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Cryptocurrency Midday Report

Jul 26, 2018

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  • GBX Digital Asset Exchange, a subsidiary of Gibraltar Stock Exchange, launched earlier this week. The Gibraltar Stock Exchange operates in the EU and is regulated by the GFSC. Users can fund their accounts in USD$, and have to follow the exchange’s know-your-customer (KYC) requirements before trading. The platform allows the trading of six cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).
  • The Universal Protocol Platform (UPP), a platform focused on the interoperability of blockchain assets has announced leading digital asset management firm FBG Capital as the main investor.  UPP plans to launch a digital reserve ecosystem allowing digital assets and currencies to be transferred across decentralized networks. UPP will use their native UPP Proxy token as representation of other assets, to aid in the decentralized transfer.
  • Decenturion, constituted this past January, claims to be the world’s first decentralized blockchain-based digital state. Decenturion has appointed blockchain expert and founder of ICOBox, Nick Evdokimov, as its Minister of Information. The blockchain-based state has no central person of power, but is rather governed by passport holders’ voting using smart contracts.
  • After China’s recent vaccine scandal, software company YLZ Info has announced its plan to work with Ant Financial on a blockchain solution for tracking the vaccine supply chain in China.  Following the announcement, YLZ’s stock surged ~50% on the Shenzhen Stock Exchange.  Because of this, the Shenzhen Stock Exchange, which also works as a regulator sent YLZ Info an enquiry demanding more information about their blockchain R&D, and the partnership with Alibaba-owned Ant Financial.