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Malta’s Prime Minister declared to the United Nations General Assembly that cryptocurrencies are the inevitable future of money while cryptocurrencies are in the red

Oct 01, 2018

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Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$6574.21 -0.03% -0.33% -0.37% USD$113,731,545,005 USD$3,966,542,066
Ethereum ETH USD$229.43 0.18% -0.39% -0.91% USD$23,472,557,703 USD$1,643,747,113
XRP XRP USD$0.59 7.08% 2.28% 15.39% USD$23,372,215,846 USD$1,324,399,770
EOS EOS USD$5.69 0.16% 1.67% 0.16% USD$5,153,360,030 USD$734,216,282
Litecoin LTC USD$60.2 0.51% -0.54% 3.49% USD$3,523,967,636 USD$473,495,064

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
NEM XEM USD$0.1 -1.09% 5.71% 5.31% USD$918,079,915 USD$15,451,249
XRP XRP USD$0.59 7.08% 2.28% 15.39% USD$23,372,215,846 USD$1,324,399,770
EOS EOS USD$5.69 0.16% 1.67% 0.16% USD$5,153,360,030 USD$734,216,282
Stellar XLM USD$0.26 -0.44% 0.36% -1.58% USD$4,829,719,207 USD$68,563,091
Bitcoin Cash BCH USD$526.61 0.04% 0.24% 13.18% USD$9,151,920,388 USD$466,326,763

Crypto News

  • According to research by Hong Kong cryptocurrency trading platform, BitMEX, initial coin offerings (ICOs) have roughly broken even on funds sold versus funds they have raised. The research, conducted alongside crypto analytics resource, TokenAnalyst, finds that ICOs have realized close to USD$727 million in profits while ICOs have about USD$93 million in unrealized profits. This means that ICOs have not suffered much due to Ethereum’s price decline in 2018, as they have sold roughly as much Ethereum as they have raised.  
  • Big four audit and consulting firm, Deloitte, outlined the five basic areas of development for blockchain technology to achieve widespread adoption in a study published Friday. The five areas of development highlighted by Deloitte includes lack of standardization, high costs and complexities of blockchain applications, regulatory uncertainty, absence of collaboration between blockchain-related firms, and time-consuming operations.  
  • China’s oldest technology publication, the Beijing Sci-Tech Report, has announced that it would soon begin accepting Bitcoin as payment on its platform. Starting in 2019, the Beijing Sci-Tech Report will sell its annual subscription at a cost of 0.01 Bitcoin, worth roughly USD$65. The announcement by the Beijing Sci-Tech Report comes as cryptocurrency trading and usage is strictly banned in China.  
  • Ethereum co-founder and founder of ConsenSys, Joe Lubin, has made a USD$6.5 million investment to lockdown a minority stake in DrumG Technologies, an enterprise distributed ledger startup. Reported by Forbes today, the investment will enable Lubin to join DrumG as an independent board member, ensuring that DrumG will have a “significant presence” within the ConsenSys ecosystem.  
  • In a Special Report released by the Financial Times on Monday, cryptocurrencies were identified as one of the largest changes in financial markets in the last 10 years. The report highlights problems cryptocurrencies have faced, including regulation, while highlighting cryptos as a major change in financial markets alongside events like Brexit and the emergence of new markets.  
  • Sia blockchain will soon enact a software chain that will block certain types of specialized mining hardware from their platform. This “hard fork” will essentially mean hardware developed by Obelisk will be one of the only ways to mine and collect rewards from the Sia blockchain.  Obelisk is a subsidiary of Nebulous, the for-profit company that developed the distributed storage protocol behind the Sia blockchain.  
  • The Hyperledger Project and the Enterprise Ethereum Alliance announced Monday that the two enterprise blockchain firms have agreed to collaborate to bring a set of common standards to the blockchain space, enabling a wider open-source community. This is notable, as the Hyperledger Project and the Enterprise Ethereum Alliance are two of the three largest and most influential enterprise blockchain communities.  
  • The Prime Minister of Malta, Joseph Muscat, declared in a speech to the United Nations General Assembly that cryptocurrencies are “the inevitable future of money.” The Prime Minister went on to say that blockchain technology can facilitate a more transparent and equitable society while arguing that decentralized ledger technologies will transform political, civil, and corporate systems. Muscat professed that distributed ledger technologies can ensure that “no one is deprived of legitimate property because of compromised data” and that “corporations can become more accountable to their shareholders.” 
  • While taking the stage at Ripple’s Swell conference in San Francisco, former US President, Bill Clinton, warned that over-regulation could stop blockchain technology’s growth. Clinton was on-stage with Gene Sperling, one of the former president’s advisers in the White House and now a member of Ripple’s board of directors. 

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://cointelegraph.com/news/bitmex-research-icos-have-sold-almost-as-much-as-they-raised 
https://cointelegraph.com/news/deloitte-outlines-five-major-obstacles-to-blockchains-mainstream-adoption 
https://www.ccn.com/a-heart-beat-chinas-oldest-tech-publication-to-accept-bitcoin-payments/ 
https://cointelegraph.com/news/consensys-invests-in-blockchain-startup-founded-by-rival-r3s-former-execs 
https://cointelegraph.com/news/ft-highlights-crypto-as-one-of-last-10-years-biggest-changes-in-financial-markets 
https://www.coindesk.com/kill-switch-engaged-sia-blockchain-to-block-bitmain-and-other-big-miners/ 
https://www.coindesk.com/ethereum-enterprise-alliance-hyperledger-blockchain-consortiums-join-forces/ 
https://cointelegraph.com/news/maltas-prime-minister-tells-un-that-crypto-is-the-inevitable-future-of-money 
https://bitcoinist.com/malta-to-united-nations-cryptocurrency-is-inevitable-future-of-money/ 
https://www.coindesk.com/bill-clinton-ripple-event-blockchain-regulation/