HyperLinq : Weekly Digital Asset Digest 23

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Rohan Raman
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The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access relevant news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!


Exchange OKEx Launches Data Analytics Platform for Derivatives Trading : Max Boddy | CoinTelegraph

Malta-based digital asset exchange OKEx has launched a new comprehensive data insights platform that covers trading trends for derivatives. According to a press release shared with Cointelegraph, this platform will reportedly allow OKEx users to see real-time data on the exchange’s futures and perpetual swap markets for nine major tokens, including the top cryptocurrencies BTC, ETH, and XRP. As per the announcement, the goal of this platform — called Futures & Perpetual Swap Market Data — is to offer unbiased trading data for customers to better inform themselves and create trading strategies in the derivatives market. Andy Cheung, the head of operations at OKEx, commented that derivatives trading can be particularly tricky to pick up. Coinbase is reportedly using aggregated data to provide information on holder activity, typical hold time and popularity, and price correlation as trading signals.

Crypto Exchange Bitstamp Is Adding UK Pound to Funding Options : Daniel Kuhn | CoinDesk

The longest standing cryptocurrency exchange BitStamp will soon offer funding denominated in British pounds. The exchange, which is also Europe’s largest, is partnering with crypto brokerage, BCB Group, to allow users to deposit and withdraw funds in GBP. As a FCA-regulated payments institution, BCB was able to set up segregated client accounts for Bitstamp. This move follows Coinbase, Kraken, and the UK firm Coinfloor to offer GBP processing. Likewise, a Bitstamp representative told CoinDesk, "previously… UK customers had to make a deposit to our bank in EUR or USD rather than their native fiat currency." Though the announcement does not mean the company will be adding GBP trading pairs, Bitstamp CEO Nejc Kodrič sees this development as a way to expand its payment rails to its global customer base.

South Korea’s Shinhan Bank Developing a Blockchain Stock Lending System : Adrian Zmudzinski | CoinTelegraph

South Korea’s oldest bank, Shinhan Bank, is developing a Distributed Ledger Technology - enabled stock lending platform, local media Econonews reports on Aug 1. Per the report, Shinhan Financial Investment signed an agreement with financial services company Directional to develop a blockchain-based stock lending service on May 28. Personal stock lending is part of a broader development of innovative financial services that are currently being pursued by the company. At the end of May, Shinhan Bank, has also launched a blockchain-enabled lending platform to boost cost and time efficiencies in the lending process, reportedly enabling the public to apply for loans online and get their credits without face-to-face interaction. As Cointelegraph reported last month, Cadence, an American blockchain-based alternative investment provider, launched an investment platform for debt to bring more transparency and efficiency to the private debt asset class in order to help companies grow their businesses.

US Defense Department to Develop Blockchain Cybersecurity Shield : Daniel Kuhn | CoinDesk

The U.S. Department of Defense is looking to forge a blockchain cybersecurity shield. In a report published on July 12 titled Digital Modernization Strategy, the DoD outlined several ways to advance the nation’s digital defenses. In fact, DARPA, the research wing of the Department is already experimenting with the technology "to create a more efficient, robust, and secure platform", to secure messaging and process transactions, reports Decrypt. Specifically, blockchain may be deployed between units and headquarters as well as intelligence officers and the Pentagon. The DoD is also experimenting with the technology to facilitate the creation of an unhackable code to secure its databases. As part of the second Cryptographic Modernization program, in effect since 2000, the Department is replacing old hardware and cryptographic systems to meet the challenges of the improved computing power of the nation’s adversaries. The shift from "low value to high-value work" is also part of the DoDs’ Big Data Platform, which will handle petabytes of data involved in a number of cross-agency projects.

Facebook Libra Might Never Launch, Company Concedes in SEC Disclosure : Daniel Palmer | CoinDesk

Facebook has acknowledged what many have been saying – that regulatory issues may be an insurmountable barrier to the launch of its Libra global cryptocurrency project. In a frank disclosure in the firm’s latest quarterly report to the U.S. Securities and Exchange Commission, the firm said that the many barriers it will face regarding regulating a new technology with unclear rules in the U.S. and other nations of the world, mean "there can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all." As the firm says, the Libra project – which could potentially bring about crypto adoption to the billions of Facebook users – has caused something of an uproar in regulatory circles. Central banks, government ministers and watchdog chiefs have been lining up to demand more information on the project over fears it could pose a threat to central bank money and financial stability, and provide a global avenue for money laundering and fraud. The firm’s own doubts about the viability of its project are not all down to regulation, either. It cited the uncertainty of Libra taking off as a popular product as another potentially confounding factor, as well as it’s own lack of "significant prior experience with digital currency or blockchain technology."

Bitcoin.com Appoints New CEO as Roger Ver Leaves Position : Ana Alexandre | CoinTelegraph

Bitcoin.com has appointed Stefan Rust as the company’s new chief executive officer as Roger Ver leaves the post to become executive chairman, according to an announcement published on Aug 2.

"I’m hugely excited to take on the role of CEO working alongside Roger. Together we can now turbocharge the awesome team and great brand that is Bitcoin.com. We will play an integral part in making money work for everybody as society undergoes such an enormous and pivotal change. It’s going to be a wild ride, so don’t miss it!"

Prior to becoming Bitcoin.com’s CEO, Rust served as the company’s Global Head of Corporate and Business Development. Ver, however, will not be completely gone, but will serve as Bitcoin.com’s executive chairman. The announcement does not clarify what duties this role will entail. In May, news broke that Australian computer scientist Craig Wright served Ver with a libel suit after Ver called Wright "a fraud and a liar" in a YouTube video.

Samsung’s Galaxy S10 Adds Wallet App from Blockchain Phone Rival Pundi X : Daniel Palmer | CoinDesk

Rival manufacturers of blockchain smartphones, Samsung and Pundi X, appear to see the benefits of working together on crypto adoption. Announced by Pundi X in a blog post on Monday, the firms have entered a symbiotic relationship regarding their wallet tech, with Pundi X integrating with Samsung’s Blockchain Wallet and making its XWallet available to the Galaxy S10 phone’s blockchain app options. S10 users adding XWallet to the Samsung Blockchain Wallet will be able to move cryptocurrencies between the two apps. Pundi X suggests that users can use Samsung’s wallet to store cryptos securely, "like a savings account", and moving them to the XWallet "checking account" for use in payments. Samsung launched its S10 flagship phone back in March, revealing a bold blockchain play that saw it offer the crypto wallet alongside decentralized apps, merchant payments and other features such as blockchain signing.

Firearm Firm Wins Patent for Integrating Blockchain into ‘Black Box’ for Guns : William Foxley | CoinDesk

Blockchain has made its way to the firearm industry with a patent issuance to Justifire, a Georgia-based gun appliance manufacturer. Described as a ‘black box’ for your gun, the company’s signature device captures visual, audio, and other data for events requiring lethal force. Sensing sudden environmental changes, Justifire records dangerous encounters with the intention of protecting the right to self-defense in both the legal and public sphere. Through blockchain, the Justifire attachment will send data to a network of nodes for encryption and storage. The patent hints at possibly tokenizing the data to incentivize node participation. "urrently, the sy stem uses two mounted SD cards to store encrypted data. In case of self-defence, this data can be used to recreate the actions and events leading up to and after discharge of a firearm.

Leicester City FC Renews Partnership With Crypto Investment Platform : Liam Frost | CoinTelegraph

On Aug 2, English Premier League football club Leicester City FC announced the renewal of its partnership with multi-asset and cryptocurrency investment platform eToro. Per the press release, "a landmark sponsorship deal was signed by the Football Club and e-Toro at the start of the 2018/19 campaign, which saw the company become an Official Club Partner while the agreement was the Premier League’s first deal paid using Bitcoin." According to eToro’s UK managing director Iqbal V. Gandham, currently the platform is "working with six clubs for the second year in a row." On July 11, American professional football team the Miami Dolphins announced that Litecoin is now the team’s official cryptocurrency. As previously reported by Cointelegraph, Portuguese sports club SL Benfica partnered with cryptocurrency service Utrust to facilitate payments via cryptocurrency for tickets and merchandise in June.

VP of Engineering Tim Wagner Becomes Latest Exec to Leave Coinbase : Brady Dale, Zack Seward | CoinDesk

Coinbase executive Tim Wagner is leaving the crypto exchange after slightly over a year on the job. Other high-ranking engineering staffers are leaving too, CoinDesk has learned. Wagner, Coinbase’s vice president of engineering, will be departing in the next two weeks, a Coinbase spokesperson confirmed. The departure will leave a vacancy on the company’s leadership team. In May, Coinbase lost both CTO Srinivasan and COO Asiff Hirji. A recent report by The Information exposed tensions between the two men that caused turmoil in the company’s executive ranks. CoinDesk was also able to confirm three other notable departures at the company outside of the leadership team. Wagner’s departure follows that of Namrata Ganatra, Coinbase’s now-former senior director of engineering. Facebook alum and Coinbase’s former director of design, Connie Yang, left the company some months ago. She did not respond to a request for comment as of press time. Coinbase employs roughly 700 people across multiple offices. Nick Tomaino, an early Coinbase employee who now runs investment firm 1confirmation, says turnover at San Francisco’s crypto unicorn is no big deal.

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Rohan Raman

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