Bitcoin breaks and cruises: bad kryptonews of the week
It has been a good week for the crypto markets.
Bitcoin finally broke the $11,000 cap, and moved on. According to some experts, the currency could be on its way to a big 2017-style rally. Other analysts have identified five events that could move the markets this week, including the effect of the election on the dollar, Europe’s struggles with the Brexit and coronavirus, and Bitcoin’s high hash rate.
Investment experts at Stone Ridge Asset Management have been paying attention. After executives made personal investments in crypto-currencies, the company created a $1 billion spin-off company with an investment of $115 million in Crypto Genius and has been just as far-sighted. The payout company has now put 1 percent of the company’s assets – about $50 million – into Bitcoin.
PPU in Chile will advise nine companies in the maritime sector to promote Blockchain technology through a Joint Venture
The growth in popularity of cryptomoney has led some people to speculate that crypto banks are likely to overtake fiat banks in the next three years. In Italy, the banking system is trying to stay ahead of the game. About 100 banks there now use the Spunta blockchain network to speed up data transfers and settlements. In China, the city of Shenzhen gave away $1.5 million of a digital currency controlled by the country’s central bank, the People’s Bank of China. And the Winklevoss twins‘ Gemini exchange continues to roll out regulated payment options for customers in the UK.
In the Americas, things are… well, a little more cautious. The G7 has said it will oppose Facebook’s Libra project until there is more oversight. And Elon Musk has denied that his Tesla Gigafactory has Bitcoin ATMs.
Spanish edition of the book „Blockchain and Journalism: How the block chain will change the media“ launched
In the DeFi world, things look more fluid. Chainlink could be on the verge of losing its leadership in the ecosystem. The competition is heating up. Constellation Network is building a DeFi project in its Hypergraph protocol and has announced support from early sponsors, including FBG Capital and Alphabit Fund.
Cornell University has revealed that the most downloaded dissertation in the last eight years is Adem Efe Gencer’s proposal for Aspen, an algorithm to distribute the workload in a network among peers. (If you’re looking for a good place to read that work, you can do worse than choosing the Satoshi crypto cruise. It will soon be docked in Panama Bay).
They will hold a Forum on Journalism, Communication and Cultural and Creative Industries in Blockchain
That certainly makes this a good week.