Monday, June 18, 2018

Taking Steps Toward the Internet of Value

View this email in your browser

June 18th, 2018

Democratizing Global Payments

mit

FEATURES

xRapid Savings and Benefits

Ripple evaluates the world's remittance market and identifies how xRapid, if adopted on a global scale, could provide lasting impact for families around the world.

Read More
mit

VIEWS

Why Open Protocols Are the First Step in the Distributed Ledger Movement

In the same way IP became a universal format for sharing data across many different networks and beneath many different applications, the Interledger Protocol (ILP) will become the universal format for sharing payments across many different ledgers.

Read More

mit

NEWS

Brad Garlinghouse Explains the Difference Between Ripple and XRP

Ripple CEO Brad Garlinghouse spoke to CNBC to explain the difference between the digital asset and the company.

Read More
 

Ripple is at CBInsights Future of FinTech this week in New York City.

'Selling Crypto Now Is Like Selling Apple in 2001', Says eToro CEO

June 18, 2018 Read in Browser
Blockchain Brew
quote-left-filled.pngQUOTE OF THE DAY quote-right-filled.png
"If past history was all that is needed to play the game of money, the richest people would be librarians."
- Warren Buffett

Happy Monday! We hope the weekend was relaxing but it's time to get back on the grind now! Let's spread the crypto virus today, share the Blockchain Brew with 3 people who you think could benefit from crypto (a.k.a. everyone).

Cheers,
Blockchain Brew Team

MARKETS
COIN PRICE 24H

BTC $6,454.75 -1.15%

ETH $496.737 -0.91%

XRP $0.511833 -3.43%

BCH $836.142 -2.02%

EOS $10.2764 -2.71%

*Information as of 9:30 AM EST


OPINION

'Selling Crypto Now Is Like Selling Apple in 2001', Says eToro CEO

ETORO

  • Originally founded in 2006, eToro is a social trading and asset brokerage company with offices in Cyprus, Israel, and the United Kingdom
  • eToro offers trading of stocks, commodities, currencies, ETFs, indices, and cryptocurrencies, including: Bitcoin, Ethereum, and Litecoin, among others
  • The company was founded by brothers Yoni Assia and Ronen Assia along with David Ring, Yoni Assia currently serves as the company's CEO

DOTCOM COMPARISON

  • eToro CEO, Yoni Assia, recently spoke with Bloomberg making several comparisons between the cryptocurrency market and the dotcom bubble of the late 1990s and early 2000s, where tech companies were insanely over valued by investors and ended with many companies going bankrupt with few emerging out of the market correction to become some of the largest companies of this day
  • Assia estimates that 90% of today's crypto startups will "end as nothing" but some of the best projects will survive and prosper
  • He also gave his opinion that blockchain technologies will be as transformative as the internet was

The CEO gave examples of some of the most successful tech companies to come out of the dotcom bubble and compared them to where we are currently in the lifecycle of the crypto market:

"Tesla made 2,000%, Facebook made 1,000%, Google made 1,000%. This is the same thing but earlier in the cycle."

APPLE IN 2001

  • Assia made a direct comparison between cryptocurrencies and Apple, now the world's largest company by market capitalization, in 2001
  • 2001 turned out to be a revolutionary year for Apple with the introduction of the first iPod, at the time, Apple's stock traded at under $2 per share, the stock now trades at $189 per share

His Apple comparison is extremely bullish for cryptocurrencies, saying:

“My long-term view is selling crypto now is like selling Apple in 2001. You do it if you have to do it, you don’t do it if you don’t have to do it.”


MARKET

Former Goldman Sachs Trader: Diversified Crypto Portfolio Will Outperform Bitcoin

STRONG CORRELATION

  • Altcoins have shown strong correlation to Bitcoin's returns over the years even though some altcoins accomplish entirely different tasks
  • Some theorize this might be the case because most exchanges use Bitcoin as the base cryptocurrency to trade
  • It is also been observed over history that young markets are correlated before they mature and the individual assets decouple

MATTA'S STRATEGY

  • Christopher Matta, a former Goldman Sachs trader, told CNBC that diversifying in crypto markets will provide better returns for the amount of assumed risk
  • Matta explained that his firm, Crescent Crypto Asset Management, uses the 90-day average on the price of each coin to determine it's true value
  • If the coin cannot sustain that value, then Matta moves it out of the portfolio

Matta also told CNBC his other requirements for investments:

"We also have controls around liquidity measures. It has to meet certain thresholds and be available on multiple exchanges that are available here in the United States. And actually, custody is a big piece for us. We won’t hold a coin that you can’t hold in cold storage. We want to make sure people are able to store these in the safest way as you constantly hear about these exchange hacks. We don’t want our clients or the index to really be taking that risk."

TAKEAWAY

  • In traditional markets, diversifying is necessary to eliminate risk
  • However, some have argued that the crypto market is too closely correlated for diversifying to make sense, investors might as well pick a basket of coins that they see as winners
  • Eventually, as the crypto market matures, we will begin to see strong technology and innovative coins showing their true value

NEWS

EOS Back on Track After Rocky Launch

NETWORK PAUSE

  • According to EOS Network Monitor, the record-breaking $4 billion ICO is now running effectively, however, this comes after a pause on the network due to technical issues just after launch
  • After 5 hours, the bug was detected and fixed by developers and the network went live once again

CRITICS

  • Many critics stated their opinion about EOS after the network paused

In particular, Dogecoin creator Jackson Palmer tweeted his critical comments at EOS:

3b84dd59-4bfb-4e1a-a67a-5cb62472bbad.png

IT'S EARLY

  • Though the bug on the EOS network was found and fixed, it goes to show that blockchains are in the early stage still
  • We must remember that many of these blockchains will take years of coding to perfect them and at this point, many are less than a year old

TECH

Walmart Awarded Yet Another Blockchain Patent

MEDICAL RECORDS ON THE BLOCKCHAIN

  • Walmart has been awarded a patent, titled “Obtaining a Medical Record Stored on a Blockchain from a Wearable Device”
  • The patent envisions a blockchain system that would allow medical information to be retrieved by responders during an emergency situation via a wearable device

The official summary for the patent states:

"A method for obtaining a medical record of a patient that is unable to communicate, wherein the medical record of the patient is stored on a blockchain, is provided, including receiving an encrypted private key and a public key associated with the patient stored on a wearable device of the patient, in response to a scanning of the wearable device of the patient at a scene of an emergency, wherein the encrypted private key is decrypted by a biometric signature of the patient, obtaining the biometric signature of the patient by scanning a bodily feature of the patient, decrypting the encrypted private key using the biometric signature of the patient to determine a private key associated with the patient, and accessing the medical records of the patient, using a combination of the public key and the private key associated with the patient, to access a local storage medium of the wearable device."

ANOTHER ONE

  • Walmart has shown major interest into blockchain in the past, filing and being awarded several patents
  • Some blockchain patents awarded to Walmart already include:
    • A blockchain platform to manage energy demand on an electrical grid
    • Digital second hand marketplace on a blockchain
    • Using blockchain to assisted autonomous vehicles delivering packages to customers

TODAY IN CRYPTO

Today in Crypto is powered by coinmarketcal.com


MORE BREWING
  • Mining Consumes Half as Much Power as BECI Estimates – Coinshares
  • South Korea May Launch Dedicated Cryptocurrency Zone for Companies
  • Founder of BitGrail Francesco Firano says, “I can’t do anything”

COIN OF THE DAY
1839.png
MOAC (MOAC)
MOAC is to design a scalable and resilient Blockchain that supports transactions, data access, control flow in a layered structure. It creates the framework to allow users to execute Smart Contract in an efficient way. It also provides the architecture to spawn sub blockchains using underlying infrastructure quickly and easily. It is a Blockchain platform with necessary plumbing parts available to sub blockchains, providing solution for idea test, private chain deployment, complex task processing, decentralized applications etc
WEBSITE | TWITTER | REDDIT

MEME
meme.jpg
SUBSCRIBE | FEEDBACK | ADVERTISE
c7a28dd9-9ec5-4913-814b-8b83b0e2f5f0.pnge1c33f1a-0d4d-4829-bc78-1fd392608c05.png e1c33f1a-0d4d-4829-bc78-1fd392608c05.png
The above is not intended to be investment advice.
1317 8th Street SE, Minneapolis, MN 55414.
If you don't absolutely love us, drop us, click here.
Copyright © 2018 Blockchain Brew, All rights reserved.

Bank's big reveal

CoinDesk Daily is sponsored by 
June 18, 2018

"Risk and time are opposite sides of the same coin, for if there were no tomorrow there would be no risk." 
– Peter Bernstein

Got this from a friend? SUBSCRIBE HERE

THE FEATURE

Metropolitan Bank Is Handling Millions for Crypto Clients (And It Wants More)

To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank, they're "pioneers."

At least, that's how the New York financial institution's chief technology officer, Nick Rosenberg, describes them.

"We're certainly very interested in growing this vertical," Rosenberg told CoinDesk of the bank's crypto clientele. "We've learned that it's a serious industry. There are some very smart people involved. There are some very interesting ideas coming out that could really change the way people do business."

While most banks cling to the adage "blockchain not bitcoin," Metropolitan stands out simply by being one of the very few to enthusiastically court deposit business from crypto firms.

These clients include a few exchanges, as well as hedge funds and other crypto investors that bank at Metropolitan because it's easier to quickly move their money to those exchanges. (To be clear: the bank only handles fiat for customers and does not touch crypto itself.) So far, it's proven a lucrative niche.

Read more
Tweet
Share
⭐ CoinDesk Weekly Sponsor ⭐

 


Your Data. Your Life


In the current system, your personal data is sourced, held, used and swapped by third-party providers.

The Pillar Project is an ambitious project to return ownership of personal data to you. We do this through decentralized blockchain technology, starting with a token wallet.

Learn More

Wait, there's more:

Not Sold On Blockchains for Business? Just You Wait
The seemingly banal enterprise applications for blockchain we're seeing, like food traceability, are actually a big deal and worth celebrating.

A16z Leads Investors in $20 Million ICO for Tokenized Assets Platform
TrustToken, which aims to put tokenized assets on a blockchain, raised $20 million in a strategic token sale with help from Andreessen Horowitz.

Bitcoin Recovery Stalls Raising Risk of Price Drop
Bitcoin will likely drop below $6,000 this week, with bearish indicators still littering short- and long-term charts.

Factom Blockchain Project Wins Grant to Protect US Border Patrol Data
The Department of Homeland Security has awarded a grant to blockchain project Factom for live testing a platform for securing camera and sensor data.

Insurance Group B3i Endorses R3's Corda Blockchain Platform
Blockchain insurance consortium B3i announced Monday it would use R3's Corda platform to develop its products.

Halt the Internet? BIS Report Critiques Blockchain and DLT Claims
The Bank of International Settlements harshly reviewed the idea of cryptocurrencies, though it was more accepting of the idea of distributed ledgers.

Russia's Largest Banks Are Piloting Bitcoin and Crypto Portfolios
Two of Russia's largest banks are planning to launch a cryptocurrency portfolio product for their private banking clients, Kommersant reported.

Metropolitan Bank Is Handling Millions for Crypto Clients (And It Wants More)
To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank in New York, they're "pioneers."

Chip Maker Nvidia Adds Blockchain-AI Startup to Incubator
Nvidia is supporting a blockchain startup as part of its Inception Program, which seeks to support artificial intelligence development.

How to Explain Crypto Collectibles to Your Banker
When Wells Fargo thinks your video game company is a money services business, it's time to start educating people in other fields about blockchain.

In the Scramble to Fix Digital Identity, uPort Is a Project to Watch
Digital identity is scattered and insecure. ConsenSys' uPort project wants to rework the internet to make "self-sovereign identity" a reality.

EOS May Be Live But It's Still Got Crypto Critics Debating
The EOS blockchain went live this week, sparking debate and commentary from cryptocurrency's avid social media users.

Token Swaps: What Are They, How They Work & Why They're Happening Now
Token swaps are becoming common, but what do they mean for users and investors? CoinDesk explores the evolving art of blockchain migrations.

Bank of International Settlements to Publish New Crypto Research
The Bank of International Settlements intends to publish two cryptocurrency-focused chapters of its annual report this weekend.

Quantstamp Defends QSP, Says Dollars, Ether Accepted Out of 'Necessity'
A smart contract auditing startup is trying to quell a community uproar a week after token-holders began raising concerns about the project.

Proposed Ethereum Roadmap Would Activate Its Biggest Upgrades Together
A developer meeting Friday saw ethereum's developers discuss a proposal that would see two of its most anticipated upgrades update together.

Kurt Russell Is Going to Be in a Cryptocurrency Movie
One of America's most beloved Hollywood actors will be starring in a movie about cryptocurrencies. 

Sweden's Land Registry Demos Live Transaction on a Blockchain
Swedish Land Registry and Blockchain project have concluded their third phase of testing with a full demonstration.

SEC Has Removed 'Stumbling Block' for Ether Futures, Says Cboe
The doors may be open for Cboe to launch an ether futures product, following a recent comment from the SEC that the cryptocurrency is not a security.

What Crypto Thinks About the SEC Saying Ether Isn't a Security
CoinDesk compiles the best comments from crypto Twitter's reaction to the news ether, ethereum's cryptocurrency, might not be a security.
Go to CoinDesk


We're taking Consensus on the road     

Join us on September 18-20 at the Marina Bay Sands in Singapore for the first international Consensus event. 

We're excited to join TechXLR8 Asia and their multiple events, including IoT World Asia, 5G Asia, the AI Summit and more. 

Get your ticket to Consensus: Singapore or the full TechXLR8 experience and join us in September.

Register now. 

BTC: $6,430.93  -0.22% 
ETH: $497.32  -0.64%

8:35 AM EST - More price details
👋 JOBS IN BLOCKCHAIN 👋

Thinking of joining the blockchain sector? Already here, but looking for a change? Check out CoinDesk's careers board for opportunities in companies of all sizes, covering a range of areas and expertise. 
Copyright © 2018 CoinDesk, All rights reserved.
You're receiving this email because you subscribed for updates on our website.

Our mailing address is:
CoinDesk
636 Avenue of the Americas
New York City, NY 10011

Add us to your address book


Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list