✅ CRYPTOCURRENCY NEWS Latest | Bill Clinton, Tommy Lee, Novovatz, Petro Coin & Blockchain?

this week conflicting messages from two big guns in the industry mike Novogratz and Tom Lee the galaxy digital CEO has walked back his previous Bitcoin price prediction novigrad said I don't think it breaks 9000 this year he thinks the market decline is due to companies selling crypto just to fund the burn rate of the industry because they are not earning anywhere near the revenues from last year's Tom Lee on the other hand has reasons to be cheerful he has just published a fun stress survey that shows 54% of institutional players think that bitcoins price has already bottomed out and institutions appear to be more bullish on Bitcoin 57% of those surveys have said that bitcoins price is willing to reach anywhere from 15,000 to the moon by the end of 2019 Tom Lee himself appears to be sticking by his prediction of between 22 K and 25 K by the end of the year also this week Greg's it on the blockchain the WSJ angers Erik Voorhees that they also start their own crypto and the petro plagiarizes ladies and gentlemen here's your weekly ha dollars digest Bill Clinton thinks blockchain might be the future you should check it out seriously though speaking at a conference he weren't lawmakers not to regulate it out of existence it could do great things Clinton was the keynote speaker at the event interestingly Ben Bernanke was the top speaker at last year's event he was chair of the Federal Reserve during the 2008 financial crisis so it is safe to assume that Satoshi is not a fan what must he think of Bill Clinton evangelizing blockchain during the event Clinton spoke about many tech related issues including cyber security but most importantly for us he spoke about blockchain specifically regarding the disparity of access to new tech comparing it to the emergence of e-commerce solutions in the late 1990s the more you develop new technologies like blockchain AI technologies robotic technologies and one of the disparity of access is going to be felt Clinton went on to cover familiar ground regarding concerns over Kryptos role in terrorism and money laundering but went on to add too much regulation can be a problem you end up killing the goose that laid the golden egg clinton added that this whole blockchain deal has the potential it does only because it is applicable across national borders and income groups and finally Clinton noted the permutations and possibilities are staggeringly great but we could ruin it all by negative identity politics and economic and social policy there's not much to be learned from this pretty bland speech other than the fact that if you pay bill money he'll show up and say stuff besides no longer being in power the former president can't really effect change so the question now is how will Trump embrace blockchain let us know in the comments The Wall Street Journal this week released a damning report identifying around 90 million dollars in ill-gotten gains flowing through cryptic exchanges the investigation was conducted by the WSJ with the help of law enforcement and independent researchers oneexchange in particular appeared to be in the papers crosshairs shape shift which is accused of wandering nine million dollars headquartered in switzerland but run out of offices in denver the exchange has been linked to criminal activity since 2014 for example wanna cry hackers used it to convert Bitcoin into Manero a crypto that is very hard to trace here is how they did it shape-shift which has a policy of not identifying its customers made no changes following the attack the WSJ claims the main criticism of the report is that CEO Voorhees and shape-shift continue to flout the KYC and AML rules followed by other exchanges like coin desk for example after tracking a series of funds acquired from hacks investment fraud and blackmail 2500 in total the WSJ informed shape-shift of suspicious addresses that were subsequently banned by the exchange the chief legal officer in fact announced plans to de-risk the platform and felt the need to point out that while Voorhees vehemently anti-government he is not Pro money laundering following the report Voorhees published a blog post refuting many of the claims made by the WSJ the shape-shift CEO says that he worked with the journalist over the course of five months and believes that he was misled furthermore he points out that shape-shift does in fact have their own internal AML program voorhees sharpest criticism came when he accused the WSJ of simply not understanding cryptocurrency in blockchain what do you think is this yet another example of the mainstream media unfairly vilifying crypto or is voorhees clinging on to a cyberpunk fantasy that resists any kind of regulation no matter how sensible I've been a markets reporter for 10 years but I've never seen anything nearly as wild as the cryptocurrency frenzy we actually created the WSJ coin on a slightly lighter note but staying with The Wall Street Journal we spoke to Steve Russell illo about a mini doc he made about his efforts to start a wsj crypto why he did it what was surprising about the process and how can transform pitched W state coins to investors and base we just started off the pitch literally by saying we're with The Wall Street Journal we're gonna launch our own cryptocurrency which you buy and no other questions no other information just plain simple would you buy it and it was almost a resounding yes a hesitancy among companies like The Wall Street Journal as well as other established companies to really dive deep into this this industry and this market and I mean we're seeing slowly that big companies are really getting involved but still there's just with all the negative headlines out there there's a lot of money mongering there's a lot of market manipulation there are there's so many things that are happening that could make people skeptical I see the potential I see why there is such excitement I see that there really could be a use cases where blockchain really does recognize a lot of traditional industries out there you can actually pay readers to read your stories and incentivize them to read by then giving them tokens that they could use or whatever it may be for other types of membership perks or benefits so I think that's also a potentially interesting use case for crypto and the media Industries is not a easy time for newspapers newspapers are struggling the traditional business models are not working things need to change and I think looking being creative and looking at what blockchain or crypto Fizz offer is certainly a way that that media industries could try to figure out new revenue streams in order to enhance their business Venezuelan president Nicolas Maduro announced on national television the official launch of the petrol set for November 5th the website has already been launched and the wallet is available on Google Play but eagle-eyed Joseph Zhao in aetherium core developer notice several similarities to dashes white paper in the Petra white paper prompting accusations of plagiarism furthermore the Petra white paper makes the claim that each token is backed by oil which contradicts the reuters report that many oil fields in Venezuela are not operational and won't be for several years the word credit come from the Latin credo to believe no one will invest in a national crypto from a government they simply do not believe in despite the almost complete lack of confidence in the project not to mention the crippling sanctions Maduro continues claiming the Petra will be available on at least six major exchanges but failed to specify a single one Maduro has also stipulated that oil purchased for international and domestic flights must now be paid with petrol it is however not entirely backed by oil the new white paper left the public now it's back 50% by oil 20% by gold 20% by and 10% buy diamonds ordinary Venezuelans might have no faith in the petrol but crypto continues to be a means of survival whether it be mining or simply getting their life savings out of the country without the threat of violence from the authorities despite early promises of improved sovereignty and free puppies brexit is proving to be quite a complex bleak and futile process not least because of what it will mean for Ireland currently there are public of Ireland in Northern Ireland enjoy a so-called soft border which basically allows for fluid trade and travel between the two countries however leaving the EU most likely means leaving the customs union and that means a hard border which the Irish want to avoid well it's okay Philip Hammond Chancellor of the Exchequer has a plan and not just any plan but a vague plan speaking at a conference he said I don't claim to be an expert on it but the most obvious technology is blockchain but why is it the most obvious technology Philip did you think your fellow countryman would be distracted by a buzzword thousands of trucks pass through the border daily with many more thousands of products on board tracing and scanning them would prove challenging a distributed ledger might in fact be the answer but it would require some serious thinking from the Chancellor something it's safe to assume he hasn't done we spoke to crypto lawyer George Morris to break down why Hammond wants to put brexit on the blockchain asking if there is any hope for the technology to make the process smoother spoiler alert there is no hope she's not sure the distributed ledger technology really give the answer to the Irish border question I mean it it could it could form part of the solution but it's definitely not the answer in one of the things with a supply chain management system that people are talking about in in the blt world is that it doesn't necessarily you know actually do the logistics and what it does is record the the process of the supply chain and the movement of the goat it doesn't actually check the goods itself and so yeah whilst it could form part of the solution to be able to form an audit trail and I sort of you know Providence type record for good passing through the border it doesn't necessarily fix the problem because it can take our nation to agree check the goods at the border possible despite real use cases being thin on the ground watch-chain adoption can be worth seven billion dollars for tech companies like Amazon and Microsoft this according to Bank of America research is why they are confident about the seven billion dollar value but as the pace of adoption is currently quite slow analysts at the bank couldn't quite say when this would happen companies who already have cloud services stand to benefit the most it could be combined with blockchain tech to enhance supply chain operations for example according to the head analyst Amazon will benefit from incremental cloud services demand from blockchain implementation while improved supply chain tracking should make Amazon's retail operations more efficient Walmart is already somewhat ahead of the curve last week announcing it would require their leafy green suppliers to use blockchain to improve food traceability other companies mentioned in the research include Oracle IBM salesforce.com and VMware it is a very exciting space that it is also filled with uncertainty watching implementation is still not straightforward says cash ringin head analysts many blockchain use cases have been identified but full products and services have not yet been built out and are not used in production so who are you closer to inward price predictions are you more of a Tom Lee type or Mike Novogratz let us know in the comments and as always like subscribe and Hottel [Applause]

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