Dec 27 blockchain & cryptocurrency news roundup

Dec 27 blockchain & cryptocurrency news roundup

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Here’s a quick blockchain technology and cryptocurrency news roundup to keep you in touch with the latest news from around the globe.

 

Cryptocurrency News

 

Remember Bitcoin? Some Investors Might Want to Forget

bitcoin investorsFor a few sweet months of 2018, all of Silicon Valley was wrapped up in frenzied easy money and a fantasy of remaking the world order with cryptocurrencies and a related technology called the blockchain. A flood of joy hit the Bay Area. The New York Times ran with the trend in an article with the headline “Everyone Is Getting Hilariously Rich and You’re Not.” It was temporarily true. Read more…

 

Bitcoin (BTC) Wasn’t in Existence During the 2008 Global Financial Crisis

2019 bitcoin forecastThe top digital asset by market cap, Bitcoin (BTC), has been preparing for more than a decade now for the next market shutdown as a non-political option to the fiat printing pyramid. Critics and experts believe it is time. Bitcoin (BTC) was actually forged following the last financial crisis of 2008 designed in a way that it would thrive in financial distress. Read more…

 

Newly Minted Billionaire Coinbase CEO Is Already Tired of His Wealth

Coinbase CEO Brian ArmstrongLast week, Brian Armstrong, the 35-year-old co-founder and CEO of cryptocurrency trading app Coinbase, signed the Giving Pledge, started by Buffett and Gates in 2010, to give away the bulk of his net worth to philanthropic causes. Armstrong, a first-time entrepreneur, was the first crypto entrepreneur to sign the pledge, which has recruited more than 180 billionaire philanthropists, including Ray Dalio, Bill Ackman and Michael Bloomberg, among others. Read more…

 

Mt Gox CEO Mark Karpeles Claims Innocence as Trial Nears End

Mt Gox CEO Mark KarpelesIn his closing arguments in a Tokyo court, Mark Karpeles, former CEO of collapsed bitcoin exchange Mt. Gox, has restated his innocence in the events that saw the firm lose millions in customer funds and ultimately go bankrupt. He faces charges of embezzling approximately 340 million yen (over $3 million) from the exchange and fraudulently manipulating Mt. Gox data. On Thursday, Karpeles apologized for his failure to protect users’ cryptocurrency from hacking, but stressed he was not guilty on all charges presented in court, according to Japanese broadcaster NHK. Read more…

 

Wall Street Quietly Shelves Its Bitcoin Dreams

Bitcoin shelvedLimbo—that’s where to find Wall Street when it comes to cryptocurrencies. Squeamish from the start about pursuing profits in one of the darker corners of finance, established firms this year slowed their already halting efforts to make a business out of Bitcoin mania. While none has thrown in the towel, and some continue to develop a trading infrastructure, most flinched as the value of virtual coins collapsed. Read more… 

 

PwC’s ‘Crypto Leader’: Large Financial Institutions Will Accelerate Cryptocurrency Adoption

During an interview featured on Australia’s Bloomberg Television, Henri Arslanian, the “fintech and crypto leader” at PwC Asia, revealed that he thinks there’s a big year ahead for cryptocurrencies. Arslanian, a former director at UBS investment bank’s prime brokerage capital consulting services, remarked: “I think there is a lot of exciting things that the crypto ecosystem is looking forward [to] in 2019. One of them, I think, is really the entry of institutional players.” Read more…

 

Facebook will reportedly use cryptocurrency for transferring money through WhatsApp

Facebook coinThe social media giant is developing a way to use cryptocurrency to transfer money on WhatsApp messenger in India, Bloomberg reports. But it’s not using bitcoin. Instead, Facebook plans to use a “stablecoin,” a digital currency pegged to the U.S. dollar. Facebook’s hiring of former PayPal President David Marcus sparked rumors that the company would eventually dive into financial services. Read more…

 

Wall Street’s Biggest Bitcoin Forecaster Gives Up Forecasting Bitcoin

Tom Lee, Managing Partner FundstratFor a sense of how tough 2018 has been for Bitcoin forecasters, look no further than Tom Lee’s latest cryptocurrency research report. “We are tired of people asking us about target prices,” the co-founder of Fundstrat Global Advisors wrote in an emailed note to clients on Dec. 13. He continued: “Because of the inherent volatility in crypto, we will cease to provide any time frames for the realization of fair value.” Read more…

 

Blockchain Technology News

 

2019: The Year Blockchain Begins Finance’s Great Unbundling

blockchain timeIndustries across the board – from cable companies to grocery stores – are desperately trying to hold on to their most prized possession: the bundle. The conventional wisdom goes “if you control access and distribution then consumers have little choice to go anywhere else.” Unfortunately for sleepy incumbent bundlers, we’ve seen companies like Netflix and Amazon unbundle nearly every part of our lives. The same is now underway in crypto and finance, where some of the largest financial institutions are seeing their bundles face serious headwinds. Read more…

 

US Defense Dept. Wants to Use Blockchain to Improve Disaster Relief

blockchain technologyBlockchain could make its way into disaster relief operations from the United States Department of Defense, the organization revealed in a press release Dec 21. During a presentation hosted by the Defense Logistics Agency Troop Support’s Continuous Process Improvement (CPI) office in Philadelphia earlier this month, officials reviewed how blockchain technology could help emergencies responses. Efforts to provide aid following Hurricane Maria in Puerto Rico were used as a case study. Read more…

 

UN Partnership to Roll Out Blockchain-Based Telemedicine, Telepsychology in East Africa

UN blockchain projectThe United Nations Office on Drugs and Crime (UNODC) will reportedly partner with blockchain-based telemedicine and telepsychology firm doc.com to expand free basic healthcare services across Eastern Africa. News of the partnership was shared with Cointelegraph in an email on Dec. 26. Doc.com is a tech firm that offers blockchain-based 24/7 telemedicine and telepsychology platforms, allowing users to tokenize their personal data and sell it in return for access to the services. Read more…

 

Blockchains Have Feet of Clay

EBUF digital identityThe future of Bitcoin and other digital coins, as well as their expected value, seems to be based as much on reason as on faith, and there are strongly opposed views. In contrast, even among those who are skeptical about the different coins, many argue that the underlying blockchain technology will become pervasive and is sound. I’ll argue it is not. Read more…