Crypto Newsletter July 18, 2018
Augur is a decentralized prediction market that uses Ether and the Reputation token. After years of development, it launched on July 9th, 2018, and is fully functional.
Takeaway: Augur is now one of the most useful decentralized applications that incorporates a cryptocurrency. Augur is a great example of how cryptocurrencies can provide specific utility and BlockWolf believes that as more useful decentralized applications like Augur get released, the value of other cryptocurrencies will appreciate.
The SEC has opened the comments page for the CBOE ETF proposal.
Takeaway: Positive comments on the CBOE ETF proposal will lead to a greater likelihood of the SEC approving a cryptocurrency ETF. BlockWolf urges you to send email@example.com an email with the subject line “SR-CboeBZX-2018-040” stating why you think a cryptocurrency ETF is a good idea. It will only take two minutes and it will help proliferate cryptocurrencies.
Cohen Private Ventures, a big venture capital firm invested in Autonomous Partners, which has acquired cryptocurrencies and equity in blockchain-related companies.
Takeaway: The story demonstrates that big money is interested in blockchain and cryptocurrencies. It suggests that there is long term merit to the cryptocurrency industry.
Coinbase stated that they are exploring the addition of Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x to their exchange.
Takeaway: If Coinbase added more cryptocurrencies to exchange like the ones mentioned above, some American investors who are not that familiar with other cryptocurrencies besides Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, will be exposed to more cryptocurrencies, and would lead potential investors to learn about more unique cryptocurrency projects.
Because of a Nano donation, a Venezuelan was able to provide food for others. It appears that Nano was not used in the transaction for food, but it allowed the person to buy food.
Takeaway: The uplifting story is probably an eye opener for some Venezuelan’s who benefited from nano, a currency independent of governments and immune to hyperinflation. It may lead people to recognize the desirable characteristics of certain cryptocurrencies.
Russians indicted for US election hacks used Bitcoin to purchase servers, register domains, and make some other payments for perceived anonymity. They laundered the equivalent of $95,000 in cryptocurrencies.
Takeaway: This is not a good story for cryptocurrencies, and it shows how censorship resistant currency like Bitcoin may lead to some dishonorable actions. However, it is unclear if the use of Bitcoin was any more beneficial to the hackers than a different currency like the dollar. Unfortunately, there will be similar stories of malicious actors using cryptocurrencies in the future, but Blockwolf expects the positive stories of cryptocurrency usage to outweigh the negatives.
BlackRock has created a team to investigate cryptocurrencies and blockchain. BlockRock is the world’s biggest asset manager.
Takeaway: BlackRock’s interest in cryptocurrencies could lead to other big asset managers to investigate cryptocurrencies. A BlackRock investment in cryptocurrencies, would help legitimize the industry.
Coinbase was approved to acquire Keystone Capital Corp., which could help Coinbase offer security tokens.
Takeaway: Coinbase making the necessary actions to list more cryptocurrencies under a legal regulatory framework. It suggests that Coinbase will support trading for several other cryptocurrencies in the future.
Goldman Sachs is replacing their CEO in October 2018 and the new CEO, David Solomon seems to approve Bitcoin. He stated that “We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously.”
Takeaway: Support from Goldman Sachs would presumably inject large sums of money into Bitcoin and the cryptocurrency space, and it appears that it is at least a possibility.
Mastercard won a patent for speeding up cryptocurrency payments. They are specifically trying to create a way to link a series of profiles to identify a user’s fiat currency amount, a blockchain currency amount, an account identifier, and an address.
Takeaway: To have worldwide adoption, cryptocurrencies will need support from credit cards companies. Mastercard is working on cryptocurrency solutions, which suggests that they are open to implementing cryptocurrency related features in the future.