🗞 Daily Crypto News, February, 5th💰

in #bitcoin • 4 years ago (edited)

  • Iowa Caucus App Fiasco Shows Need for Open Source Transparency ;
  • What Is Going On With Jae Kwon and Cosmos? ;
  • Crypto Companies Adopt Features Similar to Banks (Only Better) to Drive Growth ;
  • Major Investment Force Awakens As Financial Advisors Warm Up To Bitcoin ;
  • Salesforce and Samsung Add to Earlier $35M Investment in Digital Asset ;
  • 🗞 Daily Crypto Calendar, February, 5th 💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Iowa Caucus App Fiasco Shows Need for Open Source Transparency

The Iowa caucuses were thrown into disarray as reports surfaced an opaque app used to tabulate the results and report them to Democratic Party officials was reporting only part of the required data. Although the app had been developed to improve efficiency in communicating the final caucus tallies, it ended up causing significant delays.

According to security experts, the incident served to highlight the risks of relying on digital systems and the centralization of information, and a lack of transparency regarding these systems.

On Tuesday morning, Iowa Democratic Party Chair Troy Price released a statement defending the caucus, saying the underlying data recorded was accurate and that due to paper records party officials were able to double-check the data.

Reporting issues were “due to a coding issue in the reporting system. This issue was identified and fixed. The application’s reporting issue did not impact the ability of precinct chairs to report data accurately.”

A 2019 report from Veramatrix, a software security company, said it is considered acceptable for there to be between 15 and 50 errors per 1,000 lines of code. The average app is comprised of 50,000 lines of code, which would translate to an industry-accepted average of 2,500 errors.

🗞 What Is Going On With Jae Kwon and Cosmos?

"If something should happen to me, be critical and share your opinions respectfully. But everything I’m doing is in fact making me a target," Jae Kwon, the main architect of the Cosmos protocol, wrote on Twitter on Jan. 21.

Kwon’s varied fixations have been a topic of conversation among crypto-community insiders. But it’s been much more than idle chatter for the staffers of the startup building the software that makes Cosmos work.

Internal tensions have begun to spill out into public view, precipitated by a story from Decrypt on Jan. 29 reporting Kwon was stepping down as CEO to focus on a new project.

A source with knowledge of the matter tells CoinDesk Kwon is not only the CEO of Tendermint (which is also known as All in Bits Inc.), he is also the sole board member. That means all the authority in a company that has backing from Bain Capital Ventures, Paradigm and 1confirmation rests in Kwon. Whether that’s still the case remains unknown.

🗞 Crypto Companies Adopt Features Similar to Banks (Only Better) to Drive Growth

Cryptocurrency exchange Deribit recently published an analysis explaining that cryptocurrency companies are racing to adopt financial services known from legacy finance.

The post points out that all crypto companies, exchanges included, will soon offer users interest accounts, cost-effective ways to perform transactions, and tax services. Throughout his post, he explains why these features, along with others, will become a standard offering for exchanges in the next 2 years.

Adoption is well underway

The crypto community is already seeing a number of companies adopt features that traditional financial institutions offer. The only difference is that many of these companies are making these features more appealing to their customers, in ways that banks cannot or will not..

🗞 Major Investment Force Awakens As Financial Advisors Warm Up To Bitcoin

It appears that traditional financial advisors - ”who manage roughly half of all wealth in America” - are becoming increasingly enthusiastic about digital assets, such as Bitcoin (BTC).

In a piece published on accounting firm EisnerAmper LLP’s website by New York-based financial advisor Dara Albright, a number of developments were highlighted to show how traditional finance is in the process of merging with digital assets.

“What about financial advisors and wealth managers,” Albright asked in the article while adding “are they ready to embrace digital assets and start recommending this novel asset class to their clientele?”

🗞 Salesforce and Samsung Add to Earlier $35M Investment in Digital Asset

Venture arms for Salesforce and Samsung participated in a second Series C funding event for a startup called Digital Asset.

After gathering $35 million in its first Series C raise that ended in December 2019, Digital Asset decided to run another round, a Feb. 4 press release read.

This second Series C funding attracted investment from Samsung Venture Investment Corporation and Salesforce Ventures, among others.

“Salesforce Ventures and Samsung joining our Series C financing round demonstrates the potential that technology giants see in DAML as the standard for smart contracts,” Digital Asset Co-Founder and CEO Yuvol Rooz said in the press release.

🗞 Daily Crypto News, February, 5th💰

  • Cardano (ADA), General Event (CRYPTO), Fetch.ai (FET), NEM (XEM), XRP (XRP)

"The Blockchain for Europe Summit will be organised on 5 February 2020 in Brussels, Belgium."

  • Ethereum Classic (ETC)

"#EthereumClassic Core Dev Call: ECIP-1078 Phoenix Upgrade on February 5th 2020"

  • EOS (EOS), LiquidApps (DAPP)

AMA session with Zack Gall, co-founder of Everything EOS and Community and Developer Relations Lead at LiquidApps.io, at 11 AM (EST).

  • Newscrypto (NWC)

"Newscrypto announces new telegram channel dedicated to all spanish speaking users. Available soon!"

  • Zcash (ZEC)

"Binance Futures will launch ZEC/USDT perpetual contract and trading opens on 2020/02/05 08:00 AM (UTC)."

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of my last analysis :

Here is the current chart :

We are having a little correction on the BTC but yeah, everything can happen, STEEM is staying very quiet and till now not following the BTC. It is good news for all of us and we must enjoy the momentum. So regarding an analysis for STEEM, we are in the middle of our support line at 0.155$ and the resistance line around 0.21$. So let's see what will be the direction of the next move on the STEEM. I expect a little correction if the BTC is continuing to drop but regarding a TA point of view, if we break the 0.18$, we could see a continuation of the UP.

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4 years ago in #bitcoin by
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     4 years ago 

    Very positive news about Steem! Thanks for your good work!

    Keep well and strong.

    Cheers!

    [-]
     4 years ago 

    STEEM has been on a roll lately ! Let's hope it continues my friend :D

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      [-]
       4 years ago 

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