Cryptocurrency End of Day Recap
Jun 28, 2018
- SolarisBank, a fully licensed German bank is now offering blockchain companies in the European Economic Area (EEA) to conduct business with them. In the past, these companies’ bank account needs were not met by most other German banks. SolarisBank is doing this through its ‘Blockchain Factory’ and offers these customers access to a ‘blockchain company account’, but this account can only be opened using fiat currencies. Additionally, SolarisBank is offering a service to aid global cryptocurrency exchanges in the purchases and sales of fiat currencies.
- Blockchain, a global cryptocurrency company, has launched a platform to help increase institutional investors’ exposure to the cryptocurrency market. This platform is called Blockchain Principal Strategies, and will give these investors access to an over-the-counter (OTC) trading desk. Those managing this OTC desk will be professionals from Goldman Sachs, Cooley, UBS, and JP Morgan. Blockchain also mentioned that users will be given early access to initial coin offerings (ICOs) and direct investments to digital currency companies.
- Diar.co, a digital assets industry newsletter, has examined statistics regarding Bitcoin’s Lightning Network, and identified that the network can only promise the successful completion of transactions under three cents. This is said to be due to the immaturity of the lightning network, since the largest node only consists of 2.6BTC. To the network’s defense however, it is still in beta form, and the nodes are growing very rapidly.
- In the technology industry, there are many instances of incredible innovation, two current examples of this include Artificial Intelligence (AI), and blockchain technology. While quite different from eachother, companies DeepBrain Chain, Numerai, and the platform Matrix AI Network are all using AI and blockchain in tandem to develop new applications. DeepBrain Chain is using blockchain technology to help significantly lower the cost of developing AI computations. Numerai is an AI-integrated hedgefund that is powered by blockchain technology. Lastly, Matrix is using AI technology to optimize its blockchain platform which designs and supports smart contracts.