This week in crypto: QuadrigaCX plot thickens, Enjin releases Unity SDK, and Ripple fires at JPM coin. Keep Ngaged #9
Hold on to your hats everybody! Just when things were looking to quiet down for crypto, the whirlwinds are starting to pick up again. We’re looking at an exchange embroiled in controversy, adoption on a scale only dreamed of in 2017, and a feud brewing between two fintech companies. Before we get into the general news, let’s first check in with our clients.
Some news has been released regarding the recent token swap for those that missed the swap date. The team has decided to burn the unredeemed tokens. However, there is good news for those that have missed token swap. As long as you own the private key to your wallet, you will be able to receive native tokens from Eximchain’s token reserve pool.
By doing this, Eximchain hopes to find a compromise between helping their early stage supporters and moving things forward. Eximchain’s team will send out an announcement and the next steps in March for everyone who submitted their information to firstname.lastname@example.org before February 28th. The remaining swaps will be done in batches.
The long wait for regulators to properly examine the project may be over soon as PayPie announced their confidence in being close to the final stages of regulatory approval. They are currently preparing an updated whitepaper and finalized audit reports to present to the authorities with a clear sight on what needs to be done to progress. The coming weeks may be very exciting indeed, with patience paying off for the company’s success.
Jennifer Robertson is seeking $225,000 in repayment for costs associated with QuadrigaCX's creditor protection…cointelegraph.com
The hottest case for the last few months was thrown curve ball after curve ball, with another being released just after we published last week’s Keep Ngaged. Several of the cold wallets were found to be empty since April of 2018.
Then, ZeroNonCense found that significant quantities of Ethereum supposedly held by the defunct exchange were instead on multiple other platforms including Kraken and Bitfinex. Now, the widow of the late QuadrigaCX founder Gerry Cotten, is requesting repayment for capital used by the crypto exchange to gain protection from creditors through the court system.
Ethereum-based digital asset tokenization startup Enjin will launch development software for leading game development…cointelegraph.com
A huge storm may be brewing for Enjin, as it announced its SDK (Software developer kit) will go live in the Unity store on March 14th. This could potentially give millions of developers access to tokenization of in-game items that can be freely transferred from game to game.
This represents one of the largest use-cases of the Enjin platform as players would see value in being able to keep that fancy armor piece in one game or potentially craft one item in a game that sells for a higher price in another. While no hard numbers can be stated, the community will be keeping a sharp eye out for games that utilize these features.
Ripple CEO Brad Garlinghouse says the recently-announced stablecoin from U.S. banking giant JPMorgan Chase lacks…cointelegraph.com
A quick show of hands could tell us all that something would come of the JPM vs. Ripple debate brewing. Ripple states he doesn’t get why the JPM coin would benefit JP Morgan’s customers when the system has no interoperability with other financial institutions. It will be interesting to see the impact JPM coin will actually have, as its use is limited to JPM’s own proprietary system for now.
Analysis from around the web:
Let’s take a look at what a few experts have to say around the current price action of Bitcoin and Crypto. Please remember that these are strictly the opinions of third parties and these authors are not affiliated with Ngaged.
Alistair Milne, the chief investment officer at Atlanta Digital Currency Fund, has said that the block reward halving…www.ccn.com
Over the last couple of days, we have seen the market stagnating in the evaluation as it came up to around $134B area…blockonomi.com
Sentiment and Politics:
It really has been a while since we heard from our good friend Nouriel Roubini. He’s still up to his old criticisms, this time in a speech at the CFA Institute. While many believe his predictions come to pass earning him the moniker, ‘Dr. Doom’, being a permabear typically means you’re at least right once in a financial cycle. That hardly qualifies one as an expert when they state the same fact over and over again. So when he levies criticism at cryptocurrency and even blockchain despite numerous companies already building logistic and otherwise proving him wrong, it’s become even harder to take his words seriously anymore.
In fact, almost as an antithesis to his comments, Connecticut recently introduced a bill ratifying the use of smart contracts in commerce. For those whose head spins just at the thought of legalese, Helen Partz with Cointelegraph posted an excellent summation of the bill. This is yet another amazing example of blockchain technology showcasing a real world impact on current processes utilized by our daily economy. I’m certain more states will follow Connecticut’s example in the following months.
As always, this is Derek Clauson, signing off. I’ll see everyone next week!
What are your thoughts on the future of the crypto markets? Have you seen an article you would like featured? Leave a comment below and let us know what you’d like to see in upcoming issues. We’ll see you next week and remember to Keep Ngaged!
This issue of Keep Ngaged was brought to you by the community experts at Ngaged. If you’re looking to nurture a great community of your own for your crypto or blockchain company, be sure to check out Ngaged.io and get in touch. To learn more, take a look at one of our recent articles on why community management matters.
About the author: When not chasing down the latest news and strategies in crypto marketing, Derek spends his time helping build up successful blockchain companies through Ngaged.io and reading on the couch with his dogs.