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Showing posts from November, 2019

Twitter CEO Jack Dorsey Predicts — Africa ‘Will Define’ the Future of Bitcoin

Bitcoin's ( BTC ) future most likely be “defined” by  Africa , the known crypto enthusiast made this prediction after completing a tour of the continent.  In a  tweet  on Nov. 27, Twitter and Square CEO  Jack Dorsey  said that he would return to Africa in 2020 after spending time traveling in Nigeria and Ghana this month.  Dorsey highlights Africa’s Bitcoin potential “Africa will define the future (especially the bitcoin one!),” he commented, revealing he planned to spend up to six months on the continent next year. During his stint in Nigeria, Dorsey  attended  a Bitcoin meetup, continuing his personal advocacy of the cryptocurrency.  The tech mogul has  become famous  for his Bitcoin support, having pledged to integrate its functionality into both Twitter and Square. He has also publicly endorsed the  Lightning Network  as a payment solution, something which allows Bitcoin users to send funds instantly for next to no fee. GOVERNMENT SLOW TO RESPOND Dors

Grayscale Files Form to Become First Bitcoin Fund to Report to SEC

Publicly traded Bitcoin ( BTC ) fund Grayscale Bitcoin Trust (GBTC) filed Form 10 with the United States Securities and Exchange Commission (SEC) to become the first crypto fund to report to regulator. Grayscale announced in a blog post  published  on Nov. 19 that, if the filing will be deemed effective by the SEC, several aspects of the fund’s operations could change.  In the event of approval The firm notes that, if the regulator deems the filing effective, the structure of the trust will remain the same and it will not be added to a national securities exchange. However, there will be some changes to Grayscale’s scope and operations. Should the SEC accept Grayscale’s filing, it would designate the fund as an SEC reporting company and obligate it to register its shares under the Exchange Act. Furthermore, as many institutions block investors from considering trusts based on SEC-approval, Grayscale’s eligible investor audience could widen. The SEC’s auditing standards wou

Nigeria Based Fintech OPay Seals $120M Investment to Grow Across Africa

The Lagos-headquartered fintech Opay has sealed a $120 million in a series B financing round from a host of high-profile Chinese investors. The payment gate way startup founded in 2018 by the popular web browser developer  Opera , OPay which focuses on developing digital payments solutions to promote financial inclusion had previously raised $50 million in June of this year, according to what Opera’s spokesperson told Cointelegraph.  OPAY TO EXTEND SOLUTIONS ACROSS AFRICA According to a  report  from TechCrunch, OPay reportedly intends to use the new Series B $120 million round to scale and extend its digital payments solution beyond Nigeria to Kenya, Ghana and South Africa.  The round reportedly included big-name venture capital investors Sequoia China and Softbank Asia, IDG Capital, alongside Meituan-Dianping, GaoRong, Source Code Capital, BAI, Redpoint and GSR Ventures. Norway-based, Chinese-majority owned software developer Opera is both highly active in the cr

American Entrepreneur Joseph Lubin Says: Ether and BTC Didn’t Have To Face Regulations Unlike New Projects

Ethereum  (Eth) and Bitcoin ( BTC ) did not have to comply with regulations, admitted Ethereum co-founder Joseph Lubin in an interview with industry news outlet Forkast  published  on Nov. 18. During the interview — which took place at the Hong Kong FinTech Week — Lubin noted that new projects need to comply with regulations, and explained the impact of the application of security law to the cryptocurrency space. THERE ARE NO SUCH SECURITY TOKEN? Lubin said that — to attract investors — any project has to promise that its token will increase in price. Furthermore, given that the appreciation is usually obtained through the work of developers, by definition, an asset that is being sold is a security. Because of this: “And so securities law is then implicated and now you can’t sell a utility token as it’s not a utility token, it’s a tokenized security. You can’t sell it broadly and equitably. ” FIRST MOVERS ADVANTAGE -ETHEREUM Overall, Lubin highlighted Ethereu

The President Of Venezuela Says The Country Is Going to Pay Retirees and Pensioners Christmas Bonus in Petro

  The  President  of  Venezuelan Nicholas Maduro announced that the Christmas bonus of the country’s retirees and pensioners will be paid to them in the national cryptocurrency PETRO. The Twitter profile of local news outlet Venepress  reported  on Maduro’s remarks on Nov. 17. This particular instance is not the first time that Venezuela pushes Petro into the wallets of pensioners so far. As Cointelegraph  reported  in December last year, Venezuela back then has automatically converted pensioners’ bonuses for the year into Petro. PETRO THE OFFICIAL DIGITAL CURRENCY FOR THE NATION? image credit: coindesk The crypto asset petro was first  launched  for a pre-sale in February 2018 and it raised concerns among foreign observers and crypto experts as well as enthusiast from the start. In August last year, Petro  was  already scornfully denounced as not a transparent “stunt” backed by a centralized and debt-saddled entity. which is not the concept of all digital currency

The Us Presidential Candidate Andrew Yang Says He Will Be Regulating The Cryptocurrency Industry In 2020

The advancement of technology in America has driven the advancement of humanity nationally and globally. But technology has also outpaced our government’s understanding of it, and regulations are falling short of protecting us from Big Tech companies that are prioritizing profits over our well-being. Today, we live in a hyper-connected environment, led by these tech companies, that has impacted our culture, lifestyles, families, and politics. The culture of innovation and the quality of human capital in America has fostered the growth of this industry over the past couple of decades to create trillion-dollar tech companies, in a framework of self-regulation. But the benefits these services have given us have begun to clash with the well-being of society.  Big Tech companies are the winners of the 21st century economy. They’ve amassed too much power, largely profiting from our personal data, and unaccountable responsibility—we have reached a point where the government needs t

Ether (ETH) Looks to Break Nearly 2-Year Bear Market Against Bitcoin

This past week, Bitcoin ( BTC ) price had many investors biting their nails as the top crypto asset turned bearish and is currently fighting to stay above crucial support at $8,300.  Meanwhile, altcoin investors are growing increasingly bullish sentiment wise and a number of lesser-known altcoins  rallied  impressively throughout the week. Ether price ( ETH ) is also heating up and the ETH/BTC pair is continuing to flash bullish signals.  The Nov. 15 drop from $186.59 brought Ether price below the ascending trendline and below the $177.57 area where the altcoin has bounced on 3 previous occasions. Ether price eventually found support at $176.79 and has since reversed course and begun to recover lost territory.

Blockchain Firm Partners With Cannabis Data App to Create Research Project

A blockchain-based data marketplace, Measure Protocol, and a cannabis-oriented survey rewards app, Broccoli, will jointly establish a research community for  cannabis  users. According to a Nov. 12  press release , the companies will use the new community to survey consumers, collect data and make reports dedicated to cannabis use and the industry. In doing so, the parties intend to discuss the benefits of cannabis, debunk or prove myths surrounding it, and make the collected information available to the general public. Phillip Olla, co-CEO of Audacia Bioscience, the company that stands behind Broccoli, said that blockchain technology will enable the firms to collect data about cannabis use in a transparent and credible manner, which will help bring cannabis into the mainstream and explore every aspect there is. THE BLOCKCHAIN IMPLEMENTATION IN THE CANNABIS INDUSTRY Other cannabis industry stakeholders have been applying blockchain to other aspects of their business.

Coinbase Card Adds XRP And Four New Cryptocurrencies

Coinbase Card adds XRP and 4 other new cryptocurrencies launches in 10 new countries. The Coinbase Visa debit card lets users spend crypto directly from their accounts and or wallets irrespective of their location as long as they are in possesion of the card. Coinbase has grown since its open to operations to have tens of thousands of users and supports the card in a total of 29 countries. Coinbase Card , the cryptocurrency exchange's Visa debit card that lets users spend crypto directly from their accounts/ crpto wallets, is expanding.  Coinbase  added support for four more cryptocurrencies: BAT, REP, XLM, XRP  Ripple XRP  is a  real-time gross settlement  system, cryptocurrency to fiat  currency exchange  and  remittance  network created by  Ripple Labs Inc. , a US-based technology company. Released in 2012, Ripple is built upon a  distributed   open source   protocol , and supports tokens representing  fiat currency ,  cryptocurrency ,  commodities , or other

Indian Government Programs Add New Crypto Courses

The Indian government has added new educational courses teaching cryptocurrency and blockchain technology to the public and law enforcement officers. Amid regulatory uncertainty and banking restrictions, cryptocurrency and blockchain technology remain important topics of study in India. NEW COURSE ON CRYPTO AND BLOCKCHAIN A new course entitled “Introduction to Blockchain Technology and Applications” has been added to Swayam, a learning platform initiated by the Indian government’s Ministry of Human Resource Development. This eight–week, AICTE-approved course for undergraduates is scheduled to run from Feb. 24 to April 17, 2020, with the exam date set for April 25. The course is taught by professor Sandeep Shukla of the Indian Institute of Technology (ITT) Kanpur. Students will learn the basics of blockchain technology and cryptographic concepts, including hashing and public key cryptosystems. The course will also go over private vs. public blockchains and their use cases, t

Binance CEO: It’ll Be Hard for Nations to Outrun China on Blockchain

Changpeng Zhao, The founder and CEO of the second biggest crypto exchange Binance, says the Chinese President’s endorsement of blockchain technology will inevitably drive mass adoption of crypto in the continent and across the globe. In an  interview  with Bloomberg Markets Asia on Nov. 15, Zhao. better known by his industry moniker “CZ”  gave his perspective on the likely global impact of the recent intervention by President Xi Jinping. “WE ARE GOING TO SEE A RACE TO ADOPTION GLOBALLY” As reported, President Xi Jinping had  called  this October for China to accelerate its adoption of blockchain technologies to drive innovation and industrial transformation.  Reflecting on the likely consequences of this high-profile endorsement and explicit declaration of a pro-blockchain support strategy by the world’s second-largest economy China, CZ said: “It’s super positive. China’s very pro-technology, so China will invest very heavily in blockchain technology and on the educationa