Blockchain and Cryptocurrency News Roundup

  • Post by:
  • May 25, 2020
  • Comments off

25 May 2020.

Here are some of last weeks biggest headlines from across the blockchain and cryptocurrency industry.

Chinese Congress Reviews National Blockchain Fund Bill

“According to Tan, the goals of the fund are to encourage blockchain innovation, grow a variety of blockchain enterprises, and to cultivate a number of blockchain “unicorns”. Tan also believes that the use of blockchain could modernize China’s government processes, contributing to the creation of a “high-trust society” that relies on smart governance systems.”

Finance Magnates

Grayscale Bitcoin Fund Asset Grows nearly 10x

“Grayscale Investment’s flagship Bitcoin Trust fund has seen a ten-fold increase in assets under management year-over-year. The average weekly investment in Q1 2019 was just $3.2 million, compared to nearly $30 million this year. The growth has allegedly been the result of the arrival of ‘institutional money.‘ Long considered the future hope of Bitcoin and cryptocurrencies, large-scale institutional investors would bring massive investment into the space.”

beincrypto

IBM Takes 7% stake in We.Trade

“IBM has become a shareholder in we.trade, the trade finance platform jointly owned by 12 European banks, signaling further consolidation across the enterprise blockchain space. Ciaran McGowan, we.trade’s CEO, said the deepening relationship with Big Blue will help the platform in its next phase of global expansion.

“Now we’ve got a very strong partnership with IBM for scaling globally, and we are working closely together on Asia, Africa and Latin America,” McGowan said. We.trade has the distinction of being the first enterprise blockchain consortium to go live, which happened back in early 2018. The platform was formed by a group of banks to help European small and medium-sized enterprises (SMEs) get better access to trade finance. IBM has been the project’s technology partner from inception.”

Coindesk

A Bitcoin Transaction Fuels Speculation about Satoshi Nakamoto

“A long term Bitcoin hodler—or someone who just found an old wallet—has moved a large amount of Bitcoin, mined during the network’s earliest days.

Today, 50 Bitcoin, worth $500,000 today, was moved, and split up into two addresses in one transaction. As pointed out by Coindesk reporter Zack Voell, the coin was mined in block 3,654—and hadn’t moved since then.”

decrypt

Join the Community

Learn more about Konfidio and how we’re accelerating the adoption of disruptive technologies to build a more decentralized future.