The Week in Crypto 13/10/17

Bitcoin hits record value, Tokyo using blockchain on the grid, Ethereum on the Nasdaq

The News

• Bitcoin have broken new records hitting a value of $5,750 USD and a market cap of $96B after a 18% rally in the last 24 hours. coinmarketcap
• Former JPMorgan Chase trader Daniel Masters issued an exchange traded note for ethereum on the Nasdaq Stockholm exchange. coindesk

ICOs

• Red Pulse, a research sharing platform held an ICO which sold out in one hour, raising $15M. Red Pulse, was the first company to ICO on top of the NEO platform, a Chinese competitor to Ethereum. redpulse
• Bitcoin startup Ripio raised $31 million in a private token sale to create a credit network which uses ethereum tokens as a medium of exchange between lenders and borrowers. coindesk

Adoption

• Switzerland’s Lucerne University of Applied Sciences and Arts have partnered with Bitcoin Suisse AG to accept student tuition payments in Bitcoin. Bitcoin Suisse AG will bear the exchange rate risk. coindesk
• The Tokyo Electric Power Company are exploring the use of the blockchain to construct distributed energy grids, in an effort to mitigate the risks of centralised power failure (like Fukushima). coindesk
• Fujitsu has joined three major banks to trial a peer-to-peer money transfer system. fujitsu

Market:

• Another big week for bitcoin, with gains of 29%. An uneventful week for ethereum.