The Daily Scow

January 23, 2019

If you’re new to the Daily Scow, be sure to pull up a chair.

This five minute read highlights a lot of major developments in the Blockchain space that may have slipped under your radar. There are many great Bitcoin and Blockchain blogs, and Reddit covers the space thoroughly.

However, many Blockchain projects, thought leaders, and advocates don’t get their stories in the bright lights. Given that our Scow Capital team is vigorously studying every corner of the markets each day, we created a simple forum to highlight some of the best stories we’ve discovered on the web or discussed with traders, Blockchain experts and more.

Finally, be sure to check back with us on Friday for our first interview with a major thought leader in the space, whose work we cover today in the highlights below. As always, thank you for reading.

Now let’s get to the stories of the day.

SECURITY

The Low Hanging Fruit

Every day, roughly $2.5 million in cryptocurrency is stolen from exchanges around the globe. Blockchain security expert Hartej Sawhney told CNBC that hackers are exploiting vulnerabilities in crypto exchanges and called these targets “low hanging fruit.”

Cryptopia, a New Zealand-based cryptocurrency exchange, recently saw $16 million in assets stolen and fueled new concerns about the safety of these assets. Sawhney suggested that exchanges don’t value security enough and should receive regular penetration testing from experts.

CRYPTO

The price of Bitcoin pushed back above $3,600 this morning, bringing the total market capitalization to roughly $63.2 billion. Will there be a breakout in 2019?

Money Morning Editor David Zeiler surveyed several thought leaders in the space, including John McAfee, Ray Yousef, Anthem Hayek Blanchard. Have a read, right here. McAfee expects Bitcoin to top $50,000 at some point this year, while Blanchard expects another bull cycle to form.

Meanwhile, Tron investors could be facing price pressure, according to technical analysis from Token Investor Online.

Here are the top performing cryptocurrencies over the last 24 hours.

· Waves added 24.6%. The project recently joined Bitcoin, Ethereum, Litecoin, and XRP on the Wirex platform.

· ReddCoin gained 18.3%. According to Jack Marshall, nothing is fueling the uptick, although the project will be launching ReddID, a tool designed to allow users to tip content creators. Here’s more.

· Ravencoin saw gains of 16.3%. No major news has emerged, although optimism remains high after TokenizEU announced in December that it would include Ravencoin in its compliance services.

· Stratis added 12.3%.

· THETA popped 12.11%.

OPERATIONS

Fixing Blockchain from the Ground Up

Why do many Blockchain projects continue to fail? The answer appears to be more of a management and human resources issue. Dennis Lewis at Global Coin Report asks that very question and offers his lessons for teams looking to build viable projects.

Money management, team planning, and long-term vision are in focus.

Mmm… Wine

It’s a story dated from October, but it bears repeating. Blockchain technology can exchange not only the wine industry but also the wine investment industry. Fine wine trading is centuries old, but it’s largely based on trust, stories, and a relatively loose system of authenticating the assets.

Blockchain can ensure consumer protection, bolster trust among buyers and sellers, and help to establish next-generation platforms. Soon, you’ll just need a machine to pour it for you.

Wait Until 2025

Finally, we have to preach a little patience.

Gartner analysts are pros at quelling hype. Their latest report on the Blockchain Spectrum takes us through the four phases of the technology’s evolution. An incomplete picture of major components like tokenization and decentralization is creating confusion among executives who want to learn more.

Gartner notes that the spectrum has shifted from Phase 1 — Enabling technologies — to Phase 2 — Inspired solutions. However, it will take at least until 2025 and beyond when we start to see enhanced solutions emerge that bring about the full benefits of the technology.

The group notes that CIOs need to remain up to date on the changes and accelerations of the space.

Most important, Rajesh Kandaswamy, VP Analyst at Gartner, says “CIOs and business leaders must not underestimate the radically disruptive nature of blockchain-complete and blockchain-enhanced solutions. Within three to five years, many of blockchain’s core technical challenges are likely to be resolved.”

It’s a quick read, and definitely worth your time.

LATAM Blockchain Forum

If you’ve brushed up on your Spanish, here’s an update on the LATAM Blockchain Forum, which will center on blockchain’s influence on the South American banking, mining, energy, and telecom industries. We’ll be keeping a close eye on developments as the event approaches.

And if you are going to Santiago, Chile, be sure to check out the Celinto Catayente Towers.

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