Wednesday, May 29, 2019

Congressional Research Service / Samani Talks Ethereum / BTC In Excel / Salesforce Blockchain Platform

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$BTC (4:00 p.m. EST): $8,689.53 (-0.24%) // 90-day high: $8,907.17 // 90-day low: $3,733.75 / / More

$ETH (4:00 p.m. EST): $271.84 (-0.01%) // 90-day high: $278.51 // 90-day low: $125.40 // More

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1. In a report, the Congressional Research Service noted that bitcoin usage is meager compared to traditional non-cash payment systems like credit, debit, ACH, Venmo, Apple Pay and check payments. A finding in the report stated that the price of bitcoin does not reflect usage or its overall demand. The CRS said, "For example, in 2019 through March 12, the Bitcoin system averaged about 310,000 transactions per day globally, a pace that would result in about 113 million transactions per year." In 2015 non-cash payments totaled more than $144 billion. -ROLL CALL

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2. Multicoin Capital co-founder Kyle Samani penned an article on the current state and future of ethereum. Samani noted that because of current limitations that include latency, throughput, and cost constraints, Ethereum cannot scale and support applications that developers want to build. However, Samani pointed out a few key points on how ethereum can keep its monetary premium in the current and future crypto ecosystem. 

  • The security budget for the Ethereum ecosystem as a whole grows.
  • Liquidity increases, making it easier for market participants to utilize ETH.
  • The power of the single schelling point that is the Ethereum blockchain grows (e.g. brand value, integrations with 3rd parties). -MULTICOIN CAP
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3. From The Forums: Redditor mtimetraveller posted a screenshot showing bitcoin as an option in Microsoft Excel. As an option in the dropdown Symbol category, users will be able to presumably calculate their BTC gains and losses within the spreadsheet. With the top-ranked comment in the thread, Metamillan responded to the post by joking, "Bitcoin partnership with Microsoft confirmed."

From The Forums: BTC In Excel
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4. Salesforce released a blockchain platform for developers to create blockchain networks and share distributed data across partner and third-party networks. Built on Hyperledger Sawtooth, Salesforce Blockchain will consist of three components that will allow developers to build blockchain applications, integrate blockchain actions directly with applications and invite inside or third-parties to the blockchain application. In a conference call with reporters, Salesforce president, and CPO Bret Taylor said, "We help companies build for the future by making breakthrough technology accessible and easy to use — today we are doing just that with Salesforce Blockchain. Now, companies will be able to create new ecosystems and achieve new levels of interconnectivity through trusted partner networks." -VENTURE BEAT

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5. EOS passed litecoin to become the fifth most valuable cryptocurrency with a market cap of $7.4 billion. -AMB CRYPTO

6. Honeywell integrated blockchain technology into its used aircraft marketplace to speed up transactions and bring transparency to the origin of parts and certification. -WALL STREET JOURNAL

7. IBM's head of blockchain Jesse Lund is leaving the company. -CRYPTO CURRENCY NEWS

8. Tezos is going to undergo its first on-chain blockchain update to reduce the number of tokens needed to become a baker on the platform. -COIN DESK

9. Bitcoin SV is up over 50% in the last 24 hours reaching $180 as a fake news article spread that said Craig Wright transferred Bitcoin from the biggest BTC wallet to Binance. -CRYPTO POTATO

10. Barclays Bank invested in Crowdz, a blockchain-based B2B payments startup focused on the global receivables market. -COIN DESK

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside) and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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