News Bytes for April 27, 2019
Former Paypal CEO Says Bitcoin Is really a Scam, And Investors Are “drinking the Kool-Aid”
Bill Harris, the first one Paypal CEO, believes Bitcoin seriously isn’t an effective strategy for payment. “I absolutely assume that money should be digital, is starting to become more digital, and will be completely digital yet it doesn’t mean political figures a new currency to record that,” said Harris.
Bitcoin Isn’t a Security: SEC Chairman
Speaking on Thursday in any?hearing?before property Appropriations subcommittee, Securities and?ExchangeCommittee (SEC) Chairman Jay Clayton told lawmakers that cryptocurrencies which function exclusively as mediums of exchange commonly are not?securities, unlike initial coin offering (ICO) tokens, that happen to be.
New Term Coined for Fundraising Cryptocurrencies: The ‘STO’
Initial Coin Offerings (ICOs) have the past as Security Token Offerings (STO) becomes the ultra-modern hot cryptocurrency fundraising buzzword. The rebranding, says the CEO of Overstock, “gives more clarity to regulators.”
Revolut, Europe’s Newest Fintech Unicorn, to incorporate Bitcoin Cash and Ripple Trading
As the UK-based Revolut closed their latest funding round, raising $250 million and bringing their total valuation to $1.7 billion, the fintech unicorn continued to maneuver full steam ahead by announcing they will likely add support for bitcoin cash and ripple trading to the mobile app.
Alibaba Pilots Blockchain Logistics Initiative In Combat against Food Fraud
The company has changed a blockchain-based Food Trust Framework as being a trusted sell for food products distributed through its network. It would begin by shipping products from Australia and New Zealand to China. ZDNet reports, “Alibaba is hopeful if the pilot occuring in Auckland is prosperous, the blockchain framework could form the basis of a new supply chain model applied across many of Alibaba Group’s ecommerce markets.”