California To Leverage Blockchain In Storing Data

A bill that enables the state of California to legally recognize stored data on a blockchain has recently gained traction as it advanced to a “do pass” recommendation by the State Senate’s Banking and Financial Institutions Committee on Aril 18 and has transferred the measure to the Judiciary Committee.

These data includes the names of the corporation’s stockholders, their addresses, number of shares and all issuances and transfers of stocks.

The Californian law, Bill 838, also stipulates that all data stored in this Blockchain can be printed and put into “clearly legible paper within a reasonable period of time.”

If approved by the California judiciary, California will join the ranks of Delaware and Wyoming in allowing this new technology for administrative purposes.

Ivy League Students Set Up Their Own Hedge Fund

There seem to be no let up on the every growing popularity of crypto hedge funds as four students from Harvard University have set up their own hedge fund for the new type of financial asset.

The hedge fund named, Plympton Capital Initiative, has not officially launched but has already garnered much needed financial backing from the student’s friends and family to the amount of $700,000 USD.

This is a very positive development for the industry and confirms that interest in cryptocurrency is not slowing down by any means.

Hongkong And Singapore: Safe Havens For ICO

After the banning of Initial Coin Offering (ICO) in China and South Korea following suite, many of companies who wants to start an ICO have looked elsewhere to do their business.

Hong Kong has become the ideal place for Chinese cryptocurrency ICO’s issuers to circumvent the ban of Mainland China by registering their business address in the said semi-autonomous region.

To a lesser extent Singapore also has become a safe haven for ICO issuers as it gained the third spot in terms of amount raised for ICOs trailing only United States and Switzerland.

Singapore is a popular choice since it has embraced Blockchain startups and have in place several incubator programs and asset managers that are dedicated to the cryptocurrency market.

Sixteen Japanese Self Regulated Crypto Exchange Plans To Restore Public Trust

A new Japanese cryptocurrency association was formed by 16 fully-Licensed cryptocurrency exchanges in Japan and has held their first board of directors meeting and has chosen Mr. Taizen Okuyama of Money Partners as its first Chief executive.

All the members of The Japan Virtual Currency Exchange Association are fully-licensed exchanges that comprised of; Money Partners, Quoine, Bitflyer, Bitbank, SBI, Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint japan, DMM bitcoin, Bitarg Exchange Tokyo, FTT Corporation, Bitocean, Fisco Virtual Currency, Tech Bureau, and Xtheta.

The association’s priorities include the protection of their customers, an orderly rule-making process and improved disclosures.

Notably there was no included function on determining Initial Coin Offering legitimacy as the group leaves its regulation to the judgment of the Japanese Financial Services Agency study group.

$11,500 Bitcoin Price Will Happen Soon

Bill Baruch, the president of Blue Line Futures, who has accurately predicted bitcoin’s bear market and recovery, has predicted that bitcoin will top $11,500 soon.

Having successfully predicting the market to recover from a bear market price of $7,200 last February 2018 we have more reason to believe that his prediction is attainable.

He believes after “fighting regulations head winds and tax selling” bitcoin will continue to surge upward with the ultimate upside at around $11,500 to $11,800.

He is not the only one that has predicted this upward trend after the tax selling season.

Co-Founder of Fundstrat Tom Lee expressed the same sentiments.

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