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In a letter to investors released on July 29, Pantera Capital CEO Dan Morehead noted that the United States has printed a shocking amount of money to combat the pandemic-induced financial crisis.

“The United States printed more money in June than in the first two centuries after its founding,” Morehead wrote. “Last month the U.S. budget deficit — $864 billion — was larger than the total debt incurred from 1776 through the end of 1979.” Morehead made it clear that Pantera Capital sees Bitcoin as the solution for the current crisis. He also contrasted the effects of money printing in recent months, to how the equivalent amount of currency had performed across centuries.


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Despite early hype, real estate tokenization has failed to garner significant momentum, leading some to question its future viability.

As the initial coin offering (ICO) boom subsided and the 2018 crypto bear trend began to set in, many analysts predicted that security tokens may drive the next market cycle — with the vast capital locked in the real estate sector being eyed hungrily for tokenization. However, with the Bitcoin halving, Ethereum 2.0, and the emergence of DeFi capturing the imagination of crypto markets recently, real estate tokenization is no longer the flavor of the month, and some are questioning its viability.


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US GDP dropped a mammoth 32.9% in Q2, sharply contrasting with a cryptocurrency market that grew over the same timeframe.

The gross domestic product of the United States just had its worst quarter-to-quarter drop in history. But the economic slump hasn’t had an adverse effect on Bitcoin crypto. According to the US Department of Commerce’s Q2 report, US GDP fell 32.9% in Q2, the worst quarter-to-quarter change in the country’s history. The second worst plunge came in 1921, when GDP fell some 28%. For comparison, the most drastic hit to GDP during The Great Recession was in the ballpark of 8%.


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ZankCom

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Travala.com now offers a total of 3 million accommodation options users can book with cryptocurrency.

Online travel booking platform Travala.com has added one million new homes across 195 countries to its site with the release of a designated home bookings section called ‘Homes’. Holiday homes and apartments can be booked with over 30 different cryptocurrencies including Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), and Travala.com’s native coin AVA.


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ShareRing has launched an anonymous e-passport app with contact tracing in an effort to revive the $9 trillion global tourism industry.

Enterprise-focused blockchain company ShareRing has launched a blockchain based contact tracing solution it will offer to 2.6 million hotel and activity providers that currently use one of the company’s services. The anonymous e-passport app hopes to solve the privacy issues facing similar tracing apps. ShareRing’s app, which focuses on tourism’s $9 trillion tourism industry, allows users to upload important documentation, such as e-visa on arrival (eVOA), passport information, travel insurance, flight and accommodation bookings and a negative COVID-19 test result.


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Bloomberg finds Ethreum’s bull run to be speculative while contending that Bitcoin’s appreciation is driven by fundamentals.

The report points out that Ethereum faces “plenty of competition from similar crypto platforms and about 6,000 tradable coins.” On the other hand, Bloomberg has remained consistently bullish about Bitcoin, noting its gold-like qualities and increased institutional demand. The success of the DeFi space has led to the appreciation of Ether, with some comparing it to the ICO boom. As more smart contract platforms mature, competition will only get tougher. When it comes to the world of professional investors, Ether does not have a clear selling point like Bitcoin’s limited supply.


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ZankCom

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News of the cryptocurrency market:


4233815b8c07.jpg


Travala.com now offers a total of 3 million accommodation options users can book with cryptocurrency.

Online travel booking platform Travala.com has added one million new homes across 195 countries to its site with the release of a designated home bookings section called ‘Homes’. Holiday homes and apartments can be booked with over 30 different cryptocurrencies including Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), and Travala.com’s native coin AVA.


96d904b33504.jpg


ShareRing has launched an anonymous e-passport app with contact tracing in an effort to revive the $9 trillion global tourism industry.

Enterprise-focused blockchain company ShareRing has launched a blockchain based contact tracing solution it will offer to 2.6 million hotel and activity providers that currently use one of the company’s services. The anonymous e-passport app hopes to solve the privacy issues facing similar tracing apps. ShareRing’s app, which focuses on tourism’s $9 trillion tourism industry, allows users to upload important documentation, such as e-visa on arrival (eVOA), passport information, travel insurance, flight and accommodation bookings and a negative COVID-19 test result.


17d79e69a421.jpg


Bloomberg finds Ethreum’s bull run to be speculative while contending that Bitcoin’s appreciation is driven by fundamentals.

The report points out that Ethereum faces “plenty of competition from similar crypto platforms and about 6,000 tradable coins.” On the other hand, Bloomberg has remained consistently bullish about Bitcoin, noting its gold-like qualities and increased institutional demand. The success of the DeFi space has led to the appreciation of Ether, with some comparing it to the ICO boom. As more smart contract platforms mature, competition will only get tougher. When it comes to the world of professional investors, Ether does not have a clear selling point like Bitcoin’s limited supply.


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ZankCom

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The Chinese academic sector is “seriously lagging” in terms of keeping up with demand for blockchain specialists.

As the blockchain industry keeps expanding across China, there are concerns that the academic sector is failing to keep up with demand for comprehensive, undergraduate, blockchain-related educational programs. The head of the Digital Economy Development Research Center at the Beijing-based Communication University of China, Sun Daojun, said the first batch of “blockchain graduates” will start courses later this year and complete their studies in 2024.


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The Cannabinoid Association of the Netherlands has unveiled a blockchain-based CBD tracker for customers to trace a product’s journey from seed-to-sale.

Cannabidiol users concerned about the quality of their product in the EU can now trace the plant’s journey from when it was first planted in the fields to when it was sold in retail stores. An Aug. 6 statement from the Cannabinoid Association of the Netherlands (CAN) revealed it would make a blockchain tool — CanCheck — free for consumers to track cannabidiol (CBD) products in the EU online. HempFlax, one of the group’s founding members, and Europe’s largest independent grower and processor of industrial hemp, will be one of the first to offer traceable CAN products.


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A new analysis suggests the token supplies for most DeFi projects are not widely distributed, with up to 99% held by the top 500 addresses.

Token supplies for most decentralized finance (DeFi) projects are not widely distributed according to an analysis by the co-founder of DeFi Italy and Head of CryptoLab’s Digital Assets Investments Simone Conti. He compiled data from Defi Pulse and Etherscan that suggests that 90% of tokens for almost all DeFi projects are held by the top 500 addresses. For three of the projects, that figure rises to 99%.


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ZankCom

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Researchers at the Black Hat security conference revealed that crypto exchanges might be vulnerable to hackers. Although crypto exchanges have high privacy and security to protect their funds, researchers still found three ways hackers can attack these crypto exchanges, according to Wired on August 9.

Aumasson, a cryptographer, and Omer Shlomovits, cofounder of the key-management firm KZen Networks broke down the attacks into three categories: an insider attack, an attack exploiting the relationship between an exchange and a customer, and an extraction of portions of secret keys.


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Blockchain and crypto data platform LongHash revealed on August 8 in a tweet that China’s blockchain sector has grown substantially despite the pandemic this year. It stated that over 10,000 blockchain companies were established between January and July.

The report also shows the current number of blockchain-related companies in China is on track to surpass 2017’s total figure. LongHash said 2020 could also pass 2018’s total of 18,500 and for a new all-time high.


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The president of the Minneapolis Federal Reserve, who once claimed the Federal Reserve was flush with cash, called for a nationwide lockdown to fight COVID-19.

In an op-ed in The New York Times, Neel Kashkari and co-writer Michael T. Osterholm of the Center for Infectious Disease Research and Policy at the University of Minnesota said a more restrictive lockdown of up to six weeks is necessary to fight the virus and save the economy.


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ZankCom

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In a Cointelegraph interview, director of IBM financial services and digital assets, Nitin Gaur, shared how the technology company is helping financial institutions to capitalize on the DeFi movement.

Gaur — the author of Blockchain for Business — says it is essential that banks understand and embrace DeFi space. DeFi presents a set of regulatory challenges to financial institutions and IBM believes it can help their clients navigate it. However, most financial institutions are still in early exploratory stages when it comes to DeFi, and are stuck at the crossroads between true decentralized finance and just digitizing traditional securities. Regardless, Gaur foresees an entry “of the large banks, starting with investment banks.”


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With sentiment suggesting Bitcoin and the crypto markets are about to go on a bull run, seasoned old timers are warning about the lessons learned from previous rallies.

With Bitcoin correcting 5% in the past day, the Crypto Fear & Greed Index is back to 75. A measure of sentiment that looks at the volatility, market volume and social media activity of digital, a reading of 75 equates to “greed”, down slightly from 84 — or “extreme greed” on Aug. 10. But either way expectations are high of boom times ahead.


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Bitcoin acts more like a tech startup stock than digital gold — with investors reaping big rewards if it works but potentially losing everything if the crypto asset fails.

That’s the conclusion of an Aug. 10 report from digital asset manager CoinShares titled A Little Bitcoin Goes a Long Way. In it authors James Butterfill and Christopher Bendiksen argue that the fact Bitcoin (BTC) “starting its life at a price of zero” gave it a stellar reputation.


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The global P2P markets are pumping, with numerous African and Latin American markets touching new all-time highs for volume.

Combined global peer-to-peer (P2P) Bitcoin trading volumes have surged to their highest levels since January 2018, with nearly $95 million worth of Bitcoin (BTC) changing hands on Localbitcoins and Paxful in the first week of August. The spike comes as many Latin American markets have seen trade activity rally into new highs over recent weeks, with the Bitcoin P2P markets in Argentina, Mexico, Chile, Bolivia, Honduras, Paraguay, Uruguay and The Bahamas all posting record highs since the start of July.


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A proposed capital gains tax cut could be good news for crypto traders in the U.S.

A proposed tax cut by U.S. President Donald Trump could be a big win — or a relatively insignificant win — for the crypto industry if it is passed. There is a debate over the extent of President Trump’s ability to deliver tax cuts. The long term capital gains rate of 20% is primarily governed by Congress, so to deliver a big cut he’d need to get lawmakers on side via negotiation.


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Yam Finance uncovered a bug the day after ShapeShift CEO Erik Voorhees called the project a scam.

Yam finance (YAM), the latest fad in the crypto space, recently warned the public of a technical bug affecting the ecosystem. As the decentralized finance, or DeFi, crypto boom continues, something called yield farming has come into the spotlight. Yield farming is essentially the latest passive income fad in crypto. Yam has risen to the top of conversation recently as the headline act in the yield farming sector.


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Bitcoin’s seven-day average hash rate passes 129 TH/s for the first time as the price continues to meet resistance at the $12K level.

Data from Blockchain.com confirms that on Aug. 15, Bitcoin’s seven-day average hash rate reached a new peak of 129.075 TH/s. The achievement comes after two weeks of fairly stagnant hash rate growth, with the previous record set on July 28. Bitcoin and gold may prove to have a stronger correlation in 2020 as many investors turn away from traditional finance during the Federal Reserve’s and other central banks’ response to the pandemic.


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Asian countries have found ways to use blockchain amid the pandemic.

The Corona pandemic prompted many Asian countries to adopt blockchain technology to secure their data via the Internet against hackers and cyber thieves, according to a report from the Nikkei Asian Review. This increase in adoption comes as The Business Research Company said the global blockchain market is expected to hit $15.88 billion in 2023.


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Bitcoins Are Being Tokenized Faster Than They’re Mined as DeFi Craze Continues

Since Sunday, 1,043 more bitcoins were tokenized through Wrapped Bitcoin than were actually created by bitcoin miners as the Ethereum-based decentralized finance (DeFi) boom shows no signs of abating. About 900 bitcoins are mined per day, given the current issuance rate of 6.25 bitcoins minted per block and the target 10-minute block time. At last check, nearly 31,000 bitcoins have been tokenized on Ethereum, according to Dune Analytics, 75% of which were minted by Wrapped Bitcoin (WBTC).


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ZankCom

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A Canada-based Middle Eastern restaurant chain just converted their entire fiat cash reserves into Bitcoin.

According to an Aug. 19 tweet from Tahini’s — ‘the best Middle Eastern restaurant in the world’ — the decision to switch its cash reserves to crypto had its genesis in March’s crash, and when the Canadian government began to provide assistance programs for businesses unable to stay open due to the pandemic. With the United States and Canada printing money to prop up their ailing economies, Tahini’s owner Omar Hamam started to see the financial system as “a game of musical chairs being played right now and the music will stop and some people will get left out.”


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Jeju Island, a southern island in South Korea, is one of the most popular tourist destinations for Koreans and has about 15 million visitors annually.

It now requires those visitors to use a decentralized identity (DID) blockchain technology based app that claims to offer private, secure COVID-19 contact tracing. An August 19 announcement said that Jeju Province had reached an agreement with South Korean blockchain company ICONLOOP to introduce the system.


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Technology pioneer and cryptocurrency advocate John McAfee has just announced his departure from his own privacy asset project, Ghost.

McAfee has bashed Bitcoin in recent months for its lack of privacy. The tech expert set out to make his own proof-of-stake, or PoS, privacy-focused asset, tweeting about the endeavor on April 11, 2020. Subsequent reporting in May showed the project plagiarized content from the white paper of PIVX, another anonymity-focused crypto asset.


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ZankCom

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Japanese Finance Minister Taro Aso suggested blockchain would be key in the world’s battle against the coronavirus pandemic as the technology can be used for contact tracing while ensuring privacy.

Aso gave the opening remarks for the Blockchain Global Governance Conference, also known as the FIN/SUM Blockchain & Business, on Aug. 24 in Tokyo. There are almost 24 million COVID-19 cases around the world, with more than 60,000 in Japan. Despite the topic of Aso’s speech, a limited number of people were allowed to physically attend the blockchain conference, with others watching speakers through livestream coverage.


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Blockchain data storage and privacy start-up Sharder wants to increase its data storage space as it looks to provide the storage hub for the Island blockchain application.

The new application, called Boxes, punches up Sharder’s storage by an additional 96 terabytes. It’s current storage hub currently handles 32 terabytes. Sharder provides secure storage of files across multiple blockchains. Data is encrypted and then split into fragments before being distributed to different nodes. The company said its model ensures data is more secured this way. It also allows for easier authentication and validation of data.


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Tachyon Protocol, a blockchain-based network set up by proof-of-stake creator Sunny King, reported its decentralized virtual private network, or VPN, reached 1 million users worldwide last week after only six months.

The VPN has seen tremendous growth since May when Cointelegraph reported it reached 100,000 users. According to the website, Tachyon VPN allows users to bypass internet activity restrictions. It provides many features such as a P2P network without central nodes, multi-path routing to prevent single-point attacks, protocol simulation to disguise traffic in transit and free access to Facebook, Netflix, Spotify, and other platforms.


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