Your daily newsletter for 28 August, 2019 |
"We delight in the beauty of the butterfly, but rarely admit the changes it has gone through to achieve that beauty" - Maya Angelou |
Yo! Midweek is here. I hope the fire in yer bellies is still burnin. Keep at it, the week will be over sooner than you think!  Today in history (1984), the first known photograph of a tornado was taken near Howard, South Dakota by F.N. Robinson.  In today's newsletter, we will be covering South Korea's BC card now usingblockchaintechnology to settle rewards points, a webinar by Chainalysis covering risktypologiesinthecrypto space, and AlgoCapitalraising $200million forits venture capital fund. Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say.  Happy reading!  |
Indecisiveness   Over the last 24 hours, total market capitalization stayed within a tight range of ~$262.3 billion and ~$265.6 billion, with most coins seeing either gains or losses in the ~1-3% range. 24-hour volume registered ~$47 billion. BTC is currently trading at ~$10,140, down ~1.7% over yesterday. On the daily chart, BTC is still trading below its 50-day EMA line after failing to break through it after challenging it twice in 7 days. RSI has been in the ~45-47 range over the past week as well, indicative of sustained market indecisiveness at the moment. The 21-day EMA line has also crossed to the downside of the 50-day EMA line.  |
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Undeniably better  According to South Korean news outlet Chosun Ilbo, the largest payments processor in South Korea, BC Card, is using blockchain technology to settle rewards points. The underlying technology is being provided by the country’s No. 2 telecom company, KT, via its KT Hyperledger Fabric-based offering.  BC Card is processing the ordering and exchanging of points paid out by affinity partners, VIP points and vouchers. Prior to this, BC Card had been handling the rewards manually. In early 2019, it developed a blockchain application to do the work, and now shares the ledgers with rewards partners to automate the settlement process. Processing times have since dropped 50%, coupled with a reduction in errors. |
Dispelling myths  According to a recent “Cryptocurrency Typologies: What You Should Know About Who’s Who on the Blockchains” webinar by New York-based blockchain analytics firm Chainalysis, stolen funds represent only 8.1% of all funds sent to crypto mixers. 40% of all funds sent to crypto mixing services or tumblers comes from exchanges, indicative that such funds are primarily used for privacy purposes rather than for illicit activities. Only 2.7% is sent from darknet markets. The webinar also covered a large number of risk typologies in crypto industry, including darknet markets, terrorist financing, sanctioned cryptocurrency addresses, stolen funds, scams and others. |
Pay it forward  Algo Capital has raised $200 million for its venture capital fund, and has sealed investment from the likes of Arrington XRP, Brainchild, NGC Ventures, Eterna Capital, GSR, Cognitive Blockchain, Rokk3r Inc., Wibson, 11-11 Ventures, DG Ventures, Winslow Strong, Invermaster, and others. The funds will be used to invest in businesses that will help build infrastructure for the Algorand (ALGO) blockchain.  The fund will also invest in businesses focused on accelerating the adoption of the platform's native token, ALGO, as a means of payment. It has revealed that its initial portfolio companies include security token issuance platform Securitize, decentralized exchange Idex, blockchain infrastructure and middleware orchestration platform BlockDaemon, and institutional exchange and cross-custodian settlement platform OTCXN. The fund is led by blockchain investor David Garcia, venture capitalist Arul Murugan, and blockchain technology specialist Pablo Yabo. Commitments to the fund were received in ALGO, as the token is being used as the primary currency for all capital calls. |
Blockchain term of the day  - ArbitrageA practice of taking advantage of differences in price of the same commodity in two or more markets or exchanges. For example, cryptocurrency prices on Korean exchanges can be different from those on US exchanges. An arbitrage trader would be in both markets in order to buy in one and sell in another for profit. |
At The Capital, join in on the cutting-edge discussions around adoption and liquidity! Wait til you see our speakers' list! The crypto leaders and builders will share their perspectives on the state of crypto today, and chime in on their thoughts for where blockchain is headed! Best of all, the community gets to vote on the topics that matter to them, during our exclusive UNconference sessions! In these sessions, our speakers will touch on what YOU deem is important.
For a little Proof-of-Work, we're making your ticket to The Capital FREE! Simply click on "TICKETS", select "free" or "full" admission, answer the questions, and we will see you there! More details can be found here! Remember to start looking for flights/trains/buses ASAP! |
Other news  Facebook has hired a Washington-based lobbying firm specializing in regulatory compliance, public policy and business strategy for the fintech and crypto financial services sectors, FS Vector, to help alleviate regulatory pressure on Libra. According to a recent ruling by Magistrate Judge Bruce Reinhart, Craig Wright must turn over half of his bitcoin holdings and intellectual property to the estate of Dave Kleiman. The ruling applies to holdings and IP from before 2014.  Non-custodial and multi-cryptocurrency wallet provider Button Wallet is launching a free testing service on the Telegram Open Network (TON) and giving away 6.6 testnet GRAM tokens (native currency of Telegram’s TON blockchain platform) to users who activate its wallet. 
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Crypto calendar  29 Sept - U.S. SEC's decision on the Wilshire Phoenix's Bitcoin and Treasury Investment Trust ETF application, under the NYSE Arca exchange (initial decision) 13 Oct - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision) 18 Oct - U.S. SEC's decision on the VanEck/SolidX Bitcoin ETF application, under the Cboe BZX exchange (final decision) TBA - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline TBA - Justin Sun's lunch with Warren Buffett |
Bitcoin Dominance
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Daily Top 10
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Greatest Crypto Gainers
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Greatest Crypto Loses
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Poll of the DayHow much do you agree with this statement: "I believe that blockchain can help improve the current businessI'm running/ company I amworking in." |
Why or why not? Share with me in the polls!  |
What you said"Howmuch do you agree with this statement: "I believe that crypto can help with financial inclusion for the unbanked."" The average vote was 8. |
"Why or why not?" More confidence in control over Personal income. - True. That is the mayor advantage of the cripto system. Is that a trick question - Not a trick question at all! Wanted to hear your thoughts on the matter!  This is the best use case for crypto bringing the poorest parts of the world to have access to financial services. - I agree. The percentage of people with phones now is more than the percentage of banked people. We might get there even before we solve the whole unbanked issue.  Blockchain really unbanks everyone. Anyone has access to a financial system by simply using an app. No matter where from or what class or race or anything. - True. And it makes the user so nimble too.  They will need a lot of education about crypto before it can really affect the unbanked. - This is also true. There is a huge educational gap to close. this is by far the biggest advantage crypto holds, that why I think it important to focus on Africa and Latin America. I have some great ideas if somebody wants to team up with me. - Do share your ideas with us! Always open to hear what you guys have to say. The unbanked would be overwhelmed by all the new terminology and would be skeptical in understanding how a blockchain works - I think this will be solved in due time, but we have to continue to place emphasis on crypto education. I'm sure there was a big educational gap with mobile phones as well.  Only offered solution so far. - DeFi could potentially be the next viable wave. One mobile application and one cryptocurrency is all it takes to stabilize a person's finances without regular access to banking services. Even for people with incomes below the poverty level, access to affordable mobile phones is common. These same people would still need to convert their physical, non-banked fiat into crypto. This initial inconvenience is far outweighed by the prospect of stabilized finances and the chance of profiting from the increased value of the currency(ies) they may hold. - Agreed. |
Thank you all for reading! Catch you back here again on tomorrow for your daily dose of crypto news!  |
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