Bitcoin Probe A Good Thing

Mike Novogratz a billionaire investor and former hedge fund manager thinks that generally the probe of the US Department of Justice (DOJ) on allegations that prices of bitcoin price manipulation will be good in the long run for cryptocurrencies at large.

He also said that he move of DOJ will help weed out bad actors in this relatively new ecosystem.

He also claims that there are a lot of exchange that are inflating their volume numbers to create a false sense of increasing demand and excitement around cryptocurrencies they support.

This statement is shared by most cryptocurrency wall street traders.

American Express Revamps Reward Program With Blockchain Technology

The American card company, American Express has launched hyperledger’s Blockchain technology to revamp its existing loyalty program in its bid to make it more versatile.

This makes it the first U.S. financial services company to have a loyalty program based on Blockchain technology.

As a pilot promotion for the Membership Rewards the card company is partnering with Boxed, an online wholesale retailer in which American Express will initially provide rewards points for Cheerios cereal, Planters nuts, Dove Soap and other items.

It plans to roll out the program to all its merchant partners in the coming months.

More Americans Will Be Interested With Bitcoin If Fed Relaxes Post-2008 Measures

In a study that Weiss Rating released recently said that more Americans is likely to turn to cryptocurrency and move away from traditional finance if the Fed will consider watering down the “Vlocker Rule.”

By relaxing the said regulation would allow thousands of banks to make higher risk but higher reward trades with less government oversight.

If this happens many investors will view cryptocurrencies as safe depository. It added that banks are lobbying for more freedom to trade speculative assets such as derivatives whose ownership is extremely centralized.

Unilever-Owned Company Starts Accepting Bitcoins As Payment

Schmidt’s Naturals is a Unilever-owned company that is engaged in making deodorant which has recently allowed their customers to purchase their products using cryptocurrencies.

The payment option was only launched May 14 and has seen gaining 5%-10% of its online sales.

Co-founder and CEO of Schmidt’s Naturals, Michael Cammarata, claims that his company was not surprised at all if most of their tech savvy customers asked to pay for their products with bitcoin.

The company is using Bitpay as its main payment processor that is also found in Shopify and mobile games provider Zynga.

The CEO also said that when it comes to scents and payment options they are highly engaged with what their customers wants

The Largest Bank IN RUSSIA Pilots First Official ICO

Russian bank Sberbank CIB and the National Settlement Depository (NRD) will pilot the country’s first official initial coin offering (ICO).

The two government branches are finalizing with the central bank to launch the ICO by the end of summer 2018.

The ICO funds will be used to launch a new tokenized online services by a company that runs the largest commercial lecture hall in Moscow, Level One.

The project’s token will only use ruble and be open exclusively to qualified investors.

This initiative is widely viewed as a real experience of understanding the legal side of the future implementation of digital tokens and Blockchain.

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