The Jamaica Information Service (JIS) recently reported that the government is actively “building cryptocurrency awareness.” The statement was provided on Wednesday, by the Bank of Jamaica (BOJ) Deputy Governor Livingstone Morrison, at the central bank’s quarterly media briefing.
Morrison says the central bank must create opportunities for the exploitation of certain technologies, including cryptocurrency, while pointing out that such technologies should not pose undue risk to the local financial system.
The Bank has also established an internal group of persons who are working to build awareness of these kinds of technological happenings across the world. The group are also guiding regional efforts.
Decentraland had its Initial Coin Offering (ICO) last week, but sold out so fast that the vast majority of users waiting for the launch never got any of their orders filled.
Roughly 10,000 potential investors lined up to grab some of the native tokens, MANA. “Due to the overwhelming response to the project, almost 7,000 transactions did not go through, which resulted in a lot of disappointment,” the leader developer said on Saturday.
The architect known for conceptualizing the Lightning Network, an off-chain scaling solution for Bitcoin, has done it again. On August 8, Joseph Poon, and Ethereum’s Vitalik Buterin, published a white paper titled Plasma: Scalable Autonomous Smart Contracts.
Poon first conceived the high-level construction for Plasma in mid-2014, before the Lightning Network paper was published, before Frontier was released on Ethereum, and when scaling on Bitcoin Talk was just a theoretical slow moving disaster.
This time a year ago, one might have been forgiven for thinking that Bitcoin had exhausted its fair share of newsworthy scandals. But the past several months have proven that this technology, although no longer nascent, shows no signs of becoming boring any time soon.
With the recent hardfork and the creation of the first alt-bitcoin, Bitcoin Cash (BCH), the news of developments in the MtGox saga late last month was relegated to the status of mere background noise among media outlets covering the crypto space. This is understandable, given that increasingly few players in today’s crypto ecosystem have been around long enough to remember the theft, or to have been affected by it. However, for those who have been following Bitcoin since the earlier days, any progress in solving the mystery of the MtGox heist is still considered big news.
Application coins, or “appcoins,” are being minted at an astounding rate. Many of these coins have gone through a fundraising process named Initial Coin Offering (ICO), token sale, or token distribution event.
The company behind the 0x project, Zero Ex Intl, recently raised US$24 million in a token sale utilizing a sybil-resistant distribution process by using Linny Vingham’s Civic mobile application. 50% of a total 1 billion tokens were distributed to sale participants, who were limited to 20 ether’s worth of ZRX per account.
On May 23rd the Digital Currency Group released a statement declaring that 58 signatories had agreed on a way to end Bitcoin’s ‘scaling debate’.
Known as the New York Agreement (NYA) it was said to be a compromise between the two sides of the debate — those who want to achieve scaling through Segregated Witness (Segwit) and those who prefer to scale by increasing the block size. It consists of two sequential phases — to activate Segwit using BIP 91 (making it compatible with the UASF) and then to hard fork the base block size to 2 MB ninety days later.
Blockstream has just announced that the Bitcoin blockchain is now being broadcast from space. The new service, Blockstream Satellite, streams data down to much of the planet’s surface for free, in order to boost the connectivity, decentralization, redundancy, affordability, security, privacy, and ultimately adoption of Bitcoin.
“Blockstream Satellite enables further participation in Bitcoin,” states the company, “including the billions of people in the world without internet access and people in places where bandwidth prices make participating cost-prohibitive.”
The month of August has been excellent for Bitcoin as it continues to push all-time highs (ATHs). With the Bitcoin Cash split now history, many investors have likely re-entered.
Market cap made a new high of $71.6 billion, higher than that of PayPal and approximately the GDP of Oman.
A lack of liquidity will haunt the Initial Coin Offering market. The problem is that there are too many currencies. Without enough liquidity, we will see great participation by buyers with no support from market makers and no buyers for the cryptocoins that the ICO company wants to convert into flat cash.
Leading bitcoin brokerage Coinbase recently raised US$100 million in a Series D funding round, which values the company at US$1.6 Billion. The round was led by IVP, with participation from Spark Capital, Greylock Partners, Battery Ventures, Section 32 and Draper Associates.
Founded in 2012, Coinbase is one of the world's largest digital currency companies. The company is best known for its hybrid Wallet and Exchange service, but has been focusing on becoming a retail and institutional exchange. According to the company, 9.2 million customers have 30.4 million wallets on the platform so far.