HyperLinq : Weekly Digital Asset Digest 29

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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!


North Korea to Hold Its Second Crypto Conference, Telegraphing Openness : Richard Meyer | CoinDesk

North Korea, which is believed to be using cryptocurrencies to finance weapons of mass destruction, will be holding its second cryptocurrency and blockchain conference next February. The event follows the first conference, in April 2019, which attracted 100 people. It was declared a success by the North Koreans, and a larger second conference was promised. As was the case in the first conference, restrictions appear to be liberalized. U.S. citizens are again welcome, and digital devices can be brought in for the conference. Internet access will be available. The conference will run from Feb. On the 26th, private business meetings may be arranged. North Korea has been accused of stealing about $2 billion worth of crypto currencies and using them to support its weapons development. South Korean and Japanese exchanges have been identified as targets, with phishing being utilized to hack into user accounts. More generally, the borderless nature of crypto has raised concerns that the North may use coins to get around international restrictions on trade and financial exchanges. In addition to possibly helping the North achieve crypto advances, the conference may also have propaganda value, both telegraphing a sense of openness while also sending a warning to the West.

LG Developing a Blockchain Phone in Response to Samsung : Korean Media : William Suberg | CoinTelegraph

South Korean electronics giant LG is working with blockchain developers to launch a rival to Samsung’s Klaytn blockchain smartphone, sources have said. Speaking to local daily news outlet Chosun on Sept. 8, an industry insider said LG had already held discussions with local decentralized application developers and had worked out a use case for its future product. The news comes a week after reports Korean messaging service Kakao Corp. was preparing to roll out blockchain capabilities on the Samsung’s forthcoming Galaxy Note 10 smartphone. Dubbed the Klaytn Phone, the device will come with a wallet and a free handout of KLAY, the token developed by Kakao off-shoot, GroundX. The latest in an increasing number of crypto-enabled smartphone offerings, Samsung’s move could trigger a domino effect, another official suggested to Chosun. "I think Samsung is trying to prepare differently in the blockchain field, just as LG responded with a dual screen when Samsung Galaxy came out with a foldable phone", they said. It remains unknown whether LG’s future offering will become internationally available. The Klaytn Phone, as CoinTelegraph noted, will only be accessible on the domestic South Korean market.

France Says It Will Block Facebook Libra in Europe : Daniel Palmer | CoinDesk

The French finance minister has said the nation plans to block Facebook’s Libra cryptocurrency in the EU over concerns that it poses a threat to the sovereignty of national currencies. "I want to be absolutely clear: In these conditions, we cannot authorize the development of Libra on European soil". Le Maire was speaking at the opening of an OECD conference on blockchain and cryptocurrencies in Paris, France. The Telegraph, meanwhile, adds that Le Maire said "It would be a global currency, held by a single player, which has more than two billion users around the world. The monetary sovereignty of states is under states is under threat". Le Maire reportedly expressed concerns that Libra may "substitute itself as a national currency" and potentially cause financial disruption. The Libra Association told CoinDesk

"The comments today from France’s economy and finance minister further underscore the importance of our ongoing work with regulatory bodies and leadership around the world. In the nearly three months since the intent to launch the Libra project was announced, we have become the world’s most scrutinized fintech effort. We welcome this scrutiny and have deliberately designed a long launch runway to have these conversations, educate stakeholders and incorporate their feedback in our design. The Libra Association and its members are committed to working with regulatory authorities to achieve a safe, transparent, and consumer-focused implementation of the Libra project. We recognize that blockchain is an emerging technology, and that policymakers must carefully consider how its applications fit into their financial system policies".

Winklevoss’ Gemini Crypto Exchange Launches Custody Service : Joeri Cant | CoinTelegraph

The New York-based cryptocurrency exchange Gemini, founded in 2014 by twin brothers Cameron and Tyler Winklevoss, has launched its own custody service, Gemini Custody. In a news release shared with Cointelegraph on Sept. Customers will also be able to trade their assets in custody on the Gemini exchange without waiting for them to be transferred from cold storage. Gemini Custody reportedly supports 18 cryptocurrencies including Bitcoin, Bitcoin Cash, Ether and Litecoin, as well as the following ERC-20 tokens: 0x , Augur , Basic Attention Token, Bread, Dai, Decentraland, Enjin, Flexacoin, Gemini dollar, Kyber Network, Loom Network, Maker and OmiseGo. Jeanine Hightower-Sellitto, managing director of operations at Gemini, explained that institutional investors have demonstrated a clear and growing demand for crypto, but that some struggle to find a solution that fully meets complex regulatory and security requirements.

Binance to List Its New Dollar-Backed BUSD Stablecoin Next Week : Christine Kim | CoinDesk

Binance’s new dollar-backed stablecoin, BUSD, created in partnership with the Paxos Trust Company, will be made available for trading on the cryptocurrency exchange the week of Sept. 16. It will be made available for trading starting next week a few trading pairs such as BTC and BNB. Earlier this month, the Paxos Trust Company, which already issues its own dollar-backed and gold-backed stablecoins, obtained additional regulatory approval from the New York Department of Financial Services to issue BUSD. Now Binance will list the asset on its exchange, which is the largest globally by trading volume, alongside a slew of other stablecoins already listed on the platform such as USDT, USDC and PAX. This is not the first stablecoin to be created by Binance and listed on the cryptocurrency exchange. In July, the Jersey arm of Binance enabled trading for its own British pound-backed stablecoin called Binance GBP.

Domino's Pizza Launches $100K Bitcoin Prize Competition in France : Helen Partz | CoinTelegraph

The French unit of Domino's Pizza launched an ordering competition with a prize of $110,000 in Bitcoin or cash. According to a company’s tweet on Sept. 6, Domino's Pizza France initiated the 100,000 euro give away on the occasion of its 30th anniversary.2, while purchase registration will be available till Oct. 6, according to the campaign’s website. As noted in the competition rules, the amount awarded in Bitcoin will have a value of 100,000 euro calculated according to the exchange rate on the day of purchase of Bitcoin by the organizer of the game if the winner picks BTC. Domino's Pizza is not new to blockchain and cryptocurrency space though. In May 2019, the Singapore and Malaysia division of Domino's Pizza teamed up with Dutch blockchain firm SingularityNET to deploy its blockchain-enabled artificial intelligence technology. Specifically, the implementation of SingularityNET’s technology intends to improve Domino’s supply chain processes and logistics in Malaysia and Singapore.

BlockFi Clients Can Now Start Earning Interest On Any Amount of Crypto : Joeri Cant | CoinTelegraph

Clients of BlockFi, a cryptocurrency lending company, will now be able to start earning interest on any amount of Bitcoin, Ether, and Gemini Dollar. On Sept. 13, the New York-based cryptocurrency lending company, BlockFi, announced that, starting today, its BlockFi Interest Account clients will not be required to meet a minimum deposit amount in order for them to earn interest on their Bitcoin, Ether, or GUSD balances. Zac Prince, founder and CEO at BlockFi stated that he is excited to see the growth in platform activity from crypto investors leveraging their wealth management products, while the BlockFi team added that the decision to waive the minimum deposit will make its BIA available to a wider crypto audience. CoinTelegraph recently reported that BlockFi had secured $18.3 million in a funding round led by Valar Ventures, one of three venture funds co-founded by PayPal co-founder Peter Thiel. BlockFi was the first company to receive institutional funding for crypto-based loans in United States dollars, in the form of a $50 million lending facility from Galaxy Digital.

Premier League’s Watford FC Puts Bitcoin Logo on Kit, Accepts BTC : Adrian Zmudzinski | CoinTelegraph

The Bitcoin symbol will now appear on the shirt sleeve of Watford Football club players, and the team will also accept the cryptocurrency for merchandise purchases. The football club announced in a post on its website published on Sept. The team will also accept the leading cryptocurrency as a payment for its merchandise. According to the official post, the logo’s addition to the uniform is part of a wider campaign aiming to «improve awareness around Bitcoin and educate the public on the benefits of using cryptocurrencies. The sponsorship will be crowdfunded and anyone can bid Bitcoin to access a public LED space shown live during matches and exclusive Watford FC merchandise. Le Brocque also added that he hopes the initiative "will create even more buzz around cryptocurrencies."

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Rohan Raman

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