Thursday, September 13, 2018

Blockchain Association / Mt. Gox Update / $1 Trillion from Blockchain

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1. A number of high-profile cryptocurrency companies have formed the Blockchain Association, a Washington-based lobbying group to represent companies working with blockchain. The founding members include Coinbase, Circle, Protocol Labs, Digital Currency Group and Polychain Capital. The group has already made its first hire, bringing in Kristen Smith, a former aide to then-Sen. Olympia Snowe (R-Maine) who has lobbied blockchain issues for Overstock.com. –THE WASHINGTON POST

Companies come together to form Blockchain Association
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2. Mt. Gox's corporate credits can now enter claims to recover trapped bitcoin. Nobuaki Kobayashi, the rehabilitation trustee for Mt. Gox, said corporate creditors will have until October 22 to file proof backing their refund claims. The refund process opened for individual (non-corporate) users on August 23. Kobayashi will submit a statement of approval or rejection of the requests in January. –COINDESK

Mt. Gox corporate clients can now request refunds
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3. Morgan Stanley plans to offer swap trading of cryptocurrencies for clients, according to a report. The bank will create contracts that give investors synthetic exposure to the performance of bitcoin. The contract will allow investors to go long or short using price return swaps, essentially allowing them to trade the cryptocurrency without actually owning any coins. Morgan Stanley declined to comment on the report. –BLOOMBERG

Morgan Stanley introducing new crypto trading platform
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4. The World Economic Forum claims that blockchain could generate $1 trillion in trade over the next decade. The report argues that distributed ledger and similar technological innovations can bring "groundbreaking advances" in trade and supply china finance. Those changes could bring 30 percent in new trade volume. –COIN TELEGRAPH

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5. Cocos-BCX, a China-based blockchain game development platform, has raised $40 million. The company plans to use the funds to accelerate development of its platform. –VENTURE BEAT

6. The price of ethereum has crashed more than 20 percent this week before making a comeback over the past 24 hours. One analyst asks if this is the time to buy, or if investors should wait a little longer. –FORBES

7. Bitcoin's market dominance may only continue to grow. Despite the growth of altcoins over the past few years, bitcoin remains – easily – the most popular coin by a large margin. –FORBES

8. Ethereum's Constantinople upgrade was recently finalized. CoinDesk created a helpful guide to explain everything that will be in the upgrade. –COINDESK

9. Jani Ziedins of CrackedMarket believes the worst is yet to come for the crypto market. While coins rebounded slightly on Wednesday, the change in fortunes could be short lived. –MARKET WATCH

10. Bittrex will launch USD pairs for litecoin and tron. This will make it easier for Bittrex customers to purchase both coins, something the site has already done with the likes of stellar and cardano. –ETHEREUM WORLD NEWS

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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