Crypto Fashion At The Third Ethereum Summit
The CEO and founder of ConsenSys, Joseph Lubin, wanted to have an event that that is not only meant for Blockchain techies but an event that focuses on normal people that he would want to bring into the fold.
The two day event called Ethereal Summit in Queens, NY imbibe such atmosphere as the emcee ask attendees to engage him or others to ask embarrassing questions that they might have about the technology.
Although it is not the most red carpet-ready event in history, Ethereal was true to its purpose binging it individuals from every walk of life evident by the different, colorful and sometimes bizarre sense of fashion, befitting for a nascent industry that preaches radical inclusion.
Congress Investigates Blockchain Transformative Potential
The U.S. Congress have recently expressed a keen interest in learning more about cryptocurrencies and distributed ledger technology (Blockchain), to understand its potentialities and risk of the said technology.
Some view this as a positive development saying that government oversight will help weed out the bad actors and more importantly help protect both consumers and investors alike.
However some view this the other way and believes the involvement of government will restrain the innovation and democratic ideals of decentralized Blockchain technology.
Morgan Stanley: Cryptocurrencies Could Mitigate Financial Crises
Researchers for Morgan Stanley revealed that Central Banks can leverage bitcoin or other cryptocurrencies to cut interest rates which in turn will help reduce the impact of any financial crisis in the future.
Sheena Shah, the team leader of the research group states that with cryptocurrencies with a monetary system that is 100% digital will enable central banks for deeper negative rates.
She also added that fiat limits the ability of the central banks to force negative deposit rates. However central banks are still doubtful of cryptocurrencies and do not support the team’s findings.
Upbit’s Investigation Was All About Pooled Liquidity Not Fraud
It seems that various news outlets have inadvertently spread FUD when they reported that Upbit of South Koreas biggest exchange was under investigation because of fraud.
Although there is indeed investigation going on about Upbit’s trading volume and liquidity it does not necessitates fraudulent behavior.
It seems that there is major misunderstanding on the part of the media as to how shared liquidity works.
This is a common practice among exchanges, pooled resources maximizes liquidity for all trading platforms involved.
However damaged has already been done as panic kicked in triggering massive sell off.
Blockchain To Trigger The Next Industrial Revolution
In an interview with CNBC, VP at financial services firm Federated Investors, Steve Chiavarone states that Blockchain is an economic growth driver and one of the 5 key technologies that will drive the next industrial revolution which includes automation, robotics, artificial intelligence and Internet of Things.
He further explains that companies can leverage Blockchain technology to cut cost in many aspects in their operation.
He explains that initially investors will go for bitcoin first and explore its potentiality but would later look unto its underlying Blockchain technology itself and supporting technologies as better bets.
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