Blockchain & Cryptocurrency News & Insights
Here are the highlights from this week’s Intrepid Report: Tezos co-founder is involved in legal action for failing to disclose his employment status, a big blockchain fund is backed by another major Chinese city, a South Korean exchange eyes expansion in Indonesia, major VCs met with the SEC to discuss exemption from security classifications, and blockchain is making an impact in refugee camps. We also cover insights on the power of decentralisation and speed limits on blockchains. And we share the whitepaper for Metabase, a new scalable blockchain platform we’re launching for decentralized applications and businesses. Check it out below.
Key news highlights. What’s going on in the world of Blockchain?
Tezos Co-Founder Sanctioned By US Financial Watchdog
Tezos co-founder Arthur Breitman allegedly failed to disclose his involvement in developing and pitching for Tezos while employed at investment bank Morgan Stanley. This sanction comes at a time when Tezos is still under close scrutiny in various legal cases since its ICO in July 2017, alleging it violated U.S. laws by issuing tokens that are in effect unregistered securities.
Another Chinese City Is Backing a Big Blockchain Investment Fund
The city government of Shenzhen, China, is backing a dedicated blockchain investment fund, soon after Hangzhou city supported a similar effort. The fund aims to invest 500 million yuan ($80 million) in blockchain startups in Shenzhen during its first phase. Notably, through a public-private partnership, 40 percent or $32 million of the fund will come from an angel fund that was launched in late March by the Shenzhen municipal government.
South Korean Crypto Exchange Coinone Eyes Indonesian Expansion
As the South Korean government steps up its monitoring of cryptocurrency trading, one of the country’s top exchanges is expanding into Southeast Asia. Coinone, a partner of local bank Nonghyup, announced plans to move into Indonesia, citing the Southeast Asian giant’s “high economic growth rate and the world’s fourth-largest population,” plus its high potential for growth in the fintech industry.
Major Investors Met with SEC to Discuss Crypto Exemption
Many cryptocurrencies are currently in danger of being classified as “securities,” which would place them under strict regulatory scrutiny. Venture capital firms Andreessen Horowitz and Union Square Ventures, along with law firms, have formed a “Venture Capital Working Group” to meet with the U.S. Securities and Exchange Commission (SEC) to develop a “safe harbor” for specific digital currencies (including Ether) and establish long-term proposals for how they should be viewed and handled.
Inside the Jordan refugee camp that runs on blockchain
The blockchain project Building Blocks helps the World Food Programme distribute cash-for-food aid to over 100,000 Syrian refugees in Jordan. By the end of this year, the program will cover all 500,000 refugees in the country. If the project succeeds and overcoms some of its existing limitations, it could eventually speed the adoption of blockchain technologies at sister UN agencies and beyond.
The latest insights, thoughts, and analysis from the Intrepid Team
Blockchain and Compliance: Taming the Regulatory Beast
With the myriad of legal action taken against non-compliant ICOs and more governing bodies around the world attempting to regulate the industry, here’s an article on how blockchain and Distributed Ledger Technology can play a part in transform digital identity, KYC, and AML for efficient regulatory compliance.
Articles, white papers, ebooks, and more
What is Ethereum Casper Protocol?
Most of us interested in blockchain are aware of the terms proof-of-work (PoW), proof-of-stake (PoS). These terms are everywhere but it’s easy to get confused and disoriented with all the information out there. This article provides a crash course into what PoW is, the limitations with PoW, how PoS works and how it would work under Ethereum Casper models.
Here, There is No State
Here’s a chapter from the book “The Satoshi Revolution: A Revolution of Rising Expectations”, which discusses the power of decentralisation and how cryptocurrency can potentially evolve. The decentralization of crypto is what yanked financial control away from concentrated authorities, like central banks, and into the hands of individuals. Which is true of crypto?–is it decentralized, a new form of centralized fiat and banking, or a hybrid?
No, Visa Doesn’t Handle 24,000 Transactions Per Second (TPS)
When it comes to measuring the speed of new blockchains, the comparison is always with Visa. Despite not being a blockchain, the 24,000 transactions per second Visa reportedly handles have attained mythical status and has been unquestioningly trotted out whenever scaling is discussed. In reality, claims of Visa’s throughput, as well as those of emerging blockchains, have been greatly exaggerated.
Updates on what we’re up to and our upcoming events
The Metabase Whitepaper
We’re very excited to share the Metabase whitepaper with you. Metabase is a blockchain platform to build and scale next-generation businesses. The first truly extensible blockchain system for running distributed applications across a variety of uses cases. Read the whitepaper and to find out more check out the rest of the website.
Interested in learning from leading entrepreneurs in the blockchain world? Check out our Founders in Focus interview series on YouTube. A show where we uncover the personal stories and journeys of founders and innovators from the crypto sphere.
Julien Breteau is Head of Content Marketing at Intrepid Ventures, a blockchain venture studio. He’s focused on championing Intrepid’s mission, delivering thought-provoking, high-quality content and engaging with Intrepid’s growing communities around the world.