China, Tim Draper, BTC, South Africa, Facebook, Consensus, Ukraine, Bitmain CEO, developers, Huawei wallets
- After declaring bans and restrictions on cryptocurrencies, China announces a regular monthly crypto analysis of over two dozen crypto assets, its Global Public Chain Assessment Index. Its Global Public Chain Assessment Index will include more than 2 dozen cryptocurrencies, including some of the most popular ones, such as BTC, Ethereum, Ripple, Bitcoin Cash, Cardano, NEO, IOTA and others. All currencies included must have their own independent chains, an open source code, an open block browser, a project home page with contacts and are required to have freely creatable public chain nodes.
- Tim Draper, an American venture capitalist, says that Bitcoin is the most secure place in the world to put money as it isn't subject to hyperinflation and no one has ever hacked the Bitcoin blockchain. He explained to the hosts of CNBC‘s “Closing Bell” that the banks are being attacked and hacked all the time and nobody seems to be able to do anything about it, but no one has ever hacked the Bitcoin blockchain. Also Bitcoin isn’t subject to hyperinflation, like what you see happening to currencies in countries such as Venezuela or Nigeria. These are a few of the reasons why Draper is convinced of the security and future of cryptocurrency.
- More than 47% of South Africans have plans to invest in cryptocurrencies, according to the MyBroadband 2018 Cryptocurrency Survey. A recent survey showed that a lot of South Africans who have never previously held crypto are going to buy them directly or invest in related enterprises such as cryptocurrency mining.
- Facebook is considering launching its own crypto, according to insiders. Official spokespeople, however, have yet to confirm this. The only thing that’s been officially declared is that they are possibly considering using blockchain. The social network has assembled a team to explore the best ways to leverage blockchain across Facebook.
- Analysts predict that the annual blockchain conference, Consensus 2018, which started on May 11, may result in price surging of Bitcoin and other altcoins. Analysts predict that, based on market movements in response to previous events, the prices of Bitcoin and other altcoins will see a surge in price. All previous conferences were followed by a bullish response from the cryptocurrency market and analysts expect this time won’t be any different.
- Ukraine could possibly legalize cryptocurrencies. The chairman of Ukraine’s National Securities and Stock Market Commission, Timur Khromaev, recognizes the impact crypto has on the world and says it has passed the point of no return. Therefore, he has stated he will put forward the possibility of legalization at the next meeting of Ukraine’s Financial Stability Board.
- Bitmain CEO, Jihan Wu, is planning to launch more facilities in US. It currently operates two mining farms, a 10 and 12-megawatt facility. The company's profit exceeded $2.3 billion in 2017, and they have plans to expand on a global scale.
- More than 5,000 developers in India have the necessary skill set to work on crypto and blockchain projects according to a recent study. Their skills must include data science, algorithms and cryptography to be qualified to work with such projects. 10,000 more software developers could be easily trained. This all is only a very small part of the total amount of Indian developers, with a total estimated amount at over 2 million
- Huawei offers digital Bitcoin wallets to its Chinese users. All new Huawei smartphones will have a digital bitcoin wallet application pre-installed. This application can also be downloaded in Huawei’s AppGallery app store. The vice president of Huawei’s services, Jaime Gonzalo, said in a statement that they expect to see massive growth in global cryptocurrency adoption in the near future.