DNotes Global CEO, Alan Yong Welcomes JPM Coin as a Partial Rail of a Massive Network Essential For Mass Adoption of Digital Currency
At the World Funding Summit in 2017, I took issue with JPMorgan CEO Jamie Dimon’s description of Bitcoin as a fraud. Today, I want to praise Dimon’s company and welcome its new digital currency, JPM Coin, as a partial rail of a massive network essential for mass adoption of digital currency.
JPMorgan Chase has announced that it will be launching its own digital currency, the JPM Coin. The bank said that the coin will initially be available only to its large institutional clients, with tentative plans to make it available to a wider array of customers later in 2019. However, the current plans do not involve making the coin available to individuals.
JP Morgan analyst Nikolaos Panigirtzoglou said this week that continuing price stability in the cryptocurrency markets could help contribute to renewed institutional investor interest. Appearing on Tuesday’s CNBC Futures Now, Panigirtzoglou predicted that the current lack of interest is probably temporary:
In a 28-1 vote on Thursday, Wyoming’s Senate approved a bill designed to bring new clarity to cryptocurrency’s legal status in the state. That bill, SF0125, would formally recognize the property rights of cryptocurrency holders and create an opt-in framework to enable Wyoming banks to provide digital asset custodial services.
After Four Years of Diligent Efforts to Encourage Women’s Participation in Cryptocurrency, CryptoMoms has Evolved to Become HERo
DNotes Global, Inc. today announced the launch of HERo – the next evolution of CryptoMoms, which was founded in 2014 to encourage women’s participation in the nascent cryptocurrency space. CryptoMoms’s vision was to help narrow the gender gap in an industry that was overwhelmingly dominated by men in a ratio of 95 to 5, male to female. The industry has seen minor improvement over the years, though female participation remains below 10% even today. CryptoMoms, which now has more than 70,000 registered members, recognizes the growing need to be even more inclusive and expand its efforts beyond the cryptocurrency world.
Cryptocurrency lenders are faring well in an industry shedding its old skin of once overvalued projects with now flailing treasuries thanks to the recent cryptocurrency bear market.
Nomics announced on Tuesday that it has raised $3 Million in its Series A funding round, Twin City Business reports. Investors included Arthur Ventures, Coinbase Ventures, Digital Currency Group, CoVenture Crypto, and BitGo co-founder Ben Davenport. Nomics CEO Clay Collins told TCB that his company plans to use the funds to further expand the crypto data in its index.
As part of an effort to prevent people from confusing digital currencies with government-issued legal tender, Japan’s Financial Services Agency (FSA) has decided to categorize digital currencies as crypto-assets, according to reports that cite details learned by Japanese newspaper Yomiuri Shimbun.
Central Bank of the United Arab Emirates (CBUAE) governor Mubarak Rashed Al Mansouri confirmed this week that the UAE is collaborating with the Saudi Arabian Monetary Authority to study development of a blockchain-based digital currency that the two nations can use for cross-border transactions.
DNotes Global, Inc. today announced the release of DNotes Bot, a trading bot designed to assist cryptocurrency exchange traders by providing automated trading for buy and sell orders.
The South African Reserve Bank (SARB) has completed a review of the country’s National Payment System Act, and published its findings and recommendations this week, according to a report from Business Insider. The bank is proposing several changes that could eventually allow a digital rand or existing cryptocurrencies to be accepted as recognized payment options and reduce the banking industry’s stranglehold on payment services.
Officials from Japan’s National Policy Agency say that they received about 6,000 cryptocurrency-related money-laundering reports from January to October 2018, according to a December 7 report from Japan Today. The number represents a significant increase over last year’s reported cases:
A commissioner from the U.S Securities and Exchange Commission (SEC) has said that institutionalization of cryptocurrency will happen but ceded that crypto advocates shouldn’t hold their breath when it comes to waiting for the approval of cryptocurrency Exchange Traded Funds (ETF).
South Korean finance minister nominee Hong Nam-ki reportedly suggested that the government will draw up plans to tax digital currencies, according to reports from the Korea Times. The Times quoted recent written remarks Hong submitted as part of his confirmation process:
During remarks at this week’s Consensus: Invest conference, New York Stock Exchange chairman and Intercontinental Exchange (ICE) CEO Jeff Sprecher asserted that digital assets are not going anywhere, despite the current bearishness in the crypto markets. In response to a question about the lower prices, Sprecher chose to address the issue of whether digital assets can survive:
The last 24 hours has been a lot kinder to cryptocurrency markets than the fortnight prior that saw $90 billion wiped from the industry’s market capitalization.
Securities and Exchange Commission Chairman Jay Clayton wants to see some major changes in the cryptocurrency markets before he can be “comfortable” with the idea of approving a Bitcoin ETF, according to a report from CNBC. Speaking at the CoinDesk Consensus invest conference this week, Clayton said that improvements need to be made in areas like market surveillance and cryptocurrency custody.
Overstock shares have soared 26% on the news that the company plans to sell its retail business to make way for a forward-looking bet on blockchain.
DNotesEDU has announced the release of its Global Digital Currency Industry Insight Report, a 45-page examination of the cryptocurrency industry that covers a broad range of blockchain and crypto-related technologies, trends, and potential risks.
“What everyone got really excited about was, hey, I can publish a paper and people will send me money.” — J. R. Willet, the creator of the first ICO.
This is a fascinating and revolutionary concept: pitch your product idea to the community, and if they like it, they’ll send you money to get your private business or decentralized application off the ground.
But an idea itself is worth very little. How an idea works in practice is of much greater importance. Unfortunately, this evaluation paints a story of scams, incompetence, recklessness, and greed.