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PAXOS TWO-FER: Paxos has received approval for two new crypto assets from the New York State Department of Financial Services, one of the market’s toughest regulators. One, issued by Paxos itself, is backed by gold, the other by U.S. dollars held in trust at the New York trust company. And the latter is issued by – wait for it – Binance, the Malta-based crypto exchange, which was once known for pushing the regulatory envelope but lately has played nice ahead of its U.S. affiliate’s launch. Full stories here and here.
CRYPTO RAP: “I myself hold bitcoin,” Reid Hoffman, co-founder of LinkedIn and a member of the PayPal Mafia, told CoinDesk as he described his reasons for releasing a new hip-hop video about central banks competing against cryptocurrency. “I am a pro-government and well-run society guy,” he said, and yet Hoffman also believes a small handful of global cryptocurrencies will arise, inevitably, because they will enable things the world wants and needs. “So that’s why I have this [rap], to elevate the discourse,” he told CoinDesk. Full story
THAR BE TREASURE: The buzzy scavenger hunt for $1 million worth of bitcoin, Satoshi’s Treasure, is coming this fall to nearly two-dozen college campuses worldwide. The game is operated by a small, mysterious company based on a tropical island (figuring out more about the game itself is part of the appeal) and is sponsored by Primitive Ventures and other prominent investors. The first team to compile 400 of the key puzzle fragments will be able to claim the prize. Now BlockVenture Coalition partners Tyler Wellener and Philip Forte are kicking off a North American campus tour with 20 universities, hosting educational meetups and mini hunts to help students join the game. Full story
FUNDING SHORTFALL: Open-source cryptocurrency projects require funding for developers to contribute. That’s a problematic proposition in the rollercoaster markets that make up open blockchains. Indeed, both Zcash and Litecoin are experiencing difficulties funding development and other expenses, and have pointed the finger at the market doldrums. Contributor Daniel Cawrey looks the issue. Full story
NEW NOTE: Samsung is releasing a new edition of its Galaxy Note 10 smartphone that will come with a pre-installed cryptocurrency wallet. According to a Wall Street Journal article on Thursday, the new product is a variant of the flagship Galaxy Note 10 but is marketed as the “KlaytnPhone,” named after a blockchain network developed by messaging giant Kakao. To be sold on Thursday only in South Korea, the new edition will come with blockchain apps alongside the crypto wallet. Buyers of will also obtain a certain amount of the Klaytn blockchain’s native cryptocurrency, klay. Full story
JACK’S PLAN: As cryptocurrency becomes more widely used, Square will transition to providing a broader range of “internet services” rather than just financial technology, co-founder Jack Dorsey predicted. Talking to The Australian Financial Review, Dorsey detailed how he believes the emerging digital asset class will shape his company’s development. He said: “In the long term [cryptocurrencies] will help us be more and more like an internet company where we can launch a product … and the whole world can use it, instead of having to go from market to market, to bank to bank to bank and from regulatory body to regulatory body.” Full story |
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DECISIONS, DECISIONS: Bitcoin is lacking a clear directional bias, having created a "spinning top candle" on Wednesday. A UTC close above the candle's high of $10,834 is needed to put the bulls in a more commanding position. Meanwhile, a drop below the candle's low of $10,378 will likely invite stronger selling pressure. Full story |
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| BLOCKCHAIN VOTING: Utah County officials demonstrated how the general public can audit votes cast through the Voatz voting app on Wednesday as part of the county’s test of the blockchain startup. Utah County auditor Amelia Gardner explained in a Facebook Live video that Voatz allows U.S. voters located overseas to cast a ballot without waiving their right to privacy by giving a user a unique ID number that is stored on the ledger. The ID does not contain any personally identifiable information, but still allows voters to ensure that the county office received their votes. |
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Blockchain > Brexit