Headlines for the world of Cryptocurrencies - August 01, 2018
Ethereum Founder Wants To Prioritize Mass Adoption Rather Than Price Movement
Vitalik Buterin once again expressed his sentiments about current market condition in the cryptosphere.
He believes that too much focus is given on ETFs rather than making cryptocurrency easier to use as a method of payment for everyday purchase via payment cards.
He believes that by making cryptocurrencies easier to use by ordinary people will spur mass adoption.
While this might as well bring mass adoption the same can also be said with cryptocurrency ETFs as it will also increase interest of cryptocurrencies.
Bitcoin Recovery Positive Sign After Winklevoss ETF Reapplication Rejection: Tom Lee
Thomas Lee, Fundstrat founder expressed his elation with the swift recovery of Bitcoin prices after a short correction which many believe as a reaction to the rejection of Winklevoss ETF reapplication.
Lee stated that the ability of Bitcoin to shrug off a major event and recover in price in a swift manner is a sign of a positive change in the cryptocurrency market.
Gibraltar United Will Pay Its Players With Crypto
A relatively new football club in a British overseas territory will make cryptocurrency history as the first football organization that will pay its players with cryptocurrencies. Gibraltar United will pay part of their player’s wages in a brand new crypto called Qantocoin.
It was reported that there are several factors why Pablo Dana, owner of the football club, decided to use cryptocurrency as part of wages.
One of these factors is the transparent nature of blockchain-based payment methods that could be useful in ending corruption in football. Another is the ease of use especially in cross-border transactions which is particularly useful for foreign players who are struggling to set up bank accounts in Gibraltar.
It is also important to note that Dana is an early investor in the Quantocoin project.
IBM Blockchain Platform For Banks And Financial Institutions
Information technology giant IBM has partnered with CLS, a foreign exchange market infrastructure firm to create LedgerConnect which is a proof of concept blockchain platform that was specially designed for the financial service sector.
The said platform aims to use blockchain technology in sanctions screening, KYC processes, collateral management and as well as port-trade processing.
By offering a single platform where Banks and financial institutions can implement blockchain-powered application without them having to build them ground-up will ensure interoperability which is a very important attribute for any blockchain-powered application especially in the banking and financial services industry.
The IBM blockchain platform will be in a single network and aims to be the all-in-one solution for all financial institutions.
Crypto ETF Soon Says CEO Of Fatfish
Kin-Wai Lau, the CEO of Fatfish Internet a global tech venture firm believes that a Bitcoin ETF will soon be a reality and global markets should be ready to accept a BTC ETF fairly soon, perhaps in a couple of months.
While many wants a Bitcoin ETF now it seems that the US SEC is taking their time to approve one.
The US SEC wants to take the slow route as it further studies how Bitcoin ETF proponents plan to address fraud and market manipulations.
Other pundits claim that a Bitcoin ETF this year is highly unlikely and we would probably see the first one next year when the US SEC has enough time to study the feasibility and security of the said investment instrument to investors.
It is important to note also that the Winklevoss Bitcoin ETF initiative is not the only Bitcoin ETF under consideration as there are other Bitcoin ETF applications which is widely considered to have a higher chance of getting approved.
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By use of mass adoption, the people will be more interested in cryptocurrency.
The decision To pay the football team through cryptocurrency is a positive sign and is appreciated.
I agree with you on that one. However, I haven't heard of Qantocoin yet. The event might be promotion for the coin. They could have used some mainstream payment cryptos like Bitcoin or BCH or DASH.
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