March 17

“Some users of the Starbucks mobile app are now being presented with “Bakkt Cash” as a payment option. Starbucks says the Bakkt Cash option is only in limited beta for now.

We anticipate that a range of cryptocurrencies will gain traction with customers and, through our work with Bakkt, we will be uniquely positioned to constantly consider and offer customers new and unique ways to pay seamlessly, at Starbucks.

Bakkt CEO Mike Blandina said the firm plans to launch the wallet ‘later this summer.’

See Also: Bakkt Raises $300M Series B From Microsoft, Pantera

A new version of Russia’s delayed bill on digital assets will include a ban on issuing and selling cryptocurrencies, according to the country’s central bank.

People will not be punished for owning crypto ‘if they made their deal in a jurisdiction that does not prohibit that,’ but institutions that make crypto trading and usage possible would be outlawed under the bill.

The bank took an active part in discussing the digital asset legislation, which has been waiting to be heard in Russia’s parliament since last spring.”

“Companies looking to raise funds via security token offerings (STOs) might soon get some relief from regulatory burdens in the U.S. 

If adopted, the modified rule would raise the cap on proceeds to $75 million from $50 million for security offerings sold under Regulation A+ and to $5 million from $1 million for Regulation CF (crowdfunding). 

These rules allow companies to raise funds from the public without having to register as a public company.

The SEC is providing regulatory relief when it comes to private placement and exemptions. It’s not a gigantic step, but it makes it easier to raise capital.”

See Also: Vertalo to Tokenize 22 Securities Worth $200M on Tezos Blockchain

“MakerDAO, leading player in the decentralized finance sector, is facing liquidity risk in an uncertain market. The MakerDAO community is considering adding support for USDC, the cryptocurrency associated with Circle, as an alternative collateral to help bear this risk.

The writeup also outlines a couple perceived negatives. According to the author, USDC support would reduce DAI’s decentralized “purity” and add to its regulatory risk in the United States.

A MakerDAO representative offered a counterpoint:

To say that DAI is not decentralized because of some of the assets that might back it would be erroneous.

See Also: Stablecoins Gain Market Share Amid Crypto Bloodbath


“Brave’s chief policy and industry relations officer, explained that Google is abusing its power by sharing user data collected by dozens of its distinct services, creating a “free for all” data warehouse. According to Ryan, this was a clear violation of the GDPR. 

Google collects personal data from integrations with websites, apps, and operating systems, for hundreds ill-defined processing purposes.”

The proceedings relate to an alleged agreement between the Z/Yen Group Limited and the Cardano Foundation dated July 2017. The Cardano Foundation voided/terminated the agreement for various reasons. The Cardano Foundation fully rejects the claims raised by the Z/Yen Group Limited. Due to the ongoing nature of this judiciary process, no further information will be given while proceedings are in progress.

Based on this information, one can only speculate that the case raises the issue of the ownership of intellectual property.

Kyber Tokenomics

March 16

“The Federal Reserve decided it had to act quickly and severely to cut rates on Sunday, slashing the target fed fund rates to between 0.0 and 0.25 percent. The full percentage point cut was four times more than its usual move. The last time rates were cut to this level was Dec. 2008, where it remained for seven years.

Not only did the Fed cut rates, it also decided to start buying $500 billion in U.S. Treasury bonds and $200 billion mortgage-backed securities (MBS). Effectively, this is “QE4,” the fourth major round of quantitative easing by the American central bank since the global financial crisis a little more than a decade ago. This will bring total assets on the Federal Reserves balance up to a record $5 trillion.

Over the past week, the Fed also announced it was going to do a total of $1.5 trillion in repurchase agreements (repos) lasting up to three months to make short-term money available to banks to meet reserve requirements.”

See Also: Fed Panics: Powell Cuts Rates To Zero, Announces $700BN QE5, Unveils Enhanced Global Swap Lines
See Also: US Banks Suspend Stock Buybacks

“The Fed may have a very big problem on its hands.

After firing the biggest emergency “shock and awe” bazooka in Fed history, one which was meant to restore not just partial but full normalcy to asset and funding markets, Emini futures are not only not higher, but tumbling by the -5% limit down at the start of trading; Dow futures down 1,000 and also limit down; the VIX surging 14%.

It now appears that the Fed’s emergency rate cut to 0% coupled with a $700BN QE is seen as note enough by a market which is now openly freaking out that the Fed is out of ammo.

In short, with the ES plunging limit down, this has been an absolutely catastrophic response to the Fed’s bazooka; expect negative interest rates across the curve momentarily.

Did equity margin calls spark the Bitcoin sell-off? If it’s true that institutional investors just withdrew from Bitcoin, then this bounce from $3,850 might signify that we have not only bottomed, but we might be about to decouple from any possible correlation with the stock market.

  1. True holders are unfazed
  2. Newcomers can now enter at lower prices
  3. Future selloffs won’t be as extreme”

See Also: BitMex Insurance Fund Tags ATH, Binance and Deribit Inject Millions
See Also: Bitcoin & Gold ‘Are Doing the Same Thing’ in Coronavirus Crisis: Pomp

EthDenver: State of the Ecosystem

See Also: EthParis: Eth2 Phase2 Update (Video)

Proceeds from the campaign will reportedly be used to set up a second-level advanced medical post for pre-triage of COVID-19 cases in the country. The remaining funds will be used to cover the fees of the medical staff.

We believe that an innovative fundraising tool like Bitcoin can help us find the necessary economic resources, that are very difficult to obtain in this historical moment.”

See Also: ETH-Based Developer Crowdfunding Platform Joins Fight Against Coronavirus

“The judge is considering whether Ripple may have violated California’s Unfair Competition Law (UCL) — which prohibits unlawful, unfair, or fraudulent business practices. 

The court asserted that transactions involving cryptocurrencies that are not deemed to be securities may be subject to UDAAP laws — paving the way for further putative action to be taken against other crypto projects that claim exemption from federal securities laws, particularly in California.

The application of UDAAP laws to crypto companies could result in projects coming under fire for failing to closely adhere to all customer agreements presented to users.

March 14

Recommended read.

“The Bitcoin price crashed down into the $3,000s because of the highly leveraged nature of the cryptocurrency market and the unwillingness of buyers to step in amid extreme volatility and uncertainty.

Thies noted that with the drop to $3,600, a new market cycle for Bitcoin could begin. Top traders have said in the last 24 hours that the overnight plunge of Bitcoin could kickstart a long accumulation phase.

If that happens, institutions could continue to accumulate BTC at lower prices if the appetite for risk-on assets improves over time, making the market less concentrated on whales or individuals that own a significant amount of BTC.

In the aftermath of the 50% drop in the price of Bitcoin, top industry executives that oversee the sector’s largest investment firms expressed their belief in the asset class and confidence in the long-term trend of the market.

Bitcoin is a battle tested asset which in time will prove its underlying strength as a genuine store of value.

I never once lost faith in what this incredible community has built. Stay strong. HODL on.”

See Also: Bitcoin Price Briefly Dips to 12-Month Low in Overnight Trading
See Also: Is It Over? (Video, TA)
See Also: Bitcoin Insurance Funds Take a Beating as Markets Rout
See Also: Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle East

This centralized hierarchical structure no longer represents the world we are living in, the world that is becoming flat and decentralized, he said. Hoskinson believes that people are fed up living in a society where old-world institutions control their financial accounts, data and identity. According to him, they are ready to take back control.

According to Hoskinson, the new decentralized order ushered by blockchain technology is meant to solve some of the most pressing issues of modernity such as data ownership, privacy, and identity; an order in which there will purportedly be no need for CEOs or presidents.

He believes it’s important to keep the big picture in mind and says what this industry is building will fundamentally change the way society operates.

What we are looking at right now is the unraveling of the economic order of the 20th century.

“The decentralized services that feed price information into these headless lending platforms – known as “oracles” in the industry – simply couldn’t keep up. Pricing oracles – typically Chainlink or Maker’s V2 oracle – were the main victims Thursday.

Other DeFi applications handled the surge of transactions without heavy-handed measures. Uniswap saw its all-time trade volume double to over $53 million. Kyber Network also set an all time high with some $30 million in 24-hour trade volume.

What does this all mean? DeFi didn’t die, but it didn’t thrive either.

If we want crypto to become a global asset class, we need better DeFi [infrastructure].”

See Also: DeFi’s Craziest Week Ever? (Video)

“For the first time in Maker’s history, the project will see a Debt Auction — where a systemwide failure in the value of collateralized loans to support circulating DAI triggers a programmatic printing of MKR tokens which are auctioned in exchange for Dai to balance outstanding debts. 

MakerDAO currently has $4 million worth of outstanding under-collateralized debt. The auction will result in MKR token holders being inflated.

The MakerDAO had a +500k$ surplus before the price drop, and now has a -4M$ surplus that needs to be filled. The protocol covers this issue, the solution being to trigger an MKR mint and auction.

Modifications intended to prevent 0 DAI bids from winning future liquidation auctions will be voted on by the community on March 13.” [This vote has passed and will be implemented March 14th.]

See Also: MakerDAO Vote

“Trading giant BitMEX is at the center of attention after unexpected downtime sparked rumors of foul play as Bitcoin (BTC) fell as low as $3,700.

Between 02:16 and 02:40 UTC 13 March 2020 we became aware of a hardware issue with our cloud service provider causing BitMEX requests to be delayed.

For Bankman-Fried, it was BitMEX’s unwillingness to address market conditions which hastened Bitcoin’s fall. After the platform went offline, Bitcoin recovered, he noted.”

2 Months Ago, Andreas Antonopoulos Explained Why Bitcoin Would Crash

2 Months Ago, Andreas Antonopoulos Explained Why Bitcoin Would Crash

“What most people don’t realize I think is that, in the beginning at least, crypto will crash hard.

And the reason it will crash hard is because a lot of the venture capital, corporate investments and private investment from individuals that is based on cheap money and disposable income and excess cash in portfolios etc., like in any other part of the economy, will dry up.

From that perspective, I think the first order effect that happens if we have a recession is crypto crashes because all the liquidity dries up which is a classic effect and symptom of a recession.

Thereafter, Bitcoin has the chance to emerge as a safe haven.”

“After sweeping the 5 state contests this Tuesday, Joe Biden owns a commanding lead for the nomination on prediction markets (87c/share to Bernie’s 6c/share).

Trump’s odds of winning the general election have been trending in the same downward direction as COVID-19 has driven the economy and markets. For the first time Joe Biden holds a 2c lead over Trump (48c/share vs 46/share).”

Update: MakerDAO ‘Black Thursday’ Response

Recent Market Activity and Next Steps

“Today’s activities tested the Maker Protocol and the people who use and support it. The community successfully navigated a brutal storm of external realities, which included rapid devaluation of collateral and a spike in gas prices.

The current state of the Maker Protocol is healthy. However, while there was no hack, no bug, and no Emergency Shutdown planned, modifications need to be made. Accordingly, the MakerDAO community will hold an executive vote on Friday, March 13, to adjust parameters to help ensure a similar situation doesn’t happen again.

Details of the proposed adjustments are below, with a focus on auction parameters and restoring the Dai peg closer to 1 USD. The Protocol will mint and sell MKR to re-collateralize the system. Dai stability Fee: 8% => 4%. [see article for full details]

The community and the Maker Foundation came together today to monitor, assess, and address the situation as it was unfolding. Thank you all for reaffirming your passion for Maker and the stability of the Protocol.”

March 13

“The New York Fed said Thursday it would initiate the injections as soon as Thursday afternoon, beginning with $500 billion of three-month repo loansOn Friday, the bank will offer additional repo operations with $500 billion of three-month loans and $500 billion of one-month loans. 

Three-month and one-month repo operations for $500 billion will be offered on a weekly basis for the remainder of the monthly schedule. The Desk will continue to offer at least $175 billion in daily overnight repo operations and at least $45 billion in two-week term repo operations twice per week over this period.”

See Also: Bazooka Fired: Fed Unleashes $1.5 Trillion Repo Bailout, Expands “Not QE” To QE5
See Also: Bazooka Backfires: Stocks Tumble, FRA/OIS Soars After Fed’s Massive Repo Operation Fails To Fix Liquidity Crisis

“Prices for the largest cryptocurrency by market value plunged 26 percent to $5,863 as of 13:54 UTC (9:54 a.m. Eastern time). The move wiped out bitcoin’s gains for the year, dropping prices to the lowest level since May 2019.

Bitcoin’s price decline led to the liquidation of more than $700 million of futures contracts and other leveraged positions on BitMEX.

You’re getting to a point where markets are pretty frantic across the board, and today is a move toward cash. Bitcoin and crypto in general still very much sit further out the risk curve in investors’ minds.”

See Also: Ether Suffers Record-Setting 33% Drop Amid Global Market Turmoil
See Also: Bitcoin And Bullion Blasted As Traders Sell Everything

“In response to “Black Thursday” losses, developers and MakerDAO Foundation members weighed the damage that the drop in Ether’s price had done to MakerDAO’s lending protocol. 

As the market for ETH drops, MakerDAO’s protocol automatically sells. The recent market saw losses too dramatic for the protocol’s auctions to keep up with.

The shutdown is currently a remote prospect, but may become the most rational decision if ETH falls to $80 or so: ‘If Ether price drops another 30, 40%, then we might be looking at that.'”

See Also: ‘Black Thursday’ Response Thread

The Largest Financial Event Of Our Lifetime Is Upon Us

See Also: How Low Could BTC Go (Video)

“France’s Financial Markets Authority (AMF) has proposed that all of Europe adopt a regulatory “sandbox” to support the emerging security token industry.

The “Digital Lab” would run for three years, exempting projects from financial regulations.”

See Also: Digital Pound Could Present ‘Challenges’ for UK, Says Mark Carney

“The “biohacking” effort by a group known as CoroHope is crowdsourcing bitcoin (BTC) donations to fund its work. The group claims it has a biologist on board with 10 years’ experience building similar vaccines for the FDA.

The group sees the FDA as a potential hindrance to finding a vaccine for the rapidly spreading coronavirus because the agency has a stringent approval process that, to the biohackers’ minds, doesn’t necessarily benefit the public. 

Frankly we’re not interested in waiting for regulations to try to do good work.

With initial funding, CoroHope’s first goal is to develop the plasmid DNA vaccine ‘to design and synthesize the plasmid, perform preliminary testing and send it out to interested labs.‘”

See Also: Mass Surveillance Threatens Personal Privacy Amid Coronavirus
See Also: CME Group Closes Its Trading Floor as a Coronavirus Precaution

“Blockchain Game Partners, for which Schiermeyer is the founder and CEO, has announced that it is developing a blockchain-based gaming platform dubbed the Gala Network

The platform seeks to cater to the innovation of developers, and will afford players full ownership over blockchain-based in-game items represented as non-fungible tokens. The items will be usable across multiple games built on the Gala Network. 

Just like networked games and social games, I believe that blockchain games are the next evolution in gaming.

See Also: Enjin Courts Blockchain Game Developers With Multiverse Program
See Also: MakerDAO Launches Bounty Program to Get a Foothold in Blockchain Gaming

“Dubbed the “Celo Alliance for Prosperity,” the project was unveiled on March 11, with key Libra backers Coinbase Ventures, Andreessen Horowitz, Anchorage Mercy Corps and Bison Trails Co. joining the ranks of its 50 founding members. 

Enabling users to interface with the network using a smartphone, the project envisions offering faster and more affordable remittances, providing payments and micro-lending services, and reducing operational complexities in humanitarian aid delivery.

“The number of Bitcoin addresses holding one or more bitcoins has been steadily growing and reached a new all-time high (ATH) of 795,630. Glassnode also reported that the number of non-zero Bitcoin addresses also reached an ATH of more than 29 million.

These numbers purportedly show the increasing interest in Bitcoin by retail investors.”

March 12

“Synthetix announced plans for trading in binary options in the third quarter of this year. For its second quarter, Synthetix is supporting new assets like “equities and exchange-traded funds.” The exchange is also planning to offer leveraged trading on tokens.

We expect to support 5x and 10x BTC tokens both long and short soon after we launch fiat leverage tokens. Following the rollout of BTC we will expand the offering to other large cap crypto tokens.”

See Also: After A High-Profile Hack, bZx Announces Its Way Forward

“A Russian government agency has requested contractor bids to find ways to block censorship-resistant internet technologies, like mesh networks.

The list of such technologies in the document includes mesh networks, internet of things (IoT) protocols and protocols allowing anonymous browsing, including Invisible Internet Project (I2P), The Onion Router (TOR), Freenet, Zeronet, anoNet – and one blockchain, the Telegram Open Network (TON).

Such technologies are “used to build anonymous Darknet networks,” according to the agency. Bitcoin (BTC) isn’t mentioned, nor any other cryptocurrencies.

“Bank of America said Wednesday in a report the Federal Reserve, led by Chair Jerome Powell, might move as soon as next week to announce monetary-stimulus measures similar to those used in the financial crisis over a decade ago. In a matter of months in 2008, from August to December, the Fed’s balance sheet doubled in size to more than $2 trillion.

Digital Assets Data’s Alfred drew a contrast between breadth of official responses in traditional markets and the absence of any changes in the computer-based protocol governing the decentralized blockchain network that bitcoin runs on.”

See Also: Blockchain Lender Reports 300% Surge as Fed Slashes Interest Rates

“In its 184-page action plan released March 2, U.K.’s post-Brexit trade broker said it will “seek to deliver” favorable digital trade terms for small to midsize businesses, including those in blockchain. 

An entire chapter of the negotiating objectives deal with “digital trade” including data protection, an open internet and cross-border data flows, among other issues.

The U.K. seeks to ‘future-proof the agreement in anticipation of rapid technological developments.‘”

Chinese regulators hope to leverage distributed technology to digitize financial data and information and share it instantly and securely. 

A Chongqing-based cross-border commerce firm had used the platform to complete a surgical mask-related transaction. 

Another local tech company successfully received $153 million in loans from China Construction Bank through the same platform during the epidemic.”

Alibaba has registered a blockchain-based system patent in Brazil.

Regarding the financial solution, the patent covers real estate services, credit card payment systems, invoice processing and the strengthening of security to process transactions.

Foreign currency transfer services; foreign currency exchange; currency trading; currency broker; financial transactions through blockchain.

The solution highlights within the patent’s filing that they will have a particular focus on the real estate market. The report does not specify whether the initiative will be implemented.”

“On March 10, computer researcher Daniel Gruss uploaded a video to YouTube describing how the proof-of-concept attack, dubbed a “Load Value Injection [LVI],” can be used to steal sensitive data from Intel SGXs — including encrypted keys for cryptocurrency exchanges and wallets.

The attack is significant as SGX processors are designed to provide secure storage within a computer’s memory, even when in the presence of a malicious operating system.”

“Chainlink has partnered with Hdac Technology, a blockchain startup founded by Dae Sun Chung, CEO of South Korea’s largest car manufacturer, Hyundai.

By partnering with Hdac, Chainlink intends to integrate its oracle middleware solution with Hdac’s decentralized applications to securely access off-chain data.”

March 11

“The partnership will see the firm join Wasserkraft Mittelrhein to facilitate trading, monitoring and data analysis of renewable energy produced by decentralized power plants using the Unibright Framework.

Unibright proposes a “smart grid” system, where disparate small electricity producers engage directly with energy consumers via blockchain technology.”

See Also: Securitize Launches Tokenized Platform to Revitalize Japan’s Rural Property Market

Erasure is a smart contract on Ethereum for people to share information and to express confidence about that information by putting money behind it. The startup has created Erasure Bay, a marketplace for information, launching today.

The internet has been amazing as a place to post and share information, but ensuring the veracity of that information has proven tricky. Users can either post requests for information (“I want to know who Satoshi really is”) or post information they have for sale (“I know who Satoshi really is.”).

Erasure Bay is a place to request information and to tell information, and to trust the person you are doing the business with.”

See Also: Erasure Bay

“Tether (USDT) is now available on Aave, a non-custodial lending platform. The top stablecoin by market capitalization appears to be signaling its move into Ethereum (ETH) decentralized finance (DeFi).

Lending stablecoins on Aave (and many other platforms) can be quite lucrative. As of press time, the Annual Percentage Yield (APY) — an interest figure that accounts for continuous reinvestment — on DAI amounts to 25% when using a “stable” rate. USDT’s rate amounts to about 4%.”

Trader Talk – Oil, Stocks, Bonds, Gold & Bitcoin

“Earlier today Brave announced a partnership with TAP Network which will allow its users to redeem their Basic Attention Tokens for “for real-world rewards” offered by 250,000 brands.

Brave users in the U.S. will be able to redeem their BATs for ‘gift cards from hundreds of top national brands.‘”

The firm will offer loans in U.S. dollar-denominated stablecoins against holdings of bitcoin (BTC) held in the Blockchain Wallet. Open to wallet holders worldwide, loans are available immediately after collateral is made available.”

Particularly given my prior finding that Dr. Wright has produced forged documents in this litigation, I decline to rely on this kind of document, which could easily have been generated by anyone with word processing software and a pen […] I give no weight to sworn statements of Dr. Wright that advance his interests.

The judge determined that ‘the record does not establish that an attorney-client relationship exists between Mr. Mayaka and Ms. Watts,’ also disregarding Wright’s “Mayaka Declaration” as it had not been adequately authenticated. Further, the judge found that the Trust document failed to identify Mayaka as counsel.”

YouTube has reportedly returned to blocking crypto videos. Ivan on Tech said he received a strike for his deleted video, while The Moon said YouTube threatened him with a strike after deleting his video. 

The crypto purge is STILL HAPPENING, & this is the second time I have to deal with this.”

March 10

“The top cryptocurrency fell by nearly 10 percent from $8,900 to $8,000 on Sunday to register its single-biggest daily decline since September 2019.

On Saturday, scammers in control of the remaining wallets of the China-based Ponzi scheme moved 13,000 BTC (worth around $101 million currently, but close to $120 million at the time) to so-called “mixers” and may have offloaded their holdings.

The sudden drop in prices seems to arise out of the selling of BTC by PlusToken.

People in control of the PlusToken wallets have been liquidating their stolen bitcoins since August and likely played a big role in pushing bitcoin down from $12,000 to $6,500 in the four months to November.”

See Also: Bitcoin Tested as a Safe Haven After Biggest Stock Crash Since 2009

“Gosar’s proposal divides digital assets into three categories: crypto-commodity, crypto-currency and crypto-security. Respectively, the three categories would be governed by the Commodity Futures Trading Commission (CFTC), the Secretary of the Treasury via the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (SEC).

Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies. The classification of “crypto-currency” reads “representations of United States currency or synthetic derivatives” — more reminiscent of stablecoins like Tether (USDT). 

The bill looks to provide not only clarity, but legitimacy to crypto assets in the United States.”

“DBRS Morningstar has for the first time rated securities issued on a blockchain. Morningstar reportedly said in its rating that using Ethereum would speed up access to data on the securities, as well as boost transparency.

For the blockchain side of the investment process, $40 million in $CDG, a stablecoin linked to the U.S. dollar, was held by the trustee, UMB Bank, while FAT Brands held other tokens representing two tranches of the debt security. A smart contract completed the settlement of the trade.

See Also: Paradigm Leads $12M Round for DeFi-Friendly Wallet Argent

“To some extent, this is about making blockchain nodes run on both IBM and Oracle’s clouds. But it also opens the door to connecting the consortia of firms clustered on the two platforms. The groundbreaking interoperability work is happening on blockchains built using Fabric.

We have done full testing with IBM and SAP. The three of us have basically done cross-network testing on Fabric.”

Using DAI to beat Negative Interest Rates

“Known officially as the Bay Area Trade Finance Blockchain Platform, banks and businesses store order, logistics and transaction data on the system to create new transaction efficiencies. It’s also said to provide regulators with greater oversight and gives small and medium-sized enterprises (SMEs) access to more sophisticated financing tools.

The new funding from Beijing is expected to help PBoC drive adoption for its trade finance platform among businesses.”

“Investment management firm Elliott Management has set up a deal with Twitter to save Jack Dorsey’s role as CEO of the social media network.

Following the deal closure —  which considers a $2 billion share buyback — Elliott will gain a seat on Twitter’s board of directors. Private equity firm Silver Lake will invest $1 billion in Twitter and also get a seat on the board.”

“Horizon Blockchain Games raised $5 million in capital for their game SkyWeaver. The digital trading card game currently has 12,000 users playtesting, with over 90,000 waiting for access.

To make SkyWeaver possible, we’ve developed a number of novel protocols and transaction infrastructure for Ethereum. Through clever and careful design, we’ve architected an Ethereum-based blockchain stack for virtual worlds that is non-custodial (i.e. players have full ownership of their items), user-friendly and easy to build on.”

March 9

Recommended read.

“Today Ethereum’s native currency, Ether (ETH), serves as the primary reserve asset supplying economic bandwidth for its money protocols and financial applications. 

Importantly, Ether supplies the most valuable form of bandwidth—trustless economic bandwidth. Ether is trustless value supplying economic bandwidth for Ethereum’s permissionless money protocols.

ETH, BTC, and gold are some of the three most trustless forms of economic bandwidth in existence today.

Since Bitcoin is limited by the functionality of its network it serves more as a network for peer-to-peer value transfer rather than a network for programmable money. Most of Bitcoin’s money verbs require a trusted crypto bank.

That’s why ETH is so important. The expressivity of Ethereum means we can create an entire money system inside the Zero Trust quadrant.

See Also: Ivan on Tech Interviews Ryan Adams (Video)

EthLondon: Vitalik and Joe Lubin on Ethereum 2020

“Building that battery involves the carbon footprint of large-scale mining, multiple stages of chemical refining and it’s all geographically dispersed. And of course, China uses a lot of coal-fired electricity.

Blockchain is an essential first step in accounting for this complexity. 

You can’t reduce something you can’t measure. So if this is the flow of my material and I understand the carbon footprint of each segment of transport or manufacture along that way, I can engage my tier-one suppliers, my battery manufacturer, for example, in a conversation about balancing sustainability with price. At the moment it’s all about price.

Car manufacturers are interested because they all have carbon neutrality targets. Buying a slightly more expensive electric battery component from a manufacturer that uses hydropower could potentially knock five years off their carbon neutrality footprint.”

“If your business comprises of more than 1 person, an externally owned accounts is not a secure way to manage your crypto business’s funds. If an employee goes rogue or is careless with the private key, the funds are gone forever.

Enter the multisig. The Gnosis Safe Multisig is a smart contract wallet running on Ethereum that requires a minimum number of people to approve a transaction before it can occur (M-of-N).

On top of that, the Gnosis Safe multisig gives you complete self custody over your funds and takes just 60 seconds to set up.”

See Also: DeFi Dive: RenVM – Interoperability for DeFi

“Boeing has partnered with multinational aerospace conglomerate Honeywell to use its GoDirect platform to track and sell $1 billion worth of excess airplane parts using blockchain technology. Honeywell’s GoDirect platform comprises a customized version of Hyperledger Fabric.

The aviation industry has traditionally relied on a headache-inducing web of paper certificates pertaining to each individual part, their original manufacturer, and current safety standards.”

“David Sønstebø, the founder of Iota, revealed that he will personally fully repay all 46 victims of last month’s Iota hack to the tune of 8.52 million MIOTA — worth roughly $1.97 million at the time of writing.

March 7

The petition accuses Google of censoring cryptocurrency content through a variety of means — including blocking ad campaigns and removing apps related to crypto from Google Play and deleting or restricting access to information about cryptocurrencies.

The post describes Google’s censorship of crypto content as comprising a fundamental disregard for human rights by denying universal access to information.

The post calls for the crypto community to boycott Google’s services and advocates a coordination migration to alternative platforms that operate using distributed technologies.”

See Also: Sign the Petition

Bitcoin trading volume dominance decreased from 40% to 27% in February, which the researchers recognize as one of the sharpest month-over-month changes. Furthermore, interest in Ether (ETH) trading steeply rose, with a total monthly volume increase of +158.6%.

If this trend were to continue, it would signify a greater appetite for altcoins from market participants.”

“The study, named the “Chain Integration Project” (CHIP), saw those retailers and others run Hyperledger Fabric nodes on a slice of their mammoth supply chains.

The study found blockchain to be a promising way to share serialized data after following tens of thousands of products including Nike Kids’ Air Force 1 shoes and Michael Kors parkas as they moved between distribution centers.

The system as it stands right now can process what we need it to, but in the long term we’re talking about billions of products flowing through the retail supply chain with these RFID tags. There needs to be a much more robust system in place to handle that.”

“Armstrong illustrated how the developments that resulted in the mass adoption of the internet are similar to the work that is currently being done on cryptocurrencies.

The parallels to crypto are pretty staggering here…. Slow internet speeds/dial up models reflect early challenges in scaling blockchains. [Internet traffic encryption standards] SSL and HTTPs are similar to some of the privacy coin efforts.

While he admitted that it is not clear which blockchain “will help get crypto from ~50M users to 5B,” he predicted: ‘The chain that manages to ship some of these scalability, privacy, decentralized identity, and developer tool solutions will have a big leg up.'”

“Ethereum hard fork coordinator James Hancock said ProgPoW will not be included on the hard fork schedule going forward. Tweaking the Ethereum hash algorithm isn’t quite worth a chain split.

ProgPoW antagonists think addressing the current Proof-of-Work chain when the community is nearing its major switch to PoS is superfluous, if not dangerous.

We should focus on PoS and communicating the transition to PoS.”

See Also: Ethereum’s ProgPoW Debate Is About Much More Than Mining

Digital self-sovereignty and disintermediation are less of an issue for regulators, she noted, in a market where recent estimates have pointed to 90% of economic activity occurring on centralized custodial exchanges.

The Financial Action Task Force (FATF) guidance for crypto-asset regulation — set to take effect in June — recognizes this by placing the onus of AML compliance on “Virtual Asset Service Providers (VASPs),” typically exchanges or wallets.”

See Also: UK Adds Further Regulation to Already-Strict 5AMLD Guidelines
See Also: German Financial Regulator Takes Action Against First Bitcoin ATMs

“Bitfinex specified that the futures trading enables traders to buy or sell assets at a specified price and date in future, featuring up to 100x leverage. Tether Gold/Tether futures trading will only be available to verified users in certain jurisdictions.

According to the announcement Tether Gold crossed a $21 million market capitalization on March 4, becoming the world’s biggest gold-backed digital asset by overtaking nearest rival PAX Gold (PAXG).”