Blockchain Report — 10/15/2018

Christopher Durr
Oct 15, 2018 · 3 min read

Summary: Vitalik Buterin Says He Regrets Using The Phrase “Smart Contracts” For Ethereum; Plastic Surgeon Buys $352 Million Stake In Cryptocurrency Exchange; Coinbase Adds Ethereum Token To Its Pro Trading Platform

Vitalik Buterin Says He Regrets Using The Phrase “Smart Contracts” For Ethereum

According to Bitcoinist, Vitalik Buterin, the founder of Ethereum, discussed cryptocurrency law on Twitter. Buterin responded to a tweet from CleanApp that said:

“We’ve been clear since the start: *crypto* should’ve left “law out of it” & stayed a-legal”

Buterin responded to that tweet by clarifying his position on smart contracts:

“To be clear, at this point I quite regret adopting the term ‘smart contracts.’ I should have called them something more boring and technical, perhaps something like “persistent scripts.”

Ethereum associate Vlad Zamfir agreed with what Buterin said, but Zamfir said he preferred the term “stored procedures” instead of “smart contract”. However, Zamfir also said that he doesn’t regret the use of the phrase “smart contracts” to describe scripts running on Ethereum:

“But I for one don’t regret the terminology, it has been a great learning opportunity for everyone.”

Plastic Surgeon Buys $352 Million Stake In Cryptocurrency Exchange

According to Bloomberg, a group led by plastic surgeon and startup investor Kim Byung-gun has decided to invest in Bithumb. Bithumb is one of the largest cryptocurrency exchanges in South Korea. The name of the group is BK Global Consortium, and it decided to buy 50% plus one share of BTC Holding Co., the largest investor in Bithumb, for 400 billion won (approximately $352 million).

Kim has decided to increase his stake in the company since the past two years. He initially made his wealth by investing in technology and biotechnology startups. Last year, he formed a blockchain analysis and crowdfunding company in Singapore.

A spokesman from BK Global Consortium said the investment is estimated to be completed by February 2019.

Coinbase Adds Ethereum Token To Its Pro Trading Platform

According to Coindesk, cryptocurrency exchange Coinbase has decided to add the 0x (ZRX) token its pro trading plaform Coinbase Pro. 0x is the first ethereum token to be listed on the Coinbase platform. This decision was announced by Coinbase in a blog post, and said it would be accepting deposits for ZRX 12 hours after the initial announcement. Coinbase Pro general manager David Farmer wrote:

“Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading will be accessible for users in most jurisdictions, but will not initially be available for residents of the state of New York.”

Because ZRX is available only on Coinbase Pro, that means retail investors will currently not be able to buy ZRX through Coinbase.com, or the iOS/android app.

After the announcement, the price of ZRX jumped to its highest level since mid-august. ZRX was up 13% that day.

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Blockchain Report

Blockchain Report™ is a millennial focused daily news publication and TV show dedicated to delivering the most relevant blockchain and crypto news through social media channels.

Christopher Durr

Written by

I work for ICO Watchdog, BitDiem, and USDVault. All opinions are my own views only. Email: cdurr@uci.edu

Blockchain Report

Blockchain Report™ is a millennial focused daily news publication and TV show dedicated to delivering the most relevant blockchain and crypto news through social media channels.

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