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South Korean government official to update stance in November 2018 after a year long ICO ban

As per a top South Korean government official, there is likely an announcement/update on its stance on its disputed status of ban on initial coin offerings (ICOs) since September of 2017. The stance update will be finalized after its survey to local blockchain companies to gather their views on the current legal framework. Hong Nam-ki,…
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Coinbase’s ‘index fund’ aimed for big investors to be shut down in favor of retail investors with crypto financial ETF like product ‘Coinbase Bundles’

Earlier this year in March, Coinbase had announced ‘index fund’ product targetting accredited large investors with minimum $250,000. Due to lack of demand for the product, Coinbase is shutting down the same. In its place, Coinbase aims targets three products to smaller retail investors for investing & related tools: ‘Coinbase bundles’, ‘asset pages’ and ‘Coinbase…
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South Korean crypto exchange giant Bithumb was sold for $354 million to BK Global Consortium led by Kim Byung-gun, plastic surgeon and blockchain platform investor

South Korean major cryptocurrency exchange Bithumb was sold for US$354 million to a group led by a plastic surgeon and blockchain platform investor. With this acquisition by BK Global Consortium, they now own a controlling 51% shares of the crypto exchange. In these times of severe crypto bear markets, news like these further affirm that…
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IMF backtracks from its April claim of ‘cryptos posing no risk to global finance’ to now ‘continued rapid growth of crypto assets could create new vulnerabilities in the international financial system’

Only few months ago, International Monetary Fund (IMF) devoted an entire chapter to its annual report and emphasized ‘cryptos posing no risk to global finance’. Furthermore the financial guiding arm of the world also praised the underlying Distributed Ledger Technology (DLT) (a.k.a. blockchain). But now in its latest World Economic Forum (WEF), October 2018 edition,…
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PricewaterhouseCoopers (PwC) collaborates with Cred to develop a USD pegged stable coin

  One of big 4 auditing and accounting firms of the world ‘PricewaterhouseCoopers (PwC) is partnering with a decentralized lending firm ‘Cred’ for backing development of their very own stablecoin. The value of the stablecoin will be pegged to USD. This news comes after a wave of various stablecoin projects announced and some already functioning…
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$30 Million worth Manhattan real estate property tokenized using Ethereum blockchain

In a first for the city of Manhattan, USA, a $30 Million luxury condo real estate property was tokenized by the ethereum blockchain. A partnership between two firms Propellr and Fluidity are offering this tokenized product. The concept was previously conceptualized by Michael Oved, Fluidity co-founder and Todd Lippiatt, Propellr, CEO: Michael Oved, Fluidity…
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UAE to legalize and regulate ICOs starting early next year

With the rise to funding via ICOs worldover in the last two years, United Arab Emirates (UAE) will soon enable domestic firms to raise capital via ICOs. Starting tentatively early next year, ICOs will be recognized as ‘securities’ by authorities. New regulations are currently in draft. Obaid Saif Hamad Al Zaabi, CEO, Securities and Commodities…
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Australia’s National Disability Insurance Scheme (NDIS) to trial blockchain for payment system

  Data61 is leading digital research network to help create a data-driven future. It is created by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO). Now they have developed an app to trial & explore the potential for blockchain technology to create ’smart money’. The first use case is targeted to participants and service providers…
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Singaporean Containership operator Pacific International Lines Ltd (PIL) partners with IBM to trial digital ‘bill of lading’ using blockchain technology

  Tech giant IBM partners with with one of Singapore’s biggest shipper, Pacific International Lines (PIL) to trial a digital version of ‘Bill of Lading’ secured for immutability by blockchain technology. In international trade over sea by shipping and cargo, the ‘Bill of Lading’ is taken as the proof of ownership & receipt of goods.…
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