CBOE Bitcoin ETF By 2019?

There have been several attempts in the past to apply for a Bitcoin ETF, unfortunately time and again it has failed to convince the US SEC to approve it.

However the latest attempt of CBOE Global Markets may have the best chance of getting approved.

Their application was filed last June 26 which details a partnership with Van Eck Investment and SolidX.

The SEC now is asking for public comments about the initiative where cboe plans to offer clients to buy shares in SolidX which cost around 25 BTC in which the fund itself will be acquire BTC through an OTC.

When approved we can see Bitcoin ETF being offered by CBOE in Q1 of 2019. Hopes are high that this attempt will succeed as it is a merger of two big names in the ETF space (both of which solo applications were denied) and it is the fifth Bitcoin ETF application so far... plus CBOE is pushing to list it.

The Director of Corporate Finance, William Hinman has gone into record last month saying Bitcoin, Ether and decentralized cryptocurrencies will not be classified as securities.

Crypto Might Be The Future Of Mainstream Payments

In a joint study by Imperial College and UK-based trading platform E-toro, it was revealed that cryptocurrencies like Bitcoin have the potential of replacing the fiat as the mainstream means of payment, as it has already met one of three main criteria of money.

The study titled “Cryptocurrencies: Overcoming barriers to Trust and Adoption” states that cryptocurrencies are already fulfilling one of three fundamental principles of fiat money as a store of value.

Two other criteria has to be met to be at par with fiat money that is as a medium of exchange and as a unit of account.

To be able to do this they must solve six major challenges: scalability, usability, regulations, volatility, incentives and privacy.

The study also emphasizes that this may not happen overnight citing email which was first used in 1971 becoming commonplace only after 30 years.

Benson Oak To Finance Israeli Blockchain Startups

A Czech Republic-based investment banking firm Benson Oak has announced the creation of Benson Oak Ventures which is said to be an initiative to help Israeli blockchain project initiatives.

Although it was not yet clear during press time when and how the funds will be delivered, it is a good sign for the Israeli blockchain scene.

There have been many ways by which Israel has been impacting blockchain and cryptocurrencies. A prime example of such is Bancor which is a Israeli blockchain/crypto initiative which has won first place at an international blockchain competition.

Earlier this year the Israel Bank Hapoalim was said to be collaborating with Israeli Aerospace industry to look into blockchain solutions to improve security in the banking sector.

The Benson Oak Ventures has already secured around $25 million and is said to be looking for another $75 million elsewhere.

Patent-Pending Blockchain-Based Delivery Management System By Walmart

In a new patent filing by retail giant Walmart, it wants to introduce a new secure delivery management system that leverages the power of blockchain.

The patent application was filed last July 5 in the U.S. Patent and Trademark Office (USPTO).

The purpose of the said system enables the user to use blockchain-based management system for delivery lockers which will secure the delivery items safe until the recipients receive their item.

The patent describes a blockchain reservation system in which the system can track lockers and monitor available resources that can consummate the delivery transactions.

The system will use a distributed ledger (Blockchain) which records and stores pertinent information for the delivery that can be extracted when needed.

Walmart has been actively filling blockchain technology patents for its business such as IP filing patents in supply-chain related technologies and blockchain-powered Medical Records for patients.

First Batch Of Crypto Startups Join Regulatory Sandbox of UK Watchdog

UK’s Financial Conduct Authority (FCA) have chosen 11 blockchain and distributed ledger technology (DLT) related companies out of the total 29 companies accepted, giving them almost 40% stake in participation in its regulatory sandbox.

This gives blockchain and DLT a higher level of legitimacy and validity as it is the first time a U.K.’s financial regulator directly recognizing the potential of blockchain initiatives.

The regulator reveals that they have around 69 applicants in total which means more than half did not make it.

Most notable among the applicants is 20|30 which is one of the 11 blockchain firms that will be partnering with the London Stock Exchange Group and Nivaura, a London-based financial service company.

They plan to streamline the processes on how companies can raise capital making it more efficient and cost effective.

The regulatory sandbox was launched two years ago with the goal of testing initiatives in a controlled environment monitored by FCA.

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