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FARGO COIN: U.S.-based financial giant Wells Fargo is developing a U.S. dollar-pegged stablecoin that will run on the firm’s first blockchain platform. Dubbed Wells Fargo Digital Cash, the tokenized dollar will be piloted for internal settlement of cross-border payments on Wells Fargo’s global network in near real time, it said Tuesday. Its international locations will also be able to move funds between each other using the stablecoin. Full story
LIVE AT LAST: Hedera Hashgraph has launched its long-awaited public network, backed by some of the world’s largest corporations and promising faster transactions and greater capacity to scale than any blockchain to date. Since December 2018, the network had been available in a testing environment to a small group of corporations and developers. As of 00:00 UTC Tuesday, anyone can open an account or build a decentralized app (dapp) on the hashgraph, which is similar to a blockchain but uses a different mechanism to achieve consensus about the state of the ledger. Full story
ICO DOWNTURN: New cryptocurrencies aren’t raising money like they once did, even during marathon sales. In the first half of 2018, the average initial coin offering (ICO) raised $25.5 million, based on data reported by PwC. The biggest of them all, the yearlong EOS offering, closed during that era and raised a whopping $4.1 billion. But a second ICO that aimed to make EOS more usable hasn’t drawn as much investor interest – raising just $2.8 million worth of cryptocurrency over the same length of time. Brady Dale looks at why. Full story
ETHER PAYMENTS: BitPay will soon support ethereum, the second-largest cryptocurrency by market capitalization, on its crypto payments platform. With BitPay, subscribing merchants will be able to accept payments in bitcoin, bitcoin cash and ether, along with a handful of stablecoins. Speaking on the addition, ethereum co-founder and creator Vitalik Buterin said: “This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real-world use cases for cryptocurrencies.” Full story
STILL ‘CRYPTO DAD’: Former Commodity Futures Trading Commission (CFTC) chairman J. Christopher Giancarlo has joined the advisory board to the Chamber of Digital Commerce, a trade group focused on blockchain and crypto policy in the U.S. Giancarlo helmed the CFTC for two years, following a three-year stint as a commissioner with the agency. Under his watch, the CFTC allowed the first bitcoin futures products to enter the space. In a statement Tuesday, he said “the Chamber is at the epicenter of this emerging field of technology that can only be described as a movement.” Full story |
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| RATE-CUT ACTION? Bitcoin's three-day consolidation ended with a downside break on Monday. Even so, it’s too early to rule out a bullish move, as key trendline support near $10,100 is still intact. Further, some observers are expecting the cryptocurrency to pick up a strong bid after a U.S. interest rate cut expected Wednesday, although historical data puts that possibility in doubt. Full story |
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| | TRANSFORMATIONAL TECH: Blockchain tech will be disrupting the majority of industries within five to 10 years, according to Gartner’s latest Hype Cycle for Blockchain Business report. “Even though they are still uncertain of the impact blockchain will have on their businesses, 60% of CIOs in the Gartner 2019 CIO Agenda Survey said that they expected some level of adoption of blockchain technologies in the next three years,” said David Furlonger, distinguished research vice-president at Gartner. The current digital infrastructure of organizations and paucity of clear blockchain guidance, however, are holding CIOs back from “getting full value with blockchain,” he said. |
WHO WON #CRYPTOTWITTER
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The hashgraph rises