Crypto News Round-up October 2

PIRACY

You can Now Earn TRON for Seeding Pirated Movies

You can now earn crypto for seeding those pirate movie files on BitTorrent. The popular, spyware infected Torrent Client was acquired by TRON two months ago as the foundation platform for its content sharing network. TRON has announced that users storing and sharing files will be reward with TRX. BitTorrent will remain free to use.

ADOPTION

Five Barriers to Blockchain

Big Four accounting firm Deloitte has outlined five issues that need to be addressed for blockchain to reach mass adoption. The basics: blockchains need to operate faster, a series of standards need to be developed, the tech needs to become cheaper and less complex, regulatory uncertainty needs to be fixed and blockchain firms need to collaborate more.

ICO

Most ICOs Have Profited Off Selling ETH

According to BitMEX Research, despite the massive drops in cryptocurrency prices from over $1,400 to below $200 in seven months, ICO projects on average have not taken such a huge hit. Some projects seem to have converted their funds raised in their ICO from cryptocurrency to fiat currency which has softened the blow.

PAYMENT

Ripple Officially Launches XRP-Based Payment Solution xRapid

Ripple CEO Brad Garlinghouse officially announced that its real-time settlement platform xRapid is now available for commercial use. xRapid is designed to speed up international payments, making cross-border transactions faster and cheaper compared to traditional methods.

LEGALITY

ETH is Protected under Chinese Property Law

In a recent unfair enrichment case in China, a technology company refused to return 20 ETH (about $4,600) to an ICO investor. The defendant claimed cryptocurrencies like ETH weren’t recognized nor permitted in China. The Court considered that Ethereum and other virtual currencies are protected by law as property although they can’t be considered as money.