1. JPMorgan Chase built an extension to the Zether protocol creating confidential and anonymized transactions. The extension is designed to add another layer of anonymity to transactions and will be compatible with ethereum and other smart contract platforms. Many banks have been reluctant to adopt blockchain technology into the transaction process as privacy and transparency concerns deter them. Oil Harris, JPM's head of Qourum and crypto-asset strategy said, "In the basic Zether, the account balances and the transfer accounts are concealed but the participants' identities are not. So we have solved that. In our implementation, we provide a proof protocol for the anonymous extension in which the sender may hide herself and the transactions recipients in a larger group of parties." -COIN DESK
2. French shipping company CMA CGM SA and Swiss-based Mediterranean Shipping Company joined TradeLens, a blockchain initiative created by Moller-Maersk and IBM. TradeLens was formed to bring transparency to supply chain logistics in the shipping industry.The addition of CMA CGM SA and MSC means that three members including Moller-Maersk control nearly half of all global shipping container cargo on the open seas. The underlying blockchain technology of TradeLens is meant to track goods as they move through the supply chain and share information among its members. -WALL STREET JOURNAL
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3. From The Forums: Inside CEO, Jason Calacanis, says that bitcoin will be priced between $0 - $500 in the future. Calacanis said that bitcoin operates in a manipulated market and that new technology will replace it in the future. He stated that speculators should keep a position in the currency that they were willing to lose, between 1-5% of net worth. He also tweeted, "It's possible that the early holders will clear their positions to a new group of global refugee seekers, making it built to last. I put that at < 30% right now. Energy consumption, hacking, regulation & a better version are likely negative scenarios — I bundle those at 70%". -NEWS BTC
Do you agree with Jason's statement? Why or why not? Hit reply to this email or send him a note on Twitter and tell him why.
(Also, while Jason is the Inside CEO, he reads Inside Bitcoin at the same time as other subscribers, and did not have direct input into the contents of today's issue.)
4. A Yahoo Japan backed cryptocurrency exchange is launching on Thursday. Taotao is a regulated cryptocurrency exchange which Yahoo Japan acquired a 40% stake in March 2018 for $18 million. Taotao gained regulatory approval from the Japanese Financial Service Agency and started onboarding clients in March 2019. The exchange will support bitcoin and ethereum upon launch and interested users will be able to margin trade with litecoin, xrp and bitcoin cash. -FX STREET
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5. CoinBits launched a mobile app that allows users to passively invest in cryptocurrency with roundups and recurring purchases. -TECH CRUNCH
6. Fidelity has a room full of ASICS in an office to mine bitcoin. -NEWS BTC
7. Tether [USDT] exceeded bitcoin trading volume by more than $450 million over a 24-hour period from May 27 to May 28. -AMB CRYPTO
8. The Kin Foundation launched a $5 million fund called DefendCrypto to take on the SEC and its crypto regulation. -FORBES
9. The Central Bank of Iran is developing a financial blockchain solution named Borna integrated with IBM Hyperledger Fabric. -YAHOO
10. Shinhan, a South Korean Bank, will leverage blockchain technology to process required loan verification documents faster and at a lower cost than its current solution. -COIN DESK
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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