Headlines for the world of Cryptocurrencies - August 03, 2018
Australia Investing In Crypto To Promote Tourism
Queensland, an Australian province, is said to be issuing a grant to a cryptocurrency startup company that will help promote tourism in the region.
The grant was part of over $8.3 million of innovation funding called the Advance Queensland Ignite Ideas Funding, which is said to support entrepreneurs to develop their businesses in the said region.
One of this is TravelbyBit digital currency payment platform for the travel and tourism industry.
The main aim of the company is to boost tourism in Central Queensland through selling travel offers with cryptocurrencies.
This means more revenues in the businesses in the area and may help in creating more jobs.
Caleb Yeohm, Co-founder and CEO of TravelbyBit reveals that they have already partnered with Brisbane Airport Corporation to launch the world’s first digital currency airport and have already a Point-of-sale system that is powered by the blockchain that will enable merchants to accept Bitcoin, Litecoin, Dash, Ethereum, New Economy Money and soon Binance Coin.
Cardano Blockchain Smart Contract “IELE” Testnet Released
The IOHK Foundation have recently announced the release of Cardano’s second Testnet, the IELE virtual machine (VM) smart contract update.
The said launch commenced a couple of days ago on July 30, 2018 which was published on its official website.
With its release developers can now test “IELE” for bugs and other issues that might arise during the testing phase.
IOHK believes that the release is an essential step in making a reality its promises on offering a robust and reliable financial infrastructure.
The update was said to be a collaborative effort between IOHK and Runtime Verification, a global research body in which they provided funding and technical expertise respectively.
The premise of IELE is to provide an easy-to-use platform for developers that will enable them to develop transparent, efficient and accessible Dapps for global markets.
It was also revealed by IOHK that Python, Javascript and other languages will be integrated into the platform making it easier for developers to deploy smartcontracts on everyday applications.
Coinbase Adds GBP On Its Platform
One of the world’s biggest cryptocurrency, Coinbase has announced last Wednesday that it will start providing deposits and withdrawals denominated in British Pound (GBP).
Coinbase U.K. chief executive Zeesshan Feroz said the customers can now deposit and withdraw GBP from the platform which will be processed the same-day.
This replaces the old method by which customers had to convert first to Euros then convert them to GBP which took several days to accomplish.
Aside from providing more speed and convenience to UK clients it also reduces cost of transactions.
The new system has already been rolled out to several customer accounts and will be fully available in the coming weeks.
This is indeed a great new service of UK residence as they are able to enter and exit their positions more quickly.
Mr. Feroz also reveals that they plan to leverage the e-money license they have received by expanding its services in both the U.K. and The E.U.
An Institutional-Grade Crypto Derivatives Platform Receives $9 Million Investment From SBI
The Japanese financial giant SBI holdings is said to have invested in a Charlotte-based, U.S. digital marketplace architect, Clear Markets.
This investment will be used to fund creation of a cryptocurrency derivatives trading platform built for institutional investors.
It was also revealed that SBI was given minority ownership position in the company with its $9 million stake on the firm.
Once built, the derivative exchange would allow institutional investors to trade investments products tied to the price movement of cryptocurrencies.
Products may include, futures, options, and swaps, which allow institutions to hedge other positions that they may have in the cryptocurrency market to mitigate losses, lock in profit or reduce risk.
SBI is the first banking institution to directly launch a cryptocurrency exchange platform VCTRADE serving Japanese retail investors.
SBI has partnered with other U.S based startups such as Ripple and Kraken in which it participated in the funding rounds of both companies.
A Lacklustre Debut On Canadian Market By Galaxy Digital
The first day of trading of Crypto Bank Galaxy Digital was marred by falling prices on the Toronto Stock Exchange last Wednesday.
The stock opened at around C$2.75 under the ticker symbol of GLXY.
It price fell to C$1.97, although there were points in the day where it seems it was inching up it fell back to C$ 1.97 at the end of the day.
It was a 38% decline on the day and more than 60% decline from a C$5 private placement in January.
It was widely considered that the stock will be trading lower but its depreciation exceeds that of the digital assets market.
This might be a result of the release of Q2 loss amounting to $134 million.
Despite this Michael Novogratz kept a positive outlook about cryptocurrencies and the future of his venture.
He still believes that cryptocurrency capitalization will increase to $800 billion within 12 months.
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Headlines for the world of Cryptocurrencies - August 02, 2018Annual Ripple Conference Will Feature Former U.S. President Bill Clinton As Keynote / Northern Trust Aids Hedge Funds Dives Into Cryptocurrency Investment / BNY Mellon Vet to Head Coinbase Global Compliance Efforts / 88% of Cryptocurrency Exchanges Want Regulations / Binance Acquires Trust Wallet |
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Headlines for the world of Cryptocurrencies - August 01, 2018Ethereum Founder Wants To Prioritize Mass Adoption Rather Than Price Movement / Bitcoin Recovery Positive Sign After Winklevoss ETF Reapplication Rejection: Tom Lee / Gibraltar United Will Pay Its Players With Crypto / IBM Blockchain Platform For Banks And Financial Institutions / Crypto ETF Soon Says CEO Of Fatfish |
Headlines for the world of Cryptocurrencies - July 31, 2018Largest Cinema Chain In Thailand Accepting Cryptocurrencies / Spencer Bogart: Bitcoin Set To New Highs / Commonwealth Bank of Australia Uses Blockchain To Ship 17 Tons Of Almonds / Singapore Fintech Blockchain Remittance For Myanmar Migrant Workers / Crypto Sold Out In Iran As Its Fiat Currency Plunges |
It will support cryptoworld if Australia fulfill his promises .thats a positive sign for crypt investors.
There are already tons of new innovations happening in Australia with Sydney and Brisbane spearheading the movements. The only minor hurdle they had was the crypto tax problem last year but they were able to turn things around. Things are looking good for the land down under.