Crypto News 

PORTAL Launches Debut Crypto Fund, Targets Asia-Pacific Investors

“Dubbed the Portal Digital Fund, the fund will operate as a fund of funds” writes Arnab Shome for financemagnates.com. Singapore-based PORTAL Asset Management on Thursday has launched a cryptocurrency fund, making a debut in the digital asset industry, The Business Times reported.The company is planning to create a diversified portfolio adding four to eight specialist global fund managers.It will be targeted to sophisticated investors which include high net worth individuals, family offices and boutique institutional investors in the Asia-Pacific region.Though new to the industry, the firm is aiming to manage…

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Crypto News 

Why Do Governments And Corporations Need Blockchain?

“All participants pointed out that the main features of blockchain technology go far beyond Bitcoin” writes Cassio Gusson for cointelegraph.com. Vinay pointed out that there is much debate about whether blockchains operated by governments and industries are truly decentralized or not.Experts at BlockShow Asia 2019 agree: Bitcoin is just cryptocurrency while blockchain is a new connectivity framework.Ming highlighted several use cases where blockchain connects different ecosystems to create new value for the internet, citing IBM’s Food Trust network as used by Carrefour, and several other partners connecting supply chains to…

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Crypto Markets News 

Softbank-Backed Blockchain Firm OneConnect Eyes $100M Nasdaq IPO

“As Bloomberg reported on Nov. 13, OneConnect is the blockchain- and AI-focused fintech arm of Chinese insurance giant Ping An” writes Marie Huillet for cointelegraph.com. OneConnect’s technology has been used to develop the major blockchain-based trade finance platform eTradeConnect in partnership with the Hong Kong Monetary Authority.Mining titan Bitmain, which enjoys a 75% market share of the crypto hardware market worldwide, had — like Canaan and OneConnect — initially tried to complete an IPO in Hong Kong, but met with failure. Source: cointelegraph.com

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Crypto News 

99% of Token Price Is Pure Speculation Says VeChain Founder

“Speaking at a panel today at BlockShow Asia 2019, VeChain founder Sunny Lu suggested that token value is mostly arbitrary” writes Cassio Gusson for cointelegraph.com. Pavel Kravchenko, CEO & co-founder of Distributed Lab.But Lu’s commentary broke through: “99% of a [token’s value] is linked to speculation, and not to the value that solution can bring to society. Source: cointelegraph.com

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Crypto News 

Binance’s CZ Speaks Publicly About China’s Digital Currency

“Some investors predict the Chinese digital currency will be issued within 2-3 months” writes Hisashi Oki for cointelegraph.com. Speaking today at BlockShow Asia 2019, CZ shared his thoughts on the digital currency in development by the People’s Bank of China.Binance CEO Changpeng Zhao, better known as CZ, predicted that the digital Renminbi token (RMB) would be based on blockchain.Having Libra is better than not having it.” Last month, China’s President Xi Jinping called for the country to accelerate its adoption of blockchain technologies.When you learn about blockchain, you almost have…

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Crypto News 

Julian Gordon’s WeChat “Hasn’t Stopped Buzzing” Since Xi Jinpin Went Pro-Blockchain

“Expectations for the Chinese blockchain market are quite high” writes Hisashi Oki for cointelegraph.com. It has gathered companies from different backgrounds such as IBM, Airbu, and J.P.Morgan to further advance cross-industry blockchain technologies.The reason I know that is because my phone is sitting on my desk — my WeChat started buzzing and hasn’t stopped since.” Hosted by the Linux Foundation, Hyperledger is an open-source blockchain project aiming to be a hub for open blockchain development across industries. Source: cointelegraph.com

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Crypto Markets News 

HSBC and Singapore Exchange Pilot Blockchain in Bonds Issuance

“HSBC today said it joins forces with the Singapore Exchange (SGX) and investment company Temasek to execute a blockchain pilot for a fixed income issuance” writes Aziz Abdel-qader for financemagnates.com. HSBC is one of the founder members of Voltron, a blockchain-based open industry platform for digitizing trade finance documents on Corda, R3’s blockchain platform.There have been other blockchain issuances, but in most cases they weren’t handling the unique challenges faced in the issuance and servicing of fixed income securities in Asia.The test also makes HSBC one of the first asset global…

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Crypto News 

Telegram Wants Dismissal of SEC Allegations

“The lawsuit, however, forced the company to suspend its blockchain launch, at least for the time being” writes Arnab Shome for financemagnates.com. Telegram, the company behind the issuance of Gram token, has requested the judge of the New York Southern District Court to dismiss the charges against it brought by the Securities and Exchange Regulator (SEC).While raising funds, the company guaranteed the investors to launch its blockchain before October 30, 2019, else they will be eligible for a refund.Notably, the platform raised $1.7 billion from private investors in two rounds…

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Crypto News 

IBM’s Gabi Zodik Delves into Blockchain Technology

“This included trade logistics, finance, and industry trade as well as a linkage between these” writes Jeff Patterson for financemagnates.com. Asset-backed tokens were also a key area of focus that’s caught on in the blockchain industry.Touching on a number of unique comparisons, it’s quite easy to forget how many different channels and industries blockchain technology has helped improve.Zodik discussed the evolution of money and its intersection with Blockchain, IoT and other disruptive technologies that have taken the FX and finance industries by storm. Source: financemagnates.com

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Crypto News 

UPS and Agritech Firm Use Blockchain to Verify Beef Shipment From US to Japan

“American logistics giant UPS has successfully delivered a blockchain-verified beef shipment from the United States to Japan” writes Helen Partz for cointelegraph.com. In late 2018, UPS chief engineering and information officer Juan Perez said that he did not expect any significant benefits from the implementation of blockchain technology.The company partnered with agritech firm HerdX to incorporate its packaging technology into a blockchain network to trace the journey of beef from Kansas to Japan, the firm announced on Nov. 11.As announced by UPS, the jointly-delivered shipment involved a blockchain partner network…

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