 QUOTE OF THE DAY  |
| “Anyone who has never made a mistake has never tried anything new.” - Albert Einstein |
Happy Wednesday! Ripple is having Bill Clinton speak at their Swell event this year. Vitalik's response? A one word tweet reading "wat". We are with you Vitalik, wat?
Cheers,
Blockchain Brew Team
| COIN | PRICE | 24H |
|
| BTC | $7,630.366702 | -2.74% |
|
| ETH | $426.080364 | -2.02% |
|
| XRP | $0.451406 | +4.27% |
|
| BCH | $766.850375 | -1.96% |
|
| EOS | $7.339344 | +0.89% |
|
*Information as of 9:30 AM EST
Binance Makes First Acquisition Buying Ethereum Wallet Service
TRUST WALLET
- Trust Wallet is a secure mobile Ethereum wallet that supports Ethereum and ERC-20, ERC-223 and ERC-721 tokens
- The wallet is not nearly the most popular Ethereum wallet service, it only has 50,000 downloads in the Google Play Store in comparison to imToken’s 5 million monthly active users
ACQUISITION
- Binance announced Tuesday that it has acquired Trust Wallet in the first acquisition in company history
- A mixture of cash, Binance stock, and Binance tokens was used to acquire Trust Wallet
- Trust Wallet will continue to operate independently and Binance will only provide some administrative and marketing assistance
Binance CEO Changpeng Zhao commented on the acquisition:
“The Trust Wallet team shares the same values as us and the products are very complementary. For users who like to withdraw funds into a wallet now we have a product they can use.”
DEX INTEGRATION
- This acquisition comes as Binance is developing its own decentralized exchange
- Trust Wallet will be a default wallet integrated into the Binance DEX whenever it comes to market
First Developer to Work Alongside Satoshi Returns to Crypto
MARTTI MALMI
- Martti Malmi was the first developer to work alongside Satoshi Nakamoto on Bitcoin
- When Malmi was working with Nakamoto, he was an amateur developer in university
- Malmi gained the trust of Nakamoto who allowed him admin access to bitcoin.org and attributed most of Bitcoin’s second code release to him
In 2011, Malmi decided to walk away from Bitcoin, explaining:
"I felt like bitcoin had already gone from zero to one, so to say. It was already up and running with a growing community and had lots of great developers working on it."
IDENTIFI
- In 2014, Malmi started Identifi, a decentralized indexing architecture
- He was set on disrupting big tech companies like Google, Facebook, and eBay who are basically just centralized index lists of things
- Identifi was only a decentralized architecture and had no cryptocurrency incentivizing the platform
ERA
- Malmi is taking the next step with Identifi, launching a new company called ERA that has plans on launching a cryptocurrency called AXE
- ERA has a mission to decentralize the internet and will utilize Malmi’s Identifi architecture
- Identifi will be used as an extra layer of security to protect and verify users identities
Malmi preached the need for digital identity:
"I believe that decentralization of digital identity and other basic infrastructure of our society are the some of the most meaningful things a developer can work on these days."
REAL USE CASE
- Surprisingly, Malmi is not entirely sold on blockchain technology and said that it is often applied to cases where it has no beneficial use
- With this opinion, Malmi is set on doing a decentralized internet the right way and says that the AXE project is unique because of its ability to scale
Research Suggests 90% of Blockchain Projects by U.S. Firms Will Be Abandoned
2018 PULLBACK
- Last year, people and businesses were predicting that in 2018, thousands of companies were going to test and adopt blockchain projects
- However, according to Forrester Research, about 90% of the blockchain projects started by U.S. firms will "never become part of a company’s operations"
- In addition, Forrester Research notes that some select companies who have invested and implemented blockchain technology are now drifting back to reality after the hype
REASONS FOR PULLBACK
- For most of the abandoned projects, they just never found a use case that would work better with a blockchain
- In addition, many did not realize that most blockchains still cannot handle massive amounts of transactions at the same time and this is worrisome to companies who need infrastructure with this ability
- Lastly, many blockchain vendors don't offer compatible software and thus, businesses feel tied to one vendor
In 2017, Forrester Research wrote another report titled "Predictions 2018: The Blockchain Revolution Will Have To Wait A Little Longer" and left us with a hopeful conclusion:
“Those who failed to translate the headlines into reality will write off their investments and give up, while others that have a deep understanding of the technology and its transformational potential in the long run will continue to forge ahead.”
U.S. Treasury Department Report Explores Cryptocurrencies and Blockchain Technology
REPORTING THE BAD
- To start, the report published Tuesday included some negative outlooks on cryptocurrencies and blockchain technology
- First, the report explained that cryptocurrencies carry risks and that regulators need to play a role to protect investors and to clampdown on illicit uses
- As for blockchain technology, the report stated that the benefits are "highly uncertain" as most of the technology being developed is still far from a finished product
REPORTING THE GOOD
- Though the report highlighted the risks and problems associated with cryptocurrencies right now, they did note that the new asset class "has the potential to improve the efficiency and inclusiveness of the financial system"
- As for blockchain technology, the report stated that new blockchain-based systems "could potentially help reduce fees, processing times, and operational risk for market participants" in the commodities market
To end on a high note, the report encouraged open communication between regulators and innovators:
"[The] Treasury encourages financial regulators to pursue robust engagement efforts with industry and establish clear points of contact for outreach to enable the symbiotic relationship necessary to maintaining U.S. global competitiveness."
- Wikipedia Has 'Zero Interest' in an ICO, Says Jimmy Wales
- Why I Left a World-Class Hedge Fund for Crypto Investing
- Ripple Partners With Madonna to Fundraise for Orphans in Malawi
Ethereum Classic (ETC)
Sidechains support in Emerald Project & Emerald SDK First Release
Cardano (ADA)
IELE VM, a register-based machine inspired by LLVM, will be released on testnet between June and July.
IOTA (MIOTA)
"On Expo Day taking place in July 2018 the partners and network of STARTUP AUTOBAHN will hear about many more joint projects "
Pundi X (NPXS)
"All the Pundi X token holders are eligible for this giveaway mechanism till January 2021. The unlock token happens every month."
Bitcoin Diamond (BCD)
Bitcoin Diamond version of Lightning Network is expected to be deployed on July 31st, after complete assessment by developers and testers.
Today in Crypto is powered by coinmarketcal.com
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