It’s Getting Harder to Pump Up Prices in Cryptocurrency Markets 📈 At least that appears to be the case when you look at Tether, one of the most-traded digital assets and also one that’s allegedly been used to manipulate the price of Bitcoin. Over half a billion dollars of Tether has been created in August alone, a move that in the past would have often coincided with a rally in Bitcoin, yet the larger cryptocurrency has fallen 15 percent.
Investors say bitcoin’s growing dominance is a sign that people are seeking refuge from so-called “altcoins” in bitcoin’s stronger name recognition. Yet one type of cryptocurrency, stablecoins, is showing no sign of slowing down. Funding for startups developing stablecoins has reached a fever pitch in 2018, with investors shelling out more than $500 million in capital to these projects, according to fintech research firm Autonomous NEXT
-via The Information
This story made the rounds in the space this week. It covers the need for stablecoins, tokenisation of assets, and briefly quotes the founders of Circle, Stably, and Coinfloor exchange.
Cryptocurrencies and Their Consistent Robbery! Are They Really “Indomitable”? What are Stablecoins? 🙇🏻 The whole Crypto evolution, surviving on Blockchain- a decentralized, incorruptible, and secure public ledger, highlights a lot of questions. The author tries to answer some of them, starting with crypto theft and ending with stablecoins and wallets. -via Yahoo! Finance
Reverse ICOs - Part 3: Stability, Partnerships, and Community 🤓 The token market is volatile, which is a problem for utility tokens because their prices need to be stable to have utility, otherwise, we’d use them purely to speculate. If a token performed similarly to a mature currency, it would be useful enough to exchange within this ecosystem. Enter: The Stablecoin.
Eiland Glover, CEO of Kowala, stated that “centralized authorities are fallible and may not always engender trust. Blockchain allows us to program monetary policy into decentralized, trustless networks with public, secure record-keeping functionality.” The intersection of blockchain and monetary policy, he said, can be seen in the concept of stablecoins, a crypto that is pegged to, say, gold or the dollar — and, Glover said, allow for money burning.
In regimes with runaway inflation, money ceases to function effectively as a form of deferred payment. A given amount of cash paid in return for work done today may not be worth anything like the same amount of it is not spent until tomorrow. It is no surprise to observe that in recent years in countries that have recent episodes of hyperinflation, citizens have increasingly turned to other currencies, including cryptocurrency, in order to store wealth.
With updates on Sweetcoin’s crowdsale, global expansion progress, roadmap news, wallet beta test, new whitepaper, partnerships and conference roadshow.
Under the new program, Sweetbridge will award a bounty from 170 to 8,500 Sweetcoin (current value $500 — $25,000), depending on the quality of the reported bug. Members and security researchers are encouraged to review the program details for eligibility considerations and terms and conditions.
Updates on MinexPay card pre-orders, protocol and wallet updates, and KYC/AML implementations.
A 20-minute interview on TrustToken’s roadmap, asset tokenization, stablecoins and the community.
-via Finance Magnates
The White Company and Fintech Ltd announce a partnership bringing USD, GBP and Euro fiat deposits and withdrawals via White Standard stable coins. Fintech’s Interstellar Decentralized Exchange (DEX) platform will be the first Stellar DEX-based exchange and wallet to provide this much needed service. The White Standard (WSD) is the first and only $USD stablecoin built on the Stellar protocol, 100% backed by deposits that are third party audited monthly.
-via PR News Wire
The White Company is literally making the market for luxury goods for buyers because even using crypto-currency it could take a buyer many weeks to buy a million-dollar car because crypto-currency holders can only cash-out $10,000 per week in crypto-currency, but they can transfer the whole million to White’s firm in a keystroke.
Stably Monthly Update — August 2018 📑 Starting this month, Stably will begin posting monthly updates for the community to keep track of their progress and what they’ve been up to on the road to public launch, scheduled for 4Q 2018. On this update: Ethereum’s mainnet launch and beta testing, as well as conference roadshow.
Currently, the average stablecoin user is a cryptocurrency investor looking to reduce exposure in a highly volatile market. Yet, one of the largest and most immediate needs being addressed by blockchain and stablecoins is financial inclusion. These technologies bring new financial opportunities to the world’s unbanked people.
In previous capital raising rounds, SendGold has raised $2.3 million from wholesale investors. Through equity crowdfunding, retail investors now have the opportunity to invest in this innovative fintech company for the first time.
Digix announced the Carbon Voting 2 exercise last Friday 17 Aug for DGD token holders to decide on the disbursement of USD 20MM from the DigixDAO Crowdsale funds to accelerate the growth of the Digix ecosystem. This post answers some of the most popular questions that arose since then.
ETHLend, a decentralized and secure financial marketplace built on Ethereum that enables lenders and borrowers to create peer-to-peer digital asset-backed loans using blockchain technology and smart contracts, today announced that Digix’s Gold Token (DGX) is listed and available for use as collateral on its platform, marking the onset of a new chapter in the use of real-world assets in decentralized lending.
Digix Gold (DGX) made it into the top 3 tokens to be listed on both Ethfinex and Bitfinex, alongside Banyan Network (BBN) and Autonio (NIO).
Digix is looking for users from their community who are eager to participate in DigixDAO and willing to provide them with feedback and guidance on what the community expects of the governance platform. Sign up here.
To bring the Havven community closer, there will be some major changes to their online channels as of Tuesday, August 28.
Havven is giving members of their community another opportunity to issue nUSD with their HAV. The aim is to receive useful user feedback to provide a thoroughly tested and seamless user experience during the open public issuance. If you would like to participate, you can apply here.
Through tokenvote’s decentralised voting and petition tool, all HAVeth holders have the opportunity to express their thoughts on the HAVeos token distribution plan. The current plan is for 50% of the 100m HAVeos tokens to be airdropped to HAVeth holders, and the other 50% to be sold privately.
Community members should read the five core principles of the Maker Governance philosophy carefully. As you reflect on whether these principles are in alignment with your own ideas about how Maker can maximize its potential impact on the world. The Maker Foundation Team will continue to iterate on the Foundation Proposal based on your feedback and ultimately hold a vote to accept the Proposal as the first collection of core documents of the Maker Governance Philosophy. A community call will take place on Wednesday (Aug 29th) at 16:00 UTC, where Maker Foundation team members will be available to answer questions, receive feedback on the Proposal, and explain points in deeper detail.More details here.
On September 17, MakerDAO will deploy the smart contract system to the Kovan Testnet, open source the code, release accompanying documentation, and make available the results from the formal verification of the Multi-Collateral Dai smart contracts. They invite the community to review and provide feedback on this critical step toward bringing Multi-Collateral Dai to market.
For the Stable.Report’s fifth interview, we had the pleasure of conversing with the fantastic Rune Christensen, Founder of MakerDAO. Many things are happening at Maker, including the collateral they accept, so we were really excited to learn more about the organization’s developments. I have to say, DAI was probably the first stablecoin I heard of, the work being done by the community at educating people and introducing them to stablecoins is worth learning from.