become the first financial institution in the country to get on board the Visa B2B Connect platform. Designed to enable fast and secure cross-border payments between businesses using blockchain technology, the platform relies on a permissioned private blockchain architecture operated by Visa Inc. The platform is built on Chain, an enterprise blockchain company recently acquired by Stellar.

Cryptocurrencies

Bitcoin $6,425.66 USD (-2.76 percent) is being increasingly held by active individual users, rather than companies and long-term investors, according to new data from Chainalysis. The analytics firm found 4.8 million bitcoin was held in personal wallets with some level of transactional activity as of Aug. 31, substantially up from the December 2017 peak of 3.8 million. Chainalysis economist Philip Gradwell claims this shows the market is maturing and becoming less concentrated.

Brave $0.154450 USD (-7.24 percent) Browser has been seeing phenomenal growth, as entrenched giants like Google Chrome shred their privacy policies. The Brave Android app now has more than 10 million downloads and 4 million monthly active users, up from 3 million in July.

Ethereum $211.15 USD (-9.54 percent): Grid+, a blockchain startup operated by ConsenSys, the largest blockchain software company in the world operated by Ethereum co-creator Joseph Lubin, has successfully started to supply electricity to its clients in Texas. Using a unique hardware gateway system and a blockchain solution, the startup has been able to distribute renewable electricity like solar and wind energy to consumers on the Ethereum mainnet. The system utilizes the Raiden Network, a scaling solution on Ethereum that is often described as the Ethereum’s Lightning Network.

Zcash $132.92 USD (4.85 percent): Vitalik Buterin has been discussing the potential for Ethereum to borrow Zcash’s ZK-SNARKS technology to “mass-validate” ETH transactions, which allows relaying nodes to “verify the correctness of computations without having to execute them” or “learn what was executed.” Buterin estimates the integration of ZK-SNARKS could allow Ethereum to process a maximum of around 500 transactions per second, up from the current cap of approximately 15. That not only represents a 3,200 percent increase in network capacity but also accomplishes this feat without the use of Plasma and other second-layer scaling solutions. 

WN.com, Jamie Saarloos



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