Blockchain News 18.07.2018

3 Bitcoin mining firms valued at over $1B

Three Bitcoin mining companies have joined a list of “unicorns” – private companies valued at over $1 billion – for the first time. Bitcoin mining firms: Bitmain, Canaan Creative and Ebang are among firms in the list of 130 Chinese unicorns, the list has never before featured a fully cryptocurrency-focused firm.

Ranking highest of the three, Bitmain appears at 13th on the list with a valuation of $10 billion, close to other notable companies such as JD Logistics. The ranking follows recent news indicating that Bitmain has completed a Series B round funding that could value the firm around $10 billion ahead of a potential initial public offering (IPO). Meanwhile, Hurun values Canaan and Ebang at around $3 billion and $1.5 billion, respectively.

Mastercard files patent to speed up crypto payments

Mastercard, the world’s second-largest player in the 2.2 trillion dollar payments sector, has been granted a US patent for a new process to speed up cryptocurrency payments.

The company says for cryptocurrencies to become widely accepted by merchants, retailers, service providers, and other purveyors of goods and services, the processing time needs to be much quicker. Mastercard went on to say “Processing times, currently around ten minutes, should be aligned with that of traditional fiat payment transactions which have processing times measured in nanoseconds.”

Decentralized capital launches Australia’s first cryptocurrency vault

Blockchain & investment company Decentralised Capital announced the launch of Australia’s first cold storage vault for digital assets. “Australasia’s first insured cryptocurrency vault” was created in partnership with a precious metals vault firm. Stephen Moss, founder and director of Decentralized Capital, stressed the industry’s need for secure and reliable crypto custody services: “This is a solution for the next phase of the industry and it gives real security…You can’t hack your way into the safe.”

The custody service gives its users direct access to their crypto funds using security measures including CCTV monitoring, physical surveillance, biometric identification, PIN codes, alarm systems and fire control systems. Speaking on the growing crypto custody market, the partnering custodian vault’s Director Janie Simpson said: “We are increasingly receiving interest from clients searching for solutions to store cryptocurrency.”

GMO’s new internet bank will settle payments with blockchain

Japanese digital services firm GMO Internet has just launched a new web bank that it says will soon use blockchain to facilitate payments. The “next-generation” bank said it is working with GMO Internet “to develop a new settlement system utilizing blockchain technology… there is an increasing expectation for breakthroughs for safer and cheaper payments and financial services.”

The new entity – dubbed GMO Aozora Net Bank – aims to provide new financial services through the integration of fintech and IT, and will leverage advanced security certificates, blockchain, artificial intelligence and internet of things, according to the document.

Billionaire Marc Lasry sees Bitcoin reaching $40,000 as it becomes mainstream and easier to trade

The price of Bitcoin could reach up to $40,000 as it becomes more mainstream and easier to trade, billionaire investor Marc Lasry said on Wednesday. Lasry said: “As it gets more into the mainstream, and as more markets end up allowing it to trade where it’s freely tradable, to me that’s more of the bet,” adding he sees Bitcoin investors making 5 to 10 times their money in 3 to 5 years.

Lasry expects Bitcoin will have the most benefit for investors out of all the cryptocurrencies, saying “the reason why I like Bitcoin is because it’s the one everybody is going to come to.”

Kraken Daily Market Report for 17.07.2018


$203M traded across all markets today

Blockchain News 18.07.2018

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