What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review.
We will begin with a groundbreaking step for crypto-adoption in Hong Kong: the Hong Kong Financial Services Regulatory Authority (SFC) gave Asia's leading digital asset platform the green light to operate crypto-related businesses.
Bitcoin could be facing another bull run. The largest asset manager for digital assets, Grayscale Investments, published a study on Bitcoin, in which the current situation of the crypto currency is examined more closely.
Who likes to deal with death? In order that inheriting does not go out empty, one should do this nevertheless, means Marc Steiner. Who wants to ensure that his crypto assets are not lost after death, needs a watertight estate plan.
Wallstreet likes blockchain: This week, blockchain software company ConsenSys entered into a strategic deal with the largest bank in the USA, JPMorgan Chase. JP Morgan's blockchain project Quorum will be handed over to ConsenSys. Both companies are founding members of the Enterprise Ethereum Alliance, an association with the goal of making Ethereum the preferred platform for businesses.
In addition: Blockchains and Smart Contracts are technologies of multiple use. Nevertheless, legal disputes cannot be completely avoided even by using such innovative technologies. How could a suitable solution look like that meets the specifics of blockchains and smart contracts?
Selected articles in the weekly review:
Asia's leading digital asset platform received approval for an automated trading and market license for digital assets. This is a big step forward for crypto-adoption in Hong Kong.
https://cryptovalleyjournal.com/focus/legal-and-compliance/hong-kong-may-soon-have-a-fully-licensed-crypto-exchange/
Grayscale, the world's largest digital asset manager, looks at the current state of Bitcoin and sees a market structure similar to 2016, the year before the historic Bull Run.
We deal quite naturally with terms like hot and cold wallet, private and public key, etc. But if the heirs have nothing to do with Bitcoin, they can't do much with our supposed "USB sticks", URLs and passwords. Marc Steiner presents his new guidebook.
JP Morgan's blockchain project Quorum goes to the prominent Ethereum start-up Consensys. Both are founding members of the Enterprise Ethereum Alliance.
Blockchains and Smart Contracts should help to simplify business transactions and make them more efficient. For this purpose, the arbitration procedure should be adapted to the specifics of block chains and smart contracts.
