Ether futures contract coming soon, more Bitfinex drama, PepsiCo tries out blockchain
Ethereum Futures Contract
The US Commodity Futures Trading Commission (CFTC), an independent agency that regulates futures and option markets, may soon approve an Ethereum (ETH) futures contract, according to an anonymous senior official familiar with the matter.
On Dec. 1, 2017, the agency gave the green light to bitcoin futures markets to launch on both the CME Group and the Cboe Global Exchange. Now the CFTC could be willing to oversee a similar product for ether.
The official explained:
“I think we can get comfortable with an ether derivative being under our jurisdiction. We don’t do bold pronouncements, what we do is we look at applications before us. A derivatives exchange comes to us and says ‘we want to launch this particular product.’ … If they came to us with a particular derivative that met our requirements, I think that there’s a good chance that it would be [allowed to be] self-certified by us.”The only way the regulator would respond positively to a specific application is if it is submitted in a manner that is compliant with the appropriate regulatory guidelines. If proposed and approved, the ETH futures contracts will be accessible to a wide range of institutional investors.
Bitfinex Continues to Lead the News
Reggie Fowler, the former owner of the Minnesota Vikings, was supposedly involved in processing unregulated transactions on behalf of Bitfinex.A statement put up by the US Department of Justice details that:
"Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency exchanges. Their organization allegedly skirted the anti-money laundering safeguards required of licensed institutions that ensure the U.S. financial system is not used for criminal purposes, and did so through lies and deceit."Mr. Fowler has now been charged with bank fraud, as well as operating an unlicensed money transmitting business.
Pepsi on the Blockchain
PepsiCo, an American multinational food, snack, and beverage corporation, has conducted a trial to determine whether blockchain technology could address industry challenges in the automated buying and selling of online advertising space, which brought a 28 percent boost in supply chain efficiency.PepsiCo’s project partner and media agency Mindshare announced that the trial was performed using Zilliqa’s blockchain platform, which automated various supply chain processes.
According to Mindshare, the results demonstrated a higher efficiency when implementng the process using smart contracts - in terms of costs for viewable impressions against one without.
“These smart contracts reconcile impressions that are delivered from multiple data sources with payments facilitated using an internal Native Alliance Token (NAT) all in near real time, resulting in major efficiency gains and complete transparency for the brand owners.”Farida Shakhshir, PepsiCo’s director of consumer engagement for the Asia, Middle East and North Africa regions, also emphasized:
“The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact."Read More:
- CoinMarketCap says goodbye to Bitfinex’s Bitcoin price
- DeVere Group: two-thirds of millionaires to invest in crypto by 2022
- Fidelity goes all in crypto, Bitfinex to launch an IEO, how to Win 1 BTC
Originally posted on Crypto Insider : https://cryptoinsider.com/ether-futures-contract-coming-soon-more-bitfinex-drama-pepsico-tries-out-blockchain/