How will BTC.com and AntPool’s actions impact SegWit transactions?

Colleagues, a titanic battle of cryptocurrency miners is forcing the issue a crucial Blockchain hardfork vs. softfork. In the hardfork camp, Bitmain affiliates BTC.com and AntPool. Meanwhile, the Bitcoin Core camp is defending a softfork. Caught in the middle is SegWit (“Segregated Witnesses”). Apparently, BTC.com and AntPool are refusing to confirm SegWit block transactions. Bitmain favors increasing the limit of block size. A brief history lesson in Blockchain programming shows that hardforks – if not fully supported by the crypto ecosystem – can lead to divisions of the broader crypto community. Such is the case of the 2017 hardfork, which led to the split of Bitcoin into Bitcoin and Bitcoin Cash. This issue is playing out in real-time and the Cryptocurrency Academy will provide an update once details are confirmed. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Investors Take Note – Intercontinental Exchange Will List its First Bitcoin Futures Contract in December

Colleagues, the advent of the ICE Bakkt physically settled daily Bitcoin futures contract would bring cryptocurrencies to the mainstream for institutional investors. The NYSE’s parent company, ICE, decided that a futures contract rather than a security was the most efficient route to market given the Commodity Futures Trading Commission’s “self-certification” process when compared to the US SEC’s stringent process for approving ETFs.  Each futures contract will be valued at one (1) Bitcoin – currently trading at $6319.09 USD held in the Bakkt Digital Asset Warehouse. While most investor attention has been focused on have cryptocurrencies categorized as “securities” (under the auspices of the US SEC), the ICE Bakkt futures scenario opens-up a new vehicle for the trade of digital assets. We anticipate similar moves by the US CBOE and its counterparts in Europe and Asia over the next 12 months. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Monumental Challenge with Universal Benefits – OEM Apps on Mobile Devices or Embed Crypto Tools into Browsers

Colleagues, the Cryptocurrency Academy has written extensively about the need for digital assets to cross the chasm from early adopter to mass-market adoption. We see several financial management firms launch crypto trading and custody services for institutional clients. We would like to offer two potential approaches, which could dramatically accelerate individual trader transactions and dollar value. One strategy is to OEM a crypto trading app onto all smartphones, tablets and laptops – a simple pre-install placing the app on the ‘home’ screen alongside email, weather, search and IM. Second, a much more challenging approach would be to embed a crypto trading API pre-installed in Chrome, Firefox, IE and Safari. This is precisely what the World Wide Web Consortium (W3C) is considering with regard to Bitcoin’s Lightning Network. Bitcoin averages some 275k transactions and $3.7B+ in market value per day (CoinMarketCap). The implementation of either or both of the above techniques could help Bitcoin, Altcoin and Stablecoins truly reach escape velocity. We predict implementation led by W3C along with tier 1 browser and device vendors for industry-leading BTC within 24 months. Share a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Can Blockchain deliver security, performance and dependability for Japan’s new Payment Clearing Network?

Colleagues, Blockchain technology is about to meet once of its biggest challenges to date – the Japanese Banks' Payment Clearing Network consortium. The critical success factors include performance, security and dependability when processing of low-cost transfer of small-scale transactions using RTGS.for nine commercial banks. Fujitsu has been selected to develop the new Blockchain-based system. If this test proves successful, it will clearly distinguish Japan as a “first mover” when it comes to the industrial use of Blockchain technology among the world’s leading economies. One advantage here is the fact that all the players are Japanese owned and operated entities and may benefit from both technological and well as cultural synergies. China, South Korea and the US will closely monitor this stress test as they seek to implement comparable systems. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Does Blockchain’s DLT hold the key to Central Bank Digital Currency Adoption?

Colleagues, we have written extensively on the propensity of central sovereign banks to issue their own cryptocurrencies. The US Federal Reserve and the PBoC appear to be on opposite ends of the adoption continuum. New research published by the OMFIF (Official Monetary and Financial Institutions Forum) and IBM point us to the Occam’s razor of CBCD adoption: Distributed Ledger Technology (DLT). Download the CBDC report here. Private sector ICOs continue to rise with no end in sight. While they understand that their underlying Blockchain technology likely has bugs and security vulnerabilities, financial institutions in particular – such as JP Morgan, Fidelity, BlackRock, etc. – clearly see the benefits of trans-border remittances, increased transaction speed and lower OPEX. In aggregate central bankers have major reservations on the security and dependability of DLT. The report states that the goal is to “construct a convincing RTGS replacement that can be properly benchmarked against existing systems and meet the high standards for security, robustness, efficiency and speed.” The PBOC is hiring staff to develop its CBDC as we speak, whereas the US Fed is cautiously assessing its options. Many other central banks are somewhere in between. Our prediction: By 2023, most G20 nations will have launched their own CBDC. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Security Lies in the Balance as Blockchain’s LockBox Wallet Uses the SWAP Crypto-to-Crypto Brokerage

Colleagues, does the global cryptosphere truly need another hardware wallet? The CEO of Blockchain clearly believes the answer is yes, indeed. The firm has announced plans to begin shipping its new LockBox device this November. LockBox’s distinguishing features is that it enables the exchange between different cryptocurrencies in partnership with SWAP brokerage. The value proposition is that traders can exchange Bitcoin for Ethereum, XRP for LiteCoin, Ripple for Ether … you get the idea. Two key factors will determine the success of LockBox. First is the Total Addressable Market from “crypto-to-crypto” transfers. With a global market cap of some $209B we anticipate that roughly 10% of crypto traders will need to make such a transfer during their financial careers. Second is the infamous security challenge – how secure is the hardware wallet when connected to the Internet as well as the security of LockBox’s interface with the SWAP brokerage when making transactions. Our recommendation: Proceed with caution. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/) 

Japan’s Financial Services Agency Grants Third Party to Self-Regulate Cryptocurrencies – Is a Similar Move Likely in the US?

Colleagues, the Financial Services Agency of Japan has granted approval for the Japanese Virtual Currency Exchange Association (JVCEA) to self-regulate the exchange of cryptocurrencies. Officially referred to as a "certified fund settlement business association” (aka the Association of Certified Fund Settlement Business Operators). The scope of the JVCEA appears to encompass the definition of crypto exchanges policies, enforcement and impose unspecified penalties on violators. This surely comes as music to the ears of Coincheck, Bitbank, GMO and other exchanges based in the island nation. Bottom line: Would Japan’s self-regulation model be acceptable to the US SEC or CFTC? Answer: Not a chance. Both US regulatory bodies – while seeing the potential value of cryptocurrencies – have major reservations regarding the security of crypto exchanges, illicit activity performed on crypto exchanges (such as money laundering, contraband and the undermining of economic trade sanctions) as well as the legal categorization of digital assets as bona fide “securities” or “commodities”. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)