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Cryptocurrency End of Day Recap

May 21, 2018

  • Blockchain startup ShareRing is developing a mobile application to consolidate sharing services worldwide. The sharing economy is currently valued at over USD$100bn according to Brookings. CEO of ShareRing, Tim Bos, spoke with the Australian Financial Review and said “[his] vision is that you’ll be able to rent a lawnmower in Melbourne one week on [their] platform and a bike in Beijin the next, and you won’t have to pay any forex fees, and both those providers will have instant verification of who you are”
  • Polish Finance Ministry is rolling back a cryptocurrency tax and is making promises to provide smarter regulation. The ministry will be conducting an “in-depth analysis” of the crypto space to create better regulation and taxation policies going forward. Poland’s Financial Supervision Authority (KNF) placed a tender offer last week for a company to conduct a social media campaign about the dangers associated with cryptocurrencies, pyramid schemes and forex trading
  • Walmart has submitted a patent application to track items the store sells to customers. The proposed system would allow a customer to register the item after it is purchased. Then the customer can choose a price for resale and the system will act as a digital marketplace. In other words, a secondary marketplace can be made from Walmart bought goods using blockchain technology from Walmart for verification of the good
  • China’s Ministry of Industry and Information Technology (CCID) is expecting 2018 to be another blockbuster year for China’s blockchain industry. In a whitepaper published yesterday, 249 deals involving blockchain companies have already occurred YTD. China’s own technology giants such as Alibaba,, Baidu have been focusing resources on implementing blockchain into their companies’ future