Blockchain Market Update – December 14, 2018

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December 14, 2018 by
Blockchain Market Update – December 14, 2018

PwC, Bitfury: Big four consulting firm partners with mining and blockchain software company to create blockchain accelerator for businesses in Russia. The main goal of the new accelerator is to meet the current needs of PwC’s enterprise clients in Russia as well as to educate their employee’s knowledge of blockchain through a 2-year program starting Jan. 2019—Project Development

Basis: Stablecoin startup confirms it is shutting down and returning all of its remaining funds to investors due to unfavorable regulatory landscape. While they have considered alternative paths to launch and comply with regulations, none of the options seemed compelling enough for their users or investors, nor were they consistent enough with their vision to justify moving forward—Project Development

Boerse Stuttgart: Second-biggest stock exchange in Germany and ninth-largest in Europe said in official statement that it plans to introduce crypto trading platform in collaboration with solarisBank to establish an end-to-end infrastructure for cryptocurrencies by second quarter of 2019. Alexander Höptner, CEO of Boerse Stuttgart GmbH, stated: “With its combination of technology and banking expertise, solarisBank is a great partner for us to offer central services along the value chain for digital assets. solarisBank’s Blockchain Factory supports us in taking trading in crypto currencies and tokens to the next level and in setting new standards in transparency and reliability.”—Financial Institution

France: French lawmakers Jean-Michel Mis and Laure de La Raudière put forward proposal as part of parliamentary mission to explore implementation of blockchain technologies in France’s economy to recognize mining as electro-intensive activity, a status that would allow cryptocurrency miners to pay for electricity at preferential rates. This comes from lawmakers’ belief that mining should be distributed around the world, and that there should be mining farms in France—Mining

UAE Exchange: One of the largest remittance firms in the UAE is now working with Ripple to launch blockchain-based payments to Asia by the 1stquarter of 2019. The firm’s CEO Promoth Manghat said he expects to go live with support from one or two banks in Asia—Project Development

IOTA: Settled on plan to end centralization within its network by eliminating its coordinator node next year, which is responsible for ordering transactions to prevent attackers from dominating IOTA’s hash rate and performing a majority attack. While coordinator node does protect the network, it also represents a single point of failure for IOTA, one that decentralizing hopes to address—Project Development

TokenSoftSTO technology platform is launching regulated broker-dealer, TokenSoft Global Markets, as part of its push to offer greater services to token issuers and startups. The entity is registered through New York office of the Financial Industry Regulatory Authority, allowing them to advise token issuers across every step of an ICO—Other

Pantera Capital Management: Crypto hedge fund notes 25% of the blockchain and digital currency projects that its ICO fund invested in could be found in violation of U.S. securities laws and may have to refund money to their backers. One of the projects, Paragon Coin, has already announced it may have to pay back investors—Regulation

Revolut: Digital banking alternative that features in-app Bitcoin and cryptocurrency exchange has received European banking license as it seeks to expand its offerings and position itself as “Amazon of banking.” London-based company announced that it had received permission to begin offering European customers traditional banking services alongside its current suite of products—Project Development

Crypto Users: Cambridge Centre for Alternative Finance reports that number of verified users of cryptocurrencies almost doubled in the first three quarters of the year even as Bitcoin tumbled almost 80%. Users climbed from 18M to 35M this year, adding that most users are likely still speculators and long-term investors—Other

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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