Blockchain & Crypto Week In Review, Issue #2 (31.12.18)
Welcome to our Ferrum Network media digest. Here we will provide you with regular updates on developments from the blockchain & cryptocurrency sphere.
Here is a rundown of the last week:
Regulation
Bank of America Files for Blockchain ‘ATM as a Service’ Patent: Bank of America may be eyeing shared networks of ATMs powered by blockchain tech, according to a newly revealed patent application. The filing, published by the U.S. Patent and Trademark Office, outlines a system via which a cash-handling devices could utilize blockchain technology to “accelerate transaction speed and/or facilitate other types of transactions in addition to ATM transactions like cash withdrawals and deposits, such as gift registry transactions.” Read more.
India May Legalize Cryptos But Under ‘Strong’ Rules: The Indian government could possibly legalize cryptocurrencies, but with tough terms and conditions attached. An interdisciplinary committee set up by the government to investigate cryptocurrencies, is not in favor of an outright ban. An anonymous senior official who attended the committee’s meetings told the newspaper: “We have already had two meetings. There is a general consensus that cryptocurrency cannot be dismissed as completely illegal. It needs to be legalized with strong riders. Deliberations are on.” Read more.
Trading
Japanese Yen Set to Surpass US Dollar in Bitcoin Trading: The USD is in many ways the de facto global currency for business and trade. It is the most popular currency in the forex market, and as such, it is no surprise to find that BTC/USD is one of the most commonly used trading pairs. According to the cryptocurrency market indexing platform Coinhills, BTC/USD accounted for more than 48 percent of all Bitcoin/fiat trades over the last 24 hours. JPY comes as a close second with more than 47.23 percent of all such transactions within the same time frame. Read more.
Adoption
Mark Zuckerberg Uses Blockchain For His Own Ends: The idea that a company as powerful and autocratic as Facebook Inc. would ever dive into crypto-currencies has always seemed a bit like the Death Star deciding to throw a staff Christmas party. The company’s digital token, still in its infancy, would let users transfer money on WhatsApp, focusing first on the remittances market in India. It would be a so-called “stablecoin,” which are usually pegged to a currency like the dollar to minimize volatility. There would be a pool of assets stored in custody to protect it. Read more.
Bitcoin in 2019: Analysts See Institutional Investors Wading into Crypto: The bitcoin price got hammered in 2018 amid the prolonged Crypto Winter, but many investment experts expect the volatility to subside in 2019, as institutional investors start entering the market. Some analysts believe bitcoin will re-emerge — like the proverbial Phoenix rising from the ashes — on back of momentum created by institutional investors, the Australian Financial Review reported. Read more.
Chinese Survey Finds Nearly 40% of Respondents Would Invest in Crypto: A Chinese survey of 4,200 respondents has shown that 40 percent are willing to invest in crypto in the future. PANews, whose Twitter describes the outlet a news source for sharing blockchain news across Asia, conducted the survey. Read more.
