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Report” Venezuela’s Maduro Wants OPEC to Launch a Cryptocurrency: What is Maduro planning? He wants to propose a global crypto that is backed by oil. Currently the PETRO token has had a lot of internal disagreement in Venezuela. Countries that have sanctioned Venezuela are also condemning the token. There is also reports of how the Venezuela government has possibly seized civilian’s crypto infrastructure in preparation of the PETRO.
Crypto Should Try Self-Regulation, CFTC Commissioner Says: As I reported last week, the tone of the Senate hearing was surprising and not hostile to crypto. Now we see that they would prefer crypto to promote self-regulation. Because a recent interview, I can see that is coming. Everyone from a more traditional finance background are used to regulation and will bring the minimum they think is necessary to protect themselves and their customers from risks.
New York Mandates Stronger Fraud Controls for Crypto Companies: If self-regulation doesn’t come expect more state based regulation like this. “the full range of fraud-related and similar risk areas,” including market manipulation, in addition to providing procedures and controls to safeguard consumers and investors from these risks. The guidance also mandates that virtual currency entities take steps to investigate fraud and wrongdoing, and upon the completion of a given investigation, to issue a statement summarizing the actions taken to resolve any fraud and wrongdoing. This will lead to many companies being walled out of reaching their target market.
Austrian Energy Group Eyes Blockchain With Vienna Test: Wien Energie is just one of the many energy providers testing out blockchain. They are looking at everything from electric car stations to land registry and power supplying. Their being forwarding thinking and don’t want to be left behind in the innovation blockchain is bringing
Ripple Enters Chinese Online Shopping Market: Chinese company LianLian will be partnering with Ripple. They will facilitate cross-border remittance, invoice payments and e-commerce payments. The company already processes billions of payments between consumers and merchants including some of the largest on the planet such as Ali Express, Amazon and eBay. Despite the PRC’s crackdown expect more Chinese companies to embrace blockchain projects since it benefits them to do so.
City of Taipei Confirms It’s Testing IOTA Tech for ID: Taipei is looking to become a “smart city” with these blockchain pilots. “We’ll be starting with related applications for Digital Citizen Card that can be used as a platform. We also seek to boost the authentication and integrity checks for municipality-to-municipality/institution-to-institution data exchange (such as medical records).” This is just one area doing concepts like this. Expect mass adoption of these solutions to be based on which every blockchain proves to be the most secure and human error resistant. I’m not too sure IOTA makes that cut.
Nvidia: Crypto Mining Sales Beat Q4 Expectations: Funny enough Nvidia is, at least publicly, not paying much mind to how much crypto influences their GPU sales. They seem to see the mass increase as temporary and not really focusing on it. True enough it may be a temporary thing as newer coins move away from mining. However, there will always be a set of established coins that are POW and require GPUs. People will always buy more GPUs to stay competitive.
Bitcoin Demand From Academia and College Students Rapidly Rises: Some of the top universities in America including Duke, Cornell and Massachusetts Institute of Technology are teaching blockchain classes. Being a university student who’s finishing up, there has been a rise in bitcoin/ blockchain talk at my uni from when I started in 2015. My only concern is that the may teach the blockchain without bitcoin/ crypto view. Which is detrimental. While they can technically exist separately downplaying the innovation almost solely created by crypto is a bit disgusting.
Shark Tank’s Robert Herjavec: ‘Cryptocurrency is the Future’: He sees it “chasing away the concept of fiat”. He sees it as a totally game changing thing that will affect the entire globe. His main concern however is volatility. If you are a normal listener of the interview sessions, you’ll know this topic pops up a lot. The consensus has been more adoption and more transparency by big actors will help reduce the worst of the volatility.
Why DavorCoin May Become the Next BitConnect: Another Bitconnect type coin is making its rounds. The crux of coins that are 100% garbage no dispute lies on the fact of its hefty referral commissions. Nothing is wrong with affiliate programs, but when they go beyond the person you directly refer you must start asking questions most of the time.
MyEtherWallet “Rebrand’ a Hoax: Taylor Censoring Reddit as Damage Control? : There has been some internal strive in the MEW/former MEW team. After digging a bit, this is probably due to a current court case the founders have against each other. The MyCrypto side was withholding the financial data from the other. Their counter claim is that they were the people actively developing MEW and because of the other founder’s absence they split off. I’d refrain from taking sides yet, but the hostile takeover the team attempted doesn’t inspire confidence.
CEO of Ripple, Brad Garlinghouse: Cryptocurrencies are Bad Currencies: I’m sure Ripple will get an even bigger hate because of this. There are plenty of people who do use crypto to buy and sell things even if it isn’t the primary driver right now. I’ve personally used it a lot back when it first got popular in 2013/2014. Nowadays with all the ICO and people treating coins as more as securities, it is easy for you to brush off the actual usefulness crypto has. While I agree that no coin is great as the title of currency, nothing is stopping them from at least partially fulfilling that role for niche uses.
Feds Seize $4.7 Million in Bitcoins in Fake ID Sting: Initially, I thought it would be one of the first results of Bitfury’s chain analysis. Instead it seems to just be tied to a normal investigation. The ID maker was busted due to the authorities following a “series of Redditors” Proving at least that criminals will still be caught regardless of what method they use if they are dumb enough to not monitor possible connections that can be made via social media accounts. That is one of the reasons Silk Road went down.
France & Germany ‘Threatened’ By Bitcoin, Want Global Crypto Crackdown: France and Germany’s call for strict regulation may hamper the EU’s crypto abilities. Financial ministers of both countries call for Bitcoin to be reigned in, but as we know it will be hard to stop crypto. Especially with Switzerland offering a pro-crypto scene in-case the EU does something crazy.