Headlines for the world of Cryptocurrencies - October 26, 2017
Steve Wozniak, Co-founder of Apple Votes Bitcoin Over Gold
At the Money 20/20 conference in Las Vegas, Steve Wozniak, the co-founder of Apple asserted that he believes Bitcoin is superior to both gold and the US dollar.
He said that even though Bitcoin is criticized for it price volatility, it is more stable than currencies backed by the government such as USD because its supply is fixed, while fiat currencies can be easily diluted.
Aside from Bitcoin, he also admires smart contract platforms such as Ethereum and believes it will open up thousands of softwares that no one could have ever imagined before the invention of computers.
Bitcoin Wallet Abra Raised $16 million in Series B Funding
A base on Bitcoin wallet Abra has recently secured a funding of $16 million in Series B funding which gives Abra a total funding of $35 million to date.
Investors include HCM International, Silver 8 Capital, Arbor Ventures, Ignia, Jungle Ventures, American Express Ventures, RRE and Lehrer Hippeau.
Jack Lee of HCM said that he believes Abra is a future of digital payments and banking.
Abra is a decentralized, peer-to-peer wallet that connect merchants and consumers devices through the internet-based open blockchain technology.
Hong Kong And Singapore Unite To Strenghten Fintech Ties And Blockchain Finance Projects
Regulators and central banks from Hong Kong and Singapore had cooperated to an agreement to strengthen fintech ties and work on a blcokchain-based trade finance project.
The Hong Kong Monetary Authority, the Monetary Authority of Singapore and the cities' central banks signed an agreement that aims at reinforcing fintech ties and further developing the fintech industry in South-east Asia.
Roy Teo of MAS said that there is a traditional rivalry between the two when it comes to being a financial centre, however when it comes to fintech, it is where they recognize that there is a lot of need for collaboration between the regulators.
Their first project will be a blockchain-powered cross-border trade finance initiative which details are still scarce but definitely a significant undertaking between the 2 major trade hubs.