Cryptocurrency Revolution On The Horizon

The CEO of Bakkt, Kelly Loeffer predicts that her company will deliver a revolution in the nascent cryptocurrency sector similar to what ICE, the mother company of Bakkt, did for the energy trading more than 15 years ago.

She states that the digital market is fragmented like the energy market in the early 2000s and ICE was instrumental to attracting more institution to trade in the energy sector which she said resulted to the creation of its present liquid market.

With the platforms set to launch next month, she states that we are about to see a revolution on the same scale in cryptocurrencies.

Bakkt intends to avoid unpopular leveraged and non-custodial trading products for its increasingly broad institutional investor base.

This is to soothe concerns from the cryptocurrency community that lack of physical interaction with bitcoin would ultimately damage itself and impair its chances of success.

With its release next month ICE will now compete with offerings from Wall Street stalwarts Morgan Stanley, Citigroup, and Goldman Sachs who are currently active in the said sector.

Ripple Talking With Trump's Administration

The new Chief Market Strategist at Ripple, Cory Johnson admitted that a division from their company is in regular discussions with Trump’s administration.

He reveals that the White house is concerned that a big majority of Bitcoin and Ether mining is taking place in China.

In contrast, XRP has no mining which makes it a very different beast from a foreign-control aspect or from an environmental aspect.

The contact between the administration and Ripple’s division Johnson commented happens in high frequency, stating that a whole Ripple team hold regular talks throughout Washington, meeting regulators as well as politicians.

This interaction with the government not only takes place in the US but they do this worldwide.

When asked about Ripple and SEC, Johnson highlighted out the fact that a conclusion is not guaranteed whether the commission will name XRP a security or not.

He adds that he finds it surprising that there is still confusion between Ripple the company and XRP token.

He states that you can buy all the ripple in the world but that does not give you the right to a dime in Ripple’s profit.

Ripple does not control XRP.

XRP is decentralized in a way that Ripple cannot control it.

Binance Launches Fiat-Crypto Exchange In Uganda

The largest cryptocurrency exchange by market trading volume, Binance has recently announced that its fiat-to-crypto exchange will open in Uganda this week.

Changpeng Zhao (CZ) revealed the initiative several months ago in an interview with an online crypto news outlet.

Binance Uganda states that it will start accepting deposits and withdrawals of Ugandan shillings (UGX) on October 17, 2018.

It has also been revealed that the exchange has already begun processing know-your-customer (KYC) documents.

Currently the national fiat currency of Uganda can be traded only with bitcoin and Ethereum but has expressed expansion of trading pairs in the future.

This is not the first time Binance has opened fiat-to-crypto exchange, last August it opened Binance LCX in Liechntenstein with trading pairs for Swiss Francs (CHF) and Euros (EUR) against major digital currencies.

In September, it opened fiat-to-crypto exchange in Singapore with presumably Singapore Dollar.

Binance Uganda is however the first Binance fiat-to-crypto exchange in the continent of Africa.

New High On Bitcoin Trading Volume In Venezuela

According to Coin Dance, a website that monitors the LocalBitcoin transaction volume of Countries has recently revealed that bitcoin worth nearly 900 million bolivars have been traded so far this week in Venezuela.

This is a new record high for the South American country as it experiences unprecedented hyperinflation and worsening economic crisis.

The increase of bitcoin trading volume is coming less than three weeks before the launch of the public sale of Venezuela’s state-backed cryptocurrency, the Petro.

The Petro is available for public sale on November 5, 2018.

The state-backed crypto can be purchased with Bitcoins, Ethereum, Dollars or Euros.

To stimulate the adoption rate of Petro in the country, the government earlier mandated that all passport fees be paid using the state-backed cryptocurrency.

Slovenia Home To World’s First Bitcoin City

Slovenia boasts a significant number of startup companies specializing in the latest technologies including blockchain.

In fact it has recently been titled the “Silicon Valley of Europe.”

They are very advanced in new technological adoption that people in the capital does not find it unusual in spending a day at crypto mall 'Bitcoin City', which represents itself as the very first entertainment ecosystem based on the newest technologies.

It is the result of fruitful collaboration between BTC City, one of the biggest Central European shopping business and logistics centers and Eligma, a startup specializing in smart commerce solutions.

Bitcoin City leverages blockchain technology to provide the highest level of security and offer a wide variety of payments options including cryptocurrencies.

The Eligma team has developed Elipay, which allows users to pay with crypto.

The Elipay payment system consist of a mobile application and POS solution for merchants.

The app is available for download for Android and iOS and supports Bitcoin,Bitcoin Cash and Ether. Additional cryptos will be added in the future.

Customers using the app will be able to spend the supported cryptocurrencies and the merchants will be able to accept crypto that is immediately converted to fiat.

GCOX Of Singapore To Launch Manny Pacquio’s Crypto

Global Crypto Offering Exchange (GCOX) is a blockchain-powered platform where celebrities can tokenize their popularity.

The start-up of the same name has various platforms build on its own Acclaim Blockchain, such as celeb-charity and Cele-connect.

The platform was designed for close interaction between celebrities and their fans.

Philippines boxing legend Manny Pacquio has signed up with the GCOX platform in March 2018.

Other celebrities signed up as well including Michael Owen and Jason Derulo.

The celebrity exchange plans to launch “Pac Tokens” in the last month of this year or first quarter of 2019.

This coincides with the expected release of Philippine SEC official regulations on Initial Coin offering.

The celebrity token ecosystem built on the Acclaim blockchain uses the Acclaim Token (ACM) as its base currency.

Since the tokens are restricted to each celebrity’s framework, fans can use ACM as medium of exchange between different celebrity frameworks.

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