Venture Capitalist Sees Bitcoin Will Surpass Gold As Most Trusted Store Of Value

Co-founder of CryptoOracle which privides cryptocurrency advisory services and operates a venture fund focusing on decentralized applications, Lou Kerner states that Bitcoin may replace Gold as the most trusted store of value.

This will not take place overnight, it may take as long as five years or more, but Kerner predicts that people using gold as store of value will soon switch to Bitcoin which he says offers something “much, much better.”

He also said that cryptocurrency has a bright future despite the price decline that has occurred.

He cites another cryptocurrency bull explained by Brain Kelly that the current bearish sentiment of the market is a “nervous money,” new money from investors that can’t handle volatility exiting Bitcoin.

Cryptocurrency Should Grow Under Appropriate Regulation: Japan Financial Services Agency

The commissioner of Japan’s Financial Services Agency (FSA), Toshihide Endo states that he sees the agency’s goal for developing the crypto industry is a balance between protecting consumers through appropriate regulations while at the same time not to stifle technological innovation brought about by over regulations.

FSA has expressed its intent of changing the legal basis for regulating crypto exchanges to the oversight of the Financial Instruments and Exchange Act (FIEA) instead of the current legal foundation, the payment services act.

This comes after releasing results of its on-site inspections of a number of cryptocurrency exchange operators revealing that its priority is investors protections.

Canadian Government Unveils Own Ethereum Blockchain Explorer

The National Research Council of Canada (NRC) has recently announced that it has built an Ethereum blockchain explorer.

Its Industrial Research Assistance Program (IRAP) is said to be now hosting the explorer on the InterPlanetary File System (IPFS) through services provided by bitaccess a blockchain startup.

Using the File System will ensure that the web application will not be alterable and will be accessible even if the original host is online or not.

The explorer allows the users to search the Ethereum blockchain for proactively published grants and contribution data.

NRC reveals that IRAP’s are experiments to provide constructive insight on what the technology could bring for a more open and transparent operations for public programs.

Hawaii Representative Reveals Crypto Holdings

The Democratic representative of Hawaii, Tulsi Gabbard has revealed her cryptocurrency holdings showing she has investments in Litecoin (LTC) and Ethereum (ETH).

According to an income filing from August 14, the representative have purchased between $1,001 and $15,000 worth of the two assets at some point in December 2017.

At that time Gabbard could have bought Ethereum at a price of $444-$814 and for Litecoin at a price range $87-$344.

The value of both digital assets has since sunk as part of an overall cryptocurrency market slump which has continued throughout 2018.

Gabbard’s crypto filing comes after the United States of Government Ethics (OGE) had announced in a notice that politicians must disclose cryptocurrency holdings in filings as part of property held investment or the production of income.

The government official holding crypto assets are required to identify the name of the digital asset and where the asset is held.

Accelerator Program Backed By U.K Will Sponsor Blockchain Startups

Entrepreneur First (EF), a pre-seed investment company which is said to be funding blockchain startups is now one of the government-recognized organization that can endorse firms for entrepreneur visas.

The Department for International Trade of U.K. announced that startups with high growth potential can apply for entrepreneur visa to launch business in U.K.

To be eligible for the entrepreneur, one should receive funding of at least 50k BP which is about $64k USD from an organization that is approved by the government of U.K., which is in this case is EF.

Startup that gets approval will participate in a six-month program that will provide support to develop its team, products. and may receive further investment.

EF is backed by major investors such as Reid Hoffman, Greylock Partners, Mosaic Ventures and Peter Thiel’s Founder Fund.

It has been revealed that Entrepreneur First have helped over 80 companies to date and raised over $100 million in venture investment.

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