September 14th, 2018
QUOTE OF THE DAY 
"It's better to be a lion for a day than a sheep all your life."
- Elizabeth Kenny
| COIN | PRICE | 24H |
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| BTC | $6,477.72 | -0.17% |
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| ETH | $209.03 | +4.76% |
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| XRP | $0.27705 | +0.10% |
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| BCH | $451.00 | +0.52% |
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| EOS | $5.26 | +2.15% |
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*Information as of 9:30 AM EST
Crypto Custody Service Wins U.S. Regulatory Approval to be a Qualified Custodian
WELCOME TO THE BIG LEAGUES
- Yesterday, blockchain security company BitGo announced that BitGo Trust Company is now a regulated cryptocurrency custodian for institutions
- The approval comes from South Dakota's Division of Banking that oversees financial institutions and ensures the public's interest is protected
- For BitGo, this is a huge step forward as it can now proceed to offer custodial services across the United States
THE MISSING PUZZLE PIECE
- It is a well-accepted opinion that custodial services are a missing piece of the puzzle to bring large investors into the industry
- As more custodial companies like BitGo continue to enter the regulated arena, institutions instill more trust in the industry
- In addition, family offices and hedge funds are required by the U.S. Securities and Exchange Commission (SEC) to use a custodial service to hold funds if the assets exceed $150 million
TABB Group senior analyst Monica Sommerville explained to CNBC the importance of crypto custodial services:
"This is the missing piece for infrastructure it's a treacherous environment today. Hedge funds need it, family offices need it, they can't participate in digital currency until they have a place to store it that's regulated."
DETAILS YOU SHOULD KNOW
- BitGo will support 75+ different coins and tokens including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), Ethereum (ETH), Bitcoin Gold (BTG), and Zcash (ZEC)
- The digital assets are stored 100% in cold storage (meaning offline) and are in bank-grade Class III vaults
- In the near term, BitGo expects to offer this service to its client base that spans more than 50 different countries and includes some of the world's largest exchanges by volume
Blockchain Could Facilitate Over $1 Trillion in New Global Trade, Says the World Economic Forum
TRADE GAP
- With our current financial infrastructure, it is difficult for small and medium-sized businesses to compete with the large corporations
- Especially, in East Asia and the Pacific region where small and medium-sized businesses have limited access to credit
- These factors result in a trade gap that is estimated to be $1.5 trillion and projected to increase to $2.4 trillion by 2025
A report issued by the World Economic Forum states:
Distributed ledger technology, can reduce a large part of this gap, facilitating about $1.1 trillion of new trade volumes globally. Trade allows countries to specialize in industries; it helps technologies and ideas to spread, and yields economies of scale. But a major impediment stands in the way of expanding trade and making it more efficient and safe: namely, paper-intensive, manual processes.
THE GREAT EQUALIZER
- Blockchain is a very much democratizing technology
- Distributed ledgers permit every to have an equal role in a network and eliminate the need for trust that small and medium-sized businesses do not currently receive
- Further adoption of blockchain will only make opportunity fairer, which will result in a positive impact for everyone
ICO Projects Have Sold 160,000 Ether Over the Past 10 Days
DUMPING ON THE MARKET
- Ethereum has been through a tough 2018 as the cryptocurrency is now hovers just above $200 after touching $1,120 earlier in the year
- Many are pointing to the ICO boom as the cause for Ethereum's steep price increase as investors ate up Ethereum to purchase ICO tokens
- Now, according to Trustnodes, 160,000 Ethereum have been sold within the last 10 days and a total of 283,000 Ethereum have been sold within the last 30 days
- The average August daily transactions are around 1,000 to 5,000 Ethereum sold per day with an occasional sale of 10,000 while the average September daily sale is closer to 10,000
R.I.P. ICOs?
- In August, ICOs saw their lowest amount of funding since May 2017 with a funding amount of $326 million
- Adding to that, yesterday, Sonny Singh of crypto payment processor BitPay claimed that altcoins "will never come back" since institutions will launch Bitcoin products, not altcoin products
- For now, it is unclear whether the ICO model will continue to grow in 2018, however, it is now clear that investors are far more cautious when entering an ICO
Crypto Investors Indicate Desire to be Paid in Bitcoin, According to Study
GIMME THE CRYPTO
- According to a new study from the Human Resources startup ChronoBank, cryptocurrency investors wish that their employer paid them directly in crypto
- ChronoBank surveyed 445 crypto investors and 66% said that they are willing to receive their paycheck in crypto
- However, the respondents are less of a believer of it actually happening, 30% said that they can foresee companies actually compensating in crypto
ChronoBank CEO Sergei Sergeinko said that companies need to listen to what employees want:
Most revealing was that 72% of those surveyed said they would prefer an employer who has the salary payment option in the cryptocurrency when choosing their next place of employment. These results suggest that employers need to get up to speed with crypto sooner rather than later.
HODLER MENTALITY
- Many of the respondents identify as a "hodler" and said that being paid in crypto would cause them to spend less
- In fact, 19% of respondents said they wouldn't use their crypto paychecks at all in hopes that the value would rise
CRYPTO SOLUTION
- Sadly, many people live paycheck to paycheck and struggle to make it two weeks until the next paycheck
- This is where crypto's ability to cost-effectively host microtransactions can solve a real-world problem
- With crypto, instead of being paid every two weeks, employees could be paid by the minute, giving them the funds they are owed right away to be able to be used on living expenses
- IBM has teamed up with enterprise blockchain firm Hacera to launch a yellow pages-like directory.
- Japan's SBI Holdings says it will roll out a Ripple DLT-based payments app for iOS and Android this autumn.
- CEO of the now-defunct U.S. crypto firm GAW Miners has been sentenced to 21 months in prison for defrauding investors.
QunQun (QUN)
QunQun is a completely new incentive community platform based on blockchain technology. On QunQun, users can easily create their own theme community without encoding and deploying, and obtain extra tokens from the reward pool through operating it or submitting contents to the communities.
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