ICOs are Worth 45% of IPOs In Q2 2018

The 3-year old cryptocurrency capital market is currently challenging the supremacy of traditional capital markets.

To put this in perspective, in the second quarter of 2018, new capital raised by ICOs is equivalent to 45% of the amount raised in Initial Public Offerings. 5
Leading investment banks are rather slow in adopting or leveraging the burgeoning cryptocurrency capital markets and may lose their customers to it in the long run.

ICO has been the preference for issuers for the simple fact that they can raise money more cheaply via the ICO market compared to the traditional capital markets.

Moreover ICO investors come from all over the world which means they have a broader group of investors.

ICO investors on the other hand have showed willingness to invest on projects without the protection of covenants and preference in exchange for low friction cost.

South Korea Targeting Blockchain As Part Of $4.4 Billion Domestic Investment Plans For 2019

A local news outlet in South Korea has revealed a plan by the government to nurture eight sectors of the domestic economy.

It plans to do this by investing about 5 trillion won, which translates to about $4.4billion USD by the year 2019. Blockchain is one of these sectors.

The government, specifically the Finance Ministry has decided to increase by 65% the budget it will spend on blockchain, big data and artificial intelligence next year.

It hopes that by increasing the budgets on the said sectors it will be able to accelerate development and innovative growth.

The Finance mister, Kim Dong-yeon also revealed that over the next five years budget could increase to 10 trillion won double of the one proposed for next year.

More details about this news here: Yonhap News

South Korean Island To Be Blockchain And Crypto Haven

The South Korean Island of Jeju is poised to become a crypto and blockchain hub with the possibility of influx of government funds into its island.

The governor of the island, Governor Won Hee-ryong have requested the central government to allow the island to become a special zone for the development of cryptocurrency and its underlying technology blockchain.

The governor made the request during a meeting with high-ranking government officials and policymakers, including Kim Dong-yeon the finance minister and deputy prime minister for the economy.

According to sources the governor of the island proposed that the central government together with private experts and provincial government of Jeju Island form a consortium of specialist to find ways how to realize there goal of being a crypto and blockchain hub.

China’s Three Year Action Plan For IT and Blockchain Consumption Growth

China has released a three year action plan explaining how it plans to stimulate the growth of blockchain and fintech information use.

This was released by the Chinese National Development Commission (NDC) and the Ministry of Industry and Information Technology (MIIT).

The action plan has four main components: information services, new information technology supplies, improvement of information technology’s business environment and consumption willingness building.

In order to accomplish this China is looking to roll-out a 4G network to as much as 98% of All Chinese villages.

It was also revealed in the document that the government targets $46.5 billion on IT-related consumption with a sustained 11% average annual growth by 2020.

Turkey Cryptocurrency Demand Could Spur Market Recovery

In just less than a week the cryptocurrency market lost about $43 billion. In fact it has lost more than $8 billion over the weekend alone.

Despite the influx of $50 Million worth of USDT that many feel will help stabilize Bitcoin prices, which did for a very short while, total market capitalization continued to spiral down.

In another development, the economic crisis in Turkey might offer new opportunities for increase in Bitcoin and cryptocurrency enthusiasm.

As the economic crisis worsens many people in Turkey are turning to cryptocurrencies as they seem to be a better alternative despite its volatile nature.

This only shows that despite the risk associated with digital assets due to its volatile nature it has been a common refuge for citizens around the world as a better store value alternative.

Headlines for the world of Cryptocurrencies - August 14, 2018 Famous Author Robert Kiyosaki Bullish On Bitcoin / Stablecoins Gaining Ground In India / Crypto Hedge Funds Growing Fast / Decentralized Exchanges Will Eliminate Fake Volumes According To Experts / Trusted Computing For Boosting Blockchain Security
Headlines for the world of Cryptocurrencies - August 13, 2018 $18 Billion Bitmain IPO Will Initiate FOMO / Over 1M Trades In BitMex For The 2nd Time / Gubernatorial Candidate Wants To Bring Blockchain To Colorado / Every Portfolio Should Include Crypto According To Yale Economist / Tron Foundation Acquires Blockchain.org
Headlines for the world of Cryptocurrencies - August 12, 2018 IBM And Maersk Launches TradeLens / 50% Americans Willing To Try Out Bitcoin According To New Survey / Facebook Interest In Blockchain Gaining Traction / Bitcoin Premium In Brazil / Bitmain Eyeing $18 Billion IPO