#CryptoCorner:
JP Morgan Launches “JPM Coin”, SEC
Withdraws #Bitcoin #ETF Proposal, Baidu Launches #Blockchain Engine
February 14th - #Crypto payment tech, #Flip
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February
14 Crypto Corner
JP Morgan Launches “JPM Coin”, SEC Withdraws Bitcoin
ETF Proposal, Baidu Launches Blockchain Engine, EEA Opens Chinese Office and
Indonesia Imposes Daunting Regulation On Crypto Space
Stocks discussed: (NYSE:JPM) (NasdaqGS:BIDU)
J. P. Morgan (NYSE:JPM) is launching a
digital token known as the “JPM Coin”, which will be used to settle payments
between clients, according to a report from CNBC. The move comes as
part of the bank’s transition to blockchain technology from wire transfers.
Umar Farooq, head of J. P. Morgan’s blockchain projects, commented:
"So anything that currently exists in
the world, as that moves onto the blockchain, this would be the payment leg for
that transaction. The applications are frankly quite endless; anything where
you have a distributed ledger which involves corporations or institutions can
use this."
The U.S. Securities
and Exchange Commission (SEC) has withdrawn a proposed ETF submitted by Reality
Shares ETF Trust, according to an official
letter.
The ETF application was filed on
February 11, 2019 and outlined in its Principal Investment Strategy “bitcoin
futures contracts of various maturities listed for trading on U.S. exchanges
that provide exposure to the price movements of bitcoin”.
Chinese tech titan
Baidu (NasdaqGS:BIDU) has launched the decentralized
application (dApp) development system, Baidu Blockchain Engine, according to an
announcement from Baidu
Cloud.
A loose translation of the announcement reads:
“The Baidu blockchain engine (BBE) uses the
pluggable blockchain framework to provide developers with a complete
multi-chain, middle-tier and various contract templates, dApp templates and
other services to make the development of blockchain business systems faster
and simpler.”
Cointelegraph reports that
Enterprise Ethereum Alliance (EEA) has opened a regional office in China. The
EEA is a “member-driven standards organization whose charter is to develop
open, blockchain specifications that drive harmonization and interoperability
for businesses and consumers worldwide”. The article reads:
Weijia
Zhang, vice president of engineering at blockchain interoperability startup
Wanchain, has been appointed as the head for the new regional office. Zhang
will reportedly be responsible “for supporting the advancement and adoption of
EEA’s standards by taking part in local hackathons, workshops, training
sessions, and conferences.”
The
Jakarta Post
reports that Indonesia has issued additional regulations on the crypto space
which impact the trading of cryptos and bitcoin futures. For futures, the new
legislation requires a minimum deposit of $5.7 million, as well as a minimum
paid-up capital of 100 billion rupiah ($7.13 million). And as for exchanges, a
minimum capital of 1 trillion rupiah ($70.9 million) is required, with a
minimum paid-up capital of 800 billion rupiah ($56.7 million). Reuters reports that
crypto trader are concerned about the prohibitively high prices.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
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technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By
leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to
seamlessly exchange their cryptocurrency for US dollars and store that value on
a contactless payment device that can be used to make purchases at millions of
retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet
App by Genesis Blockchain
Technologies ( GBT)
@GenesisBlockch
GBT is a
powerful cryptocurrency centralized / decentralized exchange which will include
a broad range of services and benefits from cryptocurrency and blockchain
markets development, while avoiding complications and risks arising from crytocurrency
ownership, transfer, and exchange.You can Download the
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on the Apple
App Store. Learn more at http://www.mygenesis.io
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