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Cryptocurrency Midday Report

Jul 09, 2018

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  • Grayscale investments believe that digital assets should be a part of beta portfolios. The firm released a new research paper which claims that digital assets fit into the risk-return model – Modern Portfolio Theory (MPT). Before issuing the paper, the firm wanted to test its hypothesis that digital assets have a place within Modern Portfolio Theory. The firm highlights that diversifying into digital assets provides investors a “free lunch” where efficiency of beta portfolios is improved, and risk is not undermined. The firm states that digital assets are not correlated to other asset classes and that investors are under-allocated to the asset class.
  • Ethereum creator, Vitalik Buterin said that in the long run, blockchains will work together to optimize the process of processing and settling information. Parity technologies, one of Ethereum’s most advanced clients, has built a project called Polkdadot. This project focuses on creating an ecosystem of multiple blockchain networks that can work together and transmit data. An example that Polkadot provides is that in a decentralized multi-chain environment, users from Bitcoin will be able to post transactions to the users of Ethereum and developers on Cardano can send smart contracts to the developers on the Ethereum protocol.
  • The European Union has awarded 20 million to IOTA and CityxChange for a smart city project.  IOTA will innovate the European cities of Trondheim, Pisek, Sestao, Limerick, Smolyan, Alba Iulia, and Voru. The project aims to enhance the quality of life of people residing in these cities, as well as aid in the interactive communication between these cities.
  • Sergey Brin, co-founder of Google, spoke at a blockchain conference in Morocco and expressed his fascination with cryptocurrencies and blockchain technology. Brin said him and his son have been mining Ethereum for over a year now.  While he admits that Google has fallen behind on adopting blockchain technology, he finds the potential of the technology to be “extraordinary.”