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Cryptocurrency End of Day Report

Jul 16, 2018

 

 

  • China’s Ministry of Industry and Information Technology (MIIT) deputy director Xin Guobin has insisted the country begin more adoption of blockchain technology for the future of its digital economy.  Guobin explained that blockchain tech can increase the efficiency of industries such as “finance, e-commerce, smart medical care, social security, Internet of Things, energy and other fields,”1 and he wants to see blockchain increase its adoption across the economy and society.
  • The Chartered Financial Analyst (CFA) Institute, one of the most renowned financial institutes in the world, will be adding blockchain and cryptocurrency sections to its curriculum starting in 2019.  The material will be included in a broader subject-area called Fintech in Investment Management. Prospective analysts will also be tested on these topics regarding professional ethics. In addition to this other fintech industries such as machine learning and artificial intelligence will be included also.
  • This past weekend, the Ethereum (ETC) network experienced widespread congestion and skyrocketing GAS (GAS) prices.  EOS (EOS) is accused of leading the network overload by use of spam transactions from a Decentralized App (DApp). 40% of the Ethereum network was said to be used by one smart contract creating useless tokens called “IFishYunYu”, which was funded by an address with a supposedly large amount of crowdfunded EOS. Dan Larimer, EOS’s architect denies claims that this was done purposely to attack the ETH network.
  • Change.org, a popular online petition platform, recently developed a screensaver for Windows that users can install that will mine Bitcoin (BTC).  Since only one computer mining Bitcoin is not profitable anymore, the screensaver is hoped to be downloaded by many people whose processing power can be pooled together. All proceeds from the Bitcoin mining will fund the Change.org Foundation.

Sources

  1. https://cointelegraph.com/news/china-s-it-ministry-says-blockchain-should-be-developed-on-industrial-scale
  2. https://bitcoinmagazine.com/articles/future-analysts-will-be-tested-cryptocurrencies-new-cfa-curriculum/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+BitcoinMagazine+%28Bitcoin+Magazine%29#1531762954
  3. https://www.coinspeaker.com/2018/07/16/eos-accused-of-spam-attack-leading-the-ethereum-blockchain-to-overload/
  4. https://www.newsbtc.com/2018/07/16/change-org-creates-the-mining-screensaver-to-benefit-its-foundation/