Crypto Weekly – Nov. 2
Here is a collection of the popular stories from the cryptocurrency and blockchain space this week.
Bitcoin celebrates 10th anniversary
Bitcoin, the most famous and major cryptocurrency, and the first product out of blockchain technology, turned 10-years old. It was on October 31, 2008, that Bitcoin’s founding white paper was published by an anonymous cryptographer with the pseudonym Satoshi Nakamoto. In the past 10 years, Bitcoin has evolved from an anti-establishment hobby on the internet among coders to around $110 billion market. The cryptocurrency’s first ever recorded trading price was $0.003 on March 17, 2010, on the now-defunct platform bitcoinmarket.com.
JP Morgan’s Ethereum-Based Quorum Blockchain can Tokenise Gold Bars
Financial services major JP Morgan’s Ethereum-based blockchain, Quorum, can tokenize gold bars that will allow sustainable miners to earn a premium on the global markets, Financial Review reported on its website. The Enterprise-ready distributed ledger platform opens a new world of trading opportunities with the blockchain technology, apart from moving money, the report said. It allows users to operate smart contracts or a computer program that automates processes based on a set of rules.
US Voters want to treat crypto, fiat currencies equally for political donations
A majority of US voters feel that cryptocurrencies and traditional currencies such as the U.S. dollar should be treated equally for donations to political campaigns during federal elections, according to a survey conducted by blockchain based research firm Clovr. Sixty percent of eligible voters believed that it should be legal to donate cryptocurrency in federal elections under the same rules that apply to donations in U.S. dollars. Only 21 percent of the surveyed voters disagreed.
Japan’s FSA Says Stablecoins are Not Cryptocurrencies
Japan’s Financial Services Agency or FSA clarified that stablecoins are not cryptocurrencies under the current regulatory framework, according to a report by Bitcoin.com. The financial regulator also talked about the registration requirements for stablecoins’ issuers and dealers. Stablecoin is a term used to describe cryptocurrencies meant to hold stable values, designed to minimize the price volatility. The fiat-pegged cryptocurrencies, do not fall into the category of virtual currencies based on the Payment Services Act, the FSA noted.
NXMH buys Cryptocurrency exchange Bitstamp
Belgium-based investment company NXMH, which owns South Korean cryptocurrency exchange Korbit acquired Bitstamp, one of Europe’s leading cryptocurrency exchanges. The terms of the deal were not disclosed. Bitstamp said the customers should not have any concerns about their accounts or changes to the way they operate.
Singapore Utility unveils Blockchain-Based renewable Energy Marketplace
SP Group, a major electricity and gas utility in Singapore, announced the launch of blockchain-powered renewable energy certificate or REC marketplace. The marketplace innovation was unveiled at the ASEAN Energy Business Forum or AEBF. According to the company, the marketplace enables local and international organizations around the world, of any size, to trade in RECs. The blockchain technology will ensure the security, integrity, and traceability of each REC transaction.
As of this writing, Bitcoin is gaining 0.82 percent or $52.08 at $6357.01. Etherium is trading 1.2 percent or $2.55 higher at $199.26 on Coinbase.
Source: Read Full Article