#CryptoCorner: Samsung May be Working with #Crypto Startup GatePay, WEF Reveals CBDC Framework, Grayscale Investments (OTC: $GBTC) Becomes Reporting Company for SEC

#CryptoCorner: Samsung May be Working with #Crypto Startup GatePay, WEF Reveals CBDC Framework, Grayscale Investments (OTC: $GBTC) Becomes Reporting Company for SEC

Point Roberts, WA, Delta BC January 23, 2020 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .

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Stocks discussed: (KSE:005930) (OTC:GBTC)

Alexander Drummond, co-founder of crypto payments startup GatePay, revealed to Cointelegraph during an interview at the World Economic Forum (WEF) at Davos that the company may be about to work with electronics giant Samsung (KSE:005930). Specifically, Drummond said:

“We’re about to partner with the largest or second-largest payment network in the world. If people have a typical Android phone, they’re likely already tied into this ecosystem. I can only tell you that we’re close to announcing a collaboration with Korea’s largest consumer electronics manufacturer.”

Though he did not specifically identify Samsung, they are, in fact, “Korea’s largest consumer electronics manufacturer”.

Also at Davos, the WEF developed a framework to help central banks evaluate, design and potentially deploy CBDC, in collaboration with “over 40 central banks, international organizations, academic researchers and financial institutions.” Sheila Warren, Head of Blockchain and Distributed Ledger Technology at the event,

“Given the critical roles central banks play in the global economy, any central bank digital currency implementation, including potentially with blockchain technology, will have a profound impact domestically and internationally. It is imperative that central banks proceed cautiously, with a rigorous analysis of the opportunities and challenges posed.”

She went on to say:

“The toolkit can serve as a springboard as central banks progress with their CBDC investigation and development. The intricacies of implementing CBDC are complex and the implications are widereaching. As a result, policymakers may find themselves in uncharted waters when attempting to evaluate the potential benefits and tradeoffs.”

Grayscale Investments, the digital currency asset manager and sponsor of Grayscale Bitcoin Trust (OTC:GBTC), announced that it is now a reporting company for the U.S. Securities and Exchanges Commission (SEC). According to the press release, it is “the first digital currency investment vehicle to attain the status of an SEC reporting company.”

Crypto exchange Gemini has completed the System and Organization Controls (SOC) 2 Type 2 examination, making it “the world’s first crypto exchange and custodian to demonstrate the highest level of security compliance in the industry,” according to an official blog post today. An excerpt from the blog post reads:

Going forward, we will be completing a SOC 2 Type 2 on an annual basis. We believe this kind of assurance, in addition to other safeguards we have implemented, such as digital asset insurance for our hot wallet and Gemini Custody helps protect our customers data and cryptocurrency and further our mission to empower the individual through crypto.

Sam Mowers, Investorideas

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