Top Crypto Stories for October 8, 2017
Sundays are great for catching up with news from the past week. Take a look at some of the top stories below.
Venezuela May Introduce Its Own Central Bank Digital Currency
Yesterday we brought news that Russia's central bankers are looking to implement a centralized digital currency; now it looks like Venezuela is looking to do the same thing. It's well known that the South American country is really struggling financially, with its socialist regime and corrupt government. Working in concert with Onixcoin, the country is hoping that a digital currency can help pull its people out of the economic trough it dug itself into.
Boosteroid Aims to Break Up Big Cloud Monopolies
Right now, an estimated 70% of could computing services are monopolized by three of the largest tech companies: Amazon, Microsoft, IBM and Google. Boosteroid is a new player that is hoping to change that situation, though so far it has not provided much detail about the technical ways it hopes to achieve its goals. After raising $2 million in a pre-ICO sale, Boosteroid will be launching a full-fledged ICO later this month – but whether it has the infrastructure and technical skill to oust the big boys remains to be seen.
Former Goldman Sachs VP Likens Cryptocurrencies to Internet Stocks
Matthew Goetz, a former VP at the financial megacorporation Goldman Sachs, has compared investing in Bitcoin and other cryptocurrencies to investing in Internet stocks in the late 1990s. As the owner of BlackTower Capital, an investment company that offers a crypto-based hedge fund, Goetz says that placing bets on specific technologies is extremely risky, and in the long run, some better technology could oust Bitcoin, Ethereum, and other big players.
Japanese Banks to Star Mining Cryptocurrencies
Where there's money to be made, you can bet on a bank being the one to figure out how to do it. The big question is whether Japanese banks can get their hands on enough hardware to mine efficiently. Could a new Japanese competitor to ASIC pop up? It seems unlikely, but you never know, especially if there's money to be made.
Blockchain Health Firms Gain Ground Outside the US
There's no doubt that the U.S. health care system is a mess right now. Some believe that blockchain technology could help out in a number of ways, from reducing overhead to providing a better system of payment for services, but U.S. regulatory controls are preventing them from taking off. So now, health-focused blockchain startups are turning to Canada and other countries to develop their ideas.
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