EOS vulnerability + ETH dump. VISA network disruption. $1bn venture capital fund. - Weekly Recap 4 June

in bitcoin •  last year 

The Bank of England has released a working paper which suggests that the adoption of central bank digital currencies could disrupt commercial banks.

EOS is patching a major vulnerability just days before completing a year long ICO which has raised nearly $4bn USD.

After completing it’s ICO, EOS has allegedly dumped $120m worth of Ethereum onto cryptocurrency exchange Bitfinex, causing the ETH/BTC price to drop -8%. This raises interesting questions because EOS raised capital in ETH in order to build a competitor to ETH. Believers in EOS are effectively betting against ETH when participating in the ICO.

Port of Brisbane has become the first Australian port to launch a supply chain blockchain.

A group of top-tier Chinese universities are planning to build a decentralized autonomous organisation (DAO) to make educational resources more accessible and affordable.

Binance, one of the world’s largest cryptocurrency exchanges, has launched a $1bn venture capital fund. The money will be used to incubate blockchain projects.

The Visa network disruption is a great reminder that the world needs a decentralised payment network without private servers or single points of failure. Bitcoin has almost a 10 year track record and is in prime position to challenge Visa’s centralised service.

Cryptocurrency exchange Huobi has partnered with Chinese and South Korean firms to launch a $93m China-South Korea investment fund.

Streamlabs + Coinbase are bringing crypto-tips to popular streaming sites like Twitch and Youtube.

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