Wednesday, April 3, 2019

Beyond Bitcoin: Exploring Further Blockchain Use Cases

Beyond Bitcoin: Exploring Further Blockchain Use Cases

Join our meetup on 11 April at the Centrality office (ground floor, 48, Emily Place, Auckland) for 'Exploring Further Blockchain Use Cases'.

Register Here

We all know blockchain technology powers Bitcoin and other cryptocurrencies, but its applications move far beyond just finance... So, what are the other industries leveraging this tech? We've lined up two of the most exciting up-and-coming blockchain businesses to take you through live demo of their solution.

TrackBack is a fully transparent end-to-end traceability solution, which enables anyone, anywhere to see the life cycle and provenance of the food they're eating, the garment they're wearing, or the pharmaceuticals they're consuming.

Iomob is building a platform for transit operators, bus and rail companies, auto manufacturers and others, to address the problem of disconnected and inefficient transport in cities.

Register Here

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📌 Bitcoin's Surge, Bithumb Hacked Again, and SEC Issues Framework

 MUST READS 

BTC Passes $5k... Why?


So what's to blame? Some people are pointing to an April Fools' Day story that the SEC had approved Bitcoin ETFs, while others are saying it has to do with a single $100 million dollar order.

Whatever it is, we'll take it. 😉

And if you're reading this letter for the first time in a few months looking for any confirmation on whether to buy again or not... you're out of luck. We urge everyone to not make any rash investment decisions this week, especially after this (dare we say, temporary?) pump.
 

Inside Job? Bithumb Cryptocurrency Exchange Hacked a Third Time in Two Years


South Korean cryptocurrency exchange Bithumb admitted to getting hacked again on Friday, March 29. At this point, we can all agree Bithumb hasn't learned from their past mistakes. This is the third such incident the platform has reported in the past three years.

According to CoinDesk Korea, many exchanges manage wallets with secure, multisig systems. Bithumb however only used a single key... leading many to believe this was an inside job. Like most hacks, additional details will continue to spill throughout the week.
 

Coinbase CEO Wants to 'Overthrow Some Corrupt Dictators'


A Q&A livestream on April 2, featuring none other than Coinbase CEO Brian Armstrong, briefly veered into the absurd when the 36-year-old told viewers that he'd love it if his company could help topple some governments. Yes, you read that correctly.
 

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 DEEP DIVE 

The 100+ Projects Pioneering Decentralized Finance


Decentralized finance has grown into one of the most active sectors of blockchain in 2019. From stablecoins, decentralized exchanges and wallets... to payment networks, lending and insurance platforms, marketplaces, and investment engines — the decentralized finance ecosystem is flourishing.

To help with this growing ecosystem, Consensys put together a wide-reaching list of the projects pioneering decentralized finance, broken down by category.
 

Coinbase is Getting into the Proof-of-Stake Business. What Does that Mean?


Last week Coinbase announced that it will provide custodial staking services for its larger clients, allowing them to benefit from owning proof-of-stake (PoS) based cryptocurrencies. Bottom line: Coinbase Custody clients will now be able to squeak out more returns from their PoS assets via staking.

The service will roll out first for the Tezos network, and Coinbase says it will soon add support for staking on the Maker stablecoin system. 🚀

Here's a solid foundational piece from Meltem Demirors explaining why "2019 is shaping up to be the year of staking."
 

Public Market Recap Q1


The folks at Skew love numbers... and they just released a really good Q1 recap on all things crypto derivatives. Get ready for a lot of graphs, trends, and charts.

TL;DR: BTC volatility is pretty weak these days. Volume is healthy. And correlations are still very strong.
 

Ethereum is Game-Changing Technology, Literally.


People often ask, "What is Ethereum for?" Previous answers to this question often included the phrase "world computer", but despite some interesting examples, it's been difficult to answer this question at a more abstract level. Virgil Griffith offers a potential answer to this question for all you game theory fans out there:

"Ethereum is an unprecedented arena for playing cooperative games.
And moreover, Ethereum enables powerful economic vehicles we don't yet understand."

 

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We recently put together a full, step-by-step guide to making money with pot stocks. And because you're an active reader…

I wanted to make sure that you got your FREE copy sent to you right away.

Click here for details on how to claim this step-by-step pot stock guide.

 REGULATORY FRONT 

🏛️ Long Anticipated, SEC Issues Framework & Analysis for Digital Assets


Let's start with the obvious – clarity from the SEC in the regulatory space regarding blockchain technology and digital assets has been long-awaited for many. And while the statement represents the views of the SEC Staff and is not viewed as a set in stone rule, regulation, or statement of the Commission, this publication should be positively received by this fast emerging sector of Fintech.

If you want the finer details on the recent announcement, we suggest you read what Katherine Wu broke down for us this morning. For a bigger picture, here's the less-enthusiastic Preston Byrne on the matter.

 

🚨 Police Freeze Bank Accounts, Seize Luxury Cars in Probe of $22 Million ICO Promoter Vanbex


Canadian police have frozen assets owned by the founders of blockchain services company Vanbex (FUEL), as part of a fraud investigation into a 2017 ICO that raised $22 million.

So what do they have to show for that $22 million? Two condos, two range rovers, a Lamborghini lease, and millions of dollars in high stakes gambling debts. Oh yeah, and no working product.

Last month the cars and condos were worth more than the tokens entire market cap.

 

 TWEET OF THE WEEK 

Other Articles You May Enjoy

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Bitcoin Passes $5,000 / Charles Hoskinson / Wash Trade / PayPal Acquisition

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$BTC (3:21 p.m. EST): $5,148.89 (8.54%) // 90-day high: $5,156.44 // 90-day low: $3,286.14 / / More

$BCH ABC (3:21 p.m. EST): $332.85 (56.82%) // 90-day high: $332.82// 90-day low: $80.95 // More

$ETH (3:21 p.m. EST): $181.11 (​9.92%) // 90-day high: $181.11 // 90-day low: $86.08 // More

$LTC (3:21 p.m. EST): $93.66 (30.96%) // 90-day high: $93.66 // 90-day low: $22.09 // More

$XRP (3:21 p.m. EST): $0.36 (6.54%) // 90-day high: $0.43 // 90-day low: $0.28 // More

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1. The price of bitcoin exceeded $5,000 per coin on Wednesday as cryptocurrencies have skyrocketed. Bitcoin's price jump looks small compared to bitcoin cash, which has risen more than 50 percent, and litecoin, which is up more than 30 percent this afternoon. While it is hard to pin a specific event on the recent price increase, experts largely agree that it is not because of an April Fool's prank that missed the mark. Finance Magnates posted a story on April 1 that said the SEC approved a bitcoin ETF. While the story itself gave some clues it was fake, a lot of crypto followers did not read the whole article, taking it at face value. "It's absurd to believe this market move is the result of confusion about the Bitcoin ETF filings," said Hunter Horsley, CEO of Bitwise. "Though ETFs and April Fools are topical, there are lots of reasons this is an unlikely explanation." –CNBC

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2. Charles Hoskinson, the founder of Cardano and one of the co-founders of ethereum, confirmed on Twitter that he is still working with the team at Ethereum Classic. There had been rumors that Hoskinson had stepped away from the project. Cardano has had a working relationship with Ethereum Classic since its beginning. Hoskinson had been an outspoken critic of ethereum changing it protocol following the DAO hack of 2016. –BE IN CRYPTO

Hoskinson still working on etheurem classic
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 3. Jargon Watch

Wash Trade: This financial term dates back to before the Great Depression, but has relevance today in the cryptocurrency market. A wash trade is a form of market manipulation where investors simultaneously place buy and sell orders to artificially increase trading volume. It is a tactic that some crypto exchanges have used to give the impression of more volume, so much so that researchers believe at least 87 percent all crypto volume is fake.

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4. PayPal has invested in Cambridge Blockchain, a digital identity enterprise software provider. This is the company's first official investment in the blockchain space. PayPal is one of a handful of investors in Cambridge Blockchain's Series A round. Moving forward, PayPal and Cambridge plan to explore potential collaborations to leverage blockchain technology. –SLUDGE FEED

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5. Leonid Bershidsky provides advice on how to handle bitcoin's latest price surge: Ignore it. –BLOOMBERG

6. Counterpoint: Allen Scott gives four reasons to buy bitcoin now just in case. –BITCOINIST

7. The Jamaica Stock Exchange will partner with Canadian fintech firm Blockstation to trial bitcoin and ether trades. –COINDESK

8. The Dolder Grand, a five-star hotel in Switzerland, will allow guests to pay with bitcoin starting next month. –COINDESK

9. Ethereum testnet 2.0 was delivered on time. –INVEST IN BLOCKCHAIN

10. Coincheck lauched over-the-counter trading for large-scale investors. –COIN TELEGRAPH

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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: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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