The Smith + Crown, a research firm revealed that the startup companies are raising capital through Initial Coin Offerings (ICO). It gushed up to $6.8 billion during 2017 from $151 million in the previous years. It was discovered that an amount totaling to $3.5 billion was raised during the fourth quarter of the year 2017.
The Visa and UnionBank had announced that they would develop ‘direct blockchain payment system’ for business operations. The development of Visa B2B Connect the funds can be transferred within 24 hours. It is said that the transaction fees will also reduce. The payment platform will be wholly operational by the end of 4th quarter of 2018 as stated by the official of Visa Asia Pacific.
The Hyperledger, business blockchain group proposes to establish Hyperledger labs. The chairman of Hyperledger’s technical steering committee and chief technical officer of IBM Open Technology, Chris Ferris emphasized why such labs are required to the CoinDesk. He coined this as the measure to expand the Hyperledger Community.
The International Monetary Fund (IMF), aspiring to foster ‘financial stability’ had called for harmonization of cryptos and cautioned about the fluctuating price rates. Gary Rice, IMF spokesperson said, “It’s important for people to be aware of the risks and undertake necessary risk-management measures.” He also emphasized that cryptos charge various other threats to the financial sector such as money laundering.
The Bitcoin expert, Bejamin Semchee hosts a Facebook and YouTube show titled ‘The Bitcoin Ben Show.’ He discoursed that he has earned 100,000 views per week. It is revealed that he will be addressing in a cryptocurrency event hosted by Business Cloud which is scheduled to happen 2nd February.
The President of the European Central Bank (ECB), Mario Draghi, will be addressing the public by a series of video on 12th February 2018. The session will elaborate on the sustainability of bitcoin and cryptocurrencies as an alternative to the traditional currencies and will also expose the view of ECB over blockchain technology.
The Metropolitan Commercial Bank disavowed reports that stated about the amendment of its policies to stop international cryptocurrency-related wire transfers. The Bank emphasized that it does not accept cryptocurrency-related wire transfers from any non-U.S. entities. It was due to an international fraud associated with the bank’s client.
The ICF Church in Zurich, Switzerland had publicized that it will accept bitcoins as donations. It is observed that the parishioners of the Church are young and the Church itself is a supporter of technological advancement. The spokesperson of the church said, “Digital currencies and the blockchain technologies will change our daily lives.”
The Sweatcoin App had announced about rewarding the users with cryptocurrencies. Sweatcoin App had got nearly 2 million active users. The application counts the steps of the users via their smartphone and rewards them 0.95 in Sweatcoin for every 1,000 steps. The coin can be accumulated and used for meeting payments. It can also be given as charities to partners.
The Korean Financial Supervisory Service (FSS) examined and accumulated the data from various banks regarding their virtual account services to cryptocurrency exchanges. It revealed that the South Korean banks’ commission gains more than 36 times through such services rendered to the cryptocurrency exchanges. The commission gains amount to $2.1 million as reported by Yonhap.