#CryptoCorner: #Bitcoin Regains and Holds $7K Support Rallying Over Long Weekend, Deutsche Börse Sets Up Dedicated Distributed Ledger Team, Report Shows #Alibaba Responsible for 10% of #Blockchain Patent Applications and Philippines Move Closer to #Crypto Exchange Sector Rules
#CryptoCorner:
#Bitcoin
Regains and Holds $7K Support Rallying Over Long Weekend, Deutsche Börse Sets
Up Dedicated Distributed Ledger Team, Report Shows #Alibaba Responsible for 10%
of #Blockchain Patent Applications and Philippines Move Closer to #Crypto
Exchange Sector Rules
#Stocks discussed: (XETRA: DB1.DE) (NYSE: $BABA)
September 4th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA, Delta BC September 4, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner, now available in podcast.
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Read this in full at https://www.investorideas.com/news/2018/crypto-corner/09041Bitcoin-Deutsche-Alibaba-Philippines.asp
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Crypto
Corner – September 4, 2018
Bitcoin Regains and Holds $7K Support Rallying Over Long Weekend,
Deutsche Börse Sets Up Dedicated Distributed Ledger Team, Report Shows Alibaba
Responsible for 10% of Blockchain Patent Applications and Philippines Move
Closer to Crypto Exchange Sector Rules
Stocks discussed: (XETRA:DB1.DE) (NYSE:BABA)
When we left off on Friday, the total market cap
was $225 billion USD and Bitcoin (BTC) was struggling to regain its $7000 USD
support level. After an impressive long weekend rally, however, data from CoinMarketCap indicates that the total market cap is about $240 billion USD at press
time, with Bitcoin now trading at $7363 USD. This is the highest the flagship
crypto has traded for about a month.
German capital market company, Deutsche Börse (XETRA:DB1.DE), has launched a new team dedicated to exploring
the application of distributed ledger technology, according to a recent press release. The leader of the 24-person team, Jens
Hachmeister, outlined the importance of the venture in adapting to the changing
capital landscape:
"From
Deutsche Börse’s point of view, the DLT/blockchain technology is a key
opportunity for the creation of new market structures, adding new products onto
our present structures and enhancing our existing offerings," he says.
"Of course, the expectations are high and not all of them will be
fulfilled - blockchain will not be the answer to all our questions. Yet the
digital economy in general is heading for decentralisation. In future, there
will be more peer-to-peer governed marketplaces and less intermediaries. In
that regard, blockchain has the potential to disrupt the capital markets
infrastructure."
Nikkei Asian Review reports that Chinese tech giant Alibaba
Group (NYSE:BABA), is responsible for 10 percent of the world’s blockchain
patent applications. This may seem at odds with the hostility toward
cryptocurrencies demonstrated by Beijing, but is indicative of China’s
initiative to lead in blockchain technology more broadly. The report quotes
Taiwan-based Eiger law partner John Eastwood, a specialist on intellectual
property and technology:
"Blockchain
is a new technological landscape where it could be very profitable for Chinese
companies to grab significant territory in their patent claim language. Holding
several patents helps to give an aura of legitimacy that helps many companies
in the blockchain field to attract investors or acquirers."
The
Philippines Securities and Exchange Commission (SEC) said crypto exchanges
could operate as trading platforms in the country with proper oversight from
regulators, according to a report in the Manila Times yesterday. SEC Commissioner Ephyro Luis Amatong told the
press that regulators aimed to release draft rules for the crypto sector by the
end of next week. Amatong indicated that Australia and Switzerland’s regulation
of virtual currency exchanges (VCEs) were being considered as templates for the
developing Philippine framework.
Sam Mowers, Investorideas
Crypto Corner Sponsors:
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More info on the sector:
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