TokenReporter: GS positive on Bitcoin

The Update

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Two token sales to watch 👁️

Cherr.io is an idea to use blockchain to improve transparency in charitable giving. By using the ledger in combination with smart contracts, they set out to make charitable giving more trustworthy. Trust is a key component to giving — when people lack trust, giving goes down, and people raise concerns about the inefficiencies in funds reaching the people they’re meant to help. Cherr.io wants to reduce organizational costs, increase trust, and increase giving over time. Read the whitepaper.

Alphacon bills themselves as a blockchain big data health care platform. There are a few key areas they’re focusing on trying to reveal new information through analysis. Gene analysis of natural characteristics reveals which genes are most likely to affect which diseases, and prevent genes that are causing genetic diseases from being replaced or operated in advance. Immunity Analysis Data focuses on intestinal bacteria that affect the metabolism of the body. The intestinal germs play an important role in the formation of a healthy immune system. Lastly, they want to make use of Lifelog data to store and utilize individual daily routines and behavioral patterns as data. This is the kind of information generated by a Fitbit or other wearable. Life logs enable new services and products to be developed, such as personal services that are customized to the environment. The whitepaper talks more about their plans.

The Good, the Bad, and the Ugly 😊😠👹

😊GOOD: 

Goldman Sachs CEO Speaks About Crypto Adoption

During an interview at the Economic Club of New York, Lloyd Blankfein, the CEO of Goldman Sachs, expressed a cautiously positive opinion about Bitcoin. He compared cryptocurrency’s potential with that of fiat currencies, pointing out the similarity between the rise of crypto and the evolution of fiat money.

A fiat currency derives its worth from government decree; a similar approach could be used to legitimize Bitcoin’s worth.

Blankfein asked, “If you go through that fiat currency where they say this is worth what it’s worth because I, the government, says it is, why couldn’t you have a consensus currency?”

His attitude clearly mirrors Goldman Sachs’ approach towards crypto. The bank-backed start-up Circle and Goldman Sachs launched a new cryptocurrency called the Circle USD Coin, which is pegged to the dollar. The USD Coin is the first cryptocurrency released by a major financial institution. 

The Freedom of the Press Foundation Starts Accepting Donations in Crypto

The Freedom of the Press Foundation (FPF) now officially accepts donations made with cryptocurrencies. Decentralized technology is a perfect tool to assist in the fight against censorship and abusive control while protecting journalists and whistleblowers.

The organization has already received a donation of 1,000 ETH from Mainframe. This decentralized communications network is resistant to censorship and surveillance. It shares with FPF a strong commitment to protecting freedom and privacy 


😠BAD: 

CBOE Global Markets President Predicts “Regulatory Reckoning” For ICOs

The President and COO of CBOE Global Markets predicts a two-fold “reckoning” for the ICO market. According to Chris Concannon, SEC will classify ICOs as unregistered securities, thus rendering investors’ holdings worthless. Consequently, a wave of class-action lawsuits will follow.

“First, the SEC will go after ICO market participants,” Concannon told Business Insider. “Then, class-action lawsuits against the teams behind ICO projects will surge.”

In Concannon’s opinion, ICO investors “should lay awake at night” in worry about the future regulatory reckoning.

On that note, SEC Chairman Jay Clayton cleared up some of the confusion surrounding ICO classification. Earlier this month he said, “We are not going to do any violence to the traditional definition of a security that has worked for a long time.”

Further, Clayton explained: "A token, a digital asset, where I give you my money and you go off and make a venture, and in return for giving you my money I say 'you can get a return' that is a security and we regulate that. We regulate the offering of that security and regulate the trading of that security."


👹
UGLY: 

Crypto Exchange Bithumb Hacked For Over $30 Million In Crypto

Bithumb, the world’s sixth largest cryptocurrency exchange, was hacked for over $30 million worth of cryptocurrencies. The exchange quickly took appropriate measures, suspending deposits and transferring its assets to cold wallets to prevent further losses. Bithumb didn’t provide details of the attack but promised to cover its users’ losses by compensating the victims.

The Korean Ministry has since launched a probe into the causes of the hack. In a separate incident earlier this month, hackers stole around $37 million from another South Korean crypto exchange called Coinrail.

News 🆕

New Ethics Guidelines: US Federal Employees Must Report Crypto

According to a new guidance issued on June 18 by the US Office of Government Ethics (OGE), all U.S. federal employees have to report their cryptocurrencies holdings. This regulation will affect about 2 million federal executive branch employees; it will include even security agencies like the Departments of Homeland Security, the Army, Justice, Veterans Affairs, and others.

Employees are obliged to report assets if they exceed $1,000 or if “the income produced by the virtual currency holding exceeded $200 during the reporting period.” Further, “[f]ilers are required to identify the name of the virtual currency and if held through an exchange or platform, the exchange or platform on which it is held.”

The OGE “does not consider virtual currency a ‘real’ currency or legal tender.” Instead, they are regarded as investment assets that may create a conflict of interest for employees who own them.

Chinese Government Partners With Tencent For China Blockchain Security Alliance

During the China Blockchain Security Summit held in Beijing, technology giant Tencent announced its partnership with the Chinese government to form the China Blockchain Security Alliance.

“We are willing to participate in blockchain’s industrial construction in the name of Tencent. We hope to contribute to blockchain’s security in China,” said Ma Bin, Tencent’s Vice President.

The Alliance aims to establish long-term mechanisms to prevent crime in the ecosystem for the “healthy development of the blockchain industry” in the country. Members of the Alliance include Tencent’s CTMA, the China Blockchain Application Research Center, and a number of public and private institutions.

China is developing a strong blockchain environment. Recently, President Xi Jinping praised blockchain technology during a speech at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing.

 Disclosure

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