In today’s digest – ICO legality, Financial support plan for customer assets, Nouriel Roubini’s opinion about cryptocurrency industry, Harvard, Stanford, & MIT have invested in cryptocurrency and EU’s first property sale based on blockchain.
The South Korean government will make a decision in November on whether it will allow initial coin offerings (ICOs) again in the country.
If we waste time, the blockchain industry could face huge difficulties. We need to look at very realistic and specific ways to nurture the blockchain industry, and I think permitting ICOs is one of them.
Financial support plan for customer assets
Hacked Japanese cryptocurrency exchange Zaif has announced an official plan to provide financial support for affected customers’ assets. Zaif operator Tech Bureau Inc. indicated it would be working with Fisco Digital Asset Group to draft a joint support plan.
Fisco would provide “financial support of 5 billion yen, enter a capital alliance enabling acquisition of a majority of the Company’s shares and allow for a majority of directors and the dispatch of an auditor.”
Is cryptocurrency more centralized than North Korea?
Cryptocurrency critic Nouriel Roubini gears up for a US Senate Committee on Banking, Housing and Urban Affairs hearing on ”Exploring the Cryptocurrency and Blockchain Ecosystem”. He has tweeted his negative opinion on the cryptocurrency industry, and in addition to this, Roubini has also predicted that the price of Bitcoin will allegedly go to zero.
Developers are centralized dictators.
Harvard, Stanford, & MIT have invested in cryptocurrency
Harvard University, Stanford University, Massachusetts Institute of Technology, Dartmouth College, the University of North Carolina and even Yale University have each invested in at least one cryptocurrency fund through their respective endowments.
A move by endowments into funds that will directly bet on cryptocurrencies signals a major shift in investor sentiment toward the asset class, in the same way that institutions over the past decade became more willing to invest in private tech companies. Backing from such closely watched institutions could help validate cryptocurrencies, which are still considered too risky by many institutional investors.
EU’s first property sale based on blockchain
US-based firm Propy, which provides a real estate platform that connects property buyers with sellers, announced its first blockchain-based real estate deal in the European Union. The parties involved in the deal, with a seller from Seville and a French buyer, used Ethereum – the second largest cryptocurrency by market cap, to move the property’s ownership through Propy’s platform.
The EU market can be a complex web of governments, brokers, and other entities making international property transactions difficult. Propy’s blockchain-enabled platform removes complexity resulting in a simple online transaction that is easy to complete and secure.
Thank you for attention! See you soon.