Posts belonging to Category blockchain



Initial Coin Offerings are booming

1Q 2018 in Review

There’s a bear narrative in the air about ICOs and crypto currencies. It starts out by suggesting that last year was a bubble around Bitcoin, that many unscrupulous parties tried to jump on the bandwagon and take naive investors’ money. This spilled out in the fintech, crypto and public markets. See, for example, Long Island “Blockchain” being de-listed from NASDAQ. Or India cracking down on crypto currencies. Or the ban on Venezuelan crypto petro currency. And on top of this, regulators across the globe are recognizing Initial Coin Offerings for what they are — unregistered securities offerings from unlicensed institutions.

https://next.autonomous.com/

Facebook to Launch its Own Cryptocurrency

Massive ICO

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.
The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

https://www.financemagnates.com/

Bitcoin’s victory

Wall Street Will SoonTrade Virtual Currency

Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

The news of the virtual exchange, which has not been reported before, came after Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank.

The Greatest Bubble in History ?

Bank of America “Kills” Bitcoin for 278th Time

The Bitcoin Bubble is popping… this time for real… because Bank of America says so. For the 278th Time.

Bitcoin is not only the king of cryptos but also the king of bubbles. According to Bloomberg, a study by Bank of America Merrill Lynch on the behavior and evolution of Bitcoin’s prices places it as the most significant asset price bubble in history.

The study compares the price trends of bitcoin with other similar phenomena such as the U.S. stock market in 1929 crash in the Stock Markets, the Mississippi Company, and South Sea Company in the 18th century, the behavior of gold pricing, and the famous Dutch Tulip bubble.

http://www.cryptocurrencynews.com/

Britain unveils new fintech plans, including cryptocurrencies

G20:  no consensus for global regulation of cryptocurrencies

Britain announced a task force on Thursday to exploit the technology underpinning cryptoassets, such as bitcoin and other cryptocurrencies, as part of new plans to help fintech companies find more customers.

British finance minister Philip Hammond said he was committed to helping fintech grow and flourish by taking a series of domestic steps and forging links overseas.

“As part of that, a new task force will help the UK to manage the risks around cryptoassets, as well as harnessing the potential benefits of the underlying technology,” Hammond told a fintech conference hosted by the finance ministry.

Investors have flocked to cryptocurrencies like bitcoin despite wild price swings.

Regulators have warned that investors could lose all their money, but see promise in the blockchain technology that underpins cryptoassets.

Britain’s announcement comes after finance ministers from the Group of 20 richest economies (G20) were unable this week to find enough consensus for global regulation of cryptocurrencies.

http://www.reuters.com

Machines have replaced human stock market traders

Impact on the next financial crisis could be devastating

The February sell-off in stocks demonstrated the impact of automated trading on markets, according to Charles Himmelberg, Goldman Sachs’ cohead of global markets research.
“In this new market structure, machines have replaced humans, and speed has replaced capital,” Himmelberg said in a note.
This new ecosystem dominated by machines has dried up the sources of liquidity that would be needed in the next major wave of selling, he said.
http://www.businessinsider.com

Telegram wants its own blockchain platform and native cryptocurrency

Enormous Initial Coin Offering

Encrypted messaging startup Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond. According to multiple sources which have spoken to TechCrunch, the “Telegram Open Network” (TON) will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way.

The launch will be funded with an enormous Initial Coin Offering, with forthcoming private pre-sales ranging into the hundreds of millions, potentially making it one of the largest ICOs to date. Demand is driven by the fact that rather than the ICO coming from a fresh startup, Telegram is a well-established messaging platform used around the world.

Adopting a homegrown cryptocurrency could give Telegram’s payment system enormous independence from any government or bank — something Co-founder and CEO Pavel Durov is known to covet after investors took over his last company, Russian social network VK. Durov has not responded to TechCrunch’s several attempts to contact him regarding this story.

http://www.techcrunch.com/ … Tue., 16  January 2018

Eastman Kodak unveils cryptocurrency

Stock doubles

Shares of Eastman Kodak Co (KODK.N) more than doubled on Tuesday after the one-time leader in photography became the latest company to jump on the cryptocurrency bandwagon.

The storied Rochester, New York-based company said in a statement it is launching a cryptocurrency called “KODAKCoin” for photographers, part of “KODAKOne,” an image rights management platform in a licensing partnership with WENN Digital.

The platform uses blockchain technology, the backbone of bitcoin and other digital currencies that have surged in recent months and raised fears of a price bubble.

http://reuters.com/ … Wed., 10  January 2018

SEC warns bitcoin, cryptocurrency investors at risk

Investors should “exercise caution”

The U.S. Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors.

Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a statement. While regulators are trying to police these quickly growing markets, the SEC urged investors to be vigilant.

http://reuters.com/ … Fri., 05  January 2018

What is Blockchain?

Bitcoin and Blockchain explained in detail

This explainer will offer simple definitions and analogies for blockchain technology. It will also define Bitcoin, Ethereum, blockchain broadly, and initial coin offerings, and highlight promising use cases for the technology. (For a deep dive into how Ethereum works, you can read our What Is Ethereum explainer.)

Lastly, this report will make clear the distinctions between distributed ledger technology and blockchain, and highlight where these technologies have an application – and where they do not.

http://cbinsights.com/… Wed., 03  January 2018