Image Of The Week, 20-24 Of August: CNBC, Financial Review, Bloomberg And Other
We're presenting “image of the week”. Bitnewstoday.com has chosen only the most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes are below!
20 Of August
AUSSIES PAY IN CRYPTO (Financial Review)
Cointree and Gobbill partner to let Aussies pay their bills with cryptocurrency
Major telcos, utility, and insurers may not have jumped on the cryptocurrency bandwagon, but thanks to two local fintech startups that no longer matters, with cryptocurrency owners now able to pay any bill in crypto.
Gobbill co-founder Shendon Ewans admits that he was late to the cryptocurrency party, only beginning to dabble in it early last year, but said that's what made a partnership with Cointree attractive.
BITCONNEEEECT! (news.bitcoin)
India Bitconnect Head Arrested
The sad and at times infuriating case of Bitconnect continues to unravel around the world. This week, the accused mastermind of the group in Asia, Divyesh Darji, was arrested in connection with his role in the many millions of dollars investment scam.
Local media report Mr. Darji’s outfit was registered in the United Kingdom but essentially operated from the Burj Khalifa tower in Dubai. Perhaps it is a fitting center for a Bitconnect operation.
21 Of August
JUST IN TIME (Forbes)
Winklevoss-Backed Crypto Effort Picks Up Steam
New Winklevoss twin-backed group is looking to lay the groundwork for a self-regulatory body that would clean up the industry. The Virtual Commodities Association, first proposed in March 2018 and officially launched on Monday, is an industry working group comprised of cryptocurrency exchanges and custodians.
“We believe adding a layer of oversight on virtual commodity cash markets, in the form of self-regulation, is important for consumer protection and to ensure the integrity of these markets.”, - said Cameron Winklevoss.
CANADA KNOWS BLOCKCHAIN (News Wire)
Government of Canada continues expanding its Blockchain technology experiments
Bitaccess is excited to announce that subsequent to the successful launch of its experiment with the Ethereum Blockchain in January 2018, the Government of Canada is now exploring the use of additional blockchain technologies.
The National Research Council of Canada, through its Industrial Research Assistance Program (NRC IRAP) is using Bitaccess' latest product, the Catena Blockchain Suite to host its own blockchain explorer on the InterPlanetary File System (IPFS). Through Catena, NRC IRAP is conducting a live trial to explore the use of public blockchains in the transparent administration of government grants and contributions.
22 Of August
STRANGE WAYS OF CRYPTO (Business insider)
A cryptocurrency is making huge inroads in Venezuela as inflation runs wild
Venezuela is forecasted to see inflation of as much as 1,000,000% this year, with locals needing stacks and stacks of cash just to buy food. Last weekend Socialist President Nicolás Maduro announced a series of measures aimed at stabilizing the economy, including devaluing the bolívar by 95% and pegging it to the state-backed cryptocurrency, the petro.
However, the cryptocurrency called the dash, not the El Petro, is seeing a rise. There has been a surge in new merchant sign-ups and wallet downloads in Venezuela as hyperinflation in the country is running wild.
WAITING FOR A SIGN (Bloomberg)
Kenyan Banks Seek Regulatory Approval to Use Blockchain Tech
Kenyan banks are seeking regulatory approval to use distributed-ledger technology, also known as blockchain, to distribute payments and create credit-scoring models to rate potential borrowers.
While there may be benefits in using blockchain-based technology, there was a great risk should it fail or be misused by unscrupulous individuals, the central bank said in a report. “There is thus the need to ensure that robust controls are in place to ensure that the risks and opportunities associated with emerging technologies are balanced.”
23 Of August
BITTER REJECTION (CNBC)
SEC rejects bitcoin ETFs. Again
The latest rejection involves two ETFs filed by ProShares that would track bitcoin futures contracts, another from GraniteShares, and five leveraged and inverse ETFs from Direxion. This follows on the heels of the SEC's rejection of the Winklevloss ETF in July that would have traded physical bitcoin.
Similar to its rejection of the Winklevoss ETF, the SEC expressed concern about fraud and manipulation of bitcoin markets. It said that NYSE Arca, which filed the ProShares application, had not met its requirement "that a national securities exchange's rules be designed to prevent fraudulent and manipulative acts and practices. Among other things, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are ‘markets of significant size’."
A PLACE TO SELL FLAWLESS (Telegraph)
Japanese company sells “flawless” diamonds through blockchain
Tokyo-headquartered Pure Diamond Lab will use blockchain to track the production, refinement and appraisal of its lab-grown diamonds. Company is hoping to sell its man-made gems with the help of blockchain technology in an effort to crack the consumer market. "Flawless" lab-grown diamonds are up to 50pc cheaper and almost indistinguishable from the real thing.
24 Of August
GREAT SUCCESS! (CNBC)
“Overwhelming” response to world's first blockchain bond
The world's first public bond created and managed using only blockchain had support from seven investors, Commonwealth Bank of Australia the sole lead manager of the deal said on Friday, helping raise A$110 million ($80.48 million) for the World Bank.
Commonwealth Bank (CBA) executive general manager James Wall said that the deal, designed to test how the technology might improve decades-old bond sales practices, had exceeded expectations and interest had been "overwhelming."
FEAT OF HONESTY (The Next Web)
Mt. Gox preps to return $1B in stolen cryptocurrency to victims
The floodgates have opened for victims of the long-running Mt. Gox saga, which involves over a billion dollars in lost cryptocurrency. Almost five years later, claims can finally be made to have the stolen money returned.
A press release has been posted on the Mt. Gox website, along with an online tool for submitting claims. If online is not suitable, they can be made via post. It should be noted that this process is strictly for individuals – claims for corporate creditors will have to be filed at a later date.