Enter, Samsung
Bitcoin goes Galactic!
Big news this week, as Samsung announces the inclusion of a native Bitcoin wallet in their upcoming Galaxy S10. It will reportedly also support ERC20 and select dApps.
Adoption!
And this customer-centric innovation comes at a crucial time for Samsung.
Both smartphone giants Apple and Samsung were shown to have stalling sales according to a recent report by Gartner, with China’s Huawei shortening the gap.
It’s no surprise that customers are increasingly resistant to the high price points demanded by the dominant providers, particularly in the Chinese market. Given the Chinese government’s unilateral stance against Bitcoin and cryptocurrency, its unlikely that Huawei will be unrolling its own native wallet any time soon.
But adoption rolls forward in the West, and we’re all for it!
Soon we’ll be bringing our Galaxy S10s right to St. Laurent for a quick exchange… (Check it out, it’s a new YAP ATM!)
Cryptocurrencies moved higher this week, with bitcoin breaking above the 4,200 USD market before falling back on Sunday morning. The move followed a February 21st report from CME group highlightingrecord futures trading volume on February 19th, with over 18,000 contracts traded. Though Sunday’s selloff could weaken sentiment, mounting bullish news, including imminent supportive regulation in Russia and greater institutional interest could pave the way for another rally in the near term.
—
BTC 6 Month Chart
(Coindesk)
Today — 4992.88 CAD
One week ago — 5104.12 CAD
One month ago — 4675.28 CAD
Six months ago — 8815.34 CAD
—
Bitcoin bull blasts Warren Buffet. Well-known bitcoin bull Max Keiser issued a public response to Berkshire Hathaway’s Warren Buffet following a recent letter to shareholders covering some of the company’s holdings. Keiser took particular interest in how Buffet explained the attractiveness of some of Berkshire Hathaway’s primary holdings due to recent stock buybacks. Keiser went on to note that ‘traditional’ stock market investing is becoming increasingly risky, stating that, “It’s pure fraud. Its sole purpose is to commit accounting fraud for the benefit of insiders.” Keiser went on to say that, “The real story is to put gold in context and understand that Buffett’s so-called success is entirely driven by a cozy relationship with Wall Street and the Fed that gives him virtually unlimited access to credit carrying zero percent interest.”
Canadian banks wary of QuadrigaCX. The controversial QuadrigaCX exchange is back in the news once again, with a Nova Scotia judge issuing an order for the eventual disbursement of more than $30 million that belonged to the insolvent QuadrigaCX cryptocurrency exchange. Elizabeth Pillon, a lawyer representing Ernst and Young, highlighted some of the banks’ concerns, including the hesitation for handling money from the cryptocurrency world, suggesting that funds from uncertain origins could present a significant risk for banks. “We don’t have the source-of-funds information that the banks are looking for,” she said. “The monitor has serious concerns about finding another institution to hold these funds.”
Japanese bank pushes forward on cryptocurrency. The Mizuho Financial Group, which runs Japan’s second-largest bank (Mizuho Bank), has developed a smartphone app that allows customers to pay for transactions at a wide array of Japanese retail stores with J Coin, a forthcoming cryptocurrency to be launched by the bank. “It looks like Mizuho is aiming to win the race to become the first Japanese megabank to get its stablecoin into circulation. By all accounts, the bank wants to ensure its tokens are accepted at all the major shopping hotspots popular with Chinese tourists,” Hiroyuki Yamamoto, a Tokyo-based banking consultant, told Cryptonews.com.
NEO co-founder sees promise in latest blockchain developments. During NEO’s DevCon 2019 event, co-founder Da Hongfei outlined new developments in the NEO blockchain and how they will impact the next stage of economics. Hongfei explained that blockchain and distributed ledger technology will play a major role in the new smart economy. He also noted that the new global economic system will likely to be more decentralized.
Brazilian bank to launch security token offering. Brazilian investment bank Banco BTG Pactual has announced plans to launch a security token offering to raise up to $15 million, The offering will allow investors to take stake in the Brazilian real estate market and, based on the performance of the tied assets, receive periodic profits. The bank is partnering with the Winklevoss twins’ Gemini Trust Company, LLC in order to utilize U.S.-regulated stablecoin Gemini Coin to receive capital and distribute dividends. Gemini CEO Tyler Winklevoss explained, “The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction.”
