#CryptoCorner: Binance Announces Binance X, Telegram Expecting to Release TON Code on
Sept 1 and Samsung’s Galaxy S10 Adds Stablecoin Support
Point Roberts, WA, Delta BC, August 30,
2019 - Investorideas.com, a leader in
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Stocks discussed: (KSE:005930)
Crypto exchange
giant Binance announced Binance X
yesterday. The project is described in a blog
post
as “a new initiative to foster innovation on the Binance platform and
blockchain ecosystem at large”. Binance X will see an expansion in the
company’s suite of products, including: an exchange, blockchain and crypto
education, a charity foundation, an information platform, an incubator for top
blockchain projects, a token launch platform, institutional-grade analysis and
reports, and an official crypto wallet. An excerpt from the blog post reads:
Our core exchange already has APIs to programmatically
access exchange functionality. And that includes margin trading and very soon
will also include lending and futures as well. Beyond the exchange, we also
have a multi-chain, non-custodial wallet called Trust Wallet, a public
blockchain with native DEX capabilities called Binance Chain, and a platform
that tracks charitable donations via the blockchain offered by our Binance
Charity Foundation.
In other words, we have become a platform that
third-party developers can build and leverage for their own products and
services. As a platform that is rapidly evolving, there is a need to provide a
cohesive way to engage and support developers in our ecosystem, and thus,
Binance X is conceived.
Binance has also released
a report analyzing expected
characteristics of China’s central bank digital currency (CBDC). According to
the report the currency will operate on a two-tier system, wherein “…the first
layer, the PBoC would issue and redeem China’s CBDC via commercial banks” and
“On the second layer, commercial banks would be responsible for re-distributing
China’s CBDC to retail market participants”. An excerpt from the report
conclusion reads:
The Chinese
Central Bank Digital Currency (CBDC) is a proposed digital legal tender
centrally issued by the People's Bank of China (PBoC), backed 1:1 by fiat
reserves. It aims at replacing the M0 supply, through the digitization of cash
and hence, would also rely on the credibility of the central bank. Some of its
core features relate to manageable anonymity and encryption along with China’s CBDC not
necessarily requiring a bank account (but may require KYC) to use the currency.
CoinDesk reports that
messaging app Telegram is expecting to release the code required to run the
company’s Telegram Open Network (TON) blockchain project on September 1. This
was gleaned from unnamed sources affiliated with the project. An excerpt from
the report reads:
With the upcoming code release, a broader range of
users will be able to run their own nodes. Users can only run nodes on testnet,
with a mainnet launch expected for Oct. 31, according to the purchase agreement
for Telegram’s 2018 token sale.
News outlet Uº
Today
reports that Samsung’s (KSE:005930) Galaxy S10 will
support 33 digital coins in total. Binance Coin (BNB), as well as the
stablecoins TrueUSD (TUSD), Maker (MKR) and USD Coin (USDC), have all been
added for the phone’s wallet support.
Sam Mowers,
Investorideas
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