Rememberful Bitcoin News.
Ethiopia is exploring the use of blockchain technology to track the supply chain for its largest export, coffee.
Ethiopia is exploring the use of blockchain technology to track the supply chain for its largest export, coffee.
Financial institutions around the world are scrambling to launch Bitcoin trading services. It will be interesting to see who wins this race, although Goldman Sachs may be the first firm to cross the finish line. Their current plan is to launch derivatives trading rather than actually trade Bitcoin. It seems to make a lot of sense at this stage, although it is not the outcome most people had expected. No Goldman Sachs Bitcoin Trading Desk Yet With so many financial institutions preparing to offer cryptocurrency trading services, the competition will be worth keeping an eye on. Although mainstream media outfits claim these firms
Financial institutions around the world are scrambling to launch Bitcoin trading services. It will be interesting to see who wins this race, although Goldman Sachs may be the first firm to cross the finish line. Their current plan is to launch derivatives trading rather than actually trade Bitcoin. It seems to make a lot of sense at this stage, although it is not the outcome most people had expected.
With so many financial institutions preparing to offer cryptocurrency trading services, the competition will be worth keeping an eye on. Although mainstream media outfits claim these firms will launch a Bitcoin trading desk, that may not be the initial plan at this time. Goldman Sachs, for example, has confirmed its interest in trading cryptocurrencies, but they will not do so by buying and selling the cryptocurrencies themselves.
Instead, the current plan of action revolves around using some form of Bitcoin derivatives for trading purposes. This is only the first step in launching a full-fledged cryptocurrency trading venture, but it is a pretty interesting development regardless. This “small” dip into the cryptocurrency waters simply makes a lot more sense than going all in from day one.
Trading Bitcoin futures is nothing new in the financial world either. Both Cboe and CME already offer this functionality as of right now, although their volume is not exactly spectacular at this point in time. The volume is going up every month, but it still represents a drop in the bucket as far as global Bitcoin trading is concerned. It is evident institutional investors want to be exposed to Bitcoin, but they aren’t going all in just yet.
Indeed, it seems to make a lot of sense for Goldman Sachs to stick with futures. Buying and selling BTC directly poses logistics and security challenges the firm simply doesn’t want to deal with right now. No one wants to risk getting hacked because of their involvement in cryptocurrency. This also means the trading desk plans have been delayed, although no one knows for sure if and when such a product will be offered by Goldman Sachs.
When Bitcoin futures trading will begin remains to be determined. Some sources claim this could happen as early as late May or early June, although there is no official launch date as of right now. It will be interesting to see if the Goldman Sachs venture will attract more institutional investors than Cboe and CME, yet that seems highly unlikely. A proper Bitcoin trading desk, on the other hand, would attract a lot more attention.
How the Bitcoin community will respond to this development – or lack thereof – remains to be seen. It is evident people have high hopes that institutional money entering the cryptocurrency space will push all prices to new all-time highs this year. It may not have much of an effect right now, although in the long run, the bullish price trend remains visible. Bitcoin and its cohorts are in a good place right now despite a rough start to the year.
Bitcoin News (press release)Samsung Profits Surge on High Demand for Bitcoin Mining ChipsBitcoin News (press release)Samsung Profits Surge on High Demand for Bitcoin Mining Chips In the first quarter of this year, the company recorded consolidated earn…
Bitcoin News (press release) | Samsung Profits Surge on High Demand for Bitcoin Mining Chips Bitcoin News (press release) Samsung Profits Surge on High Demand for Bitcoin Mining Chips In the first quarter of this year, the company recorded consolidated earnings of 60.56 trillion won (~US$56 billion). Its operating profits were 15.64 trillion won (~$14.5 billion), a 58 ... |
Cloud-based graphics-rendering firm OTOY has introduced RNDR, “a blockchain-based rendering platform that leverages a distributed network of idle GPUs to render graphics more quickly and efficiently,” making the …
Cloud-based graphics-rendering firm OTOY has introduced RNDR, “a blockchain-based rendering platform that leverages a distributed network of idle GPUs to render graphics more quickly and efficiently,” making the process of rendering and streaming virtual reality (VR) scenes easier for all users.
RNDR is now announcing partnerships with blockchain developers zeppelin_os and Decentraland. Senior executives of both companies are joining Hollywood director and producer J. J. Abrams; the founder of Brave and Basic Attention Token, Brendan Eich; and talent agent Ari Emanuel on the RNDR advisory board.
“The RNDR Network that OTOY has created will revolutionize the way that entertainment is produced and created — in a similar way to what we have seen happen since the introduction of streaming,” Emanuel said in conversation with Bitcoin Magazine. “I don’t think there is going to be one aspect of entertainment or media that won’t be affected by this and the addition of blockchain-based content distribution.”
RNDR wants to accelerate an immersive VR future, allowing content creators to crowdsource the power of graphics cards across its peer-to-peer (P2P) network. “The concept for RNDR has been in the works for some time and the reaction we’ve seen so far is highly encouraging,” said OTOY CEO Jules Urbach. “We’re now in an excellent position to deliver on our mission of democratizing the process of complex rendering.”
As VR and augmented reality (AR) technologies become more and more mainstream, the demand for graphics processing units (GPUs) to process complex scenes is growing. To address the challenge of GPU accessibility and affordability, RNDR is building a decentralized and open global rendering system to make high-performance GPU rendering tools readily available to Hollywood studios and everyday content creators alike.
The Render Token (RNDR) platform, powered by the Ethereum blockchain and currently in alpha testing, is expected to be released later this year.
“[RNDR] will allow complex GPU-based render jobs to be distributed and processed on a peer-to-peer network, making the transactional process of rendering and streaming 3D environments, models, and objects much simpler for end users,” reads the RNDR white paper. “Furthermore, the Render Network will eventually evolve to include crowd sourced 3D projects to digital rights management, creating a vibrant new marketplace to fund digital ideas, assets and applications that anyone can access and leverage.”
“Our plans to create a fully distributed network of idle GPUs have been in the works for nearly a decade, since OTOY’s initial work on the project in 2009,” Urbach told Bitcoin Magazine. “With the technology at the stage where our concepts can now become a reality, we are better positioned than ever to crowdsource the power of graphics cards and simplify the rendering of 3D objects and holographic environments. Our partnerships with well-known blockchain partners like Brave, Zeppelin and Decentraland bring us even closer to the vast, distributed network we envision.”
Zeppelin_os provides an operating system (OS) for the development and secure management of decentralized applications. It is an open-source platform of tools and services, initially built on top of the Ethereum blockchain, but with a plan to expand to other blockchains when relevant. Zeppelin_os, which aims to become a core building block for the future of applications in the decentralized web, will provide an on-chain smart contract library that developers can call on to provide standard and common functions in their applications.
“We are proud to partner with RNDR to achieve our mission of creating the next generation of smart contract infrastructure,” said Zeppelin Solutions CEO Demian Brener. “I’m proud to join RNDR’s advisory board because they share my mission of creating the next generation of a smart contract–powered economy,” Brener added in conversation with Bitcoin Magazine. “We look forward to supporting the RNDR distributed network of cloud rendering technology as one of the main applications to be supported in Zeppelin_os.”
Decentraland is a VR platform, powered by the Ethereum blockchain, that allows users to experience, create and monetize VR content and applications. Decentraland users will now be able to power the creation of assets on the Decentraland platform with the RNDR GPU network.
“I chose to join RNDR’s advisory board because they share my mission of creating an open, decentralized Metaverse,” said Decentraland co-founder Ari Meilich. “We hope that, with the launch of their platform, Decentraland content creators will be able to rent GPU power in a P2P network. RNDR has the potential to increase the pool of GPUs available by 3 to 4 orders of magnitude, compared to the public cloud.”
This article originally appeared on Bitcoin Magazine.
Blockchain technology and decentralization has changed the way modern banking works. With an unparalleled level of security, speed and transfer times, its impact in international funding and trade is the biggest industry disrupter since the advent of the internet. Disclosure: This is a Sponsored Article Banks today are the only way for trading parties, whether individuals, organizations or even governments, to transfer funds or do international exchange for trades. These financial institutions hold the power of transactions, controlling how and when (even if) the funds are transferred. Replacing Banks With Blockchain: Kvantor Developed by a team of industry experts, Kvantor
Blockchain technology and decentralization has changed the way modern banking works. With an unparalleled level of security, speed and transfer times, its impact in international funding and trade is the biggest industry disrupter since the advent of the internet.
Disclosure: This is a Sponsored Article
Banks today are the only way for trading parties, whether individuals, organizations or even governments, to transfer funds or do international exchange for trades. These financial institutions hold the power of transactions, controlling how and when (even if) the funds are transferred.
Developed by a team of industry experts, Kvantor is a decentralized platform for international transfer of funds and goods. The team has a vast experience in banking, financial and blockchain sector. They realized the potential that blockchain had to offer in international level economic trade and Kvantor is a result of their efforts. The Kvantor platform offers the following services:
Kvantor’s adoption of blockchain technology gives it an edge over traditional banking which, although faster than ever, is still based on centuries old system. The traditional banking is left behind in the race due to the following lackings:
The Kvantor platform treats its internal tokens as a license to use their services through a process called Results in Intellectual Activities. Higher number of licenses held by a user would give him/her/it a higher sway in the RIA. The licenses are being distributed to seekers in two phases. The first license distribution event is currently live until 25th May. This private phase is giving at a discount of 40% to the first 20% licenses.The second phase of issuance will start on 28th May and will end on 25th June. During this, the first 40% licenses distributed will carry a 20% discount.
The total hardcap of the licenses is 32,000,000 GBP. Exact value of licenses is calculated against current price of 1/1300th troy ounce of gold in the international market.
For more information on Kvantor, visit their website: https://kvantor.com/
Police in the Indian city of Vizag have ordered hotels to deploy a new blockchain security solution.
Police in the Indian city of Vizag have ordered hotels to deploy a new blockchain security solution.
Forbes |
How To Play The Bitcoin Bust And Crypto Crash
Forbes No one knows which digital currency will soar to heaven or leave investors in hell. Only one thing is guaranteed: Cryptocurrency prices are and will continue to be volatile. Let’s look at the dark side for a moment. There is still a chance that cryptos … |
Forbes | How To Play The Bitcoin Bust And Crypto Crash Forbes No one knows which digital currency will soar to heaven or leave investors in hell. Only one thing is guaranteed: Cryptocurrency prices are and will continue to be volatile. Let's look at the dark side for a moment. There is still a chance that cryptos ... |
Telegram shocked the world when the company announced its plan to host an initial coin offering. It quickly became apparent this would not be an ICO in the traditional sense, but rather a glorified IPO with a unique token. It now seems the firm has canceled its fundraising plans altogether. The real reason remains unclear, although SEC scrutiny may have been a contributing factor. Telegram is Content With its Private Sale The past few months have been quite interesting for Telegram as a company. After attempting to cash in on the hype surrounding ICOs, things have taken a rather interesting turn all
Telegram shocked the world when the company announced its plan to host an initial coin offering. It quickly became apparent this would not be an ICO in the traditional sense, but rather a glorified IPO with a unique token. It now seems the firm has canceled its fundraising plans altogether. The real reason remains unclear, although SEC scrutiny may have been a contributing factor.
The past few months have been quite interesting for Telegram as a company. After attempting to cash in on the hype surrounding ICOs, things have taken a rather interesting turn all of a sudden. More specifically, the company raised $1.7 billion through a private presale without too many problems, but it then announced that it would not allow regular consumers to invest in the company whatsoever.
That decision was initially altered, as Telegram announced the launch of an upcoming public coin offering. Although there were still concerns over how that would play out exactly, it seems this is no longer a problem. That’s because Telegram Group has completely canceled its public coin offering plans, although no one knows exactly why that is the case.
There are many possible explanations for this sudden change of heart. The company raised a ton of money by selling its proprietary token to under 200 private investors. The money raised is more than sufficient to take Telegram to the next level, although some people may have a different opinion in this regard. Another possible explanation is that the SEC crackdown on ICOs forced the company to rethink its plan.
In any case, the overall plan of Telegram Group to create a new blockchain-based infrastructure has not changed. The company still aims to launch the Telegram Open Network as a competitor to Visa and Mastercard by focusing on the decentralized economy. With $1.7 billion in funding, building out such a protocol is certainly possible, although it may not necessarily succeed.
It is evident the cancellation of the Telegram public coin offering will cause a lot more speculation moving forward. Since no one knows for sure what the real reason is – and the company’s refusal to comment on this situation still in place – all possibilities have to be considered. Some people still openly question the company’s decision not to deal with Bitcoin or established cryptocurrencies.
With more and more scrutiny of initial coin offerings, it seems fewer companies will decide to embrace this business model moving forward. There are a lot of concerns regarding issuing securities tokens, which would require approval from the SEC. As of right now, Telegram has not filed with the SEC regarding its public sale, which may have put the company on the regulator’s radar. Only time will tell how this situation unfolds.
North America Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country. USA Goldman Sachs announces Bitcoin futures trading: Prominent Wall Street banker Goldman Sachs has announced that it plans to trade in Bitcoin futures after …
The post North America: Crypto and Blockchain News Roundup, 27th April to 3rd May 2018 appeared first on BitcoinNews.com.
Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.
Goldman Sachs announces Bitcoin futures trading: Prominent Wall Street banker Goldman Sachs has announced that it plans to trade in Bitcoin futures after a crucial decision by the bank’s board of directors, as reported by the New York Times.
This significant decision that may pave the way forward for Bitcoin’s validity as a currency or a genuine asset came after the bank’s customers requested the board to trade in Bitcoin. The bank will officially start trading in cryptocurrencies within a few weeks according to these latest reports.
Largest car manufacturers form blockchain alliance: World’s largest carmakers including US giants General Motors and Ford have joined other brands to launch the Mobility Open Blockchain Initiative (MOBI). Other members of the partnership include Bosch, Hyperledger, IOTA, IBM and dozens of other big companies as part of the 30-strong group.
MOBI was established to create common standards to enable data sharing and making transportation safer, affordable and accessible with the help of blockchain technology.
Chris Ballinger, CEO of MOBI said, “Blockchain and related trust enhancing technologies are poised to redefine the automotive industry and how consumers purchase, insure and use vehicles… by bringing together automakers, startups, and government agencies, we can accelerate adoption for the benefit of businesses, consumers and communities.”
Regulators seek legal pathway for ICOs: Regulators at the US Securities and Exchange Commission (SEC) are looking for a solution to facilitate the launching of ICOs in the country within current securities law in the country.
According to Robert Jackson, commissioner at the SEC, SEC still has several concerns when it comes to ICO fraud but he also suggested a legal method for raising cryptocurrency funds could be a viable alternative.
He said, “Investors are having a hard time telling the difference between investments and fraud. Down the road, I think we will be thinking about ways to make those investments work consistent with our securities laws.”
His is among other positive voices in the SEC coming out for the last few weeks.
Crypto under microscope in SEC hearing: Various issues were discussed during the latest SEC meeting on 26 April including an approach towards token sales and classifications. SEC has previously argued that coins sold in token sales can only be termed as securities and thus cannot be self-regulated according to current law.
Other issues in the hearing included the designation of Ethereum token Ether as a security considering its decentralization. While there is no consensus on the decision, there are several positive voices in the commission wishing for a better outcome for the cryptocurrency circles.
Republican Minnesota Representative Tom Emmer went as far as to say: “People tend to fear what they don’t know. If people sailing the oceans at the time of Columbus had believed the world is flat, we wouldn’t have had the great discoveries of the New World.”
Bitcoin like a regular currency – St Louis Federal Reserve: The Federal Reserve Bank of St Louis has in an official piece declared that the Bitcoin is valid as a currency.
The post on its official website, titled ‘Three Ways Bitcoin is Like a Regular Currency’ reads:
“Bitcoin units have no intrinsic value but also currencies such as the US dollar, the euro, and the Swiss franc… have no intrinsic value either.”
This is a bold statement from this part of the Federal Reserve and may go against the policies of the bank itself.
Blockchain way forward to cashless economy – Ex-Fed VP: Ex-Fed vice president Rod Garrott has said that blockchain is the way forward to introducing a cashless economy in the country. He made these comments at a recent MIT Business conference in April in Boston along with other claims that banks will soon start adopting Blockchain.
While a cashless society could be a far cry right now, it is a futuristic concept that fascinates many.
Canada gets best rank as blockchain nation: Canada’s coin economy is increasing and it is quickly becoming a world leader in cryptocurrency and blockchain technology behind the UK and US. Canada is home of Ethereum, the world’s largest programmable blockchain and second only to Bitcoin in terms of market capitalization for a long time.
Emin Gun Sirer, Cornell professor of computer science said, “The Ethereum nodes are both in the latency space, and also geographically, more distributed around the world, as opposed to Bitcoin nodes, which tend to be located in data centers.”
Vitalik Buterin, Toronto-based Ethereum founder is leading the nation’s development in cryptocurrencies and fintech. More than 70 projects have been invested in by the Blockchain Research Institute (BRI) in Toronto alone.
Quebec hydropower company suspends requests for power: After investing considerable sums in cryptocurrency mining operations, miners in Quebec, French Canada have taken a major hit as the state’s power company Hydro-Quebec has announced that it is putting all mining operations’ requirement of electricity on hold.
What happened was that all requests from miners for additional power were deemed excessive, taking up a quarter of all the state’s total power generation capacity.
Hydro-Québec spokesperson Jonathan Côté said, “At the moment, the volume of requests that we have received from the cryptomining scene is very large. We’re talking about more than 10,000 megawatts.”
It remains to be seen how much of this can be met by the Canadian power company.
The post North America: Crypto and Blockchain News Roundup, 27th April to 3rd May 2018 appeared first on BitcoinNews.com.
CNBC |
Wall Street to follow Goldman Sachs on bitcoin, blockchain venture capitalist says
CNBC Goldman Sachs is moving ahead with plans to open the first bitcoin trading firm of any Wall Street bank and other banks will likely follow, said Spencer Bogart, a partner at Blockchain Capital. “That’s what a lot of banks do, follow what Goldman does … |
CNBC | Wall Street to follow Goldman Sachs on bitcoin, blockchain venture capitalist says CNBC Goldman Sachs is moving ahead with plans to open the first bitcoin trading firm of any Wall Street bank and other banks will likely follow, said Spencer Bogart, a partner at Blockchain Capital. "That's what a lot of banks do, follow what Goldman does ... |
The world’s first crypto-to-physical-gold exchange, Vaultoro has announced that it is now the first bitcoin exchange with an implementation of the Lightning Network as an instant deposit method.The company allo…
The world’s first crypto-to-physical-gold exchange, Vaultoro has announced that it is now the first bitcoin exchange with an implementation of the Lightning Network as an instant deposit method.
The company allows customers to trade gold with bitcoin directly, all the way down to 0.1 gram in quantity. Customers can hold the asset for seconds or years, with their ownership certificate securely stored on the blockchain. All gold holdings are physically stored by Pro Aurum in Switzerland and audited by BDO. The physical gold can be requested by customers or left in the vault, where it is also insured. Vaultoro is also working on a gold-backed debit card.
According to Vaultoro CEO Joshua Scigala, “Lightning makes bitcoin so fast that if you want to buy an order out of Vaultoro’s order book, you can hold the bitcoin in a wallet on your phone, set the order on Vaultoro, get a QR code and send the bitcoins through the Lightning Network, directly purchasing the order.”
Normally a user would have to upload their bitcoins to Vaultoro and wait for six confirmations. During that time, the bitcoins are exposed to a hot-wallet counterparty risk. “With Lightning,” said Scigala, “the bitcoins won’t need to sit in our hot wallet; rather, they instantly make the trade. Market makers will still need to hold coins in our hot wallet because their orders have to sit there waiting to be taken.”
The Android bitcoin wallet Eclair is the first to support Lightning functionality, so it is recommended for this new Vaultoro functionality. The procedure would be to install Eclair, send bitcoin to it, open a Lightning channel, get your confirmation and then send transactions on the network virtually instantaneously.
It is important to note, however, that Lightning is still in beta and Eclair is the only option other than rolling your own wallet. Because Lightning is still beta, Scigala warns that users employ it it at their own risk.
“Bitcoin is one of the greatest peaceful revolutions the world has ever seen,” Scigala told Bitcoin Magazine. “Why? Because it’s voluntarily bringing people back to asset-based money and giving them a way out of controlled debt-based fiat currency. Many won’t understand this important difference, but it doesn’t matter as they will come in due to mad gains in the speculative markets or basic borderless utility.”
The Lightning Network takes bitcoin mainstream in terms of speed, privacy and utility. It’s the icing on this evolutionary cake and it’s beautiful to watch unfold. I’m super proud to make Vaultoro a little part of this story.
This article originally appeared on Bitcoin Magazine.
Cointelegraph |
Bitcoin Price Challenges $10K Amid Bullish Sentiment, Ethereum Reclaims $800
Cointelegraph Investors have welcomed updates from Ethereum co-founder Vitalik Buterin, who earlier in the week released a proof of concept update for the network’s capacity expansion using so-called sharding. ETH/USD was up over 10 percent in the past 24 hours … |
Cointelegraph | Bitcoin Price Challenges $10K Amid Bullish Sentiment, Ethereum Reclaims $800 Cointelegraph Investors have welcomed updates from Ethereum co-founder Vitalik Buterin, who earlier in the week released a proof of concept update for the network's capacity expansion using so-called sharding. ETH/USD was up over 10 percent in the past 24 hours ... |
Databroker DAO, a platform allowing owners of devices with sensors to monetize their data, has kicked off their main sale of the DTX token. Disclosure: This is a Sponsored Article Databroker DAO a win for both sides The marketplace Databroker dao envisions is a win/win for both businesses and the consumer. Businesses as well as research organizations are able to acquire data that is both accurate and timely in an ethical manner while consumers are able to receive a financial incentive if they choose to submit their sensor data. Sensor owners would receive 80% of proceeds to be exact, with
Databroker DAO, a platform allowing owners of devices with sensors to monetize their data, has kicked off their main sale of the DTX token.
Disclosure: This is a Sponsored Article
The marketplace Databroker dao envisions is a win/win for both businesses and the consumer. Businesses as well as research organizations are able to acquire data that is both accurate and timely in an ethical manner while consumers are able to receive a financial incentive if they choose to submit their sensor data.
Sensor owners would receive 80% of proceeds to be exact, with 10% being awarded to the gateway operator responsible for brokering the transaction, and the other 10% being allocated to the platform.
The platform would also reduce intermediary costs by eliminating the middlemen, and allow owners of the data full control of their sensors, by allowing them to sell only what they want to. With the global market for IOT sensors having surpassed $600 billion per year, a number that will only increase as existing devices become connected and more products hitting shelves become internet-capable.
In fact, the market is expected to double within the next three years, making this one of the fastest growing markets to date.
The main sale follows a successful pre-sale event. The sale started April 26th, with participants on day one receiving a 10% discount. Those interested in “trying before buying” can check out Databroker’s beta platform, which is fully functioning and showcases all the features for selling or buying sensor data with Databroker.
The event is scheduled to run for a full month, coming to an end on May 26th, 2018. The exchange rate for DTX tokens is at a rate of 4000 DTX per 1 ETH, with a 5% bonus available to those that take advantage of their referral system.
Buyers only have to go through a KYC procedure and then they are able to purchase DTX tokens. Once the KYC procedure is complete, buyers submit the ETH to the wallet address on their website, and then claim their tokens.
Databroker DAO already has confirmed listing of their token on the exchange Chankura one week after the sale ends, allowing for traders to acquire DTX tokens on the public market.
After the sale and trading opens, Q2 of 2018 will see mainnet release of the platform, setup and onboarding of an extended team, as well as the integration of gateway operators. Q3 will focus on improving the white labeled frontend interface, and Q4 of 2018 will work on private data sales and whitelisted buyers. Finally, the first quarter of 2019 will bring with it data enhancement integrations.
These integrations will serve as services based on the raw data they are providing. The first of many integrations will begin with the Alliance, buyers and sellers that have been vetted and work closely with Databroker DAO.
Visit their website and read their whitepaper to learn more. The team is available for chat on Telegram, and users can also follow them on Twitter and Facebook. Blog posts are made on Medium.
Venezuela is reportedly launching a youth bank to be funded by the state’s controversial cryptocurrency, the petro.
Venezuela is reportedly launching a youth bank to be funded by the state’s controversial cryptocurrency, the petro.
Podcasts play an integral role in the world of cryptocurrency. During a recent Crypto 101 podcast, an interview was conducted with Binance CEO Changpeng Zhao. Given the exchange’s popularity, this demand for Zhao’s opinion has soared. During this particular podcast, we learn a bit more about how he got into cryptocurrency and why the Binance exchange…
The post Binance CEO Says Bitcoin’s Recent Dip is a Blip on the Radar appeared first on NewsBTC.
Podcasts play an integral role in the world of cryptocurrency. During a recent Crypto 101 podcast, an interview was conducted with Binance CEO Changpeng Zhao. Given the exchange’s popularity, this demand for Zhao’s opinion has soared. During this particular podcast, we learn a bit more about how he got into cryptocurrency and why the Binance exchange was launched.
While most people know Zhao as the CEO of Binance, it is easy to overlook everything else about him. Similar to most company CEOs, there is a very good reason why he ended up running a cryptocurrency exchange. After spending his youth traveling from country to country, he knows the issues of dealing with money on a global basis. It is these struggles which influenced Zhao’s decision to launch a cryptocurrency exchange. He explains:
“It is the third attempt at running a cryptocurrency exchange. After being introduced to Bitcoin in 2013, I wanted to run a cryptocurrency exchange, but everything was too new to make it happen. After leaving OKCoin in 2015, the plan surfaced again, but the market wasn’t big enough. Poloniex already was a big name back then. In 2017, we finally ended up launching Binance.”
Even so, running a cryptocurrency exchange is not easy. Zhao ran a technology startup providing services to other exchanges for two and a half years prior to launching his own platform. It is this knowledge which took Binance from an ICO to a working platform in just twelve days. A remarkable feat of strength, as it would not be possible to do so under normal circumstances.
Exchanges don’t always issue their own native token, yet the Binance platform did. Known as Binance Coin, it has quickly become one of the top digital assets on the market. This is partially due to the success of the trading platform itself. The future of this currency looks bright, although Zhao isn’t too concerned about it. He explains it as follows:
“I typically start my day by waking up and checking my cell phone for any important messages. I don’t check the Binance Coin price anymore. I can go weeks without checking the BNB price. If you were to ask me its price right now, I couldn’t tell you.”
The future will be interesting for cryptocurrencies and Binance, according to Zhao. His recent business meetings required far fewer educational efforts, as most regulators are aware of the developments in this nascent industry. When looking at the current market and prices, Zhao admits he holds a long view on Bitcoin and other currencies. This drop will not be noticeable in a few years from now, as the Bitcoin price will most likely be ‘much higher”.
The post Binance CEO Says Bitcoin’s Recent Dip is a Blip on the Radar appeared first on NewsBTC.