Blockchain and Cryptocurrency News Roundup

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  • May 18, 2020
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18 May 2020.

The Bitcoin halving has come and gone, and a lot has happened since the event. We’ve gathered some of the industries biggest headlines from the last week.

Japanese Credit Card Issuer to Build Blockchain Payment System

“JCB Co., Ltd. (JCB) has signed a strategic partnership agreement with TECHFUND Co., Ltd. for joint consideration of building a sustainable payment system using blockchain. Based on TECHFUND’s STO (Security Token Offering), staking and other blockchain technologies, as well as machine learning technology cultivated through business scoring, various issues in the settlement area. We plan to start a joint study on the construction of a payment platform that will contribute to the solution.”


Telegram’s TON Investors Consider Legal Action 

“We are considering filing a lawsuit, as the money [Telegram CEO] Pavel Durov spent on the project got investors nothing, while at least, it would be fair to talk about getting Telegram’s equity, for example,” Smerkis said. In his estimation, about a half of the investors might be considering lawsuits at the moment, and about half as many will actually do it. Three other individuals who did not wish to be named, including another investor in TON and two funds who consulted with such investors, said potential litigation is being actively discussed.


Visa Applies for Digital Currency Patent

The full abstract of the patent filed by Visa is described as, “Techniques are disclosed which include receiving, by a central entity computer, a request for digital currency. The request includes a serial number and a denomination of a physical currency. The central entity computer generates the digital currency for the denomination and linked to the serial number.” Visa’s patent goes on to state, “The generating includes recording the digital currency on a blockchain. The central entity computer transmits a notification of the generation of the digital currency. The central entity computer causes removal of the physical currency from circulation in a fiat currency system.” An image of the patent filing is listed below.


Bitcoin Futures Open Interest on The Rise

The open interest in Bitcoin futures has almost doubled in the past two weeks, jumping from just under 6,000 open contracts to nearly 10,000. The activity represents an all-time high for Bitcoin futures since their inception. Open interest represents the total number of open Bitcoin futures contracts, or positions that have not been closed by a buyer or seller. While open interest is not a good predictor of future price changes, it does offer insight into total market activity. When open interest is very low, activity in the market is low as well. Conversely, high open interest indicates market activity—a critical issue for Bitcoin.


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