Blockchain & Crypto news CW30 Coinbase, Ponzis, and Assassinations

This post covers news sentiment for CW30 (22.07.2018 –28.07.2018). It is based on Researchly’s Industry Sentiment tool. The report is part of Researchly’s weekly Blockchain and Crypto report covering ICOs, Dapps, and news sentiment. You can read the previous news sentiment report here.


Researchly’s Industry Sentiment tool for last week (22.07.2018 – 28.07.2018) shows, like the week before, the typical high around Prices and Markets and Regulations. Also like last week, new products and companies were launched and announced, especially in regards to enterprise blockchains. Finally, there was a lot of talk around ETFs, originating from the SEC’s decision to (again) reject the Winklevoss’ ETF. As an extra section, I am including Funding and Investments.

Use cases/products/product launches

Coinbase partnering with WeGift

Last Wednesday, Coinbase announced on their blog, that through a partnership with WeGift, customers can now use their Coinbase wallet to purchase gift cards. In Why Coinbase and not Bitcoin will replace Mastercard I have covered this arguing that this is not just another Coinbase service but part of a larger strategy to replace fiat money and payment processors like Mastercard. And I have also explained why Coinbase and not Bitcoin will be the one replacing Mastercard.

Full Analysis: Why Coinbase and not Bitcoin will replace Mastercard

Ponzi Games

As reported in last week’s dapp report and the dapp report of the week before Gambling and Games were the most popular Dapp categories. And the media picked up these Ponzis last week.

In What Ponzis teach us about society’s responsibility and technological progression I have examined two aspects of these Ponzis. First, what do they teach us about society’s responsibility? Secondly, are they another harmful application that will eventually kill Blockchains or just a natural technological progression?

Full Analysis: What Ponzis teach us about society’s responsibility and technological progression

Google wants to bring blockchain technology to its cloud services
by partnering with New York-based startup Digital Asset. (theverge)
It looks like they are working on a web-based solution for developing and testing Blockchains applications. Interestingly, two weeks ago Sparkster, a similar service, finished their ICO and raised $30Mio. Sparkster is a Drag and Drop Software Development platform to “Build Software with NO CODE”. Although I have argued my skepticism against Sparkster in Blockchain Report CW28: Some dapps, no ICOs, many wars, I am generally in favor of tools that enable easier development.

From Blockchain Report CW28: Some dapps, no ICOs, many wars regarding Sparkster:

Sparkster has raised $30,000,000. A lot of buzzwords, no working product and I am in general suspicious of Drag and Drop software tools, especially when writing blockchain-based apps with code is still in its early days.

The First Augur Assassination Markets Have Arrived (Coindesk)
Shortly after the launch of Augur, you can now bet on the lives of selected individuals on Augur. Like in the case of Ponzis, they were bound to happen and we will have to see how they will be regulated. Also, it will be interesting to see how – and if – governments will react.

Crypto Security Startup BitGo to Custody Zcash. (Coindesk)
This is an extension to last week’s news when BitGo added 57 Ethereum Tokens to their custody solution. As I have written in last week’s report, the crypto custody space is getting more and more competitive:

BitGo (institutional custody service) added 57 Ethereum Tokens. Especially interesting when considering that Coinbase’s Custody Services added 10 institutional customers since their start around two weeks ago.

Coindesk reported that Ledger plans to add 100 tokens to their custody service by 2020.

In the retail investor section, Robinhood has added Litecoin and Bitcoin Cash to their app. Although this sounds as yet another product announcement I believe it to be an important part of the ongoing exchange wars, especially as Robinhood has zero trading fees.

Regulations

South Carolina Ends Cease & Desist Orders Against Crypto Startups (Coindesk)
As Coindesk reports, neither ShipChain’s nor Genesis’ tokens are securities.

The Swiss Financial Market Supervisory Authority (FINMA) is investigating Envion’s ICO. (Coindesk)
Envion offers mobile mining solutions and raised $100 Mio. in January this year.

Enterprise blockchains/consortia/banks

Consulting Giant Accenture’s New Patent Reveals Plans for Blockchain Logistics Innovation (cointelegraph)
Admittedly, it is just a patent. But it is Accenture and its a patent for Supply Chains. Two topics that keep popping up. Unsure if that’s good or bad.

Prices and Markets and Futures/ETFs/Trading

A lot of talks again about Bitcoin. After being bullish for the first part of the week and reaching a two-month high at $8,507 on Tuesday, it fell beyond $8,000 on Thursday most possibly because the SEC rejected Winklevoss’ bitcoin ETF.

Funding and Investments

  • BlockFi Raises $52.5 Million in Round Lead by Novogratz’s Galaxy Digital (Coindesk)
    This comes at the same time as Galaxy Digital where Michael Novogratz is a chairman, reported a $134Mio. loss for Q1 2018.
  • Tron Buys BitTorrent for (apparently) $120 Million (Coindesk)
  • 10,000%: Pantera Reports Massive 5-Year Crypto Investment Return (Coindesk)

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