Blockchain Market Update – October 19, 2018

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October 19, 2018 by
Blockchain Market Update – October 19, 2018

Gates Foundation: Partnered with blockchain startup Coil to provide payment services for the unbanked. They will work together to implement the Interledger Protocol and explore ways to support “pro-poor payment systems.” This also appears to forecast Gates Foundation’s working with Coil alongside Ripple to further develop the Mojaloop platform, which uses Interledger technology and connects the different parties in the payment system to facilitate real-time transactions—Project Development

Goldman Sachs: Will use Bakkt’s technical solution for their custody service. Discouraging their customers from using traditional exchanges for legal reasons and advising them to use their OTC tools. Bakkt’s architecture will allow Goldman Sachs to advise customers on the use of a secure public platform with decades of experience in the financial markets. Additionally, along with Galaxy Digital, they have made investments in crypto custodian BitGo to secure their clients’ digital assets. Combined, both companies have invested $15M to BitGo’s Series B funding.—Project Development

JMP Securities, Pitchbook: According to their findings, merger and acquisition activity for crypto companies has more than doubled in the past year despite the 54% slump in BTC prices. They have also noted that the value of tokens associated with start-ups remains correlated to BTC instead of the value of the actual company, which creates an ideal opportunity for strategic acquirers—Other

U.S. SEC: Launching a new division, the Strategic Hub for Innovation and Financial Technology (FinHub) with the goal of making it simpler for fintech startups, including those launching ICOs, to navigate the legal implications of their products. FinHub will both publicize information produced by the SEC, as well as let innovators ask questions or clarify regulations—Regulation

Philippines: An exclusive economic zone in the north of the Philippines has given the green light to foreign companies, allowing them to operate a cryptocurrency exchange within the Cagayan Economic Zone Authority (CEZA). CEZA said in a statement, “A total of 19 companies have received provisional licenses, 17 were issued provisional principal licenses while two were issued provisional regular licenses.”—Regulation

Ethereum: The Constantinople upgrade, which failed to run correctly run on the Ropsten testnet and caused an accidental fork, has already been patched. The developers are waiting until the Ethereum Devcon4 Conference in Prague (Oct 30) is complete before they will try again—Project Development

Venezuela: Authorizes 6 exchanges to start marketing and selling Petro. The six exchanges are Cave Blockchain, Bancar, Cryptia, Amberes Coin, AFX Trade, and Criptolago. Some of them are already advertising the Petro on their websites—Regulation

Bittrex: According to their updates, will remove 5 coins from the BTC market: AUR, BYC, CRB, OMNI, and SPR—Trading

OKEx: To launch STO exchange in Malta, partnering with Malta Securities Exchange to build a joint venture and a security token exchange under the Malta’s regulatory framework—Project Development

“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.

Name Price
Bitcoin (BTC)
Ethereum (ETH)
Bitcoin Cash (BCH)
Litecoin (LTC)
Cardano (ADA)
Dash (DASH)
Monero (XMR)
Stellar (XLM)
Bitcoin Gold (BTG)
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