$JPM Quorum 🏦 Joseph Lubin's ConsenSys / Brazil and Bahamas CBDC / Huawei's data-sharing 🇨🇳

Joseph Lubin's ConsenSys has acquired Quorum from J.P. Morgan (NYSE:JPM).

Inside.com Part of   Network August 25, 2020

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ConsenSys Founder Joseph Lubin Joseph Lubin's ConsenSys has acquired Quorum from J.P. Morgan (NYSE:JPM). J.P. Morgan reciprocated with a "strategic investment" into ConsenSys of an undisclosed amount. Quorum is a banking-focused variant of the Ethereum blockchain. Billionaire Joseph Lubin is one of the co-founders of Ethereum (ETH). Quorum will now become not only a blockchain but also a "brand" under which all enterprise Ethereum protocol technologies at ConsenSys will organize. J.P. Morgan's "strategic investment" amount is rumored to be $20m. Reuters

The Central Bank of Brazil continues its investigation of a Central Bank Digital Currency (CBDC). Banco Central do Brasil (BCB) established a 12-member intergovernmental study group this month. A final report is due in six months. Brazil's non-consumer, central bank instant payments system called Pix is already scheduled to commence operation by November. Coindesk

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China's Huawei is creating another data-sharing blockchain platform with Beijing's municipal government. The platform promises to "improve Beijing's response to virus outbreaks." Chinese residents will also be able to use the technology to appeal city rulings and address daily life problems. Healthcare information can be shared in situations similar to the COVID-19 outbreak. Bloomberg provides background and an overview of U.S-Huawei conflicts. Decrypt

The Bahamas has spent $7m developing and has issued $48,000 worth of its Central Bank Digital Currency (CBDC). China is helping. The island country's Sand Dollar cryptocurrency was issued into circulation within a set of Bahamian cays called the Exumas. The Bahamaian and Sand Dollars are both pegged 1:1 with USD. The Central Bank of the Bahamas signed a third-party contract authorizing NZIA Limited to develop its Sand Dollar. NZIA is a Chinese company from Shanghai. China singularly dominates cryptocurrency mining activity and continues building a network of bridges to access USD markets. One of China's most successful foreign currency markets with USD has been its closely supervised 国两制 ("one country, two systems") Hong Kong Dollar peg where 85,000 Americans live. The Block Crypto

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Quick Hits: Canada's Ontario Securities Commission has followed suit from the U.K. Financial Conduct Authority and prohibited Ontario residents from using BitMEX. Researchers traced over $1m worth of bitcoin connected to Ryuk ransomware transacted on Binance's exchange over the last three years. The wallet was still active as of this month. TechCrunch founder Michael Arrington leads a $4m seed round for the Chinese decentralized finance (DeFi) project Bella Protocol. Multicoin Capital (Kyle Samani, Tushar Jain) leads $1.8m financing for DeFi project Perpetual Protocol. Binance.Us launches in Florida, the third most populous state in the U.S. Coinbase publishes a detailed look into Zcash (ZEC), its privacy feature called zero-knowledge SNARKS, and the drawbacks of zero-knowledge cryptography. Coinbase does not process shielded Zcash withdrawals. LastBit has joined Visa's (NYSE:V) Fast Track program. The Securities and Futures Commission of Hong Kong has issued a provisional "approval-in-principle" to OSL, a member of the public company BC Technology Group Limited (0863.HK), to operate a digital currency exchange for security token offerings (STOs). Snappa, a small Canadian graphics design software firm, capitalized on the cash-reserve-for-bitcoin meme and announced it would swap 40% of an undisclosed amount of its cash reserves for bitcoin. The treatise-length "announcement" earned congratulations from Changpeng Zhao and various other crypto celebrities. Delight your remote team with curated gift boxes by SnackNation. Get $10 off per box until 8/27!* *This is sponsored content.

Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia.  Editor Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade.

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