BitcoinNews: #1 In Blockchain News

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Boeing Breaks New Ground as Aerospace Turns to Blockchain

US aerospace multinational giant Boeing has announced it is to form a partnership with an artificial intelligence (AI) company to develop pilotless vehicles using blockchain technology, writes Cointelegraph.
Boeing will join up with Texas-based SparkCognition for the project. It has been reported that Boeing has already invested USD 32 million into the company to create the new platform.

Read full article at https://bitcoinnews.com/boeing-breaks-new-ground-as-aerospace-turns-to-blockchain/

Video https://www.youtube.com/watch?v=EAGPVoYLqfI

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Thai Government Announces “Bond Coin” to Unlock Bond Settlements

Thailand’s government has confirmed that the Thai Bond Market Association (TBMA) is currently developing a state-run token to ensure payments and the clearing of corporate bonds, according to BTC Manager.
The token, “Bond Coin”, according to a Bangkok Post report, will be built over a private blockchain and will ensure transactions between pre-selected participants such as regulators and bond issuers, confirming earlier reports that a securities body in the country was considering such a move.

Read full article at https://bitcoinnews.com/thai-government-announces-bond-coin-to-unlock-bond-settlements/

Video https://www.youtube.com/watch?v=MziVZd2wXWg

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Stellar Becomes First Sharia Law Approved DLT Protocol

Open source protocol Stellar has announced that it is now Sharia Law compliant in the cryptocurrency space, according to Cointelegraph.
Stellar has claimed to be the first DLT protocol to receive such certification, and the company has been the focus of a Shariyah Review Bureau examination. The bureau is an advisory body licensed by the Bank of Bahrain which offers guidance to company activities regarding Sharia law.

Read full article at https://bitcoinnews.com/stellar-becomes-first-sharia-law-approved-dlt-protocol/

Video https://www.youtube.com/watch?v=M8n7TqTZTUI

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Canada’s Largest Credit Union Coalition Joins NY Blockchain Consortium R3
 
The 16 largest Canadian Credit unions that make up the Large Credit Union Coalition (LCUC) has joined database company R3, reports Cointelegraph.
R3 leads a consortium of more than 200 financial institutions in research and development of DLT usage in the financial system and other commercial sectors. It is responsible for the open-sourced system, Corda, which was designed for dealing with complex transactions and security, and is expected to have many of the benefits of blockchains.

Read full article at https://bitcoinnews.com/canadas-largest-credit-union-coalition-joins-ny-blockchain-consortium-r3/

Video https://www.youtube.com/watch?v=q7Rlz1xc2Y4

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Crypto-Positive David Solomon Confirmed as Goldman Sachs CEO

David Solomon, who has publiclly discussed the financial benefits of cryptocurrency trading, has been confirmed as the next CEO of Goldman Sachs to replace Lloyd Blankfein.
Solomon has been with Goldman Sachs since 2006, working his way from the joint head of the investment banking division, to the chief operations officer in 2016. Last month, he shared the news that the New York-based investment bank was expanding its cryptocurrency services offered to clients.

Read full article at https://bitcoinnews.com/crypto-positive-david-solomon-confirmed-as-goldman-sachs-ceo/

Video https://www.youtube.com/watch?v=rxFM6zawhQM

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Litecoin’s Charlie Lee Says Get 1 Bitcoin Before Buying Any Other Crypto

The founder of Litecoin, Charlie Lee, advises that all cryptocurrency traders, investors, and enthusiasts own at least 1 Bitcoin before buying any of the thousands of different altcoins. Lee goes as far as saying that people should buy a whole Bitcoin before buying any Litecoin. He references a meme of comic book superhero Dr Strange, where Dr Strange uses his time traveling device to explore all the possible realities and concludes that Bitcoin survives in all realities.

Read full article at https://bitcoinnews.com/litecoins-charlie-lee-says-get-1-bitcoin-before-buying-any-other-crypto/

Video https://www.youtube.com/watch?v=DkLG9n3NXNA

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Singapore Real Estate Developer Claims to Be First past Post Using DLT

A Singapore-based property company has claimed to be the first real estate developer in Southeast Asia to implement blockchain technology for conducting individual and institutional investment business in the sector, writes E27.
The company, NOON Capital, plans to utilize Ethereum technology in the financing and management of its real estate investments, two of which are in Thailand with a combined value of USD 20 million.

Read full article at https://bitcoinnews.com/singapore-real-estate-developer-claims-to-be-first-past-post-using-dlt/

Video https://www.youtube.com/watch?v=FLNVLj4C_aQ

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Coinbase Launches Cryptocurrency Index Fund

Coinbase has launched the Coinbase Index Fund, a market-weighted composition of all the cryptocurrencies traded on Coinbase’s GDAX exchange. This is the cryptocurrency equivalent to stock market index funds like the Dow Jones Industrial Average, S&P 500, and NASDAQ.

Read full article at https://bitcoinnews.com/coinbase-launches-cryptocurrency-index-fund/

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Erik Finman a Bitcoin Millionaire Before the Age of 18

Erik Finman is a self-made millionaire thanks to Bitcoin. He first invested in Bitcoin back in 2011 when he was 12 years old with USD 1,000 given to him by his grandmother. At the time, Bitcoin was priced near USD 10.
Although it turned out to be a very good investment, most people at the time would have called it extremely risky. In 2011, there were very few people willing to put any money into the unproven cryptocurrency, thinking it had no intrinsic value and nothing to back its value.

Read full article at https://bitcoinnews.com/erik-finman-a-bitcoin-millionaire-before-the-age-of-18/

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McAfee Says Bitcoin Will Hit $15K By July 2018, $1M by 2020

John McAfee says Bitcoin will hit USD 15,000 by the end of July 2018 at the latest. This revises his earlier prediction that the mark would be reached in June. He says that the recent price crash, which has brought Bitcoin down to USD 6,400 as of this writing, is due to an overreaction about news that Bitcoin exchanges are being investigated for price manipulation. He says this will delay the bull rally by no more than 30 days.

Read full article at https://bitcoinnews.com/mcafee-says-bitcoin-will-hit-15k-by-july-2018-1m-by-2020/

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Digital Jersey and Binance to Establish Crypto Exchange

Digital Jersey, the economic development agency representing Jersey’s digital industries, is to corporate with giant blockchain exchange Binance, signing a memorandum of understanding (MoU) with a view to the two firms developing a compliance base and cryptocurrency exchange on the island.
The world’s largest cryptocurrency exchange is planning to set up the first Sterling to crypto exchange in Jersey – potentially bringing millions of dollars into the island’s economy, writes The Jersey Evening Post.

Read full article at https://bitcoinnews.com/digital-jersey-and-binance-to-establish-crypto-exchange/

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Orphan Blocks Are Healthy for Bitcoin

The chief scientist of blockchain research and development company nChain, Craig Wright, has written up an analysis of orphan blocks and determined that although miners complain about them, they increase the health of the Bitcoin mining network by incentivizing miners to invest in increased connectivity.

Read full article at https://bitcoinnews.com/orphan-blocks-are-healthy-for-bitcoin/

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Cloud Mining Firm Argo London Stock Exchange’s First Crypto Listing

Earlier this week, cloud-based cryptocurrency mining firm Argo was announced as the first of its kind to be listed on the London Stock Exchange. This is a significant step in the acceptance of cryptocurrency by the mainstream financial sector.

Read full article at https://bitcoinnews.com/cloud-mining-firm-argo-london-stock-exchanges-first-crypto-listing/

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Crypto Marketing Gets Creative Amid Ad Bans and Tighter Regulatory Scrutiny

A new Wired report finds that US companies are experimenting with new marketing channels within the crypto space, especially after recent high-profile bans on crypto-related advertising on social media channels and with the Securities and Exchange Commission (SEC) starting to take a closer look at unregulated token sales late last year.
This has also created new opportunities for those willing to take on the challenging task of differentiating genuine startups from fraudulent ones.

Read full article at https://bitcoinnews.com/crypto-marketing-gets-creative-amid-ad-bans-and-tighter-regulatory-scrutiny/

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Paper Finds Tether Used to Manipulate Bitcoin Price in Historic $20K Rally

A new paper published on the Social Sciences Research Network by John M Griffin and Amin Shams from the department of finance at the University of Texas at Austin has concluded that Tether was used to artificially manipulate Bitcoin’s price during the historic rally to USD 20,000.
The United States Commodities Futures Trading Commission already sent subpoenas to Tether and Bitfinex on 6 December 2017 during the height of the Bitcoin rally, possibly for the market manipulation that this new study has found, but this has yet to be confirmed. Tether and Bitfinex both have the same CEO, Jan Judovicus van der Velde.

Read full article at https://bitcoinnews.com/paper-finds-tether-used-to-manipulate-bitcoin-price-in-historic-20k-rally/

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Germany Says Bitcoin No Threat to Financial Stability

The German Federal Government has stated that cryptocurrencies do not pose a threat to financial stability, reports Cointelegraph.
The government stated on 12 June that the volume of cryptocurrencies, when juxtaposed to the overall size of the German financial system, is comparatively low and, therefore, simply needs careful monitoring and regulatory measures put in place in order to control the space. This assessment is a view generally shared by the G20, of which Germany is a significant member state.

Read full article at https://bitcoinnews.com/germany-says-bitcoin-no-threat-to-financial-stability/

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India on the Back Foot over Crypto Ban as Central Bank Admits Lack of Research

The Reserve Bank of India (RBI), India’s central bank, has admitted that it did not undertake a thorough enough research of cryptocurrencies before issuing its ban earlier this year, writes Bitcoin.com.
This was the bank’s response to a Right to Information query filed by an Indian blockchain lawyer, which has since been distributed to news outlets.

Read full article at https://bitcoinnews.com/india-on-the-back-foot-over-crypto-ban-as-central-bank-admits-lack-of-research/

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Ethereum Co-Founder Joe Lubin: Blockchain and Crypto Can Transform Society

Ethereum co-founder Joseph Lubin believes blockchain will have the same kind of impact in the future as the internet had in the late nineties, writes Business Insider. The co-founder of ConsenSys was speaking at the MoneyConf in Dublin where the blockchain company has opened its new office.
Lubin made it clear that he was looking for blockchain to make a lasting impact: “This technology is so profound, it’s going to do so many amazing things for economic, social, and political systems worldwide… We’ve really no concern that the ecosystem or the technology is in real danger.”

Read full article at https://bitcoinnews.com/ethereum-co-founder-joe-lubin-blockchain-and-crypto-can-transform-society/

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Moody’s, Fitch, S&P: Bitcoin Futures Considered Risky

The top three credit rating agencies, S&P, Moody’s and Fitch, said they consider Bitcoins future exchanges to be risky business, and that banks which clear Bitcoin futures contracts could have their credit rating downgraded if Bitcoin futures trading volume continues to grow.
The credit rating agencies assign letter grades to banks, corporations, and governments to indicate how likely they are to default on debts. The lower a grade a bank has, the harder and more expensive it is for them to obtain loans, limiting the amount of credit they can extend to clients.

Read full article at https://bitcoinnews.com/moodys-fitch-sp-bitcoin-futures-considered-risky/

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New US Trafficking Act Will Investigate Illicit Crypto Use

The Fight Illicit Network and Detect (FIND) Trafficking Act is being introduced by congressman Juan Vargas of California to the United States House of Representatives Committee on Financial Services. If the bill is passed, it would require the Comptroller General of the United States to investigate the illicit use of cryptocurrencies for drug trafficking and sex trafficking in online marketplaces.

Read full article at https://bitcoinnews.com/new-us-trafficking-act-will-investigate-illicit-crypto-use/