Winklevoss twins’ exchange launches Gemini dollar – a US pegged token

Gemini has announced that it is launching a stablecoin pegged to the value of the US dollar.

In a press release this morning, the exchange founded by the Winklevoss twins published the news of the new exchange-backed token dubbed the “Gemini dollar”. The token has three fundamental characteristics, namely:

  • it is issued by Gemini,
  • it is strictly pegged 1:1 to the U.S. dollar, and
  • it is built on the Ethereum network and operates under the ERC20 standard for tokens.

The announcement explains that the token aims to incorporate the “creditworthiness and price stability” of the US dollar. It hopes to use it to create a token based on blockchain technology. Gemini also stated that the new token is all above board and will remain under the oversight of regulatory authorities, especially the New York State Department of Financial Services (NYDFS).

Quick to get the token up, the exchange announced that Gemini users can convert U.S. dollars into Gemini dollars. This happens through users’ Gemini accounts and, from there, they can withdraw them to an Ethereum address specified.

Furthermore, the US dollars which are associated with the Gemini dollars (to be issued or already in circulation) will be held in a bank based in the US. The exchange explained that this particular bank is eligible for FDIC (or pass-through) deposit insurance which will be treated with any applicable limitations.

It was also explained that “the U.S dollar deposit balance will be examined monthly by an independent registered public accounting firm to verify the 1:1 peg… Further, the smart contracts underlying the Gemini dollar token have been fully audited and formally verified by an independent security firm, whose report is publicly available here.”

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Analysis: The 12 coins with sizzling sentiment through $BTC’s rough week

Well last week was … dramatic.

As $BTC once again teetered toward its annual lows, it largely took the Alt market with it before balancing out.  After peaking last week just before the massive drop, sentiment on Bitcoin crashed before recovering a bit this weekend.

There’s still a fair number of the 154 traders and influencers I follow who remain bullish, but things have cooled considerably.

Let’s look at where we’re at on the market charts.

Note: The chart above shows sentiment for $BTC and a combination of the top 20 Alt coins/tokens as of this writing on CoinMarketCap. 

Both $BTC and the Alt markets are on downtrends in sentiment, and although you could argue the Alts are closer to a bottom, they won’t start performing again until Bitcoin at least levels out.

Bitcoin was very choppy over the weekend, but if we get some steadiness, we could see sentiment on the Alts turn around.

Even with the price drops, sentiment remains high on many alts. Let’s take a look.

The Top Alts

These coins/tokens had the highest power rating in my analysis this week. The power rating is a weighted calculation taking into account sentiment, volume and the number of unique users who mentioned a coin. Generally, I eliminate any coins mentioned by less than 3 individual people as I don’t feel it would be representative of a trend.

You can always find my methodology at the bottom of my posts or pinned to the top of my Twitter page, where you can also find a legend for my charts.














The Data

As always, here is the data I collected this week.

Coin Sentiment (of 100) Volume Influencers Power Rating
ACBFF 1 1 1 0.5
ACED 92 11 3 86
ADA 39 27 14 67
AE 22 1 1 11
AION 9 1 1 4.5
AKA 67 1 1 33.5
ALQO 77 13 6 82.75
AMD 50 1 1 25
ARN 64 2 2 57
ARWR 13 1 1 6.5
AST 13 1 1 6.5
AUD 22 2 1 22.25
AUR 0 1 1 0
AURA 37 8 5 59.5
BABA 1 1 1 0.5
BAK 22 2 1 22.25
BAT 63 17 8 77.5
BCD 37 8 8 61.75
BCH 20 17 9 56.25
BCN 79 5 4 76.75
BEER 99 1 1 49.5
BIS 67 1 1 33.5
BK 88 1 1 44
BLAS 93 1 1 46.5
BLOCK 64 2 1 43.25
BLPH 97 1 1 48.5
BLZ 50 1 1 25
BNB 67 7 7 75.5
BRAVO 97 1 1 48.5
BTC 45 794 106 72.5
BTCD 12 8 5 47
BTG 3 4 2 32
BTS 67 1 1 33.5
BURST 88 1 1 44
BUST 3 1 1 1.5
BVO 62 3 2 59.75
BWK 81 10 3 80
CACHE 5 1 1 2.5
CAN 95 1 1 47.5
CANN 99 1 1 49.5
CATO 76 4 2 68.5
CDT 13 1 1 6.5
CGC 41 6 2 53
CHAT 60 4 2 60.5
CHF 81 1 1 40.5
CL_F 22 1 1 11
CMT 67 1 1 33.5
CNN 50 3 1 40
COLX 47 7 1 43
CORN 50 1 1 25
COSS 0 1 1 0
CRNC 22 1 1 11
CRON 49 11 4 66
CS 17 4 2 39
CURE 13 1 1 6.5
DADI 50 1 1 25
DART 88 5 1 61.75
DASH 40 14 6 64.5
DAV 9 1 1 4.5
DAX 50 1 1 25
DBC 81 1 1 40.5
DBIX 12 2 1 17.25
DBX 22 1 1 11
DCR 17 4 2 39
DEB 20 10 5 52.25
DENT 22 2 2 36
DEV 37 5 1 36.25
DGB 67 2 2 58.5
DIG 22 2 2 36
DIVC 13 1 1 6.5
DNT 5 1 1 2.5
DOGE 61 53 26 79.75
DOR 81 1 1 40.5
DRGN 20 8 7 52.75
DTB 37 9 4 59
DXY 50 1 1 25
DYN 45 5 1 40.25
ELF 66 3 2 61.75
EOS 22 55 7 58
ETC 45 28 17 70.5
ETH 19 217 67 59
ETHBTC 17 2 2 33.5
ETP 3 1 1 1.5
EXC 50 1 1 25
FB 50 1 1 25
FDR 22 3 2 39.75
FLASH 22 1 1 11
FOR 62 3 2 59.75
FUEL 67 1 1 33.5
FUN 81 1 1 40.5
GBTC 3 1 1 1.5
GFY 47 7 2 56.75
GGP 67 1 1 33.5
GIN 50 1 1 25
GLD 76 6 2 70.5
GNO 88 1 1 44
GO 22 1 1 11
GVT 22 10 4 52
HMNY 36 10 3 57.5
HOT 75 51 18 86.5
HUSH 76 4 1 54.75
ICX 22 18 12 57.75
IGNIS 0 1 1 0
INXT 88 1 1 44
IOTA 41 6 5 60
IOTX 50 1 1 25
IWM 22 1 1 11
IXIC 50 1 1 25
JD 22 2 1 22.25
KEY 97 1 1 48.5
KIN 22 3 2 39.75
KLKS 46 9 2 57.75
KMD 67 8 5 74.5
KRL 81 2 2 65.5
LBC 17 4 2 39
LEND 1 1 1 0.5
LIFE 97 2 1 59.75
LINK 41 2 2 45.5
LISK 50 1 1 25
LOOM 22 1 1 11
LSK 67 2 2 58.5
LTC 22 42 10 58.5
LUV 50 1 1 25
LUX 50 1 1 25
MAID 13 1 1 6.5
MAN 8 2 2 29
MANA 22 3 3 44
MED 22 1 1 11
METM 5 1 1 2.5
MFT 88 7 5 84.25
MKR 88 2 1 55.25
MSP 79 2 2 64.5
MTC 93 1 1 46.5
MTL 21 29 5 55
MUE 17 10 3 48
MVIS 13 3 1 21.5
NANO 22 4 3 45.75
NAV 50 1 1 25
NCASH 66 11 4 74.5
NEBL 5 1 1 2.5
NEO 63 41 21 80
NEXO 67 1 1 33.5
NIO 77 3 1 53.5
NKE 11 3 3 38.5
NPXS 75 27 13 84.75
NXC 13 1 1 6.5
NXS 81 1 1 40.5
NXT 22 1 1 11
OCN 67 12 6 77.5
OMG 67 7 5 73.75
OMNI 87 3 2 72.25
ONT 22 2 2 36
PART 1 1 1 0.5
PASC 22 1 1 11
PCN 3 1 1 1.5
PHR 41 17 3 61.5
PINK 64 2 1 43.25
PIRL 64 2 2 57
PIVX 60 9 2 64.75
POA 41 2 1 31.75
POLY 64 2 2 57
POWR 22 2 1 22.25
PPT 93 1 1 46.5
PUREX 81 1 1 40.5
PXS 22 1 1 11
QKC 81 1 1 40.5
QNT 87 5 4 80.75
QQQ 9 1 1 4.5
QSP 22 1 1 11
QTL 1 1 1 0.5
QTUM 50 1 1 25
RDD 81 1 1 40.5
REN 97 1 1 48.5
RUBY 50 1 1 25
RUPX 40 7 1 39.5
SC 46 6 4 61.25
SCRL 67 5 4 70.75
SCT 50 4 1 41.75
SENT 49 6 4 62.75
SHA 67 2 1 44.75
SHIFT 88 1 1 44
SKYBTC 1 1 1 0.5
SMART 81 5 2 72
SNAP 22 3 3 44
SPX 22 1 1 11
SPY 50 2 2 50
SQ 81 1 1 40.5
SS 5 1 1 2.5
STEEM 22 1 1 11
STONE 49 6 1 43.25
STORM 8 5 5 42.5
STRAT 21 14 7 55.75
SUN 92 2 1 57.25
T 9 1 1 4.5
TEL 60 20 7 76
TFD 13 2 2 31.5
TKS 95 1 1 47.5
TKY 94 2 1 58.25
TLRY 5 2 2 27.5
TNC 97 1 1 48.5
TOMO 80 8 1 60.25
TRC 11 5 1 23.25
TROLL 95 1 1 47.5
TRX 46 43 13 71
TSC 50 1 1 25
TUBE 41 12 6 64.5
UBQ 77 6 5 78
UCNS 93 4 4 82.75
UUU 88 1 1 44
VEN 11 3 2 34.25
VERGE 5 1 1 2.5
VET 48 44 10 71.75
VIA 81 2 2 65.5
VIBE 41 2 2 45.5
VNX 77 3 1 53.5
VTC 22 1 1 11
WABI 13 2 2 31.5
WAN 13 7 3 44
WAVES 39 15 2 56.25
WENDO 50 4 2 55.5
WHIP 50 1 1 25
WYS 81 1 1 40.5
XBT 66 5 2 64.5
XDN 67 1 1 33.5
XEM 95 1 1 47.5
XG 92 2 1 57.25
XHV 22 1 1 11
XLM 39 34 13 67.25
XLQ 22 3 3 44
XLR 44 13 4 64
XMR 62 9 6 73.75
XPTX 41 2 1 31.75
XRP 38 58 17 68
XSN 79 2 1 50.75
XVG 67 9 6 76.25
XZC 81 2 1 51.75
ZCL 61 7 5 70.75
ZEC 13 3 3 39.5
ZEN 46 3 2 51.75
ZER 50 2 1 36.25
ZIL 81 7 2 73.75
ZINC 50 1 1 25
ZNGA 9 1 1 4.5
ZPT 67 1 1 33.5
ZRX 40 12 7 64.75


Each week, I scrape the Twitter accounts of some of the crypto world’s favorite influencers, traders and TA folk. I run a sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

This isn’t financial advice, just my own way of trying to make sense of what’s out there. And as with most things, the more data I collect, hopefully, the more interesting it’ll be. This is a work in progress. Please leave suggestions on how to make it better. I imagine if I keep up with it, I’ll be able to expand a bunch of the analysis, but I wanted to start somewhere.

The post Analysis: The 12 coins with sizzling sentiment through $BTC’s rough week appeared first on Coin Insider.

“Cash is king” in illicit and terrorist activity, according to the FDD

The Subcommittee on Terrorism and Illicit Finance within the U.S. Congress recently explored the relationship that terrorism has with finance.

According to a press release from the Financial Services Committee, the council met in order to investigate the ways in which terrorist groups create and transfer funds. The Subcommittee Chairman Steve Pearce stated that extremist organizations founded on terror “cannot function without financial resources to organize and carry out their violent actions.”

Pearce gave reason to their reason for meeting was with the intention to “understand the nature of these threats that are currently facing the nation and the world, in order to do all they can to put an end to these illicit acts”.

The Congress further discussed on the matter and Yaya Fanusie, the director of analysis for the Foundation For Defense of Democracies (FDD) Center on Sanctions and Illicit Finance, stated that “[cold] hard cash is still king” and explained that cryptocurrency is “a poor form of money for jihadists because they usually need to purchase goods with cash often in areas with unreliable technology infrastructure”.

Fanusie also stated that “[terrorist] organizations have a long history of exploiting banks and other traditional financial institutions, as well as semi-formal means of transferring funds, such as the hawala exchange system. But emerging financial technologies offer new channels to raise and move funds”.

The FDD also released an announcement on Twitter that pointed out that digital currencies are not attractive to jihadist terrorist groups.

Despite the good news, Fanusie warned that cryptocurrency usage for illicit activity might increase as more alternative coins enter the market through smaller trading exchanges. He suggested that this stems from the US regulatory authorities clamping down on cryptocurrencies.

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CoinInsider Cartoon: Bentley Bling with Blockchain

Post Oak Motor Cars has released news to excite both cryptocurrency and luxury cars fans.


According to a press release announced by the car retail firm, cars under the brands Rolls-Royce, Bentley, and Bugatti will be available for purchase with cryptocurrency as the payment.

Post Oak Motor Cars will be the first automobile dealership in the United States which will be accepting Bitcoin and Bitcoin hard fork Bitcoin Cash as legal payment methods using BitPay, a cryptocurrency service provider, as the platform for the company.

Tilman Fertitta, the owner of Post Oak, is excited about the new strategy, saying:

“The rising of Bitcoin sparked my interest. Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier.”

BitPay CEO Sonny Singh also commented on the new partnership. The CEO seems to have a positive attitude, offering insight into the reason behind the new payment plan:

“We’ve noticed people prefer to make larger purchases with Bitcoin since it is a simple way to make payments. This partnership is timely with the increasing popularity of Rolls-Royce, Bentley and Bugatti vehicles. Post Oak Motors has a great reputation of selling the finest cars and we are thrilled to be partnering with Tilman.”

Cryptocurrency has been attractive to the automobile industry and we’ve seen several projects form from the innovation.

Other notable initiatives include Ford’s patented system which was detailed as a system which:

“would temporarily allow for particular cooperative vehicles (sometimes referred to as ‘consumer vehicles’) to drive at higher speeds in less-occupied lanes of traffic and also to merge and pass freely when needed. Other participating cooperative vehicles (sometimes referred to as ‘merchant vehicles’) voluntarily occupy slower lanes of traffic to [allow] the consumer vehicle to merge into their lanes and pass as needed.”

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Bitcoin’s low privacy almost fixed with these five coins

Anonymity was one of the important values of Bitcoin during its ascend. Later on, it became clear that there are some flaws in the system, giving rise to the privacy coins boom.

It’s all relative, so let’s define the rules first: there are dozens of Bitcoin forks, but not all of them are remarkable privacy coins. There are also plenty of privacy coins, but not all of them are based on the Bitcoin source code (for instance, Monero).

In the following list, we’ve tried to include only the most advanced privacy coins based on original Bitcoin code. We used this comprehensive Privacy Coin Matrix as the basis for defining “advancement”. The matrix is a publicly available and constantly updated document. It’s the result of the collaboration of initiative developers that originally emerged on Reddit and went viral in May 2018. 

We also used CryptoMiso in order to identify initial source code of the privacy coins mentioned in the matrix. Interestingly enough, Bitcoin itself is also mentioned in the list and it flops badly when it comes to almost everything related to privacy.

Bitcoin-based privacy coin №5: Dash  

Dash (DASH) is an open-source, decentralized, digital cryptocurrency forked from Litecoin back in January 2014. Since the source code for Litecoin was Bitcoin, we are back to the roots. Although Dash’s privacy is far higher than Bitcoin’s, it still performs poorly in comparison to all the other coins analyzed in the Matrix.

Bitcoin-based privacy coin №4: Bitcoin Private

Bitcoin Private is an actual Bitcoin’s hard fork, with some enhanced features like cryptographic, and added sender and receiver privacy. It’s way better to solve the anonymity pickle, but it’s not very scalable and quite slow, e.g. private transactions computation time takes minutes.

Bitcoin-based privacy coins №3 and №2: Phore and PIVX

PIVX (PIVX) (previously known as DarkNet (DNET)) is an open-source, decentralized, cryptocurrency appeared in January 2016 (and rebranded as PIVX in February 2017) as a fork of Dash (and we remember that Dash’s source code is Bitcoin’s code).  As its original name proposed, the coin focus is anonymity of transactions and privacy, and it was designed to run on anonymous networks (like I2P or Tor).

Phore is a fork of PIVX with pretty much the same privacy and scalability features, with the theoretical max of 154 transactions per second (which comes close to PayPal average of 193 transactions per second). However, PIVX has a plan proposed for scalability: Bulletproof’s author Jonathan Bootle has joined project’s team and expects 90 to 95% private transaction’s size reduction.

Bitcoin-based privacy coin №1: Particl

Particl is an “open-source and decentralized privacy platform built on the blockchain specifically designed to work with any cryptocurrency”. The company’s mission is to encourage private and democratic economy supported by its native currency (PART).

This coin provides a great combination of privacy features and speed. Project’s team also has a clear plan on scaling, including utilizing the lightning network, Segwit, and bulletproofs.

The only downside is that top 100 addresses own 53.1% of a total coin’s supply.  But to be fair, the true decentralization (or the lack of it) is still the major problem of all cryptos.

The post Bitcoin’s low privacy almost fixed with these five coins appeared first on Coin Insider.

The End Goal

Ultimately, all stories have a message.

This ‘end goal’ is what you need to keep in mind when crafting your story.

If you think back to childhood, the books that were read to you inevitably had a lesson about life tucked away in the narrative. Their ‘end goal’ was to help you shape a view of the world and teach you right from wrong.

Brand stories (told through advertising) also have a message.

They want to leave you with an understanding of what it is that they stand for. The ads are simply the emotional vehicle to delivers this.

Let’s take a look at a few car brands as an example.

Volvo, the Swedish car manufacturer, has long been a brand synonymous with safety. All of their communication builds on this, from their innovations like ‘Life Paint’ to their bold goal of achieving no fatalities in any Volvo car by the year 2020.

BMW on the other hand has always been about driving pleasure. They have famously run with the tagline ‘The Ultimate Driving Machine’ in many countries around the world and the stories they tell tie back to this from their involvement in motorsport to high performance driving schools.  

Lastly, there is Mercedes-Benz who weave their brand narrative around luxury. They want you to feel as if owning one of their cars is a sign of having ‘made it’. To do so, they associate themselves with the Swiss watch brand IWC and sponsor glamorous events around the globe.  

The point is although they have very different stories to tell the outcome is still the same.

They sell you a car.

Original Source

The Curiosity Gap

Whatever you do now, do not read any further than this sentence. 

Be honest. Did you find it easy to obey this instruction or are you still reading these words?

If you did ignore it and continued, then congratulations! You are perfectly normal.

As human beings, we have an insatiable desire to figure out what comes next. In other words, we always want to know how the story ends. When we feel a part of the puzzle is missing, this creates what is known as a ‘curiosity gap.’

Think of it as the space between what we know and what we want or even need to know. This technique is so effective because the brain rewards itself for working things out. By incentivising us to problem solve, this serves a clear evolutionary purpose. It’s why those annoying ‘clickbait’ articles are so effective and why every episode of your favourite TV show ends on a ‘cliffhanger.’

This cunning plot device was invented to ensure the audience would return to see how the dilemma was resolved.  It dates as far back as the famous medieval Arabic text One Thousand and One Nights where the character Scheherazade narrates a series of stories to King Shahryār. She does this for 1,001 nights, with each night ending on a cliffhanger in order to save herself from execution.

The technique gained broad popularity in 19th Century Victorian England with the writer Charles Dickens. His novels pioneered the serialised format as a money making device (Dickens was able to make more revenue from selling his books as individual parts than as a whole). To keep his readers hooked, each new chapter would end with a key issue needing to be resolved. 

Interestingly, the term itself seems to have originated later in 1873 with the writer Thomas Hardy. At the end of one of his serialised accounts, the protagonist, Henry Knight, is left hanging off a cliff.

As a storyteller you can exploit this tool to great effect to build tension in your narrative. Just be sure to deploy it in the right set of circumstances to avoid it coming off as forced. 

Original Source

The First ‘Elevator’ Pitch

In 1853, an American named Elisha Otis discovered a solution to a critical problem: how to make lifts safe.

At that time, taking an ‘elevator’ was risky business. They were prone to malfunction, which was not much fun if you had climbed a dozen stories and then the central cable suddenly snapped.

Fortunately, the ingenious Otis had found a way to overcome this. He attached a large spring to the lift cage and added a series of ratchet bars within the shaft so that if the cable did break the spring-activated braking system would bring the lift and it precious cargo to a safe stop.

It was a brilliant idea with the potential to save a lot of money and many lives. The only problem was it was difficult to persuade the public that it actually worked.

Undeterred, the inventor rented out the main hall in what was then the largest exhibition centre in New York. There, he constructed an open lift shaft and platform for all to see. When it was finished, he gathered together a crowd of exhibition attendees.

He stood proudly on the platform and instructed an assistant to raise him up to a height of three stories using a pulley and rope. Once he had reached that height, he looked down at his audience and in a dramatic fashion, instructed his assistant to slash through the rope that was suspending him in mid-air.

The platform fell and the audience gasped in horror. Then, a second or so later, the safety brake engaged and brought Otis to a stop. Again, he looked down at the audience. Only this time, he said, “All safe, gentlemen. All safe.”

Apart from being the first demonstration of a lift safe enough to carry people, this historic event was also the world’s first ‘elevator pitch’. I.e. A short, simple and effective way to ‘sell’ an idea.

Elisa went on to found the Otis Elevator Company of which you are more than likely to have experienced (safely, no doubt) one of their products.

Original Source

Golem, BAT, and Factom: Three Altcoins projects to watch

We have been trawling through some of the more notable cryptocurrency projects and have found a delightful few to tickle your crypto-fancy, if you will.

Basic Attention Token (BAT)

This project has a focus on digital advertising and a hope to decentralize it.

Essentially, the company believes that online digital advertising is currently a bit of a zoo, and they are hoping to tame it.

This means that they are aiming to resolve some of the fundamental issues with online advertising, such as the tracking of internet users to use data for market targeting, and the monopolizing of advertising by giant platforms such as Facebook and Google.

BAT is hoping to create a space where advertisers, users and the network all work in a harmonious system where no one feels stalked or hard-done-by. In a nutshell, BAT is attempting to create a place where advertisements get watched and advertisers get paid.

Read more about BAT here.

Golem (GNT)

This cryptocurrency project is a two-fold concept which aims to provide a platform as a decentralized supercomputer for users to rent computer power while other users offer the space.

The supercomputer has been created to combine all of the computing power which has been offered from individual machines on its network. On the platform created, Golem users rent out spare space they might have on their computer to those who need the extra computing power for various tasks or actions.

We like the idea of this project because of the two-fold and win-win approach. Users loaning their space generate money and users needing the space have a secure and cost-effective way of finding it.

Read more about Golem here.

Factom (FCT)

This one is aiming to be a better, and not bitter project to resolve some of Bitcoin’s issues.

Factom’s development team are looking to resolve the issues on the Bitcoin blockchain, such as the glacial speed of transactions, the increasing cost of transacting and the congestion that occurs. Most of these come down to scalability and Factom are hopeful to sort it out.

Since this is not the first time a project has set out to resolve these problems, the project has taken a different tactic in the form of easy and secure auditing on the platform.  Documents and data files stored using Factom are audited easily which ensures security, accuracy and it keeps cost, block-time and protection at the ideal.

Read more about Factom here.

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Australia confirms plans to develop a National Blockchain Platform

Australian businesses and government-led enterprises have embraced blockchain in-between applications all the way from air travel to energy management, and now the nation’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has announced the development of what will be called the Australian National Blockchain.

As a nationwide platform, the Australian National Blockchain will serve as an infrastructure platform for Australia’s digital economy, where businesses will be able to develop smart contracts as well as confirm the status and arrangement of legal proceedings with transparency.

The platform will broadly enable Australian businesses to use smart contracts to manage business events and further record information from sources such as Internet of Things (IoT) devices.

The Australian National Blockchain will first be trialed on IBM’s Blockchain platform, and will see CSIRO, Herbert Smith Freehills, Data61, and IBM collaborate to develop the platform in a pilot phase.

Speaking on the development, Dr Mark Staples – a senior research scientist at Data61 – expressed that “Our reports identified distributed ledger technology as a significant opportunity for Australia to create productivity benefits and drive local innovation. Data61’s independence and world-leading expertise will help to catalyze the creation of digital infrastructure for Australian businesses to transition to a digitally-enabled future. For complex enterprise contracts, there are huge opportunities to benefit from our research into blockchain architecture and into computational law. Smart contracts have many applications, and as the ANB progresses we look forward to exploring other business use cases to roll out.”

Paul Hutchison, vice president and partner, Cognitive Process Transformation, at IBM Global Business Services added that“Blockchain will be to transactions what the internet was to communication – what starts as a tool for sharing information becomes transformational once adoption is widespread. The ANB could be that inflection point for commercial blockchain, spurring innovation and economic development throughout Australia.”

The platform aims to collate the interests of Australian regulators, banks, law firms, as well as businesses, and is scheduled to launch before the close of the year.

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Charlie Lee on Bitcoin: “It’s always good to buy on the way down”

In a new interview with CNBC, Litecoin founder Charlie Lee has gone to elaborate that Bitcoin remains a good buy for interested investors – noting that the recent market downtrend had created a new investment opportunity for long-term prize-seekers.

Speaking on air, Lee quipped that “It’s always good to buy on the way down to dollar-cost average your buy-in… As long as you don’t spend money that you can’t afford to lose, I think that’s fine.”

Cautioning users against using borrowed funds to invest in Bitcoin, Lee noted that “It’s hard to predict prices. I’ve been in this space for seven years now. I think sometimes it comes back within six months to a year, and sometimes it takes three or four years.”

Lee expressed that Bitcoin’s price movements – and the general price movements of the cryptocurrency market itself – was largely driven by speculation and that, in future, prices would generally reflect the success and adoption of a particular cryptocurrency itself.

Speaking on his own creation – Litecoin – Lee noted that he would not seek to re-invest in the cryptocurrency any time soon.

Earlier this year, Lee publicly sold his Litecoin holdings to avoid any allegations of a conflict of interest – and later expressed his intent to move away from the cryptocurrency entirely in the interest of decentralization.

At the time, Lee explained that “Litecoin is more centralized because I am around, so it has a more centralized development team, has more centralized foundation.”

Speaking to CNBC, Lee expressed the same sentiment – saying “I sold because of conflict of interest, so I’m not going to buy my litecoins back anytime soon — or at all.”

Bitcoin itself is down by -0.70% to trade at $7,009.06 USD, while Litecoin itself is down by -1.67%, and trades at $60.77 USD at press time.

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