You are invited to d10e Tokyo on April 28 — May 1 to enjoy:
* Exclusive networking opportunities with blockchain investors
* Pitch Competition ($100,000 prize to top 3 winners)
* local cultural excursions
* 70 local and international speakers
* 1,000+ participants from 50+ countries
d10e conferences have been at the heart of disruptive fintech, blockchain, and decentralized technology since 2014. Alongside events hosted in Amsterdam, Bucharest, Davos, Gibraltar, Kyiv, Ljubljana, San Francisco, Seoul, Silicon Valley, Singapore, Tel Aviv, Vilnius and Warsaw, d10e is now the leading conference on decentralization, exploring the future of fintech, ICOs, blockchain, the sharing economy, and the future of work and culture.
The high figure of financial firms interested in cryptocurrency trading in the nearest future signifies the possibility of entry of more institutional money in cryptocurrency markets. Moreover, 70 percent of firms showing this interest will trade cryptocurrencies in the next three to six months.
One in five financial firms are considering trading in the next 12 months, says a survey by Thomson Reuters. Moreover, 70 percent of those showing this interest are planning to trade in the next three to six months. 22 percent say they will trade in 6 to 12 months.
The new survey involved 400 people across its trading solutions including Eikon and REDI, as well as its FX platforms. These included hedge funds, large asset managers, and trading desks at the biggest banks. Reuters said the result showed that cryptocurrencies were now widely known or rather more people are familiar.
Neill Penney, co-head of Trading at Thomson Reuters said although the cryptocurrency market is relatively small part of the entire financial market, the survey showed that the niche segment is “starting to enter the mainstream of the financial services industry.” He added that this was a major change from a year ago.
The news is optimistic about rising cryptocurrency markets. It comes even as the value of cryptocurrencies continued to pick up. The news adds to Monday’s news that Goldman Sachs made its first hire for cryptocurrency markets. The bank acknowledged last month that they are planning to trade cryptocurrencies. These are likely to continue boosting markets this week.
Specifically, the news signifies that more institutional money is about to enter crypto trading and business. This is according to according to Brian Kelly, founder, and CEO of BKCM.
The potential for more application of smart contracts
Thomson Reuters, which has operated in more than 100 countries for more than 100 years also provides prices for cryptocurrencies through its flagship financial desktop platform Eikon, as well as MVIS indices and CME bitcoin futures.
The company also recently launched MarketPsych Indices that scan and capture cryptocurrency news and social media sites and scores them in real time so as to capture market-moving sentiments.
The company focused on exploring the application of smart contracts through the provision of market data with BlockOne IQ platform, an Oracle framework for privately distributed ledgers operating on Corda or Ethereum.
Sam Chadwick, director of a strategy in innovation and blockchain at Thomson Reuters said,
“Throughout 2017 though, it’s been clear that beyond the potential use cases of smart contracts, industry participants are increasingly seeing the potential of crypto assets as a new asset class as it provides financial institutions with operational effectiveness and is starting to become an asset that their institutional clients are increasingly interests in holding as part of a diversified portfolio.”
Japan’s Licensed Crypto Exchanges Launch Self-Regulatory Body
16 cryptocurrency exchanges in Japan are joining hands to help come up with guidelines that will restore customer confidence. This include guidelines for ICOs and trading.
16 licensed Japanese cryptocurrency exchanges have launched a self-regulatory body that seeks to restore confidence in the market after the $530 million Coincheck theft in January.
The ‘Japanese Cryptocurrency Exchange Association,’ as the body is called, will develop standards for the industry, then create guidelines for ICOs in the country, in association with the Financial Services Agency (FSA).
It is an association of the two major cryptocurrency trade bodies in Japan, namely Japan Blockchain Association (JBA) and the Japan Cryptocurrency Business Association (JCBA).
The association will also start working on a framework comprising of rules for customer protection, internal controls and compliance. Members will need to adhere to guidelines or face penalties. Fines will also apply where members are in conduct that undermines public confidence and trust. This will include rules of transactions and advertisements and the information they disclose to third parties. Their working together will help eliminate customers’ concerns and restore confidence in the markets.
The group will also provide guidelines and advice for cryptocurrencies working without license.
The currency exchanges under the new body are registered under FSA. They include Money Partners, QUOINE, bitFlyer, Bit Bank, SBI Virtual Currency, GMO Coin, Bit Trade, BTC Box, BitPoint Japan, DMM Bitcoin, Bit Argo Exchange Tokyo, Bitgate, BITOCEAN, Fiscalo Currency Exchange, Xtheta and Tech BURO.
The chairman of the new group is president and CEO of Money Partners Taizen Okuyama. Therefore, the company acquired Coincheck for $33.5 million this month.
There were previous reports that the two main trade bodies would come together. Japan is lauded as one of the few countries to have a working cryptocurrency regulations. However, that puts into consideration customer protection while regulating the exchanges.
Tech Giant Cisco Applies Patent for Bitcoin Mining
On Tuesday, Cisco Network tech giant won a patent which was applied to the bitcoin mining process. According to U.S Patent and Trademark Office, the firm submitted the patent application early in September 2015. The patent was mainly for a crowd-sourced cloud computing system.
The patent blueprints on how computer owners will be able to provide their unused processing power for certain processes. Basically, it includes the energy-intensive mining process. It elaborates how a user could partition their resources to create dedicated computing power for a cloud application. The cloud application is utilized for various purposes.
Cisco cites as follows
“This model is suitable for, among other things, offering distributed processing and services that can be optimized for speed, volume, scale and resiliency, cost, and regulatory compliance–for example, distributed neighborhood theft protection systems, or cluster, city or municipality county relevant services… One such case involves bitcoin mining, which may be very computationally intensive and is typically more convenient for every participant when done in ‘mining pools.”
Cisco proclaims the advantages of distributed processing in the filing. The system can easily scaled and buoyant against certain forms of attack.
The company asserts that the service provider can use geographic distribution to offload or optimize network loading, as well as to resell large-scale, low-cost computing and storage capacity.
Cisco is one of well-known enterprise technology firm which research applications of the blockchain. It specifically researchers in the field of connected devices or the Internet of Things. The company is approving patents for other uses of the blockchain. It also includes one which clouts the tech and tracks the data for group chats.
Bitcoin gained 20 percent last week and then a months-high on Tuesday, although the price is below half of its December high of $20,000. A new resistance price of $12,000 is predicted.
Bitcoin gained around 20 percent in the last week and was trading above $9,400. This is its highest level in months of sell-off. Bitcoin is just starting to recover from a 48 percent loss of value in three months.
It is also a rebound from Tax-Day fears when many sold to avoid huge taxation of their holdings. Again, it signifies some recovery from increased regulatory scrutiny and the banning of cryptocurrency ads by various companies including Google, Facebook, and Twitter.
Founder and CEO of BKCM predicted on Tuesday that Bitcoin will reach a new resistance of $12,000. He also recently echoed statements by venture capitalist Tim Draper that Bitcoin will hit $250,000 within four years.
A partner at Blockchain Capital Spencer Bogart said Bitcoin is appealing for investors selling on the macroeconomic news this week.
This is even as other markets moved in the opposite direction as of Tuesday. This is due to increasing interest rates and comments from a conference call by Caterpillar.
At the same time, Dow Jones industrial average dropped 400 points, representing a more than a 750 points drop from its session high to lows during the day. S&P 500 dropped by 1.3 percent while Nasdaq composite fell by 1.7 percent.
Other cryptocurrencies follow suit
Other cryptocurrencies in the top ten list by market cap echoed the same trend. They traded higher on Tuesday. Ethereum, for instance, rose 10 percent and Ripple was up by more than 7 percent.
Further, prices for Bitcoin Cash jumped up on April 24 after BitPay announced that it will allow brick-and-mortar businesses to use Bitcoin Cash for payments. Already available to Bitcoin users, the service will allow people to choose between BTC or BCH payment methods. The cryptocurrency gained by almost 19% after BitPay’s announcement.
North Caroline State Regulators Suspended Another Crypto-Exchange
State regulators have permanently suspended a foreign cryptocurrency trading from organizing its “scheme” in North Carolina. This for the second time, State regulators have shut down cryptocurrency trade.
Crypto Exchange are relocating to Malta for Legally Trading Cryptocurrencies
The cryptocurrency exchanges have found the new port in an island of Mediterranean Sea. Many cryptocurrencies have started trading in Malta. It is eminent for exploring the blockchain space. This land is well-known for its contribution towards cryptocurrency business and investors.
CEO of Nasdaq Says that it is Planning to Become Cryptocurrency Exchange.
Bestowing to CEO of Nasdaq, the company is planning to become a platform for trading cryptocurrencies like Bitcoin. Adena Friedman asserts to CNBC’s that “Certainly Nasdaq would consider becoming a crypto exchange over time.”
Cryptocurrency rules in South Korea is often a topic of concern – According to the recent report, South Korean cryptocurrency exchanges are announcing new self- regulatory rules and will have self-inspection as well.
Hackers appear to be targeting YouTubers exposing details about their trades such as usernames and addresses and the tools they use. Balina, Saddington and Bosak lost cryptocurrencies by way of their accounts being hacked. They say they have learned their lessons to not expose their trades and the tools they use, on YouTube through vlogs or other videos.