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Ivy News

Have questions for the Ivy Project? Visit our new Knowledge ...

Have questions for the Ivy Project? Visit our new Knowledge Center! https://t.co/WX9mrQwmG9 #blockchain #ivyproject… https://t.co/lzBbgEJZf6

5 days ago

Did you catch the latest AMA Livestream with the Ivy Project...

Did you catch the latest AMA Livestream with the Ivy Project Team? You can watch it here or read through the full t… https://t.co/GzRyhC2jzJ

14 days ago

Zimbabweans Use BTC to Pay for Food Hampers Amid Foreign Currency Crisis

Study263, a Zimbabwean-owned fintech startup operating from South Africa, has opened an online store allowing Zimbabweans to buy food hampers that are delivered directly to their homes. Shoppers have the option to pay for items like cooking oil and baked beans in BTC, Paypal or Ecocash, a local mobile money payment system. Also Read: Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia As Prices Spiral, Study263 Helps Zimbabweans Import Food Using Bitcoin The southern African country of Zimbabwe, which adopted the U.S. dollar after abandoning its currency at the height of hyperinflation in 2009, is gripped by a shortage of foreign currency which has seen prices of imported goods spiral in recent weeks. Some supermarket shelves have emptied as shoppers panic buy, stocking up on essential goods such as mealie meal, beef, bread and cooking oil in fear of a return of the 2008 food and prices crisis. Until recently, fuel was in short supply, and basic foodstuffs remain scarce or are priced out of reach of ordinary people. Tinashe Jani, co-founder and chief executive officer of Study263, told news.Bitcoin.com that the idea was conceived early October, “when colleagues and family in Zimbabwe started complaining of shortage of basic commodities as prices increased daily.” At the time, for example, the price of cooking oil moved from $3.20 to $20 per two-litre bottle, if available, he said. “Our regular customers for sending money back home started hinting that the money they are sending isn’t buying much any more and that if only they could send groceries with someone they trust,” said Jani, whose company was founded in 2017, initially to help Zimbabweans studying abroad pay fees with ease using cryptocurrency. Around mid-October, Study263 tested out the market and received a positive reception. People suggested what grocery items they would want included in the hampers, which are designed to cater for different types of family setups according to income levels. “We analyzed other players in the market and realised our strength was in our acceptance of all forms of payment, including bitcoin,” Jani stated. ‘We have the mini blue, blue and mega blue hampers, which contain the most basic food commodities. The red hamper caters for toiletries and the purple hamper caters to those who want the more expensive products,” he added. South African Imports Driving Trade The goods are imported from neighboring South Africa before they are delivered to the buyer’s home within 10 days of payment. A deal by Study263 with a Harare-based logistics company ensures safe delivery. To make payment in BTC, shoppers typically send the bitcoin equivalent to a given address, which the company converts to fiat to facilitate purchase of the product on order. Jani said customers have slowly been coming on board since the service was launched earlier this month. Study263 will have to pay taxes on imports. But the waiver on import licenses announced by the Zimbabwe government a few weeks ago allows the company to operate without one. The import licenses suspension - enacted as part of efforts to ease basic food shortages - gives holders free funds to bring in a select number of goods from other countries license-free. “Our hampers are selected from a variety of shops to ensure affordable pricing. They are also flexible to allow other customers to pick and drop items,” Jani detailed. “In terms of payment, our packages are pegged against the U.S. dollar and upon need to transact we convert to whatever the client wants to use to pay, from Paypal, cryptocurrency and Ecocash.” Bitcoin Payments Catching on in Africa Cryptocurrency may be banned in Zimbabwe, but bitcoin is helping ordinary folk make payments bank-free. It makes for a great fit for the more than 10 million Zimbabweans who lack access to basic banking services. And it’s even more beneficial to the banked few, a distrusting lot, who are keen to protect their savings against bank failure, inflation or even political turmoil. Bitcoin is also being used to pay for TV subscriptions (a service offered by Study263) and accommodation rentals. But above all, it is looked at more as a store of value against fiat currency devaluation, rising inflation and policy uncertainty, as is the case is across much of Africa. In east Africa, a new deal between digital currency exchange Bitpesa and a Japanese firm shows Kenyans are using bitcoin to pay for used Japanese cars, cosmetics and electrical gadgets. In Nigeria, Sure Remit is helping make cash transfers cheaper and in Ghana some small businesses have started to accept payment in BTC while basic services like buying mobile phone airtime and data can also be done using the digital currency. What do you think about the Study263 initiative? Let us know in the comments section below. Images courtesy of Shutterstock. The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were a

23 days ago

IBM, Columbia University Support Startups with New Blockchain Courses

IBM’s almost frenetic blockchain charge continues with the multinational giant’s announcement of plans to combine with Columbia University to provide two accelerator programs for blockchain-based firms. The Ivy League research university’s Columbia Blockchain Launch Accelerator is an eight-week program designed for pre-seed formulating companies with affiliations with either Columbia or any other New York universities. IBM’s press release explained the usefulness of the new program for other participating universities should they choose to sign up: “The goal of these programs is to help network founders develop their ideas into sustainable and scalable companies offering blockchain solutions. For those already further along in their journey, the programs are designed to help them achieve scale and build successful business networks.” IBM added that the accelerators would “will offer entrepreneurs and blockchain network founders around the world access to the expertise and resources they need to establish blockchain networks”. The two programs are each to target ten startups and will involve mentorship using technical, academic and business mentors from IBM and Columbia, plus enrolling student will have access to IBM’s agile design workshops as well as use IBM’s Cloud technology. Students will be offered extra support through connection to researchers from Columbia as well as other students. The second of the two programs, the IBM Blockchain Accelerator, another eight-week course, is designed for companies at a more advanced stage of growth, taking place in New York and San Francisco. Of the two accelerators, Columbia Blockchain Launch Accelerator Executive Director Satish Rao said: “Early- and late-stage teams will undoubtedly benefit from IBM’s technology resources, expertise and established network coupled with Columbia’s ground-breaking research and talent in blockchain and data transparency, all while benefiting from rapidly growing NYC blockchain communities.” As IBM continues to demonstrate its determination to use blockchain research and development in a number of sectors and play an active role in pushing the technology into mainstream use, Columbia itself has been no slouch in expressing its opinions on DLT. In a recent edition of the university’s Columbia Journalism Review, a report on the events of its most recent panel discussion entitled ‘Blockchain in Journalism: Promise and Practice’ outlined its findings in how blockchain could impact journalism. The panel found that key resistance to blockchain adoption was a general lack of knowledge. The panel felt that the stigma of cryptocurrency was still there to be overcome, including public fears of volatility and its past connections with criminal activity. They also felt that the dearth of available information to the public regarding blockchain’s workings and its numerous potential applications across all sectors was still a barrier to adoption. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post IBM, Columbia University Support Startups with New Blockchain Courses appeared first on BitcoinNews.com.

23 days ago

Australia’s IvyPay Allows Users to Pay Their Bills Using Digital Currencies

In a bid to make cryptocurrencies useful rather than speculative, Australian-based HiveEx and Ivy partnered to create a new service dubbed IvyPay. Despite being a booming industry, the crypto sphere faces the same challenges as it did since its inception. Spending cryptocurrency is very tough, and this difficulty has created a high demand for intermediary services. IvyPay alleviates this problem by allowing its users to pay their bills using cryptocurrencies. It also facilitates the direct sending of funds to one’s bank account. However, IvyPay is set to get stiff competition from Living Room of Satoshi which offers similar services. (KE)

23 days ago

Aussie Crypto Exchange HiveEx and Blockchain Startup Ivy Launch Crypto-to-Fiat Transfer Service

IvyPay, which is a product of crypto trading platform HiveEx.com and blockchain startup Ivy, is doing its part to bring cryptocurrencies to the mainstream in Australia. The project has launched a service that gives local crypto investors the ability to direct their holdings toward paying bills or a bank account. HiveEx Co-Founder Fred Schebesta said the idea is to "bridge the gap" between crypto and fiat money. For instance, one of the hurdles to crypto adoption has been an inability for crypto holders to transfer crypto to a checking or savings account. Transfers have a percentage-based fee attached. (GT)

24 days ago

Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia

Ivypay, a cryptocurrency-based payments platform, was launched in Australia on Nov. 19. The service — built by blockchain company Ivy in partnership with Hiveex, a cryptocurrency broker — allows Australians to use digital currencies to pay bills and transfer money directly into their bank accounts. Also Read: Islamic Countries Challenge USD ‘Sanctioning Tool’ With Planned Common Cryptocurrency Mainstreaming Cryptocurrency Use The developers of Ivypay, which was released in beta earlier this month, aim to bring cryptocurrency into the mainstream by streamlining the spending process. Users pay a 2 percent fee on the total amount of each transfer. The application currently supports bitcoin, ethereum, litecoin and ripple. “Our partnership ... will enable everyday Australians to use cryptocurrency to pay their bills, pay off their credit cards, or convert to Australian dollars deposited in their bank accounts at some of the lowest rates on the market,” Ash Shilkin, president of Ivy, said in a statement to news.Bitcoin.com. Shilkin acknowledged that virtual currencies are still far from reaching widespread adoption as a means of payment. However, applications such as Ivypay are starting to bring such objectives closer to reality, he claimed. “We are pleased to have Ivypay on the market, while we build out the Ivy network as a bridge between those with cryptocurrency, and traditional financial institutions,” said Shilkin, adding that the company will roll the service out in countries such as the U.S. later this year. Limited Cryptocurrency Use for Bill Payments A recent survey by Hiveex and Ivypay indicated that about 2.58 million Australians now own cryptocurrencies of some form, with more than 2,500 bills paid in virtual currencies in the country every month. Of those who don’t own digital assets, 49.5 percent said they would buy some or consider doing so if they could transfer funds directly into their bank accounts. One in 10 respondents who said they don’t own cryptocurrencies stated that they are hesitant to invest because they can’t easily transfer such currencies into their bank accounts, according to the companies, which surveyed 1,997 Australians. “Despite cryptocurrency being around for the past decade, it still has quite a while to go before it’s as widely used as fiat currencies, like the Australian dollar,” said Fred Schebesta, co-founder of Hiveex, a company that was established in February to help people buy and sell cryptocurrencies, particularly large trades of more than 50,000 Australian dollars ($36,500). Schebesta added: We wanted to help build a platform to bridge the gap between fiat and crypto. It’s inevitable that cryptocurrency will have mass adoption when we create more ways to use it that are easier and cheaper alternatives to traditional banking. It’s going to shake up the way we pay for everything. Founded in 2017, Ivy is partly owned by Australian Stock Exchange-listed Change Financial. It raised over $17 million at the start of this year in a private sale of tokens to build out its blockchain-based payments technology. What do you think about the Ivypay payments platform? Let us know in the comments section below. Images courtesy of Shutterstock. The Bitcoin universe is vast. So is Bitcoin.com. Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page The post Ivy and Hiveex Launch Ivypay to Facilitate Consumer Bill Payments in Australia appeared first on Bitcoin News.

24 days ago

📣 Ivy Project Updates - November 2018 📣 Updates from Ash, I...

📣 Ivy Project Updates - November 2018 📣 Updates from Ash, IvyPay update, AMA info and more… Some weekend reading f… https://t.co/1V2Aw0VMIx

a month ago

Check your inboxes Ivy Fans because the Bi-Weekly email disc...

Check your inboxes Ivy Fans because the Bi-Weekly email discussing the AMA with Ivy President, New COO, Marketing U… https://t.co/obMvk8Vh4b

2 months ago

Long Awaited Institutional Investors on their Way to the Crypto Scene

CNBC’s Brian Kelly had some good news for cryptocurrency investors who have been eagerly awaiting the entrance of “institutional” money to the cryptocurrency sector. Appearing on the “Power Lunch” segment, Kelly said Bitcoin and altcoins should be in for a boost as major financial institutions are gearing up to enter the space. “I can tell you from the conversations that we’ve had, for our crypto hedge fund, that the institutional herd is starting to enter this market.” Kelly says that the recent announcement by Fidelity to launch the Fidelity Digital Asset Services or FDAS is a huge step forward and a hurdle jumping kickstarter for other major financial institutions to follow suit. “Custody has been a very big hurdle. And having somebody like Fidelity put their stamp on it and say yes, this is a new asset class and we’re going to custody this - and I believe they even said they may have some insurance. So that is a step closer.” When asked when this building wave will finally hit, Kelly said he thinks the institutional bull run is imminent. “Soon. I think very soon. It wouldn’t surprise me to see a lot of those companies have something working in the background by Q1 of 2019. I mean if you’re looking at this, there are a couple things you need to think of. Fidelity is in this space. Also, remember that startups like Robinhood launched a crypto app and got a million users in four days. So if you are at Schwab or you’re at E*Trade, then you may start to look at that and say, “Where are the customers?” And they’re in crypto, so you gotta offer that product.” Kelly and others have said that the FOMO buying that is practiced by onlooking individuals can also be applied to these finance industry giants. He also mentioned the move Yale has made that will bring hundreds of millions into the market, but also Ivy League credibility. Kelly is expecting the entire financial industry to jump in one after another now that Fidelity has taken the plunge. The post Long Awaited Institutional Investors on their Way to the Crypto Scene appeared first on ZyCrypto.

2 months ago

North America: Crypto and Blockchain News Roundup 12-18 October 2018

North America Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. USA Department of Justice to Auction 660 BTC: The US Department of Justice is selling 660 BTC ($4.2 million) that were accumulated from various criminal proceedings. The US Marshals Service (USMS) that works under the umbrella of the Justice Department, posted a notice on its website regarding the auction. A USD 200,000 refundable deposit is needed to enter the bidding process which will be done via sealed bids by 31 October 2018. The sealed option was undertaken so that bidders cannot see each others’ bids and adjust their own price. 6 sets of 100 BTC will initially be up for auction followed by one set of 60 BTC. Toyota Using DLT for Ad Buying in the USA: World’s largest car manufacturer Toyota is working with a blockchain advertisement firm to reduce fraudulent activities on digital ads. Lucidity, the blockchain company in question is offering enhanced solutions to the car company for its advertising campaigns for the $15 billion US market. With the help of the system, Toyota can now flag sites and apps with high impression and click discrepancies, thus saving up valuable funds. Crypto Donations from Alumni being Debated: An increased number of cryptocurrency donations are being made to universities prompting debate on their standing in the educational centers. The universities themselves are, however, reluctant to accept them. According to Nicolas Cary, the co-founder of Blockchain website, he had a tough time having his 14.5 BTC donation accepted in the university. He said: “I had to do a little bit of convincing for them to accept it. They wanted to dig in about how it works and what the process would be. We had a lot of conversations.’’ The problem for many institutions is that many simply don’t have a process for such donations. Even Ivy league colleges like Yale and Harvard have been slow in adopting frameworks for cryptocurrency donations. USD Tether Struggles While Gemini and other Stablecoins Surge Above Parity: The USD stable coins are showing mixed behaviour as by far the principle stable coin USD Tether lowered while Gemini, USDC and PAX surged above parity. Insolvency issues are reportedly dogging the further adoption of USD Tether, thus causing benefit to its smaller competitors. Former Commodities Regulator Says ICOs Should be treated like Securities: A former chairman of the US Commodities and Futures Trading Commission (CFTC) has reiterated that ICOs should be considered as securities. Gary Gensler, the former chairman of the CFTC made these comments while acknowledging the uniqueness of cryptocurrencies. He made the case that except top cryptocurrencies, all other ICOs should be treated securities to help protect investors. Joint Investigation Finds SEC Moves Damaging to US Blockchain Startups: A Joint Investigation conducted by Yahoo Finance and Decrypt Media has found that the moves by the SEC are negatively affecting cryptocurrency and blockchain adoption and development in the country. The attitude of the SEC involves exerting pressure on companies with subpoenas and fines and it has led to many companies moving away from the US to crypto-friendlier shores. Canada Marijuana Legalization Brings DLT to the Center: Canada legalized recreational marijuana in the country and blockchain companies are racing to get a share of the pie. Cannabis has historically been connected with cryptocurrencies and blockchain and now that it has been legalized, more investment and innovation is expected in the sector. Various blockchain-based cannabis companies have announced moves into the now legalized multi-billion dollar industry. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post North America: Crypto and Blockchain News Roundup 12-18 October 2018 appeared first on BitcoinNews.com.

2 months ago

Warren Buffett’s protégé is backing a local rival to Google and Facebook in India’s payments battle

After Todd Combs joined Berkshire Hathaway in 2010, he made an early bet on the payment industry through his investment in Visa. The card payment company’s stock has gained about 500% since then. Warren Buffett’s investment conglomerate also holds stock in Mastercard, which has rallied dramatically. This week, Combs, a former hedge fund manager, reportedly bought a stake in the owner of India’s largest digital payments firm, Paytm. The investment brings the Oracle of Omaha’s company into a crowded field of global tech giants vying for a piece of India’s electronic payments network. Alibaba of China and Japan’s SoftBank already have stakes in Paytm, and the list of tech companies competing with the Indian payment provider—including Amazon, Google, Flipkart-owned PhonePe, and Facebook—is just as distinguished. This week, Google said it also plans to offer loans in India through its payment app. Omaha-based Berkshire has traditionally invested in companies with specific qualities, like a defensive moat protecting the business, strong long-term prospects, and a modest valuation. Buffett, the CEO, is generally wary of tech companies, but Combs and Ted Weschler, another potential heir to the Berkshire empire, have been more open to the industry, snapping up shares of Apple (paywall) a few years ago, for example. Paytm CEO Vijay Shekhar Sharma had his first meeting with Combs in Omaha in February—on Valentine’s Day, a good day for forging new relationships—according to the Economic Times. They reportedly discussed the shift to mobile in China and India, and the potential for mobile payments to usurp traditional networks. Terms of the Paytm deal were kept private, but Berkshire reportedly invested (paywall) at least $300 million in parent firm One97 Communications, which has previously been valued at $10 billion. Berkshire has been rewarded for its forays into payment company investments to date: Combs and Weschler are credited with the decisions to buy Visa and Mastercard, while American Express was Buffett’s idea. But does Paytm belong in the portfolio for the Nebraska-based conglomerate that also owns, of all things, a railroad? Consider that Visa and Mastercard are often referred to as “payment rails,” as their infrastructure is vital and difficult to replicate. Berkshire, for its part, often seeks out toll-taking businesses that profit from a steady stream of fees or charges. While the battle for India’s payments market is far from settled, Paytm’s CEO told the Financial Times (paywall) that Berkshire’s investment is “validation of Indian entrepreneurs fighting the global companies in this country.” The stake suggests Combs is confident Paytm will emerge a winner in the shift to electronic payments in one of the world’s most populous countries. The future of finance on Quartz Although the world’s tech giants are bullish on India’s payment sector, demonization has flopped. Even as electronic payments increase, cash is far from extinct. Cornell leads the Ivy League when it comes to offering crypto classes. Even if it proves a fad, the economics, cryptography, and legal principles involved in the technology could be important for students down the road. As bitcoin’s bear market drags on, crytopreneurs are eager to trumpet every small rise as the start of a renewed upturn. Binance founder Changpeng “CZ” Zhao posted a bullish forecast and then thought better of it. Low-cost index funds and ETFs are tough to beat. Even the financial masters of the universe admit it (privately, of course). India’s central bank is worried that it may be pushing crypto assets into the shadows. Its crypto crackdown caused a shift into peer-to-peer and other types of trading that are harder to monitor. The future of finance elsewhere The SEC is looking to make it easier for ordinary US investors to buy stakes in private companies. The agency wants small-timers (paywall) to get a crack at promising startups that delay public listings for longer. When it comes to bitcoin investing, fear has taken over from greed. For now, The Economist thinks (paywall) crypto is little more than a casino. UBS is selling its robo-investing platform. The Swiss bank decided there was little potential for the service in the near future. Stripe and Visa are among investors in African payment startup Paystack. But despite optimism in electronic services, Nigeria’s unbanked population has grown. Deutsche Bank’s CEO says fragmented regulation is preventing mergers (paywall) among Europe’s banks. Some in the industry argue consolidation (paywall) is needed for the continent’s banks to compete with their US peers. Previously, in Future of Finance Friday Aug. 24: Financial firms are increasingly giving away their services for free Aug. 10: Tesla and Spotify say public markets have major flaws. Do they have a point? Aug. 3: The most influential financial revolutionary is an 89-year-old with no interest in crypto Sign up for Quartz Private Key, the smart, busy

2 months ago

Alumni College Donations in Crypto Have Their Own Problems

Colleges and Universities around the world have experienced an increase in the amount of alumni donations being made in cryptocurrency. Most, if not all, donations appear to be made by alumni wanting to share their good fortune in their digital currency investments. Last year was a fantastic year for crypto, as investors either seasoned or totally new to the concept of digital currencies and Bitcoin, made their fortunes very quickly. It appears that many of these educational institutions were reluctant to take these, not so hard-earned, donations and some needed convincing. Nicolas Cary, the co-founder of wallet creation website Blockchain, says his donation of 14.5 Bitcoin to his old alma mater, the University of Puget Sound in Washington State, was hard fought: “I had to do a little bit of convincing for them to accept it. They wanted to dig in about how it works and what the process would be. We had a lot of conversations.’’ The problem appears to be that many colleges in the US simply don’t have a process for receiving such donations. This is particularly baffling as the cryptocurrency industry is young in both its own existence and the average age of its adherents, which in turn increases the likelihood of the alumni making donations using alternatives to the dollar. Even Ivy League colleges such as Yale and Harvard who have recently announced crypto investment funds claim it becomes much more challenging in terms of creating a process for alumni donations. Harvard as yet hasn’t received a crypto donation, although Yale would like to do but hasn’t yet established a method of implementation. Harvard University, the Massachusetts Institute of Technology (MIT), Stanford University, Dartmouth College, and the University of North Carolina (UNC), have all made investments from their endowments into at least one crypto fund. Some of the reasons for the reticence up to this point can be put down to media hype; being associated with some of the bad press that occasionally sticks to crypto and other factors such as some of these currencies’ past volatility. Add to this, dealing with the IRS, and the donations can seem less attractive than those made in hard cash. However, with the recent crypto fund adoptions by some of America’s most respected educational institutions, this is likely to change. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: Pixabay The post Alumni College Donations in Crypto Have Their Own Problems appeared first on BitcoinNews.com.

2 months ago

Barclays Stop Their Crypto Trading Project

Barclays, a British multinational investment bank, recently halted an internal cryptocurrency trading project. While it’s uncertain why Barclays stopped the project, according to the Financial News London’s article published on Oct. 15, the bearish cryptocurrency market may have been a large factor that influenced the investment bank’s decision. Financial Institutions Shy Away From Cryptocurrencies Two people familiar with the situation reported to the Financial News that while the British investment bank was eager to enter the cryptocurrency sector earlier this year, the bank decided to change its direction and saw it best to halt its progress on the project. The bank originally assembled a senior team to explore the potential of cryptocurrencies earlier this year. They were assessing the possibility of incorporating the trading of cryptocurrencies to their existing service. Chris Tyrer, Barclays’ previous head of energy trading, was initially leading the cryptocurrency project in 2018. He, however, left the company in September after Barclays decided to stop the project. The Financial News mentioned that Tyrer previously worked with Marvin Barth, head of FX and EM macro strategy at Barclays, on the cryptocurrency project. Other key members in the venture included Lee Braine, CTO of the investment bank, and Matthieu Jobbe Duval, a consultant from Barclays. While it’s unclear why Barclays is halting its cryptocurrency project, it’s not the only large financial institution shelving their cryptocurrency plans. According to Business Insider, Goldman Sachs has also stopped its cryptocurrency trading project. Just eight months ago, when Bitcoin’s price hit its all-time high at almost $20,000, as seen on CoinMarketCap, Goldman Sachs was preparing to open up a cryptocurrency trading desk and have it up and running by June. As the bearish cryptocurrency market continued throughout 2018, people familiar with the matter reported that the financial institution no longer expressed as much interest. They believe that the uncertain regulatory landscape is the primary reason that financial institutions are cautious of the cryptocurrency industry. “[E]xecutives have concluded that many steps still need to be taken, most of them outside its control, before a regulated bank would be allowed to trade cryptocurrencies,” said Dakin Campbell and Frank Chaparro from Business Insider. However, as the publication reports, the bank could choose to revive its plans later. Goldman Sachs representative Michael DuVally spoke to Barron’s, a financial and investment news site, and mentioned that while the financial institution was keen on exploring digital assets in response to increasing client demand in 2017 and early 2018, they’ve unfortunately not reached a clear conclusion on digital assets and have not yet defined their scope. Educational Institutions Invest in Cryptocurrency Funds According to The Information, while financial institutions are shying away from cryptocurrencies, the asset class is growing greater acceptance and popularity from some of the top universities such as Harvard University, Stanford University, Dartmouth College, Massachusetts Institute of Technology, and the University of North Carolina. These universities have each invested in at least one cryptocurrency fund from their endowments. These university endowments invested tens of millions into cryptocurrency funds, which include physical cryptocurrency tokens and equity in certain cryptocurrency firms. The idea that these universities are actively engaging in the cryptocurrency industry is a great validation for the sector and could help legitimize the growing asset class and push the cryptocurrency industry into a state of maturation. Bloomberg also reported recently that Ivy League school Yale University has also joined the educational institutions listed above as a cryptocurrency investor. Yale’s endowment recently helped a cryptocurrency fund, known as Paradigm, raise $400 million. Institutional Investors Remain Deterred by the Cryptocurrency Market Although there are a number of educational institutions investing in cryptocurrency funds, many institutional investors, unfortunately, remain deterred by the bearish cryptocurrency market, high levels of market manipulation, and unclear regulation. These factors are strong barriers to the legitimization of the new asset class. While some believe that the cryptocurrency industry may enter the mainstream market, it may be a long way to go. According to the NEPC consulting firm, in Feb. 2018, there is still 96 percent of endowments and foundations that do not invest in cryptocurrencies. Barclays Stop Their Crypto Trading Project was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2 months ago

More Universities Forced to Grapple with Logistics of Accepting Crypto Donations

As more and more graduates of prestigious universities go on to make a name for themselves in the rapidly expanding cryptocurrency space, the institutions where they learned their skills are increasingly on the receiving end of donations made using digital assets. However, many universities are completely clueless as to what to do with the funds gifted to them. Are Cryptocurrency Donations More Trouble Than Their Worth? The list of higher education institutions receiving donations in digital assets such as bitcoin continues to grow each year. However, not all universities are keen on accepting unfamiliar assets. Whereas you or I would be eternally grateful for such a gift, most endowment managers have no idea how to handle cryptocurrencies. Firstly, there is the matter of setting up a suitable wallet to accept digital assets. Then there is the issue of selling them as quickly as possible. The volatility associated with crypto markets is something many endowment managers seek to avoid. Rather than grapple with these relatively basic facets of digital currency use, donations are frequently rejected. According to a report in Bloomberg, in the US the University of Puget Sound, the University of California at Berkeley, the Massachusetts Institute of Technology, and Cornell University have all successfully taken undisclosed numbers of donations in cryptocurrency. Meanwhile, the highly prestigious Harvard University is yet to accept gifted digital cash. Nor have fellow ivy leaguers Yale - although a spokesperson for the institution did state that it had tested the process but it was an idea not being actively pursued. One of the earliest known examples of a higher education institution accepting a cryptocurrency donation was that of blockchain wallet service provider co-founder Nicolas Cary. He gifted Puget Sound 14.5 BTC in 2014. After a change of their endowments policy and several lengthy conversations about the logistics of accepting such an unconventional donation, the university relented and took the bitcoin. They, of course, quickly liquidated it quickly and missed out on around $95,000 at today’s prices. That said, it seems curious that Yale has turned down donations made via digital assets. Its highly successful endowment manager, David Swensen , has been linked with investments in two funds focused on cryptocurrencies and blockchain startups. It is not at all uncommon for universities to reject non-conventional donations. Bloomberg state that all manner of weird and wonderful gifts have been turned down over the years. These have included timeshares, paintings, and even areas of wetland. If the process of liquidating the asset is not quick and familiar, the endowments manager will simply deem it more trouble than it is worth. Evidently, some institutions feel that this is the case with bitcoin, ether, or any other digital coin they might receive. Image from Shutterstock The post More Universities Forced to Grapple with Logistics of Accepting Crypto Donations appeared first on NewsBTC.

2 months ago

***UPDATED TIMEZONES*** AMA Livestream with Ivy President A...

***UPDATED TIMEZONES*** AMA Livestream with Ivy President Ash Shilkin! Friday 10/19 at 5pm PDT | Saturday 10/20 at… https://t.co/ASGTrWc4gJ

2 months ago

Florida’s catastrophic damage from Hurricane Michael, as seen from above

Hurricane Michael is among the worst storms the US has ever experienced. The Category 4 hurricane brought winds of 145mph, hitting five states and killing at least seven people. Over 1 million households are without power, and much of the Florida Panhandle faces “unimaginable destruction,” according to the state’s governor Rick Scott. Video from NOAA’s GOES-16 satellite showed Hurricane Matthew as it made landfall. The following day, aerial photography revealed the destruction along the coastal town Mexico Beach, Florida. Mexico Beach resident Scott Boutwell told CNN, “everybody’s homes are gone... There’s nothing left here anymore.” Power outages have complicated officials’ efforts make sense of the destruction and assist residents. In an interview with NPR, the city manager of Panama City Beach, Mario Gisbert said, “my police chief cannot communicate with my sheriff right now. Cell lines are down, radio towers are down.” At the Tyndall Air Force Base near Panama City, the hurricane tossed a fighter jet on display and ripped hangars apart. In a letter, colonel Brian S. Laidlaw requested that Air Force personnel focus on staying safe: “We can rebuild our base, but we can’t rebuild any of you.” Satellite imagery provided by DigitalGlobe offered a glimpse of the tree-wrenching forces of the winds along Long Point Park highway and the Ivy Road Estates in Panama City. Sailboats and motorboats can be seen piled along the Panama City waterfront. The storm’s devastation was not evenly distributed, with some lower-income people unable to evacuate. This flyby image from NOAA shows a leveled mobile-home community (left) adjacent to a developed suburban cul-de-sac in Panama City (right). Across the lane Search and rescue efforts are underway in the Florida Panhandle, and the Federal Emergency Management Agency has dispatched 3,000 employees to the field. Utility crews across nine states as far as Michigan awaiting cleared roadways so they can begin restoring power and communications to the region. Officials expect a long recovery. “This is not stuff that you just put back together overnight,” FEMA head Brock Long said Thursday. “It’s unrealistic for people to think it’s going to happen in the next day or two.”

2 months ago

Yale University Enters Crypto Market Investing in Two Funds

It seems that institutions are starting to enter the cryptocurrency market. The recognized Yale University has reportedly invested in two important crypto funds. According to Bloomberg, the Ivy League school... Continue reading "Yale University Enters Crypto Market Investing in Two Funds" The post Yale University Enters Crypto Market Investing in Two Funds appeared first on UseTheBitcoin....

2 months ago

Ivy League Yale To Back A $400 Million Crypto Fund

The ever prestigious Yale University, the third oldest institution of it’s kind in the United States, home to the illusive Skull & Bones society and now, home to a new investment into a promising new crypto fund that goes by the name of Paradigm. We are seeing more and more universities and educational institutions start to peek into the blockchain world, with many establishments now setting up blockchain research centres and even teaching subjects on the matter, the worlds of higher education and blockchain are slowly seeing a merge, though as it stands, we are seeing little in the way of investment into the industry from these institutions, until now of course. Continue reading Ivy League Yale To Back A $400 Million Crypto Fund at Crypto Daily™....

2 months ago

Enveloped in secrecy, Yale invests in $400 million USD cryptocurrency fund

Reports have come in that Ivy League University Yale is investing into a new cryptocurrency fund started by Coinbase co-founder. The post Enveloped in secrecy, Yale invests in $400 million USD cryptocurrency fund appeared first on Coin Insider....

2 months ago

Yale Endowment Banks on Crypto

Ivy League endowment funds have long been pioneers of the investing community. Many endowments were early investors in private equity and hedge fund managers, helping to popularize these two now conventional asset classes. On Friday, Yale University continued this tradition when it announced that it’s investing in a crypto-focused fund. Yale currently has the second largest endowment for colleges and universities worldwide, behind only Harvard. Yale’s endowment currently sat slightly north of $27.2 billion at the...

2 months ago

Yale University Investing in $400 Million Cryptocurrency Fund

Cryptocurrency, Investing-Yale, one of the most prestigious Ivy League universities in the United States, is reportedly apart of the investment group that is helping to raise $400 million for a massive new cryptocurrency fund. According to a report by Bloomberg published on Friday with information supplied from an anonymous source familiar with the situation, the ...

2 months ago

Yale University Makes Cryptocurrency Investment Foray

Yale University is the latest institutional player in the cryptocurrency investment scene. Reports indicate that the Ivy League school has put up equity in a couple of investment funds targeted at the virtual currency market. Details of the Cryptocurrency Investments According to Bloomberg, Yale University, together with a group of other investors participated in a... The post Yale University Makes Cryptocurrency Investment Foray appeared first on Live Bitcoin News....

2 months ago

Yale University invests in cryptocurrency fund: An indicator for the beginning of institutional involvement?

On 5th October, Yale University, the high-end Ivy league school was reported to have made a huge investment in a cryptocurrency fund called Paradigm. The fund was started by Fred Eshram, the Co-founder of the biggest cryptocurrency exchange Coinbase and Matt Huang, the former partner at Sequoia Capital. The fund is reported to have raised ...

2 months ago

📣TECH AMA ANNOUNCEMENT📣 The Ivy Tech AMA with Mike Beck, Iv...

📣TECH AMA ANNOUNCEMENT📣 The Ivy Tech AMA with Mike Beck, Ivy CTO & Bob Murray is scheduled for Tomorrow! Make sure… https://t.co/kLXhaBBM8k

2 months ago

Ivy League endowments clean up—at a cost

They have some of the best minds in their universities watching their money. But in recent years, the endowments of schools in the Ivy League......

2 months ago

The secret behind the Ivy League’s high endowment returns

They have some of the best minds in their universities watching their money. But in recent years, the endowments of schools in the Ivy League......

2 months ago

ICX from a Korean perspective

First things first, I am not Korean. I live and work in Seoul since years and got to know and love the country, the mentality and especially the people. Since I see that more and more people decide to invest in ICX, often driven by the promising outlook of a Korean team behind it, I decided it might be interesting and hopefully helpful to provide my view from a “Korean” perspective. So first of all: if you bought ICX because of its Korean background and because you think it will drive its price - you were right. But I think there is a bit more to it than just the typical arguments mentioned here. As we all know, Koreans are crazy about the whole crypto world. On my way to work I take the subway and I don’t know how many people I see on their phone checking their portfolio and prices of cryptos. At my work no lunch break can go without at least two people talking about XRP, Litecoin, Ethereum but especially XRP. When XRP did its first major jump from around 0.26$ to 0.75$ one guy at work quit and is travelling the world right now. Koreans adopt everything new (especially when its technology) in a blink of an eye and their state is highly supportive when it comes to regulation, subsidies or such. People in this subreddit always make a point that once ICX will be traded on Korean exchanges (Coinone is part of the parent company of Icon, as you probably all know) the price will rise significantly. That’s certainly true. Just like an introduction to any new exchange, especially when its offering a pairing with Fiat, pushes any coin, it will do the same for ICX. By the way, Koreans do know about Binance and more people than you might suspect are already on it buying “their blockchain”, as my friends here call it. But that’s actually where it gets interesting: I think the main driver of any ICX price increase this year will be the patriotic (not say nationalistic) mindset of Korea. You consider yourself patriotic? How about this: In the wake of the Asian financial crisis in 1998 the Korean government asked their people to donate money or gold to pay off the IMF`s debt ($58bn). Millions of Koreans donated their family gold, weddings rings etc., even causing the gold price world wide to drop. Korea paid off their debt way ahead of schedule and recovered from this crisis exceptionally well compared to other Asian countries. That’s the kind of mindset here. So, when I hear my colleagues talk about “their blockchain” I know ICX is backed by not just a great team and an actual product - it is backed by a country in which nearly every third working person is invested in cryptos. And last but not least, their team is outright ridiculous. Being brought up in the West, you might have never heard about Seoul University, Korea University or KAIST. I heard people comparing it to Harvard or MIT. I hope they understand that they are not the “little brother of Harvard/MIT” they are equal substitutes. For a little more background: Koreans present the highest number of non-english-speaking students in the whole Ivy League. This country is completely over-educated (is that a word?). I work in a company providing supply-chain solution. Next to me sits Eunice. For her job she needs a profound understanding of Excel and a bit of logical thinking. She finished her Bachelor at Stanford which enabled her to do a PhD at Seoul university in Neuroscience. A PhD in goddamn Neuroscience... Her parents are still not happy tho haha. Anyways, hanging out with her friends from university makes me feel dumb and I have a doctoral degree as well... At least they tipped me about the pre-sale of ICX 😊 So when I saw what kind of guys are running this project, the insane funding they have and most importantly how much they all believe in it - I sold most of my stuff and got in. But what I am trying to say is this: If you are in it for the short term - you will make a decent profit. But you should be in it for the long-term. Forget about the mainnet-launch and about the upcoming listings on Korean exchanges. These guys actually have a product which is working, and they are backed by basically whole Korea (not the north tho). My friends are pretty much all-in on this and there are 56 million more interested. I hope this provided a little insight from a “Korean” perspective and was ultimately helpful to you😊 I am looking forward to hearing your feedback and make sure you visit Seoul one day, it is wonderful! ...

a year ago

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