Weekly News Roundup (12/03/19)
Welcome to our Snowball cryptocurrency media digest. Here we will provide you with regular updates on trending news from the blockchain and crypto space.
This week in crypto:
‘Nothing Is Above Bitcoin, No CBDC, No Stablecoins,’ Says Blockstream CEO Adam Back: Blockstream CEO Adam Back stated that for him, nothing is above Bitcoin, not even stablecoins or other coins issued by central banks. Adam Back invented the hashcash proof of work system and was one of the first people to work with Bitcoin. Read more.
HSBC Moves $20 Billion From Paper to Blockchain In One Of The Biggest Financial Deployments: HSBC, one of the largest banking and financial services organizations in the world, is planning on making a bold $20 billion step. The bank will be shifting $20 billion worth of assets to a new blockchain-based custody platform by March. This is a vast improvement of the previous system as the HSBC platform will digitize paper-based records of private placements. Read more.
64% of Bitcoin has not moved since 2018: Of the roughly 18.08 million Bitcoins which have been mined, 11.58 million — or 64% of the supply — has stayed in the same wallet since 2018. The figure is striking as, during that time, BTC/USD expanded from $3,100 last December to 2019 highs of $13,800 just six months later. Read more
Deutsche Bank Stance on Crypto: German banks seem to be spearheading the charge for mass adoption of cryptocurrencies by offering custody services for crypto. Read more.
