CEO Reveals More Detail On Bakkt Crypto Platform

Bakkt, a new cryptocurrency exchange made headlines when it reveals its corporate partners which include BGC, Microsoft, Startbucks and Intercontinental Exchange (ICE), the parent company of New York Stock Exchange.

This new exchange plans to offer professional institutional grade cryptocurrency exchange platform that said to be a scalable on-ramp for institutional merchant and costumer participation.

The platform is said to be set to launch on November this year if it gets approval from the US Commodities and Futures Trading Commission (CFTC).

In a blog-post Bakkt’s CEO, Kelly Loeffer reveals that the bakkt is setting a new standard for cryptocurrency exchanges including consistent regulatory framework transparent efficient price discovery and an institutional quality pre- and post- trade infrastructure.

Despite the market downturn the CEO still has an optimistic view on cryptocurrencies citing reports that venture investing initial coin offerings, and corporate R&D related to blockchain and digital assets are all on track to surpass 2017 levels indicating a strong appetite for its market and technology.

CO-Founder Of Apple Involve In Blokchain Startup

Steve Wozniak, co-founder of Apple has recently announced that for the first time he will be directly involved in a blockchain project.

He made this revelation at the ChainXchange blockchain conference held in Las Vegas.

He reveals that the company’s approach is different from other projects that positions itself as a new form of currency or something that artificially pump prices through hype and FOMO but rather it is a share of stock in a company.

The said company according to Mr. Wozniak has been doing investments by investors with huge track records in good investments in things like apartment buildings in Dubai.

He goes on to explain his fascination of blockchain technology comparing it to the early days of the internet that he said very few were able to see its value initially.

Thai Central Bank Clears Air About High Profile Crypto Fraud

The Thai Central Bank has clarified its position involving what main stream media portrayed as a high profile cryptocurrency scam.

It said that the case of fraud did not involve cryptocurrency itself per se but misuse of money.

The case revolve around over 5,564 BTC investments and a very popular soap actor and model, Jiratpisit Jaravijit or more popularly known as “Boom.”

The Bank of Thailand (BOT) Governor, Mr. Veerathai Santiprabhob reveals that the fraud case is not about cryptocurrency trading and it is not dependent on using cryptocurrencies.

He also emphasized the elevated risk in investing in cryptocurrencies due to price volatility, reminding them they should understand the risk involved and to only invest in what they can afford to lose.

Bank Of China Partners With UnionPay

The Bank of China (BOC) has partnered with financial services firm China UnionPay (CUP) to jointly develop a blockchain-enabled payment system in response growing demand for and regulatory requirements on blockchain applications in the real economy.

This initiative would provide opportunities for cooperation between enterprises more particularly on cross-border settlements.

In the said partnership both entities will be able to continue to take advantage of their respective fields, actively participate in demonstration projects of mobile payment convenience, deepen cooperation in the field of mobile payment and to be able to provide smart, open and integrated digital financial platform for customers.

That being said the two financial services organization is also committed to jointly explore big data and distributed ledger technology deployment to improve digital banking products further.

Australians Can Now Pay Utility Bills with Cyptocurrencies

A cryptocurrency exchange Cointree has recently announced a joint-venture with billing platform Gobbil that will enable Australian customers to pay their utility bills with cryptocurrency.

With this partnership Gobbill will function as an intermediary in the exchange that will get funds from the users crypto holdings and converting them to fiat which will be used to make payments in fiat.

In using the Cointree wallet, users of the cryptocurrency exchange will be able to convert stored coins automatically into utility bill payments where in users can choose from BTC and about 40 other cryptocurrencies to make the payments.

CEO of Gobbill, Shendon Ewans describes its partnership with Cointree as getting ahead of the curve to leverage the ever growing users of cryptocurrencies.

Cointree on the other hand sees this an opportunity to increase customer base.

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