Blockchain News 06.09.2018

Coinbase explores Bitcoin ETF with help from Blackrock

Coinbase is looking to create an exchange-traded product tied to crypto, according to people familiar with the matter, as a way to allow retail investors to gain access to the volatile market. In recent weeks the firm has held conversations with members of BlackRock’s blockchain working group to tap into the firm’s expertise with launching exchange-traded products.

Coinbase had announced an index fund, 6 months ago, of cryptocurrencies aimed at accredited investors. An ETF, however, is geared towards more mainstream investors. If Coinbase were to develop a crypto ETF, it would join a number of other firms also looking to launch their own, including rival Gemini, Bitwise Asset Management, and VanEck.

Chinese city uses blockchain to track the movements of convicts on parole

Convicts on parole in the southern Chinese city of Zhongshan can now find themselves being tracked over a blockchain network. The justice department of Zhongshan says it has launched a blockchain-based system to monitor the movements of ex-prisoners to improve the quality of so-called “community correction.”

Parolees are required to check in and complete daily duties thereby providing up-to-date data on each convict’s movements, so community correction staff and relevant law enforcement agencies who are given access to the network are able to know a convict’s whereabouts at any time, and thus can take necessary measures if one is breaking from the required routine. The justice department claimed that the technology is able to reduce the manpower burden that is traditionally required to physically follow parolees when ensuring they are obeying laws and performing community service.

High Times accepts Bitcoin for its IPO

The cannabis publication High Times is accepting cryptocurrency for its ongoing initial public offering (IPO). High Times representative Jon Cappetta confirmed that the company is accepting Bitcoin as a payment option. Cappetta said that a regulatory filing (indicating otherwise) was made “to make the SEC happy.”

It’s worth noting that Fund America is being used to instantly convert the crypto into US dollars. High Times’ IPO itself is going well, Cappetta said, and the company is looking at a direct listing as a result. “The Regulation A [fundraising] is going to close on the 12th of this month, and then from there we will begin the listing process” he said.

Kraken Daily Market Report for 05.09.2018


$172M traded across all markets today

Blockchain News 06.09.2018

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