October 17

“The filing explained that Telegram ‘did not … offer any securities to the public‘ through an ICO, referencing the $1.7 billion it raised using a Simple Agreement for Future Tokens (SAFT) framework.

Telegram entered into private purchase agreements with a limited number of highly sophisticated purchasers.

As a result of the SEC’s action, however, Telegram is ready to hold off on launching the TON blockchain network and distributing tokens until all ‘regulatory issues are resolved,‘ the filing said.”

“Daily active users stand at over 2.8 million, [while] there are also over 290,000 Brave Verified Publishers. Brave browser has [also] become more popular than its rivals such as Firefox, Opera and Chrome in Japan.

Platform engagement is extremely high, with a click-through rate of 14% (the industry average is just 2%). More importantly, 12% of click-throughs result in page visits of 10 seconds or longer.”

Good Watch: Coverage and interviews from Devcon5

“A total of 9,661 BTC ($76.96 million) or a tiny 0.054% of today’s Bitcoin supply resides in three major sidechain projects.

Liquid, which launched in October 2018, currently includes a modest 89 BTC ($709,700). That figure is dwarfed by the largest sidechain, Binance Chain, which has 9,001 BTC ($71.74 million).

Even the Wrapped Bitcoin (WBTC) sidechain, which is in fact an Ethereum-based ERC-20 standard token, has 571 BTC ($4.55 million) — more than Liquid.”

See Also: The 18 Millionth Bitcoin To Be Mined this Friday, Only 3 Million Left

“Users can now use one ENS name for all of their cryptocurrency wallets, with all the benefits of decentralization, security, censorship-resistance, programability, and more.

We still plan on expanding the namespace available for use on ENS by integrating the DNS namespace. For example, the Ethereum Foundation owns the DNS name “ethereum.org”; with our system they could also have an ENS record for “ethereum.org”. In this way, the Ethereum Foundation could use “ethereum.org” both for their normal website (using DNS) and for receiving cryptocurrency payments (using ENS).”

See Also: Why ENS Doesn’t Create More TLDs: Responsible Citizenship in the Global Namespace

xCurrent, the service that B of A appears to have at least tested out, does not involve XRP, the cryptocurrency that Ripple periodically sells to fund operations and that powers its separate xRapid product.

Customers for the xCurrent payment system include American Express, Santander and PNC.”

“Each bar — being marketed as “The Other Bar” — contains a QR code within its wrapper that consumers can use to donate a blockchain token directly to farmers.

When scanned, the QR code also reveals how much the farmer was paid for the cocoa used to produce their bar, as well as indicating the GPS coordinates of the cacao tree from which the cocoa for their bar was harvested.

The whole idea is to use technology to influence consumer behavior and basically turn every product into a capitalist impact engine.

See Also: Broadway’s Biggest Ticket Operator to Use IBM Blockchain Against Scams

Living the Crypto Life

October 16

“A top Federal Reserve official said Wednesday that the U.S. central bank is ‘actively looking at and debating‘ issuance of a digital currency, amid growing worries among current and former regulators that the dollar might be at risk of losing its status as the world’s reserve currency.

We have not at the Fed decided to pursue or drive to develop a digital currency, but it’s something we’re actively looking at and debating.

His comments came after former Commodity Futures Trading Commission Chair J. Christopher Giancarlo wrote in an op-ed piece that called for the U.S. to create a digital currency.”

See Also: Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar

The Bank of Canada is considering launching a digital currency that would help it combat the “direct threat” of cryptocurrencies and collect more information on how people spend their money.

An internal Bank of Canada presentation says benefits of a digital currency include the sharing of personal information with police or tax authorities.

The currency would be widely available. It would initially coexist with coins and paper money, eventually replacing them completely.

The incentive to produce a ubiquitous international currency is huge.”

“Telegram has notified investors that the TON blockchain project will be launched later than planned, pushing the deadline from Oct. 30 to April 30, 2020.

We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.

The email says the deadline can be extended with the consent of investors holding a majority of the tokens bought in each of the two fundraising rounds.”

“Terry Gou, Taiwan’s richest man and the founder of manufacturing giant Foxconn, wants the island to roll out the red carpet for Facebook’s Libra cryptocurrency project.

I know [Facebook CEO Mark] Zuckerberg pretty well, and I hope we can bring Libra to Taiwan in the future. Mainland China has decided not to accept Libra and build its own digital currency. That creates a great opportunity for Taiwan as we can become a place where the two separate systems converge.”

See Also: RBC Analysts: Squashing Libra Could Boost China’s Digital Currency
See Also: Libra Plays Down Troubles, Anticipates 100 Members by Launch

The cooperation between the two firms will see Ripple’s over 200 existing clients reciprocally access Finastra’s extensive banking network, which includes 48 of the top 50 banks globally.

Finastra customers and existing RippleNet partners will be able to transact cross-border with end-to-end tracking and transparent oversight of fees, delivery time and status.” 

“The OpsChain Public Finance Manager (PFM) system enables transparent tracking of public budgets and expenditures viewable by all citizens. 

PFM will also reportedly enable public funds to be matched with outcomes, which in turn would provide insight into how effective different policies are. The platform can potentially be used to better inform future policy decisions. 

EY also reportedly already tested tracking public funds on a blockchain in multiple places, including the Canadian city of Toronto.”

“In what looks to be the first for a sovereign nation, Bermuda will be supporting USDC as an acceptable tax payment for some 60,000 residents.

Support for other ‘decentralized finance protocols and services‘ outside of USDC are also in the works as part of a broader initiative to integrate cryptocurrencies into official government operations, the press release stated.

Bermuda also announced Wednesday it would be collaborating with blockchain startup Shyft Network to launch a digital identity program benefiting individuals doing business in the country.”

“The algorithm, “Scalable Byzantine Reliable Broadcast,” was outlined in a paper first published this August and being presented today.

They have designed the algorithm in such a way as to replace quorums with stochastic samples. The paper goes on to outline a “Gossip-based algorithm” — a probabilistic broadcast to ensure the validity and totality of all messages broadcast.”

October 15

Twenty-one organizations have signed the Libra Association charter, days after a slew of high-profile defections from the cryptocurrency project started by Facebook.

The Libra Association also named its board of directors and formalized the consortium’s executive team following a meeting in Geneva, Switzerland.

Facebook still remains a key player in the project with Calibra CEO and former Facebook blockchain lead David Marcus taking a seat on the five-person board. Other board members include Katie Haun, a general partner with Andreessen Horowitz; Wences Cesares, CEO of Xapo; Patrick Ellis, general counsel at PayU; and Matthew Davie, chief strategy officer of Kiva.”

See Also: Bank of England Governor Carney Defends Facebook’s Libra Stablecoin

“Bitcoin futures contracts grew in popularity last quarter, with the number of open contracts up 61 percent from a year earlier because of growing demand from institutional investors.

Institutional flow remained strong, with 454 new accounts added, compared with 231 added in the third quarter of 2018.

Some 50 percent of the CME’s bitcoin-futures trading volume during the third quarter was outside the U.S., with 26 percent coming from the Asia Pacific region and 21 percent from Europe and the Middle East.”

See Also: Grayscale: Q3 Saw Record High Inflows, Growing Institutional Interest

Virtual assets will include cryptocurrency that allows users to transfer value, like Bitcoin. Ether, on the other hand, could be classified as a technical token, as the entire Ethereum network depends on it to function. The third category belongs to ICO tokens. They will be described as digital finance assets since they often include dividends and other benefits. 

By separating digital assets, the Russian legislative body will be able to apply different rules for each category, depending on their role in the market. Prime Minister Dmitry Medvedev has set the deadline for adopting the bill for 1 November.”

“As of Tuesday morning, it was live on eToro’s trading platform with a minimum $2,000 buy-in. It’s a partnership between eToro exchange and The TIE data analysis firm, who sources their tweets – about 850,000,000 daily.

With an AI system trawling through that massive trove, the network calibrates an optimal crypto portfolio based on the sentiments of those tweets.

At launch, the portfolio included five different crypto assets: 47.24% stake in DASH; 23.92% EOS; 21.86% XRP; 5.01% MIOTA; and 1.97% ETC. It rebalances every month.”

See Also: eToro Twitter Sentiment Index
See Also: Grayscale Wins Approval for First Public Digital Currency Index Fund
See Also: Nasdaq Lists AI-Powered Crypto Index for Top 100 Coins

Good interview re EY’s ‘Nightfall’

“The U.S. Securities and Exchange Commission (SEC) is again soliciting comments on a proposed exchange-traded fund (ETF) based around bitcoin and Treasury bonds.

Wilshire Phoenix and NYSE Arca filed an amendment to their ETF proposal earlier this month to address issuance and redemption for the securities and the listing/trading of the fund’s shares. Coinbase Custody will act as the custodian for the bitcoin held by the trust.”

“According to CoinShares, the network launches today with more than $20 million in gold held in a Swiss vault to back up its tokens. Each DGLD token is backed by 1/10th troy ounce. DGLD is built on blockchain firm CommerceBlock’s Ocean sidechain platform.

DGLD combines the stability of the world’s most enduring asset, gold, with the security of the world’s most resilient network, Bitcoin.

CoinShares says the product is available for both retail and institutional investors and will be available in over 200 countries on Blockchain’s cryptocurrency exchange, The PIT.”

“The transactions of over 700 cryptocurrencies are now searchable via the blockchain analytics offering from CipherTrace. That means more than 87 percent of the top 100 cryptocurrencies by volume can now be traced through the API service.

With some 522 million data attribution points, CipherTrace says its platform is uniquely situated to tackle real-world applications like terrorist financing.

Until now, large swaths of the cryptocurrency ecosystem have remained opaque to AML and CTF monitoring.”

“Ford outfitted 10 plug-in hybrid electric vehicles with cellular modems that enable geofencing. As the vehicles enter low-emission zones, they will automatically switch to electric-drive.

The metadata, such as when the vehicle enters or exits a zone as well as the miles driven, will be recorded to a blockchain.

The pilot addresses the issues municipal authorities face in administering and implementing low-emissions zones by transmitting data to officials in real-time.”

The main effect of the halving will be the wiping out of individual small miners, which now account for less than 20 percent of the market. The market is getting less volatile as the main players are becoming larger and larger.

The market is moving towards industrial mining. There are significantly less crypto enthusiasts on the market now.”

See Also: Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US

“OED notes that the word is the most recent addition to its dictionary.

A satoshi is the smallest monetary unit in the Bitcoin cryptocurrency, and is named after Satoshi Nakamoto, the—probably pseudonymous—developer(s) of Bitcoin.

Furthermore, in 2014 the Oxford Dictionary Online, the world’s arbiter on what is and isn’t English, accepted cryptocurrency as a word.”

October 14

“While the G20 leaders previously admitted crypto assets do not pose a threat to global financial stability, the introduction of global stablecoins could pose ‘a host of challenges‘ to the regulatory community.

The regulator presents a range of issues stemming from stablecoins, including data privacy and protection, AML/CFT and KYC compliance, tax evasion, fair competition and market integrity.

Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”

See Also: US Treasury Secretary: Regulatory Fears Forced Libra Exodus

After the transition to PoS — higher cost of a potential attack would make Ethereum the safer network of the two.

According to Buterin, a successful attack on the network will need multiple malicious blocks to be validated, which in turn would require an enormous Ether stake that could be slashed if someone were to successfully challenge the transaction. This makes a potential attack more expensive to carry out and is an improvement over PoW, stated Buterin.”

See Also: Ethereum BEAST to Transform Crypto Market

“Interoperability was the theme of the now concluded Devcon 5, where a number of smaller cryptocurrency projects displayed interest in accessing Ethereum’s DeFi ecosystem.

Connecting to other chains doesn’t seem to be an Ethereum developer’s priority, but other chains seem to want to connect to Ethereum.

The Zcash community will develop a wrapped ZEC token that can be used on the Ethereum blockchain network.

Ultimately, we want Zcash shielded [addresses] to be usable in Ethereum smart contracts.

Good read.

“Halo allows a user to prove that no one involved in the initial establishment of a large-scale zero-knowledge proof system has created a secret backdoor and that that secure state has existed over the course of ongoing updates and changes to the system.

[Additionally], in a dramatic compression in computational requirements, all that’s now needed to verify the veracity of the entire database’s current state is a single mathematical proof.

While there will still need to be nodes that read the full blockchain to identify transactions, the overall task of verifying the integrity of a blockchain could become a much less costly problem for the network as a whole. Ordinary users could achieve the ease-of-use and efficiency they need but do so with their own full verification nodes.

The ECC is planning to integrate Halo into the zcash blockchain as a Layer 1 scaling solution.”

“Coinbase opened its first office in Dublin, Ireland, in October 2018 to help expand its operations in Europe and as a contingency plan for when the U.K. leaves the EU.

The approval from the Central Bank of Ireland will allow us to secure passporting for our customers across the EU and EEA.

Coinbase, announced that the exchange had become ‘one of just a few companies,’ to have received an e-money license in Ireland.”

“The force majeure clause — which encompasses natural disasters, terrorist threats and the eruption of war — also includes legal or regulatory actions on the part of the authorities.

Following an abrupt move by the United States Securities and Exchange Commission (SEC) to declare that the $1.7 billion initial coin offering (ICO) for the Telegram Open Network (TON) was illegal, this could mean that Telegram will not be required to return money to its investors, should it choose to postpone the network’s launch.”

Telegram stated that they are continuing to assess the best ways to resolve the situation in the interests of relevant parties, including but not limited to evaluating whether to delay the launch date.

We were surprised and disappointed that the SEC chose to file the lawsuit under these circumstances, and we disagree with the SEC’s legal position.

After deeming Telegram’s initial coin offering (ICO) illegal, the SEC also filed a temporary restraining order, setting a court hearing in New York for Oct. 24.”

See Also: Telegram Channel TON Board ‘Takes a Break,’ Deletes Message History
See Also: SEC Draws on Investor Communications to Halt Telegram Token Launch

BMW, General Motors, Honda, Ford and Renault are working with the Mobility Open Blockchain Initiative (MOBI) on integrating the system to automatically make payments.

By assigning vehicles unique identities that store data such as ownership and histories on a blockchain, the industry initiative aims to remove the need for a human when settling tolls and parking fees.

Participating vehicles would eventually be able to automatically pay expenses once plugged into other networks such as charging or refueling stations. One such system involved compensating users in crypto for putting energy back into the power grid following an outage.”

Transitioning from ‘Single Collateral DAI’ to ‘Multi-Collateral DAI’

“Some exciting news: we may have found a home for Kik! We just signed an LOI [letter of intention] with a great company. They want to buy the app, continue growing it for our millions of users, and take the Kin integration to the next level.

“Dubbed CryptoMajor, the basket product includes bitcoin (BTC), XRP, litecoin (LTC), bitcoin cash (BCH) and ethereum (ETH), which are equally weighted to protect against market volatility. The five cryptos are already traded on its platform.

Trading a basket of cryptocurrencies means our users are freed from the hassle of constantly monitoring the markets.”

Other than the names of the product, very few things have changed and will not affect our customers.

Instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity.”

“If the system proves to be successful in Singapore, the ICC will bid for global adoption of IERS standards in the industry.

The International E-Registry of Ships (IERS) system is based on Perlin’s Wavelet, an open ledger for writing decentralized WebAssembly applications.”

October 11

The SEC announced late Friday that it filed for and received an emergency action and restraining order halting Telegram from selling or otherwise distributing its gram tokens within the U.S. The complaint alleges that Telegram did not register its offer or sale.

The SEC Division of Enforcement said in a statement that the emergency action is ‘intended to prevent Telegram from flooding the U.S. markets with digital tokens that we allege were unlawfully sold.’

Telegram seeks to obtain the benefits of a public offering without complying with the long-established disclosure responsibilities designed to protect the investing public.”

“The Financial Times reported Friday that eBay and Stripe dropped out of the Libra cryptocurrency project, citing political pressure.

We believe there are potential benefits in such initiatives and will continue to monitor the Libra effort. …We will follow its progress closely and remain open to working with the Libra Association at a later stage.

The Libra Association is scheduled to have its first official meeting next week, where the remaining 23 members – which include both Facebook and its subsidiary Calibra – are supposed to sign the group’s charter.”

“The sheet, prefaced by a warning that it’s only a draft and not an actual document for filing taxes, asks at the top:

At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

“Paul Brody explained that Nightfall is the first step in a greater process to get businesses creating agreements, settling invoices and making payments with each other using the public Ethereum blockchain.

The end game is enabling all the functionality of the Ethereum blockchain for enterprise users, with full privacy.

It’s an ambitious roadmap but one, he said, that could drive, ‘immense transformation to the world’s companies.’

We’re doing more than 10,000 transactions per day for Microsoft. We have seven major video games suppliers live and we’re expanding the footprint of that service.”

“In addition to ConsenSys Founder Joe Lubin launching the drive to build the Ethereum developer community into the millions, ConsenSys Grants announced its latest induction of projects into its program. A number of leading ConsenSys projects like MythX, Alethio, and Infura announced rollouts of freemium models to address ecosystem pain points ranging from smart contract security to data analysis to infrastructure.

Elsewhere, the Enterprise Ethereum Alliance, a member-led industry organization represented by hundreds of companies around the world, released two new specifications to progress interoperability for the largest organizations in the world utilizing the Ethereum network.”

See Also: 1 Million Developers
See Also: MetaMask Web3 Plugins
See Also: Augur: Version 2

“Unstoppable Domains – a firm backed by Draper Associates – said Friday that the new .crypto extension can be connected to users’ public cryptocurrency address, allowing third-parties to more easily send funds.

Sending money to a .crypto domain is a way simpler user experience.

The firm’s blockchain domains can also be used to provide “uncensorable” websites. Linking the domain to content on a decentralized storage network results in pages that “no one” can take down.”

“Australia’s only bullion mint is backing a new digital token aimed to allow investors to trade the precious metal in real time.

The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint. The digital certificates are 100% gold backed and guaranteed by the Government of Western Australia, which is the sole owner of the 120-year-old mint.

PMGT is digitized gold that allows users to conveniently acquire and have entitlement over government guaranteed physical gold stored at The Perth Mint in a trusted and cost-effective way.”

See Also: Is Bitcoin a Safe Haven Like Gold? These Four Charts Say Not Yet

“Coinbase Custody now allows Maker (MKR) holders to participate in the project’s governance without withdrawing their funds.

MKR holders will also soon review and vote on the terms of the DSR and the risk parameters for the two first tokens being evaluated by the interim risk team — BAT and ETH.”

Quantum Threat?

“The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday.

The statement “reminds” actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens. 

The agencies referred to the Bank Secrecy Act (BSA), which outlines how different financial services businesses should register with regulators.”

“The creator of an “open” alternative to Facebook’s Libra stablecoin initially misrepresented which organizations are involved in the project. Outside of Aggarwal, representatives from Chainlink, Web3 Foundation and Hashed have told CoinDesk their names were used without their permission on the OpenLibra slide deck presented at Devcon.

I wasn’t asked before my name was used on the slides. We’re not opposed to OpenLibra. We’re just not a part of it.

Geiger has not confirmed which of the 30 listed individuals and organizations announced on Wednesday were “potential partners” and which were actual confirmed partners of the OpenLibra project.”

“Nobody in the cryptocurrency space is thinking big enough.

Why are we not thinking about how to create dark finance tools we can leverage against government bonds? We can crash national economies.

It’s clearly not just a cultural change. It can also be a profound institutional change to our political order.’ But to do this, the industry needs to embrace its political side, according to Siri, and think more globally.

There needs to be a change on a big scale for cryptocurrency to realize its big potential. … We have to train not just hackers, but leaders.”

“China Construction Bank, one of the largest Chinese commercial banks, has expanded its trade finance blockchain platform with new abilities, including cross-chain and inter-bank transactions, as trading volume surpasses $53 billion.

The move is in line with China’s economic plan to promote trade amid the One Belt One Road Initiative and help grow the real economy in the country.

All four major state-owned commercial banks in China – CCB, Industrial and Commercial Bank of China, Bank of China, and Agricultural Bank of China –  have launched blockchain-based financial services initiatives in the past two years.”

See Also: Trade Finance Blockchain Marco Polo Pilots First Russia-Germany Transactions

October 10

“We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now. It is my view as chairman of the CFTC that ether is a commodity.

Tarbert continued to say the CFTC is working with the SEC on the two cryptocurrencies and have agreed both are not securities. Going forward, the CFTC may allow ether futures to trade on U.S. markets, he suggested.

“Today at Devcon, Plasma Group launched for the first time a working demonstration of Optimistic Rollup, an Ethereum scaling solution that runs autonomous smart contracts on layer 2. 

Optimistic Rollup on the OVM scales Ethereum more than enough for the needs of dapps today.

Crucially, these transactions are instant and don’t require gas. The Devcon demo of Optimistic Rollup allows for 250 TPS, and, when optimised, it will reach 2000 transactions per second.

CEO of Uniswap, told Decrypt that the achievement here is that Optimistic Rollup manages to accomplish all of this without using sidechains, which are more centralized.

The decentralization and security vulnerabilities in sidechains are well documented. So gaming companies might be okay with sidechains, but financial apps should use Optimistic Rollup.”

See Also: Try the UniPig Demo!

“The SEC announced Wednesday that the ETF proposal, filed by Bitwise Asset Management in conjunction with NYSE Arca, did not meet legal requirements to prevent market manipulation or other illicit activities. The SEC placed the burden on NYSE Arca, rather than Bitwise’s proposal itself.

With Wednesday’s rejection, the SEC only has one bitcoin ETF proposal currently sitting before it, filed by Wilshire Phoenix and NYSE Arca.”

Tencent-backed Pepo lets you get paid in crypto when people upvote your 30-second videos. The app is a kind of crossover between TikTok and Instagram, but enhanced by—and shockingly, not encumbered by—blockchain. 

You can send crypto to people you know on the app, you can use Pepo tokens to upvote other people’s videos, and they can upvote yours. And yet, you wouldn’t know there was a blockchain in sight.

“Data indicates that daily traded volumes of Bakkt’s Bitcoin monthly futures contracts soared from just 25 on Oct. 8 to 224 on Oct. 9.”

See Also: CME Group Expects New Bitcoin Options to See High Demand in Asia

“With the firm’s new product, clients can physically settle synthetic trades with bitcoin, which correspond to physical gold stored in vaults. Clients can [also] settle the trade with a number of cryptocurrencies.

These tokens will give them access to the underlying metal since they correspond to ownership of physical gold in vaults.”

“Projects include a forward-looking ethereum software client called Lighthouse, an oracle network for off-chain data called Tellor and a mobile decentralized app-builder called Alice.

The purpose of the program is to support under-resourced areas of development that are integral to the ethereum ecosystem but not necessarily profitable.

The ConsenSys grants program, which launched in February 2019, has received over 150 applications. Of those 150, 15 projects have been funded to the tune of $330,000 so far.”

“On Oct. 10, Alipay reiterated its anti-crypto stance in a Twitter thread, which warned that the company is closely monitoring over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations.

If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.

On Oct. 9, Binance confirmed that it has begun accepting fiat currencies through online payment service Alipay and mobile messaging and payment app WeChat.”

“With BitGo Custody, Bitstamp’s assets will be secured completely in cold storage in bank-grade vaults and protected by BitGo’s $100 million insurance policy.”

See Also: Coinbase Custody to Support Telegram’s GRM Token at Launch

“The average annual blockchain salary in Canada is more than $98,000, making blockchain careers among the highest-paying in the country.

Although the report claims that Canada is well-positioned to become a global leader in the blockchain industry, the ecosystem is facing major challenges that include funding, lack of a regulatory environment, insufficient public education and little to no cooperation from banks and auditing services.”

October 9th

MCD will introduce exciting new features to the Maker Protocol, including the highly anticipated Dai Savings Rate (DSR) and, of course, additional CDP collateral types. 

The DSR will not only allow users to earn on Dai held, but will also immediately create an entirely new dimension for innovative Maker protocol integration on the backend of DeFi dapps.

Christensen also announced a redesign of the Maker website, unveiling in the process the new Dai logo.

See Also: MakerDAO’s Multi-Collateral DAI Token Is Launching Nov. 18

“Announced at the ethereum developer conference, thirty different blockchain companies and nonprofit organizations plan to fork the Facebook-led Libra crypto project to build their own permissionless version, dubbed OpenLibra.

Anything running on Facebook’s Libra, you can just drag and drop to OpenLibra. Finances will work the same. The code will work the same. There is no token sale. No equity and no company behind this initiative.

OpenLibra’s core team includes representatives from blockchain projects including Cosmos, Web3 Foundation, [Ethereum Foundation], Democracy Earth and others, as well as non-profit organizations such as the Danish Red Cross.

So far, the OpenLibra project has published a permissionless version of the Libra virtual machine on GitHub. OpenLibra will run atop Tendermint blockchain software specifically designed for use on public blockchain platforms such as Cosmos.

In Libra we trust, in Facebook we don’t.”

See Also: OpenLibra

“Binance is now accepting fiat through Alipay and WeChat, opening up the exchange to peer-to-peer (P2P) crypto transactions from China.

One of the largest social media apps globally, WeChat currently has over 1.1 billion active users. Payment application Alipay has over 900 million users.”

“The guidance notice released Wednesday addresses: the tax liabilities created by cryptocurrency forks; the acceptable methods for valuing cryptocurrency received as income; and how to calculate taxable gains when selling cryptocurrencies.

New cryptocurrencies created from a fork of an existing blockchain should be treated as ‘an ordinary income equal to the fair market value of the new cryptocurrency when it is received.’ [Notably] ‘you would only be liable for new income based on the fair market value of the asset when received, and most forks don’t start out with a high valuation.’

In a disappointment to crypto users who like to spend their coins on everyday purchases like cups of coffee, the IRS specifically said it would not create an exemption for transactions below a certain threshold. Paying somebody for service will result in a capital gain or loss.”

Significantly, the BoE says it needs access to be able to monitor payment chain information as one of its conditions. Network participants, exchanges listing the Libra coin, and Libra-compatible wallets will also fall under scrutiny.

The resilience of the proposed Libra system would rely on the stability of not just the core elements of the Libra Association and Libra Reserve but also the associated critical activities conducted by other firms in the Libra ecosystem such as validators, exchanges or wallet providers.”

“Two U.S. Senators have publicly asked Visa, Stripe, and Mastercard to remove themselves from the Facebook-led cryptocurrency payment network, Libra.

In what could be viewed as threatening language, Schatz and Brown say participating firms such as Visa, Stripe, and Mastercard may see heightened regulatory scrutiny overall as a result of Libra membership.

If you take this on, you can expect a high level of scrutiny from regulators not only on Libra-related payment activities, but on all payment activities.”

See Also: Facebook CEO Mark Zuckerberg to Testify Before Congress Over Libra Crypto

“UNICEF will now be able to receive, hold and disburse donations of cryptocurrencies ether and bitcoin, through its newly-established UNICEF Cryptocurrency Fund. In a first for United Nations organizations, UNICEF will use cryptocurrencies to fund open source technology benefiting children and young people around the world. 

Contributions will be held in their cryptocurrency of contribution, and granted out in the same cryptocurrency. The first contributions to the UNICEF Cryptocurrency Fund will be received from the Ethereum Foundation.

This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer.”

“FAT Brands, the parent company of franchises such as Fatburger, Bonanza Steakhouse and Ponderosa Steakhouse, in cooperation with digital securitization platform Cadence, is tokenizing a bond offering on the ethereum blockchain.

Cadence will use a public version of the ethereum blockchain for the tokenization. FAT Brands aims to bring the security to the public by the end of 2019.

There will be security tokens issued on the ethereum blockchain that digitally represent ownership in the underlying Reg D exempt bonds.

Morningstar Credit Ratings likely will also engage in the ordeal to give the public a sense of the asset’s risk and profitability levels.”

“Libra Gets Forked, Mariano Conti Shows Why Crypto is Life-Changing, Danny Ryan on Eth2.”

“Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market.

With the new platform, Vanguard, which manages $5.2 trillion, aims to lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading for investors.”

“Though separate from U.S. regulators and from other global regulatory bodies, Canada’s government has been reticent to establish crypto regulations that might conflict with other countries’ laws. Instead, Gord described a regulatory gray zone that confounds his consulting group and the legal teams.

A vast majority – 96 percent – of Canadian businesses with 500 employees or less have at least considered implementing distributed ledger technology. Nearly 40 percent of respondents said that ‘legal and regulatory challenges’ were impeding their growth.”

“The startup revealed that it will incorporate the Universal Protocol Platform UPT utility token into its payment processing technology. By doing so, OmiseGo intends to let stakeholders to use UP stablecoins for financial services and tax collection, as well as collect transaction fees.

Also today, OmiseGo announced a partnership with Hydro Labs, an open-source blockchain project designed to address the unbanked issue. The cooperation between the companies is geared to streamline Hydro Pay Ethereum-based transactions, purportedly making them instant.”

“Bitcoin (BTC) jumped 5.1 percent on Wednesday to the highest price in three weeks, after the Federal Reserve (Fed) said it would print money to expand the size of bank reserves – seen as a move by the U.S. central bank that could spark inflation.

Powell said the Fed may have to keep pumping money into the financial markets by buying securities in the coming days in order to ensure the smooth functioning of short-term lending markets.

Some investors and analysts describe the Fed’s latest operation as round four of quantitative easing (QE).”

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