HyperLinq : Weekly Digital Asset Digest 35

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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!


Indian University Students Create Blockchain-Based System for Online Voting : Ana Alexandre | CoinTelegraph

A group of students from an Indian university has created a blockchain-based voting system that enables voters to cast their ballots online. The voting system was developed by three students from Malla Reddy Engineering College for Women, local business and finance publication The Hindu Business Line reported on Oct. 21. The system was tested in gated communities — walled communities that consist of small residential streets and include shared amenities — and reportedly demonstrated a high level of security and resistance to tampering. Blockchain deployment in voting is gaining traction as various countries around the world have been experimenting with the technology, primarily aiming to bring more transparency and expand voter participation. The partnership aims to build a new system whereby citizens and members of the Digital Party can participate in various political decisions in a transparent and decentralized manner. However, Nir Kshetri, a professor of management at the University of North Carolina, questioned the readiness of blockchain technology for voting processes.

Zuckerberg: Facebook Would Quit Libra if the Association Launched Prematurely : Nikhilesh De, Marc Hochstein | CoinDesk

Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals. In a hearing of the House Financial Services Committee Wednesday, Zuckerberg fielded pointed questions on a variety of controversial issues around the social network, from election meddling to housing discrimination to deepfakes. In such a scenario, he went on, "I would hope that association will weigh our recommendation and what we say publicly that we think should happen. "If we don’t receive the clearances that we feel like we need to move forward and the association chooses to move forward without us then we will be in a position where we will not be a part of the association," said Zuckerberg. Despite Zuckerberg’s comments, separating Facebook from Libra may be a challenge for the nascent association. During the hearing, Rep. Ayanna Pressley said "Facebook is Libra," with Zuckerberg acting as the face of the company, and therefore, the new cryptocurrency.

Opera Becomes First Major Browser to Enable Direct Bitcoin Payments : Ana Alexandre | CoinTelegraph

Web browser Opera now allows making payments with Bitcoin directly inside the browser. The company announced the news in a press release shared with Cointelegraph on Oct. Additionally, the browser now enables adding a Bitcoin and TRON card into the built-in Crypto Wallet to keep track of the cryptocurrency owned. The features were previously released in the Beta version of the browser this summer, while the first cryptocurrency available for purchase through the browser was Ether in February. The company released the iOS version of its mobile web browser, Opera Touch, that supports Ethereum protocol and Ethereum Web3 apps, and a Web 3 explorer, which enables users to conduct transactions and interact with Web 3. Although Opera’s market share among other browsers accounts for only 3% as of September 2019, its latest development is another step forward to "an experimental integration of Web 3" and further adoption of cryptocurrencies. As Hamel previously claimed, the company aims to remove the friction involved in "using cryptocurrencies online and accessing Web 3 via special apps or extensions," in a bid to make the emerging technologies more mainstream.

TBCASoft, IBM and SoftBank Announce a Mobile Payment Blockchain : Adrian Zmudzinski | CoinTelegraph

Blockchain platform TBCASoft, technology behemoth IBM and telecommunications conglomerate SoftBank announced on Oct. 22 a collaboration to adopt a cross-carrier telecommunications blockchain payment solution. TBCASoft reportedly already created a cross-carrier blockchain with 18 participants. The first application that CBSG intends to launch is the Cross-Carrier Payment System, which aims to enable mobile service users to use their phones for payments with local merchants abroad. Softbank is the first carrier to adopt CCPS and aims to launch the payment system in Tokyo in 2020. IBM will reportedly leverage the experience gained by working with 80% of the world's telecommunications carriers to support scaling the ecosystem. TBCASoft also plans to use IBM’s blockchain platform to offer open technology and support multiple cloud environments.

‘Hell No’: Jack Dorsey Says Twitter Won’t Be Joining Libra Association : William Foxley | CoinDesk

Twitter will not be joining the Libra Association, according to CEO Jack Dorsey. Dorsey replied with a conclusive "Hell no" on the question of his firm’s potential membership of the Facebook-led crypto payments scheme at a New York City-based Twitter event. A noted bitcoin and lightning network advocate, Dorsey launched Square Crypto earlier this year for open development on the bitcoin network. In August, Square Crypto hired bitcoin developer Matt Corallo followed by three other dev hires in September from Facebook, Lightning Labs, and Google. "A lot of it seemed to be based in American tradition," Dorsey said. "I fear that if we base too much in this one concept, we take away the ability to experiment and expand." In his hearing, Zuckerberg notably said Facebook would be compelled to leave the Libra Association if the project went live before meeting regulatory requirements.

‘Source of Truth’ — Winklevoss Says Bitcoin Is More Than Digital Gold : Marie Huillet | CoinTelegraph

Cameron Winklevoss — one half of the eponymous family office Winklevoss Capital and co-founder of the Gemini crypto exchange — says Bitcoin’s possibilities go beyond digital gold. Cameron’s argument aims at going beyond the commonplace analogy of Bitcoin with gold, whose proponents compare the scarcity of the precious metal with Bitcoin’s finite supply to emphasize the cryptocurrency’s role as a digital store of value. In information systems, a Source of Truth is a term used to denote a trusted data source that gives a complete picture of the data object as a whole. This robust and trustless model for ensuring data integrity between a massive network of participants is, then — in Cameron’s view — the foundation for the asset’s unique promise. This August, roughly 1,000 fake gold kilogram bars were found in the vaults of major banks such as JPMorgan Chase — with many more thought likely to have been in circulation.

Bahamas to Release Fiat Digital Currency to Counter Cash Dependence : Ana Alexandre | CoinTelegraph

The Central Bank of the Bahamas is planning to release its own fiat digital currency in order to ensure economies’ resilience in the event of a natural disaster. CBOB governor John Rolle made the statement during his speech at the Counsellors Limited’s Exuma Business Outlook at Sandals Emerald Bay, local news publication the Nassau Guardian reported on Oct. According to Rolle, digital currency has the ability to free the country from dependency on cash — particularly useful after a natural disaster. The digital currency is being developed under the auspices of Project Sand Dollar and will be the Bahamas’ first digital fiat currency. Rolle noted that following the recent hurricane, the country’s banking sector saw significant damage to the physical structures of Abaco and Grand Bahamas, which led local banks to shut down operations. Indeed, weeks and even months after a natural disaster like a hurricane, power grids in affected areas remain inoperative. More than 11 months after Hurricane Maria, some places in Puerto Rico were still without electricity.

Bitcoin Jumps 12% as China’s Xi Embraces Blockchain, Boosting Crypto Sentiment : Brad Keoun | CoinDesk

Bitcoin prices shot up 12 percent Friday, climbing off a five-month low touched earlier this week, after Chinese President Xi Jinping said his countrymen should "seize the opportunity" afforded by blockchain technology. Although China’s central bank ordered mainland-based coin exchanges to close in 2017, Xi’s comments in support of enterprise blockchain, which share the distributed-ledger technology underpinning bitcoin, is good for sentiment around the crypto industry, said Mati Greenspan, senior market analyst at exchange eToro. "Bitcoin, as we know, is a central player in the blockchain industry." Bitcoin jumped 12 percent in the past 24 hours, reaching $8,392 as of 16:02 UTC . Earlier this week, the cryptocurrency touched $7,363, the lowest since May 18. Chinese officials are developing a digital version of the country’s own currency, but have forbidden other coins from being traded. eToro’s Greenspan said that the price jump appeared to be directly correlated with the Chinese leader’s comments. "It seems like this is what investors were reacting to," Greenspan said. "There’s only so much amount of good news that can be ignored."

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Rohan Raman

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