Coinbase Opens Ireland Office As Brexit Contingency Plan

As part of Coinbase’s contingency plan for Brexit, the San Francisco-based cryptocurrency exchange has opened a new office in Dublin, Ireland.

This was announced last Monday, October 15, 2018.

Brexit is the plan of United Kingdom to leave the European Union.

While the London office of Coinbase will remain the main office of the company in Europe, the Dublin team will take on a number of new business-related functions.

The Irish minister for Financial Services and Insurance Michae D’ARcy states that they are delighted that Coinbase is opening an office in Dublin.

He further adds that this decision highlitghts the competitive offering and attractiveness of Ireland for financial services which was affirmed by Coinbase’s U.K. CEO Zeeshan Feroz.

The U.K. Coinbase executive states that the company is looking to capitalize on the talent pool available in Ireland and will enable them to serve Europe Union customers if U.K. decides to leave the economic block.

E-Bike Utilizes Bitcoin’s Lightning Network For Payments

The Lightning Network has titillated the minds of cryptocurrency enthusiast and software community in the world to develop use cases for its micro-payments.

After the community witnessed the release of a Coke Vending Machine and a real Swiss Café using the lightning network, now a German hacker, Matthias Steinig have developed a lightning-powered e-bike.

The bike is described as a standard 28-inch gent model bike which has been retrofitted with an electronic conversion kit.

A battery powers the e-bike’s Rasberry Pi controller with an e-link display to keep the power consumption low.

When users want to use the e-bike they have 60 seconds to scan the QR code and pay with their Lightning mobile App.

After payment has been confirmed, the controller powers up the e-bike motor for the allotted time.

With the cost e-scooters rising, bikes for hire in cities across the world could benefit from this new way of payment option.

Many Crypto Billionaires Listed In China’s Wealthiest Individuals

Hurun Research Insitutute, a Chinese research group has recently released the annual list of richest individuals in China and for the first time, blockchain-related individuals made it into the rich list.

This is the 20th edition of the Hurun China Rich List and only includes individuals with a net worth higher than 2 billion Yuan ($289 million).

The highest on the list that made their fortune through blockchain-related business is Micree Zhan, Bitmain co-founder who placed 95th with a net work of $2.4 Billion.

Following a close second, also a bitmain co-founder is Jihan Wu taking the 204th spot with a total networth of $2.3 Billion.

Binance founder and CEO, Changpeng Zhao was able to reach 230th spot with an estimated net work of $2.1billion.

Other notable figures on the list are Star Wu, founder of OKCoin, Li Lin, founder ofHuobi, and Li Xiaolai, creator of BitFund and renowned Bitcoin “Whale.”

Included in the list also are leaders of Canaan Creative and Ebang companies that are competing with Bitmain in the mining equipment industry.

Coinfloor The First Crypto Exchange Under Gibraltar New Blockchain Legislations

The oldest cryptocurrency exchange in United Kingdom, Coinfloor has become the first company to be licensed by Gibraltar’s progressive blockchain legislation.

According to reports, Gibraltar is focusing on quality not quantity and Coinfloor has proven itself worth enough to get the very first license on the groundbreaking blockchain legislation.

The exchange will be regulated as a distributed ledger technology (DLT) provider.

The British Overseas Territory hopes to emulate its success in the online gambling industry with its incredibly low taxes from firms based there.

Obi Nwosu, the CEO of Coinfloor commenting on his company getting the first License from the British territory reveals that he was impressed by Gibraltar’s well thought out legislation, focusing in quality rather than quantity and the sheer amount of effort and time the government allotted to make the legislation as such.

First Crypto-Related IPO In The World Capped At 900 Million USD

An investment company headquartered in the Cayman Islands has announced the world’s very first cryptocurrency related initial public offering (IPO).

Epoch Partners Limited’s IPO on a crypto-related Fund, hopes to widen the exposure of investors to different cryptocurrencies, ICOs, and digital assets.

The Securities Registration Statement for the fund has been filed on the official disclosure system of the Japanese Financial Services Agency (EDINET) in late September and reveals that the total subscriptions for the IPO will be capped at 100 billion yen which is equivalent to about $900 million USD.

James Skinner, partner of the investment company states that their company is very keen to undertake the world’s first public offering of cryptocurrency fund in Japan.

With the movement to more institutional players like Goldman Sachs and Nomura entering the space shows the great potential of this area.

He adds that this new asset class would likely become an integrated part of investment portfolios similar to fixed income products today on a smaller scale.

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