31/08/2018: Biggest Stories in the Cryptosphere

1. Messaging App LINE Launches Own Cryptocurrency

Messaging app LINE is launching its first cryptocurrency and blockchain network (mainnet), respectively LINK (link.network) and LINK Chain. The news, which was released today through a press release, makes LINE one of the biggest companies to issue its own cryptocurrency. LINK, which will be available from September on the digital asset exchange BITBOX, will be part of a reward system. Users will receive tokens when using the company’s services. They will then be able to spend them within the company’s dApp services. According to the roadmap on LINE’s white paper, the first two dApps will be released in September, while in the first quarter of 2019 at least 10 more will follow. Instead, LINK Chain will help to integrate the various decentralised apps while also supporting the token LINK. Through BITBOX, LINK holders will receive perks such as discounts and promotions.

2. PwC Offers 2-Year Course on Digital Skills, Including Blockchain

Services network PricewaterhouseCoopers (PwC) wants to boost its employees’ digital skills, blockchain included, through the launch of a 2-year course called Digital Accelerators. It will start in January and will help them gain intermediate to advanced skills. Staff members will receive digital client work, as well as projects and weekly classes. Digital Talent Leader and Head of the Digital Accelerators program Sarah McEneaney stated that the initiative will ensure that the workforce will remain competitive over time by updating their skills. Especially considering the heavy competition from other consultancies and ad agencies. This will make the company more responsive to clients future needs. In the long-term, the acquired new skills will lead to cost-cutting as employees will be able to rely more on new technology. Out of the 3,500 employees who applied to take part in the program, 1,000 were selected.

3. Economist Finds Connection Between Bitcoin Price and Google Searches

Economist Joost van der Burgt has discovered a correlation between Google searches and Bitcoin’s price movements. The Dutch National Bank Policy Advisor found “a nearly perfect correlation until Bitcoin’s price started to plunge in early 2018”. Van der Burgt went on to say that everytime that Bitcoin was in the news, regardless of the nature of the article, the price would go up. The situation changed at the end of 2017 and he thinks that the introduction of Bitcoin futures might have been behind this. The assumption is backed by San Francisco Federal Reserve researchers who published a research paper stating that Bitcoin futures were the reason why Bitcoin fall in price.

4. Japanese Police Wants To Track Crypto Criminals

Japan’s National Police Agency (NPA) wants to track criminals carrying out illicit crypto transactions and hopes to be able to do so by funding the creation of a software. The news was first reported by broadcast firm NHK. 35 million yen ($315,000) will be allocated for this project in 2019. Furthermore, the technological development side will be outsourced to the private sector. When using the software, the flow of suspicious transactions will be tracked, while information will be displayed and the individuals involved in the transaction will be located. NPA decided to take this step because of the growing number of reports regarding criminal crypto episodes in the country, including a couple of high-profile cases.

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