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Cryptocurrency Midday Report

May 29, 2018

  • China’s internet security firm, 360, released a report detailing several high-risk vulnerabilities in the EOS blockchain. Its mainnet release is scheduled for June 2nd and now the platform faces a questionable situation. EOS is trading up +2.36% from last night’s UTC close. The firm stated that the EOS blockchain is exposed to the potential risk of a remote arbitraty code attack; an attack that allows hackers to remotely infiltrate the protocol’s nodes and eventually take full control of the system.
  • South Korea’s national legistlature has proposed to allow domestic initial coin offerings, lifting the ICO ban imposed by the government in September of last year. The next step is for the administration to discuss the proposal with the government Assembly. The country is looking to establish a legal basis for cryptocurrency trading, including permissions for ICOs, through the National Assembly Standing Committee.
  • PwC Australia, the Port of Brisbane, and the Australian Chamber of Commerce and Industry have partnered to release a blockchain-based supply chain management proof of concept (PoC). The digital application will connect commercial operators across an international supply chain. Currently, 9mm containers are shipped from Australia’s major ports each year and by 2025 the expected number is 15mm. This partnership will address cost inefficiencies (USD$450 in excess costs per container), and USD$1bn in value lost each year.
  • MillionCoin has developed a platform geared towards investors to streamline the complete cryptocurrency investment process. The firm has developed a trading system which allows transactions on cryptocurrency exchanges to be completed automatically by a bot. MillionCoin has developed a system where ready-made trading plans can be followed. The company also plans to include specialist advice on the legal and tax issues associated with trading cryptocurrencies
  • Major cryptocurrencies are mostly higher as of Midday (see table below). Of the thirty cryptocurrencies Quantamize models with its machine learning algorithms, 2 out of 30 are "Buys"

  • Sources:

https://cointelegraph.com/news/s-korea-financial-regulator-sympathizes-with-demands-to-end-crypto-blockchain-regulatory-split

https://news.bitcoin.com/south-koreas-national-assembly-officially-proposes-lifting-ico-ban/

https://cointelegraph.com/news/australia-pwc-chamber-of-commerce-port-of-brisbane-partner-for-blockchain-pilot

https://btcmanager.com/security-vulnerabilities-found-in-the-eos-blockchain-mainnet-launch-could-be-delayed/

https://cointelegraph.com/news/ecosystem-brings-online-marketplace-automated-crypto-trading-and-tax-advice-in-one-place