Hand in hand

Your daily newsletter for October 25, 2018
Banding together
“The only thing that makes sense is to strive for greater collective enlightenment.”
- Elon Musk
Happy Thursday, everyone! It is almost the end of the week, so be sure to finish strong. You got this! Today in history, specifically in 1951, England's Labour Party lose to the Conservatives in the general election. In the process, Winston Churchill became the prime minister. 😁

In today's newsletter, we will be covering Japanese Virtual Currency Exchange Association (JVCEA) receiving its "certified fund settlement business association" accreditation, the Financial Blockchain Shenzhen Consortium (FISCO) launching a coinless blockchain platform and Nasdaq winning a blockchain-related patent. 

Hope you enjoy today's newsletter, and don't forget to answer the polls down below too! Happy reading! 📚
A small hit
Slight loss today for the crypto space as we see total market capitalization decreasing from ~$211 billion to ~$209 billion. BTC also recorded a small loss and is down ~0.57% to ~$6,470. It fell through the 21-day EMA support line and is now trading below it. RSI dropped from ~49.5 to ~48, indicating some downward momentum, and MACD is indicating that we are likely to see a short term downswing in the coming days. 😔

A shared responsibility
Japan's finance regulator, The Financial Services Agency (FSA), has accredited and approved the Japanese Virtual Currency Exchange Association (JVCEA) as a "certified fund settlement business association." 🤝

This accreditation effectively makes the association a self-regulatory industry body that is allowed to set rules for the nations' exchanges and take action over any violations. 💪

The JVCEA is made up of 16 licensed Japanese crypto trading platforms. It has yet to announce any new rules at this point, but it had previously made several proposals such as mandatory regular audits on crypto exchanges and limiting the borrowing amounts of margin traders. 👍

Pushing boundaries together
The Financial Blockchain Shenzhen Consortium (FISCO) has launched a coinless blockchain platform designed to meet the regulatory and operational requirements of the financial industry, called FISCO BCOS. It was built by the FISCO Taskforce Team that includes Tencent Cloud, WeBank and Shenzhen Securities Communication. 🤯

The open-sourced FISCO BCOS combines the functionality of a permissionless blockchain with a coinless framework (Open Consortium Chain). It claims to both be able to handle more than 1,000 transactions per second with split second confirmation to meet the operational demands of a large financial institution, and to perform efficient concurrent computation and parallel expansion to add more servers to meet relevant business capacity requirements. 😄

The FISCOS BCOS is already being applied across a wide range of applications including copyrights, arbitration, recruiting and finance. 👍

Re-innovation
Nasdaq has won a patent outlining how blockchain can be used to securely release time-sensitive information whenever necessary, as part of a wire service. 🎉

According to the official patent document released by the U.S. Patent and Trademark Office, current digital distribution services share information at pre-set embargo times to their intended outlets. However, the existing distribution platforms that do this sometimes leave audit trail gaps or aren't audit-friendly. 👎

Nasdaq's patent talks about a blockchain platform that will utilize smart contracts that intended recipients can interact with at schedule times via the blockchain to access the relevant securely stored sensitive information. The platform will also incorporate a number of encryption and workflow features, while maintaining a log that becomes more difficult to change over time. 👀

Other news
  • South Korea's Financial Services Commission (FSC) has issued a warning note to the public that although cryptocurrency funds have a structure similar to mutual funds, they should not mistakenly believe that such funds are legal investments under the country's Capital Markets Act. ⛔
  • According to the graphic cards manufacturer, AMD, GPU revenue from crypto miners in Q3 was 'negligible'. This comes after a similar decline from Q1 to Q2 revenues. 💸
  • U.K.-based settlement infrastructure provider Setl has been granted a license from France's securities regulator, Autorité des Marchés Financiers, to operate a central securities depository system using blockchain technology. 🤝
Poll of the Day
On a scale of 1-10 (10 being the most enjoyable), how much do you enjoy working with others? 😀
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And...do you usually prefer working alone or as a team? Also, what are some activities you just cannot do alone? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being the most committed), how committed are you to your long term goals?"

The average vote was 7.3. Not convincing enough y'all! Come on! 🤣

"Are you better at planning for the short term or long term?"

66.7% voted "Long Term."
33.3% voted "Short Term."

"Why is this so?"

Those who voted "Long Term" said:
I don’t want to be old and broke...but at this rate - You got this! Have faith! 🙏🏻
Short term planning is inviting mess... - True, that is not a good idea. 😎

Those who voted "Short Term" said:
Because am spontaneous! - Spontaneous people are the most fun! 😄
It's easier for me to think little by little. In Catalonia we say: "de mica en mica s'omple la pica", something like, "little by little you are filling the pile" - What an interesting perspective! Thank you for that. There certainly is more than one way to skin a cat. 🙌

"What are some tips to stay committed to your long term goals?:

You guys said:
Patience & focus.. - You definitely need this to stick to your long term goals! 👍
Do a little for your goals every day stay focused, you know what’s right and what’s wrong, so just keep plugging away don’t try and tackle all at once, probably too overwhelming - True! Best to slowly chop away at it! 😁
Take a day off, take a deep breath and plan it. Then you need discipline and think that when you achieve your objective it will be wonderful - Agreed. 👌

Thank you all for reading! See you back here again tomorrow!💙💙💙
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