Blockchain News Sep 22, 2018

Hello steemians,

It's our pleasure to deliver to you another day of awesome blockchain news! Everyday at 7:00 pm pacific time, we will deliver 5 high quality news from the blockchain space. We hope you enjoy it!

South Korean Gov’t Pledges Support for Blockchain Startups to Facilitate Industry Growth

While some governments have banned cryptocurrency-related activities entirely, some countries such as South Korean have decided to take an open-minded approach to digital currencies. The Korean Ministry of Science and Information Communications Technology (MSICT) has announced that it will support the blockchain industry. The ministry has already held meetings with blockchain startups. The government believes the industry will facilitate the growth of the economy. Earlier this month, the Korea Customs Service has signed an agreement with Samsung SDS to deploy blockchain technology for its customs clearance system to streamline and secure document sharing from customs declarations of exported goods to delivery at each stage.

Source: https://cointelegraph.com/news/south-korean-govt-pledges-support-for-blockchain-startups-to-facilitate-industry-growth

EOS yet again on top while Bitcoin drops below 10

The China Center for Information Industry Development (CCID) that comes under the country’s Ministry of Industry and Information Technology has analyzed thirty-three crypto projects. In the latest crypto ranking, EOS was ranked the top followed by Ethereum (ETH) and further BitShares (BTS) that jumped from its previous 12th place to the 3rd. In relation to this ranking. Apart from the CCID’s ranking, Weiss Crypto Ratings Agency didn’t downgrade Bitcoin, Bitcoin still a fair game.

Source: https://coingape.com/crypto-picks-revealed-bitcoin-slides-down/

Bitmain co-founder speaks about the dilemma between privacy and security

Jihan Wu, the co-founder of Bitmain spoke about the privacy and security aspect of the blockchain technology in the blockchain technology arena, during the World Digital Mining Summit, hosted by Bitmain and BitKan on 21 September. Bitmain is one of biggest Bitcoin mining biggest company and the largest ASIC chip producer in the world located in Beijing, China. According Jihan Wu, finance continues to be the first major application of the blockchain technology. He said that the UTXO model used for Bitcoin had been functioning since the time BTC was created. It has several flaws, including excessive transparency that would lead to transaction-tracking on the blockchain. He believed that bigger security and privacy challenges have risen with more adoption of cryptocurrencies, it was important to rectify legal issues in the blockchain industry.

Source: https://ambcrypto.com/bitmain-co-founder-speaks-about-the-dilemma-between-privacy-and-security/

Former Point72 Manager Set to Open Crypto Hedge Fund Next Month

Travis Kling, who quit billionaire Steven Cohen’s Point72 fund in December, is sticking to the plan to start his own fund focusing on digital assets. The fund will be known as Ikigai and launched on Oct. 1 with partners’ capital expected to add $15 million of outside capital on Nov. 1. According to Bloomberg, Kling is targeting $100 million for the crypto portfolio and more than $30 million for a venture fund next year, but he has not reneged on his plans for a crypto fund even throughout the market downturn, will remain flexible on those amounts.

Source: https://www.bloomberg.com/news/articles/2018-09-21/former-point72-manager-set-to-open-crypto-hedge-fund-next-month?srnd=cryptocurrencies

Regulatory Clampdown in India Leads to Mass Exodus of Blockchain Talent

Because of the regulatory environment toughens within the country, India is currently witnessing the mass movement of blockchain and cryptocurrency talent. Blockchain talent which includes developers, service providers, and blockchain-related companies are moving abroad to cryptocurrency-friendly countries like Thailand, Estonia, and Switzerland. However, The movement of talent is not something new in the country. It occurred with many startups and companies for startup funding, attractive tax rates, and other reasons.

Source: https://btcmanager.com/regulatory-india-blockchain-talent/

Thanks for reading, see you all tomorrow!

Blockchain News

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