Friday, February 1, 2019

Round 2, Fight 👀

February 1, 2019

The ETF Race is Back On After Cboe Resubmits Proposal

Following the end of the partial U.S. government shutdown, Cboe has resubmitted its rule change proposal that would allow the exchange to list the VanEck and SolidX Bitcoin exchange-traded fund.

The announcement came Thursday from VanEck, but has yet to be published in the Federal Register.

After publication, the clock will start a 240 day countdown that will lead to a final decision date - meaning the previous February 27th deadline is void.

More time, more likely

Earlier this month the proposal was pulled because it likely faced rejection after ongoing talks with regulators had been put on hold.

That can be seen as a positive. With an extra 8 months now we are facing a deadline date around early October - enough time for regulators to seek and discover whether Bitcoin markets are manipulated.

Regardless, it will make regulators more comfortable in a yes scenario, whereas the no scenario could have been from lack of information.

ADOPTION

IBM Successfully Tracked 28 Tons of Oranges on the Blockchain

This week 108,000 mandarin oranges were delivered from China to Singapore using blockchain-based tracking - marking a successful trial run for tech giant IBM.

Previously, the tracking process included a physical document called the bill of lading. This document served as proof of ownership, receipt of goods, and contract of shipment and could take up to five to seven days to mail all parties involved.

But now, with IBM's electronic bill of lading, or e-BL, the process has been cut to as little as "just one second."

More than just time

But the benefits don't stop at saving time. According to IBM, the new system cuts electricity costs and storage expenses, while also providing better barriers to fraud.

Executive Director of Pacific International Lines Lisa Teo commented on the new system:

"To-date, we have received very positive feedback from the industry and authorities, and we are enthused by the possibilities of how our blockchain developments can transform and inject a much-needed boost in efficiency and innovation into the industry."

TRADING

Bitcoin Broke a Record with its Sixth Consecutive Month of Losses

This slide has been bad. So bad, in fact, that for the first time in Bitcoin's existence it has dropped for sixth months straight adding up to a 63% loss.

Reported by CoinDesk, the new record has jumped in front of the 2011 slide when Bitcoin fell for five months straight and carried a 81% loss.

But Bitcoin's losing streak could stop this month as February is historically a good month for the digital currency.

February turns bull?

Out of the last seven years of price history, Bitcoin has dropped only twice, in 2012 and 2014, in the month of February.

That means for the last four years Bitcoin has posted positive results.

While the overall trend hasn't been bucked quite yet, investors and traders might be feeling a little better this February.

BITS

But wait, there's more...

👀 Smart contract auditor Hosho cuts 80% of staff to slim down for a long winter.
🤨 Paypal co-founder admits the company originally aimed to create a global digital currency similar to crypto.
🚀 Fidelity says its crypto trading and storage platform are in their "final testing."

MEME