SEC Targets Telegram’s “Gram” Tokens Postponing Issuance

Collecting around 1.7 billion dollars in pre-issuance investment rounds, Telegram was preparing to officially launch their blockchain network dubbed TON, altogether with officially issuing Telegram tokens known as “grams”. Security and Exchange Commission reacted on Friday, on October 11th, 2019, with the idea to stop “illegal” issuance of Telegram tokens.

The network and Telegram tokens were supposed to go live according to the previous official statement, by October 31st, however, Telegram received a restraining order stopping the company to issue announced tokens, while the US regulatory body prohibited distribution and sales of Telegram tokens within the borders of the United States. The main reason behind the latest halt imposed by the SEC is based on the complaint that Telegram failed to register their sale and offer altogether, while the company already sold 1 billion tokens to US-based investors. The action taken against the issuance of Telegram tokens is said to be an emergency action, taken in order to prevent Telegram from illegally selling tokens. Telegram’s tokens, as the SEC claims, have not been properly registered while Telegram failed at protecting investors’ interests. Telegram by far sold nearly 3 billion tokens worldwide.

Blockchain Payments in Cars About to Be Tested by Ford, General Motors and BMW

Five automotive major companies are planning to start with testing blockchain-based payments in cars starting from November 2019. The tests should be conducted in the US within a partnership formed by BMW, Ford, General Motors, Honda and Renault. The object of pending tests for blockchain payments in vehicle will be car ID system, previously developed by Mobility Open Blockchain Initiative, where the system should allow car owners to make payments from their vehicles without the need of installing specialized hardware.

The main objective is to enable electric vehicles to automatically pay for fees at car stops when charging batteries, making the process of recharging and paying for recharging, fast and smooth, while safe and secure due to the fact that the system is based on blockchain. At the same time, Mercedes Benz is also testing blockchain-based transactions in vehicles, previously announcing the first completed car-based transaction in September 2019. Moreover, Mercedes tested machine-to-machine payments in trucks during August of the same year, showcasing interest in blockchain.

As automotive companies are also joining the list of sectors testing blockchain applications, it is becoming more obvious that blockchain technology is slowly moving towards mainstream solution for various advancements and improvements.

Is Investing in Bitcoin Equally Stable as Investing in Gold?

Within circles of cryptocurrency enthusiasts, Bitcoin is known as “digital gold”, issued more than 10 years ago, back in 2009, after another global economic crisis emerged from the shadows of declining markets. While cryptocurrency market is yet to mature and become more stable, investors are wondering if Bitcoin can take over the role of gold and pose as a more stable investment in oppose to investing in different assets. Some investors and traders imply that compared charts of Bitcoin and gold prices may show resemblance in trends between the two valuable assets, however, the fact is that Bitcoin’s movement in the market for the same period of time haven’t shown resemblance to gold charts since 2015. As a matter of fact, chart comparison between Bitcoin and gold shows that Bitcoin’s price movement has been drifting further apart from the price movement recorded for gold in the market. In the meanwhile, Bitcoin is being used to ease national currencies crisis occurring in Venezuela and other countries that are experiencing devaluation of national currency as well as reducing the level of inflation as a consequence.

Furthermore, as opposed to other cryptocurrencies in the market, Bitcoin is said to be closer to massive adoption and mainstream utilization, while holding a more stable value despite major price fluctuations that occurred in the period between the end of 2017 and October 2019. Although Bitcoin has a long way to go until reaching a form of stability, many investors see this digital asset as the future of safe haven and risk-off investing.

A Study Conducted by KPMG Confirms Gen Z and Millennials are Showing Increasing Interest in Crypto

A study conducted by KPMG (a multinational professional services network, and one of the Big Four accounting organizations) showed that there is an increasing interest in cryptocurrency and tokenization among Generation Z and a bit older generation Y, known as millennials. The study also confirmed, according to Arun Ghosh, the Blockchain Leader for KPMG, that over 60% of study participants believes that tokenization represents simplified and faster methods of payments, while the remaining participants and successfully define tokenization to match its initial objective and purpose. Moreover, more than 80% of the US citizens between ages from 18 to 24 are showing interest in the future of cryptocurrency market and crypto-assets. The encouraging results are those showing that over 50% of Americans aged 65 and above are also interested in the future of tokens, tokenization and digital assets.

According to KPMG and the end results collected from the initial study, Generation Z turned out to be the most interested in tokens and cryptocurrency, however, only one third of all questioned US-based study participants is completely familiar with the term and the idea of cryptocurrency. What seems to be the driving force behind such a positive outcome when it comes to the general interest in cryptocurrency is the fact that people are looking for fast payment solutions and easy-to-use transaction methods.

Craig Wright’s Presence Driving Blockchain Leaders Off the London Blockchain Conference

The CC forum on Blockchain, AI and Digital Innovation started off on October 14th, welcoming blockchain leaders and enthusiasts with many interesting topics and panels scheduled for the event. However, beyond interesting thematic on challenges and possible solutions for global centralized financial systems presented by Nouriel Roubini, Brock Pierce, Tone Vays, Craig Wright and Bobby Lee, the event held perhaps a scandalous panel dedicated to Craig Wright as Satoshi Nakamoto.

Craig Wright has been claiming to be the sole inventor of Bitcoin, already trying to prove the ownership of Bitcoin patent for years, that way earning a non-flattering nickname “Fake Satoshi”. The panel dedicated to Craig Wright as the inventor of Bitcoin revolve around the intended purpose behind writing the whitepaper for Bitcoin, which drove many blockchain leaders to decide not to attend the CC forum in London. BitMex representatives, as well as the founder and CEO of Litecoin, Charlie Lee, are some of the leaders in blockchain that received the news about Wright’s panel with open negativity. Charlie Lee openly criticized Tone Vays for his attendance, reminding the panelist that many of blockchain leaders pledged not to attend conferences that invite and host “Faketoshi”.

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Author: Team