ConsenSys Team Debuts in China for the First Time Toward the Blockchain Hive Institute Share How to Build High Quality DApp

Author: Universal Block Chainingn
On November 29, the first phase of Wanxiang Blockchain Beehive successfully held!n
Although the weather is gloomy, the atmosphere is exceptionally warm. The venue at 19 / F, Hua Hong International Mansion, Hongkou District, Shanghai is very popular. It is the core developer team of ConsenSys, the world’s leading blockchain company, that made this premiere for Honeycomb Academy, the first of its kind in China. In addition, Wanxiang Block Chain AG Deputy General Manager, Wanxiang blockchain consulting business partners and the new chain accelerator person in charge Wanhai platform general manager Tao Quaming and Wan Yun chief architect and product director Li Chen also As a special guest of the event, he expressed his welcome to guests coming from afar and introduced Wanyun Innovation Platform and Open Plan.n

(Universal block chain deputy general manager Tao Quaming do opening speech)n
The ConsenSys Developer Tools Core Team on-site introduced Truffle, MetaMask, Infura, uPort, the leading developer and underlying services in Ethereum’s blockchain, and demonstrated live demonstrations of how these tools and services can help developers quickly build high Quality DApp. DApp, a blockchain application, is a combination of smart contracts and user interfaces. It combines smart contracts with traditional web / mobile applications and is a blockchain-specific technology stack.n
Among the four products featured this time, Truffle is the most popular development framework for Ethereum blockchain applications developers who can quickly create, compile, publish and test smart contract and blockchain applications on Truffle. MetaMask is a plug-in that allows users to interact with blockchain applications through a web browser. By integrating Web3 APIs with Javascript, blockchain applications can read the information directly, eliminating the need for local nodes to interact with DApps. At the event, G. Nicholas D’Andrea, Truffle’s core developer, and Kevin Serrano, the core developer of MetasMask, first introduced to the audience how to quickly develop and deploy blockchain applications using both tools and showcase an interesting area Blockchain Applications The Pet Store covers the entire process of creating, compiling, publishing, and testing blockchain applications.n
Infura co-founder Michael Wuehler analyzes the challenges developers face in supporting infrastructure and how to use Infura to address these challenges. Infura provides infrastructure services such as blockchain clusters and API endpoints worldwide and is committed to providing secure, stable, fault-tolerant and scalable blockchain interfaces for use by Ethereum, IPFS, and other emerging distributed platforms .n
Micheal Sena, co-founder of uPort, looks at the client side and points out that there are many difficulties in developing a user-friendly Ethereum client, a mobile distributed identity management platform that helps users autonomize information, enabling users It’s easier to use Ethereum. He showed off uPort’s core features and elaborated on how to integrate uPort into blockchain applications.n

(Wan Yun chief architect and product director introduced Li Wan Wan open platform)n
Finally, Li Yun, chief architect and product director of Wan Yun, started from Wan Yun’s blockchain ecosystem and business scenario and introduced Wan Wan as an open platform for neutral blockchain innovation and how to provide developers with more choices.n
In his speech, Li Chen introduced Wan Wan’s product positioning of providing technical services, building a community of block chains and accelerating the landing of blockchains, and will take this as the direction to provide coverage for the majority of blockchain developers. , Factom, Matrix BCOS, Qtum, interest chain and other current mainstream technology blockchain blockbuster services and high-speed Wan Wan full-node services. More Wan Wan IDE – the whole stack block chain development solutions. You can build a blockchain development environment in minutes to easily meet the enterprise-wide blockchain application development needs. Has now supported the development of Ethereum, will soon be adapted to the Alliance chain development. At the same time Wanyun open the API business, in December this year will be on the line “cloud market”, this product will help developers to increase project display and download channels. From the introduction, the audience also learned that the latest version of Wan Wan is online. The new version adds the third-party account login mode of uPort. Users can download and register the uPort client and log in to WanWen platform by scanning the QR code. This is also the first phase of the project Wanwan open platform – access third-party access. You can click below to “read the original”, Wan Wan official website, for more information.n
The combination of theory and real-world scene sharing allows the audience to follow the rhythm of the speaker and actively interact with their guests, gaining experience in DApp development and further understanding of these tools.n

(Hive Academy Activity Audience Actively Interact with Guests)n
Hive Institute is a offline activity brand built by Wanxiang Blockchain and continues to pay close attention to the cutting-edge technologies and hot topics in the relevant areas of the blockchain. Bring together the most influential opinion leaders, industry pioneers, entrepreneurial professionals, experts and scholars in the world and strive to record every moment of moment when the new technology changes the times we live in. Through small-scale face-to-face exchanges. From time to time, the Cellular Academy will launch a high-quality blockchain event where interested audiences can scan or press the QR code below to follow the WeChat universal blockchain for the latest information and content sharing.n

(Scan or long press attention universal block chain public number)n

How will blockchain change the government’s operation?

nRunaway Comment: The co-founder of Chronicled, a blockchain company, described the use of blockchain in government on a Q u0026 A site, pointing out that governments are one of the best areas to take advantage of blockchain. Because such technologies can eliminate intermediaries and increase transparency, government jobs can be made more efficient and credible. What needs to be clear is that although this technology does not help the government solve all the problems, it can at least bring many benefits to it from a technical perspective.n
nTranslation: Inan
What are the aspects of government that blockchain smart contracts can improve? Samantha Radocchia, co-founder of blockchain startup Chronicled, answers this question on Quora:n
Some governments are more transparent than others. No one who is concerned with international news will be surprised. But blockchain technology can change the way many governments operate by increasing efficiency and data transparency.n
If the government chooses to use the blockchain for contract management, identity management and much more, then it can create a publicly available record.n
So soon we will see the government beginning to show an unprecedented level of transparency.n
Of course, it may not be the case.n
To what extent is it transparent?n
To achieve a thorough data transparency will be an exciting new era of governance. But even if this can be achieved, it still takes a long time. The reason is that most governments may be somewhat concerned about this transparency. This may be for security reasons or it may be because they simply want to stay ahead of national competition. After all, “knowledge is power,” is not it?n
By the way, not only does the government have such concerns. I spent three years using blockchain and smart contracts to ensure the supply chain was real and reliable. I have found that some entities already know the existence of counterfeit goods, unethical supply chains and other issues, but they do not necessarily have to disclose the information. From their point of view, it makes sense to do so. If you have a serious problem, you might tell some helpful friends, not the entire community.n
On the road to transparencyn
Whatever your opinion of social media, you have to admit that it enables people to spread what is once considered personal information on the web. Most of us now have the luxury of handing out privacy to businesses and governments, and we almost never think about it when we click the “Agree” or “I Accept Terms” button.n
But the question is, is this bi-directional? Will governments and businesses be more transparent in return for the benefits offered by the blockchain?n
Because this technology can really bring a lot of benefits.n
Smart contracts and efficient governmentn
Governments around the world are well-suited to harness blockchain technology. One of the biggest public discontent with the government today is its inefficiency and waste of resources. And the blockchain can just eliminate inefficiencies and waste from the system.n
Many companies require a large number of government contracts, and the blockchain provides the government with a way to quickly and easily determine who fulfilled the contract on time and within budget.n
The blockchain also helps eliminate middlemen who add to the complexity of citizen services. If you want to sell your car, then you must transfer ownership to the Vehicle Administration. Buying land, starting a business and even paying taxes requires government intermediaries to verify the transaction. Blockchain does not require third-party verification. All parties have access to the transaction records. In this way, people can use the app on the phone to sell directly, without having to go to the vehicle authority to complete the transaction.n
Comply with laws and regulationsn
The government has also enacted laws and regulations, especially environmental laws and regulations. But government officials do not always ensure that these rules are observed. This is one aspect of how the blockchain can play a role.n
Just this June, seven Chinese citizens were jailed for falsifying data and altering the air quality monitoring system. The air quality in many parts of China is very poor. But they are cracking down on polluting air – counterfeiting surveillance data is now as serious as real air pollution.n
But what happens if the information is automatically stored in the blockchain immediately after it is collected and made available to everyone? Those who are in jail now do not even have the chance to forge data. The immutable transparent clues of data are precisely the tools needed to ensure compliance with regulations.n
But those who faked the data did what they did to stuff the veil into the sensor and prevent it from recording the correct amount of contaminants. So blockchain technology can not stop all those determined to commit wrongdoing, but it can stop the bulk of it.n
Is it enough for the government to adopt a more efficient and transparent governance style? Maybe. However, the situation in each country is different, so whoever will take the first step and when to take this step are worth looking forward to.n

South Korea to review encrypted currency exchange regulatory proposals

nRunaway Comment: In August, the Democratic Legislative Council of South Korea submitted a bill to amend the Electronic Finance Transaction Act, suggesting that related parties such as the cryptocurrency exchange must obtain a permit from the Korea Financial Services Commission. The Committee held a meeting and pointed out that the confidential currency involved illegal activities and announced the anti-money-laundering policy to prevent money laundering in encrypted currencies. And South Korea’s Prime Minister also expressed concerns about cryptocurrencies in the day’s meeting, saying that research should be conducted immediately.n
nTranslation: Annie_Xun
In response to the Bitcoin Regulation Act submitted by lawmaker Park Yong-jin, the Financial Services Commission (FSC) of Korea made a final adjustment to the regulatory proposals for crypto currency exchanges. At the same time, the prime minister is very worried about the growth and risk of cryptocurrencies such as Bitcoin and calls for immediate action.n
Requirements for crypto currency exchangen

Hankyoreh reports that the legislative bill “would treat the operations of cryptocurrencies (such as Bithumb, Coinone and Korbit) as unauthorized financing.”n
Cryptocurrencies exchange currently belongs to Act on Consumer Protection in Electronic Commerce Transactions. Media reports explained that this means “anyone who registers as an online provider can not operate a cryptocurrency business using the ecommerce site model.” “Although the FSC identified cryptocurrencies as not financial instruments but as unauthorized financing models, they admitted that they were traded globally.” The news indicates that the commission plans to have the exchange operate under certain terms. A FSC official explained in detail:n
n”Encrypting currency exchanges will need to comply with consumer protection standards such as independent storage of client assets and increased transparency, such as customer identification processes.” The relevant rights bodies have the authority to prosecute exchanges that violate these regulations. “n
nIn August, Democratic lawmaker Park Yong-jin filed a proposal to amend the Electronic Financial Transactions Act. He proposed that anyone involved in the digital money business, including cryptocurrencies exchange operators, must obtain FSC clearance.n
Anti-money laundering measuresn
Nspna reports that FSC also held a meeting at the National Federation of Banks to announce its anti-money laundering policy. Over 200 officials attended the meeting, including law enforcement agencies and representatives of the Korean Customs Service.n

FSC Vice Chair: Kim Yong-beomn
The meeting announced four anti-money laundering policies, including measures to prevent money laundering in Bitcoin. The report quoted Kim Yong-beom, vice chairman of FSC as saying: “We will build a binding system based on the risk of money laundering in new products to improve the security of financial transactions.”n
In a Yonhap News report, he explained, “We will devise a thorough response to prevent encrypted currencies such as bitcoin from becoming a new source of money laundering.”n
Prime Minister’s concernsn
Yonhap news agency reported on the day of the meeting, at the South Korean cabinet meeting held in the Seoul government building, Prime Minister Lee Naiya (Lee Nak-yeon) expressed concerns about cryptocurrencies.n
He referred to drug smuggling and pyramid selling involving cryptocurrencies. “It’s time to investigate this problem.”n
n”The virtual currency is speculative, the Bitcoin price has exceeded 11 million won and the transaction volume has surpassed Kosdaq. I feel that if I ignore it, there will be serious distortions and anomalies.”n
nLi Luoyuan further stressed that “fundamentally, the issues of Bitcoin and virtual currency need to be considered.” And mentioned that FSC is already discussing this topic with several cabinet departments. “There is a need for a thorough analysis of ICO and cryptocurrencies.”n

The New Zealand Financial Markets Authority sends investors an ICO warning

nRunaway Comment: Recently a new project SMG Cash in New Zealand ICO market, reported that the project site there is a false exaggerated information. Since the project was launched, the New Zealand Financial Markets Authority began to pay attention and warned investors not to participate in the project.n
nTranslation: Annie_Xun
The New Zealand Financial Markets Authority warned citizens not to invest in a new ICO project.n
It reported that Sell My Good, a 19-year-old online market operated by Ashutoush Sharma, launched an ICO with a funding target of NZ $ 220 million ($ 152 million).n
Local News NZ Herald reports that the ICO sells SMG Cash, a unique token, and has raised millions of New Zealand Dollars through crowdfunding.n
However, the Herald poll pointed out that some of the statements on the company’s website were untrue, exaggerating “10,000 times” of website traffic and number of users.n
The report said that while the survey found only about 400 items for sale on the site, Sharma insisted on its own statement.n
Since the launch of the ICO, the country’s Financial Markets Authority has started to think about “New Zealand investors not participating in the project.”n
Trying to visit Sell My Good’s ICO website on Nov. 28 did not succeed.n

New blockchain ETF application pending SEC approval

nBankruptcy: According to the SEC’s November 22 disclosure, Horizons Blockchain Index invests 80% of its total assets in the common stock of companies included in the fund. The index fund will also invest in US and overseas equity securities as well as companies involved in “adopting and integrating” blockchain technology.n
nTranslation: Clovern
Horizons ETFs Management has submitted a new blockchain exchange-traded fund (ETF) application to the Securities and Exchange Commission (SEC).n
The SEC filing revealed on November 22 that the Horizons Blockchain Index invests 80% of its total assets in the common stock of companies included in the fund. The index fund will also invest in US and overseas equity securities as well as companies involved in “adopting and integrating” blockchain technology.n
The prospectus stated:n
n”The ETF is an index fund that uses a ‘passively managed’ investment strategy to provide investment results before fees and expenses appear, often in line with the performance of the Horizons blockchain index.”n
nThe paper notes that Horizons ETFs Management uses a “replication strategy” to track the index, which means that the company will base its weight on the common stock of companies in the index. In addition, they also want to profit from these pooled blockchain companies.n
Earlier this month, two other ETF specialized companies also submitted the listing application for the relevant blockchain investment vehicles to the U.S. Securities and Exchange Commission.n
Reality Shares Advisors disclosed in the application documents that it plans to work with NASDAQ to provide securities services to different blockchain companies. The Amplify Trust ETF also applied to the SEC for approval of its investment in blockchain start-ups.n

BlockShow Asia 2017: GBX Offers New Platform for Encrypted Currency Investment

nRunaway Comment: In the past two days, 2017 BlockShow Asia is being held in Singapore in full swing, bringing together blockchain experts from all over the world. In addition to celebrity speeches, there are also some agencies that take this opportunity to announce their new projects. The Gibraltar Blockchain Exchange (GBX) has announced at the event that it is ready to create a cryptocurrency trading platform designed to allow investors to participate safely in this emerging market and plan to establish the world’s first healthy digital asset that operates under state regulation market.n
nTranslation: Inan
Cointelegraph has been following up on the ongoing “BlockShow Asia” conference where blockchain experts from around the world have posted a few announcements. One of the more noticeable announcements comes from Gibraltar, one of the smallest independent areas in the world.n
The Gibraltar Stock Exchange (GSX) now also operates the GBX, a new way for entitlement investors to participate in the rapidly growing cryptocurrency market. Gibraltar, already approved by European regulators, is preparing to create a platform on cryptocurrencies.n
The system provides traditional investors with a more comfortable trading platform – a stock trading model, where GBX will actively review new products to ensure the safety of its investors. The company said the plan will create a safe haven for investors who are too nervous to discover unknown waters in the crypto market:n
n”GBX will focus on the solid foundation of the new legislation in Gibraltar and strive to be the world’s first digitally regulated digital asset market and ecosystem in the world to move toward a new era of clear and stable blockchain technology world membership in the financial technology community Will find a secure and supportive and dynamic, encrypted community. “n
nWith the continued “BlockShow Asia” meeting, there will undoubtedly be more news. So please pay more attention to learn more about the latest situation.n

CoinDesk Releases Q3 2017 Blockchain Industry Report

nRunaway Comment: CoinDesk’s latest quarterly survey of the blockchain industry has been released, with in-depth analysis of all that has transpired in cryptocurrencies and blockchain in the third quarter of 2017 to help people become more aware of this new area Progress and forecast its future development trend. This kind of report has always been more comprehensive and objective and can provide important information and guidance to crypto-currency lovers.n
nTranslation: Inan
CoinDesk announced the release of its latest depth report on blockchain technology and cryptocurrency on November 28th.n
This quarterly report, which began in 2014, has just released the third quarter 2017 blockchain report, the latest in the series, with more than 100 charts showing the industry in yet another historic quarter What progress has occurred.n
The report is divided into sections to help readers understand comprehensive industry data and includes a special sensory survey that provides insight into evolving market trends through more than 50 questions.n
The report focuses on the following aspects:n
1. The market overcame the regulatory challengesn
Bitcoin prices hit a record high in the third quarter and the macro economy is at the core of this push.n
Our Q3 survey found that respondents considered the most important attribute of Bitcoin in its ability to hedge its currency uncertainty today. It is noteworthy that they might say that this belief posed unique challenges in the quarter as several implementing agencies announced the regulatory actions.n
For example, in the third quarter, Chinese regulators called for exchanges to stop trading. BTCC, one of China’s largest exchanges, followed the rules on the last day of the third quarter and stopped trading.n
However, the growth of global trade volume can not be stopped. As the picture shows, the impact of China’s regulatory actions is hardly shown here.n
As a result, demand for Bitcoin continued to grow this quarter. For the first time, its price broke through the $ 5,000 mark, and for macroeconomic reasons the price is much higher in some countries.n
Bitcoin is playing a role as a “currency of crisis” in countries where central bank policies are particularly strict. For example, the volume of cryptocurrencies in Zimbabwe and Venezuela both hit record highs. Earlier, India in the fourth quarter of 2016 after the abolishment of large amount of old coins also appeared in this situation.n

Bifurcation bitcoinn
Technically, bitcoin went through several tests in the third quarter, including soft and hard forks (two different types of software upgrades).n
Soft bifurcation allows people to adopt a code called Segregated Witness which in turn enables bitcoin to earn several new crypto innovations and also creates the first block in the bitcoin blockchain that exceeds 1MB in size The block.n
However, this change has also drawn some criticism. Bifurcation has led to the emergence of bitcoin cash, an alternative blockchain that is isolated from bitcoin code and has a block size of 8MB.n
However, it remains to be seen whether such a new blockchain will compete with bitcoin for a long time.n

3. ICO and VC investment growthn
Of course, progress in the third quarter of the industry may be much simpler than macroeconomics, crisis money, or technical and philosophical debate. To sum up, maybe just people are making money.n
ICO and VC investment hit a new high this quarter. ICO raised a total of 1.24 billion US dollars for people, on behalf of the project Filecoin and Tezos; Coinbase through VC financing raised 100 million US dollars, its valuation reached 1.6 billion US dollars. This round of investment was announced in August and made Coinbase the first “Unicorn” company in the blockchain industry.n
Through the ICO, coin-wide diversification throughout 2017 triggered the growth of well-known institutional buyers. Pioneer analysts are now struggling to understand the valuation and write a book on the new key price indicators.n
This area has aroused great repercussions in the quarter, in terms of technical analysis, use cases, teams, white papers, code reviews and other factors, with more than 100 new cryptocurrencies hedging funds.n

4 public chain other key indicatorsn
In addition, steady growth has also emerged in other indicator areas.n
Trading volumes, block sizes, hash rates, new addresses and transactions also hit new highs, with Ethereum setting a new record in blockchain deals within 24 hours, for example.n
In short, the global heat of cryptocurrency appears to be spreading, and the last piece of data we’ve got through the sensory survey is a perfect illustration of the craze.n
Data show that people are buying more cryptocurrencies and viewing their prices more often.n

WSJ: Nasdaq plans to launch bitcoin futures in 2018

nBankruptcy commentary: Since CME announced the launch of bitcoin futures contracts – and this goal seems to be achieved soon, many Wall Street agencies are also eager to join this new wave of trade. Today, Nasdaq also announced plans to launch its own bitcoin futures in the first half of 2018. If these plans really can fulfill their expectations, then next year’s cryptocurrency market seems to be more lively.n
nTranslation: Inan
It is reported that Nasdaq is considering joining the Wall Street bitcoin trading boom.n
According to the “Wall Street Journal” reported that the world’s second-largest market stock exchange Nasdaq plans to launch in the first half of 2018 bitcoin futures contracts.n
In the report wrote:n
nAccording to informed sources, Nasdaq’s Bitcoin contract will be unveiled at Nasdaq Futures or NFX, a Nasdaq-based market created in 2015 that now focuses primarily on energy deals. “n
nNasdaq will try to differentiate its products from CME, given that it is preparing to launch its bitcoin futures products in two weeks.n
We can pay attention to this plan to understand its future trends.n

2017 Encrypted currency enters the international financial system

nRunaway Comment: The current bitcoin price exceeded the $ 10,000 high of 960 U.S. dollars earlier this year, far exceeding expectations. Of course, more importantly, Bitcoin and other cryptocurrencies have gradually entered the international financial system. In particular, the CME’s announcement of a plan to issue bitcoin futures has helped to lift the market and affected the attitudes of other large financial institutions toward bitcoin. Each country has a different attitude toward cryptocurrencies. However, in spite of the high price of coins, bitcoin was still used for some illegal activities and the relevant legislation was not finalized.n
nTranslation: Annie_Xun
This single bitcoin price hit $ 10,000 this week, once again reaching new highs, well above the beginning of the year. Bitcoin has exceeded expectations, but in 2017 it is not just price increases. Bitcoin and other cryptocurrencies have become recognized parts of the financial system, but only somewhat vague.n
Earlier this year, Bitcoin transaction price was $ 960, after which it rose steadily and surged in the first two months. There are many reasons, but the recent upturn is partly due to the CME Group’s announcement that it plans to list Bitcoin on the exchange by the end of the year. This recognized sign may reinforce bitcoin’s position in other large financial institutions, many of which are already handling a certain amount of bitcoin-related transactions. It is reported that even CEO Jamie Dimon said JPMorgan Chase, which will be expelled from Bitcoin transactions, is also considering offering CME futures services to its clients.n
But not everyone believes that Bitcoin is about to enter the futures market. Joe Saluzzi, head of Themis Trading, warned that the unregulated status of bitcoin is dangerous. “It made me think about the financial crisis again.” And Bitcoin is so volatile that it costs nothing to justify bitcoin. No one knows the future price of a single bitcoin, though Thomas Glucksmann at Gatecoin said:n
n”In my opinion, $ 10,000 is still cheap”n
nMoreover, bitcoin has suffered a catastrophic decline, including the long-term downturn after prices hit $ 1,000 in 2013. To explain how absurd Bitcoin fluctuates, Gizmodo writer Kashmir Hill, a Twitter-dealer, said buying a sushi in 2013 costs the equivalent of the current $ 99,000.n
However, bitcoin payments make sense in some scenarios, albeit sometimes less than pleasurable: extreme right groups are starting to use bitcoin when rejected by payment processors. The underlying uses of blockchain technology are complex and varied, not around cryptocurrencies, from the rapid processing of international currencies to the tracking of legalized cannabis.n
But people find that the use of cryptocurrencies has surpassed alternative currencies. Perhaps the most famous example of 2017 is the ICO, which sells digital tokens based on cryptocurrencies, such as ethernet, through ICO. The crowdfunding projects included in the ICO are both absurd and serious, with some absurd successes, and some with the support of Paris Hilton and Wu-Tang Clan band Ghostface Killah. And, unlike the other early currencies of Dogecoin, they caught the attention of regulators.n
Some countries have directly banned the ICO, and South Korea announced “severe penalties” for the related activities. But other countries try to determine how to apply the existing regulations. The SEC, the Securities and Exchange Commission, require some ICOs to fall under the securities laws and be separated from general crowdfunding. Japanese regulators also made clear that ICO is part of the current financial regulations. The SEC has even issued guidance on how celebrities can participate in sales.n
The overall legal status of cryptocurrencies is complex, but in 2017 some countries have made major policy decisions. Some are negative: The SEC rejected a well-known application for the Bitcoin Equity Fund. The signals given in many other countries are more vague. Russian President Vladimir Putin ordered regulators to set a full set of miners and traders regulations, even though officials said they would ban them directly. This year the Indian government set up a commission to study digital currency regulation, and the High Court recently ordered the commission to speed up its work.n
Some have been sued for encrypting money-related criminal activity, just like the Ponzi scheme of the past few years. The government also released bitcoin guidance. Some new decisions raise new questions: For example, the SEC does not say how it will punish decentralized networks that violate securities laws. Likewise, getting the attention of investors and regulators does not tell us whether bitcoin will eventually succeed or not, and whether cryptocurrencies play an important role in the lives of most people. But even though cryptocurrencies do not compete directly with traditional counterparties, the past year has shown that they have drawn the attention of regulators and investors.n

The founder of TechCrunch announced the establishment of a $ 100 million XRP hedge fund

nComment: A few days ago, TechCrunch founder Michael Arrington announced the establishment of a $ 100 million hedge fund and disclosed that it will allocate the share of purchase funds to investors in XRP’s original currency. According to Fortune magazine, at present, the fund has raised half of the funds, and the fund will mainly invest in cryptocurrencies and the first digital token issuance (ICO), but may also get a small stake in blockchain startups .n
nTranslation: Clovern
TechCrunch founder Michael Arrington announced the formation of a $ 100 million hedge fund to be priced in XRP, Ripple’s original currency.n
Arrington announced at a Consensus investment conference in New York that the fund would be called Arrington XRP Capital. It is noteworthy that investors will buy the fund shares and receive a share of the allocation for the original currency of the Reuters Consensus Ledger Account (RCL) and the encrypted currency XRP, fourth of the total market capitalization.n
In a blog post published at the same time, Arrington said:n
n”I was still a crypto a year ago and now I’ve changed my career path, with a full focus on cryptocurrency and related technologies. It’s not just the point I’m focused on in the short term. That means I plan to contribute all my remaining career to Cryptocurrency and I know going through huge ups and downs along the way, but we’re ready for protracted war. “n
nThe founder of CrunchFund wrote that he and other founding partners at Arrington XRP Capital opted to price the fund in cryptocurrencies instead of legal ones to facilitate the participation of cryptocurrencies holders and foreign investors in the fund. They chose XRP because of their “fast speed and secure billing infrastructure,” and they were also adopted by financial giants like American Express.n
Arrington said that this feature is more than just a gimmick and will be an integral part of the fund’s operations:n
n”We will also use XRP to pay our own fees and salaries and we want to be ‘homegrown’ and as much as possible become an active cryptocurrency user, not just an investor, at all stages of our fund operations as much as possible Make us a better investor. “n
nAccording to Fortune magazine, the fund aims to raise 100 million U.S. dollars and has now raised nearly half its funds. The fund will invest primarily in cryptocurrencies and first digital token issuance (ICO), but may also have small stakes in blockchain startups.n
Affected by this news, XRP trading volume increased rapidly for the first time since June, breaking the $ 0.3 mark. Currently, the XRP transaction price is $ 0.286, an increase of nearly 6 percentage points in 24 hours, prompting the cryptocurrency market to reach $ 11.1 billion.n