BLOCKnews: Crypto News Of the Week

Yensesa is back again with a run down of crypto news that has caught our eye.

CRYPTO
There’s a crypto movie set to come out in 2019, according to IMDB. The movie, entitled Crypto (the irony) centers on a young anti-money laundering agent, played by Beau Knapp to investigate a case. Before he knows, he is deep inside a dangerous underworld with a mysterious art dealer played by Alexis Bledel and a crypto enthusiast, played by Jeremie Harris.

This is not the first time the film industry has taken an interest in cryptocurrencies. In 2016, a Vietnamese movie called Bitcoin Heist profiled a team of elite hackers planning a crypto-heist, while cryptocurrency has become a recurring theme on the popular HBO show Silicon Valley over the past several seasons.

BTC IN 2022
Billionaire venture capitalist and investor Tim Draper has long been one of cryptocurrency’s biggest bulls, and that has not changed even as the bitcoin price has sunk more than 67 percent from its all-time high.

Draper has predicted that the bitcoin price will reach $250,000 by 2022, a far cry from the estimated $650 per coin that he paid in 2014 when he won nearly 30,000 BTC from the US Marshals Service in the famous Silk Road auction.

Draper said that the recent market downturn has not caused his confidence in that forecast to waver. “Price-wise, we’ll continue to see Bitcoin move higher. I’ve revised my estimate up to $250,000 four years out, so we’ll see Bitcoin trade around the $250,000 mark in 2022.”.

UKRAINE'S SATOSHI STATUE
A group known as the Satoshi Nakamoto Republic in Ukraine plan to honor the pseudonymous creator of Bitcoin, Satoshi Nakamoto, by erecting a statue of him in Kiev. The preferred location for the statue is where a monument to Vladimir Lenin — the father of the Soviet Union — stood before it was brought down during the 2014 Ukrainian revolution.

Initially, the group plans to put up a virtual monument which can be viewed using an app when mobile devices are pointed at a plinth that will be located at the intended site of the statue.

After the virtual monument, the group will petition the Kyiv City State Administration before launching a fundraising campaign.

BTC DROP
Bitcoin price fell to its lowest point since February 6th on Wednesday (June 13th) to hit $6,371 (Bitfinex) in a slide near its year-to-date low amid a continuing struggle to find a stable support level.

While its losses weren’t as pronounced as the other major cryptocurrencies, bitcoin price notably fell to its second-lowest level in 2018 during the early trading hours of Wednesday. Bitcoin’s value dropped to $6,371 at 10 AM UTC, dropping nearly 2 percent over the last hour.

BLOCKCHAIN VERIFICATION
A national banking group representing South Korea’s commercial banks will launch a customer ID verification powered by blockchain technology in July.

The Korea Federation of Banks (KFB) will officially launch “BankSign”, a blockchain-based identity verification platform that will enable retail domestic banks to improve a decades-old verification system with digitization in both online and mobile banking, the Korea JoongAng Daily confirmed.

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