Weekly Updates: Latest Crypto News (April 16 — April 22)
Brand new blockchain solutions and platforms as well as important steps in cryptocurrency regulation. Read TEOZ Weekly Updates for more fresh information.
Stay tuned!
- Amazon patented the solution in the streaming data marketplace on the basis of blockchain technology
Amazon Technologies, a division of the giant Amazon, whose capitalization is over $ 700 billion, patents a solution based on blockchain technology. The patent seeks to monetize the relationship between producers of different data and their consumers. Developers will be able to create toolbars from streaming data, generate alerts, issue recommendations and embed data into business processes. The scope of application is very wide, ranging from the sale of sales recommendations and ending with the sale of data on the social activity of users. Working with arrays of data is one of the many ICO ideas at the moment. And we see that this market is interesting not only for young start-ups but for already established companies. The activity of giants in the field of blockchain technology once again confirms that this industry will develop further.
Source: https://goo.gl/bc4tEm
2. Huawei to launch a blockchain platform
Chinese telecommunication giant Huawei is going to launch BaaS (Blockchain-as-a-Service) platform. The service will be based on Hyperledger Fabric 1.0. Developers will be able, in a more simplified interface, to create projects based on smart contracts, tokenize various assets and use other capabilities of blockchain technology. This technology is now used not only by “chosen” individuals. Huge companies are trying to create a more convenient shell for its use by ordinary developers. Technology is stepping into the masses. This process began relatively long ago, but only now we begin to observe some practical solutions. Recall that Huawei is a member of the Hyperledger consortium since 2016. It is also important to note that the platform will be open. In the near future, we will be able to see a number of blockchain decisions based on open data.
Source: https://www.coindesk.com/huawei-unveils-hyperledger-based-blockchain-service-platform/
3. The decentralized exchange for NEO is launched
Last week, the decentralized exchange NEO Switcheo began trading. The exchange has an internal token, which since the ICO has grown already 5 times in USD. Trading on the exchange started quite actively, the trading volume reached $ 2 million in 24 hours. At the moment, trades are conducted to three currencies — NEO, GAS, SWH. A total of 11 currency pairs are available, they are expected to increase in the near future. Also, we remind that the second NEO-exchange is approaching: https://neonexchange.org/ The development of NEO infrastructure will contribute to the growth of NEO and the increase in the number of projects on the NEO platform. The analytical department of Teoz Fund already considers NEO as a reserve currency, which must necessarily be in the portfolio of each investor. On April 22, 2018, NEO occupies 11% of the Teoz Fund portfolio.
Exchange website: https://switcheo.network/
News on market regulation:
- The European Union stands for closer cryptocurrency regulation
Members of the European Parliament voted for EU reforms in the field of money laundering and terrorism financing. A separate item here is cryptocurrency. A closer regulation of the industry is expected, namely:
- Identification of users of wallets and crypto exchanges;
- Reduction of the threshold on anonymous prepaid cards from €250 to €150;
- Under certain circumstances, a procedure can be made to determine the origin of cryptocurrency assets.
The drafted reform directive will be published in the Official Journal of the European Union and will come into force three days after publication. Then, EU member states will be given 18 months to apply the rules in their countries.
Source: https://goo.gl/iq2QVx
2. Investors and regulators are trying to find a common language in the US
According to unconfirmed information, a meeting was held in March between large cryptocurrency investors and regulators. Andreessen Horowitz and Union Square Ventures discussed regulatory issues with SEC officials. Investors said that restrictions will act as a deterrent to the development of the entire industry. Due to the blockchain globalization, companies can register in other jurisdictions if they are hampered by local regulatory bodies. However, investors do not object to the SEC’s involvement in fraudulent ICOs. Regulators do not promise broad benefits but are ready to make advances for the industry in certain conditions. For example, companies should limit the sale of tokens to individual investors. In general, we once again see an attempt to find a balance between technological progress and reasonable regulation.
The TOP-10 cryptocurrencies this week
All the cryptocurrencies show steady growth. The leader of the week is Bitcoin Cash, demonstrating an increase of 55.59%. NEO shows the smallest grows by 3.95%. Bitcoin growth rate is also modest (5.22%). The week can be safely called the week of altcoins.
The Teoz fund’s Token increased from $ 1.87 to $2.15 (+ 14,97%).
Russian version: https://goo.gl/VKzDmF
TEOZ fund is an index fund created by financial market professionals with an in-depth understanding of the crypto industry and an underlying blockchain technology.
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