Blockchain Report — 9/7/2018

Christopher Durr
Sep 7, 2018 · 3 min read

Summary: Twitter CEO Says It’s Exploring Blockchain As A Solution To Its Problems; Coinbase Is Looking To Create A Bitcoin ETF; Brian Kelly Says “Days Of A Whitepaper And A Dream” Are Over

Twitter CEO Says It’s Exploring Blockchain As A Solution To Its Problems

According to Coindesk, Twitter CEO Jack Dorsey told a Congressional committee that Twitter is exploring the possibility of using blockchain technology to fight problems on the platforms. Dorsey’s answer was in response to a question from California Representative Doris Matsui. Matsui asked Dorsey:

“You previously expressed interest in the broad applications of blockchain technology, including potentially in an effort to verify identity to fight misinformation and scams. What potential applications do you see for blockchain?”

Dorsey replied:

“First and foremost we need to start with the problems that we’re trying to solve and the problems we’re solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially.”

Matsui noted during the hearing that she is introducing legislation to develop a definition of blockchain.

Coinbase Is Looking To Create A Bitcoin ETF

According to NewsBTC, Coinbase is considering adding a Bitcoin exchange-traded fund (ETF) to its platform, and is communicating with the world’s largest global investment management firm BlackRock to do so.

Coinbase held several conversations with executives from BlackRock’s blockchain division, in an attempt to gain valuable industry insight and expertise. BlackRock is a firm that has significant experience and knowledge of ETFs and the regulations surrounding them.

Apparently, BlackRock did not give Coinbase any concrete recommendations. It is still unclear whether or not Coinbase will pursue creating an ETF with BlackRock.

Coinbase is not the only firm attempting to develop an ETF. U.S. cryptocurrency exchange Gemini proposed a Bitcoin ETF but the proposal was rejected by the SEC. The SEC also rejected a Bitcoin ETF proposal from ProShares, GraniteShares, and Direxion before.

Brian Kelly Says “Days Of A Whitepaper And A Dream” Are Over

According to Coin Telegraph, founder and CEO of digital currency investment firm BKCM said that Initial Coin Offerings (ICOs) are here to stay but that there will be significant changes to them in the future. He called ICOs an effective fundraising tool, but said that “the days of a whitepaper and a dream and $30 million are probably over.”

Kelly is also a cryptocurrency analyst and regular contributor on CNBC. Kelly said that he viewed blockchain and cryptoccurrencies as “early stage technology”, in the same way that Amazon started as a bookstore and transformed into a massive video streaming platform.

Kelly said that when choosing ICOs and cryptocurrencies to invest in, there are a number of positive indicators that show whether or not they will be a good investment. These indicators include activities that will increase the network, as well as catalysts such as conferences or potential software updates.

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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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