Happy Tuesday, ladies and gents! It's great to see you all back here again. I hope yesterday went well, and that the Monday blues didn't get to ya. 🤞 Today in history (2001), the People's Republic of China joined the World Trade Organization. That event signified China's deeper integration into the world economy. 🎉
In today's newsletter, we will be covering UNICEF investing in 6 blockchain startups, Facebook is looking to acquire new talent for its Blockchain divisionand digital banking platform Good Money raising $30 million in a Series A funding round.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you, and it's always nice hearing your thoughts. 💭 Happy reading! 📚
Slow day 🐌
In the past 24 hours, BTC traded within a relatively tighter range ($100) than previous days, staying within ~$3,470 and ~$3,570. It is currently trading at ~$3,480 for a ~2.1% loss. 📉 In the past month, BTC shorts have been constantly rising (even forming 2018 highs at one point), indicative of growing bearish sentiment. Additionally, BTC continues to trade below its 21-day EMA line for the 28th consecutive day! 😔
As for most cryptocurrencies, they are experiencing slight losses in the ~1-4% range. Total market capitalization currently stands at ~$110.5 billion, down ~$2 billion for the day. Daily volume of ~$13.2 billion is a little lower today than usual too. Overall, it was a relatively slower day. 🤔
For a good cause 🙏🏻
UNICEF is investing $100,000 in 6 blockchain startups as part of an effort to “solve global challenges using blockchain technology” that range from healthcare delivery transparency to managing finances and resources. 💰
The startups are based in developing economies, such as Argentina, Mexico, India, Tunisia and Bangladesh. The 6 recipients are Atix Labs and Onesmart (finances tracking platforms); Prescrypto (patient history platform); Statwig (vaccine supply chain platform); Utopixar (social collaboration tool); and W3 Engineers (offline networking system). 👀
UNICEF will assist these startups by providing assistance with the products and technology, whilst sharing their network of partners and experts. The startups are expected to deliver open-source prototypes over the next 12 months. 👍
Something's brewing 🍲
Facebook now has 5 job openings to recruit blockchain talent at its Menlo Park office. 😲 The career page ads state that the company seeks to help “billions of people with access to things they don’t have now”, and further cites “equitable financial services, new ways to save, or new ways to share information” as some potential use cases for the tech. 🤔
It remains unclear as to what Facebook intends to do through blockchain tech. However, its blockchain division is headed by the ex vice president of its Messenger app division David Marcus, and operates as a startup within the firm.
There are seeking a data scientist, a data engineer, 2 blockchain software engineers who are passionate about "building platforms that can scale through multiple orders of magnitude,” and a product marketing lead “to build and manage a new product marketing team focused in exploring the opportunity the blockchain will bring.” 🤓
Digital banking platform Good Money just raised $30 million in a Series A funding round let by Galaxy Digital to continue developing its app. Other participants include Breyer Capital, Blocktower Capital, Boost VC, Ken Howery, BlockChange Ventures, Cross Culture Capital, Troy Carter, Mitch Kapor, Peter Diamandis Blake Mycoskie and Justin Rosenstein and others. 💰
Good Money seeks to act as a bank through which every customer owns some amount of equity, while disbursing more incentives for those who install the app, refer friends and set up direct deposits. 🤯
Good Money's CEO, Gunnar Lovelace, seeks to take on traditional banking practices, which “is a primary driver” of a number of issues including institutional racism, environmental destruction and political corruption, by helping consumers "take their money out of a system that’s both destroying the planet and extracting wealth from the most vulnerable" and putting it into a system "focused solely on benefiting people and planet." 👍
Other news 📰
U.S. insurance group State Farm is trailing a blockchain tool to streamline insurance claims. 🤖
A Japanese lawmaker and representative of the third-largest opposition political party Nippon Ishin, Takeshi Fujimaki, has proposed 4 changes to the current taxation regime so as to ease the burden for cryptocurrency users and encourage adoption of cryptocurrencies in Japan. 👍
Chairman of the SEC, Jay Clayton, said in recent speech that "ICOs can be effective ways for entrepreneurs and others to raise capital” but securities rules have to be adhered to when applicable.
Poll of the Day
On a scale of 1-10, how likely do you think Facebook will eventually release its own cryptocurrency? 💭
And...what do you think the coin will be able to do? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "I would love to pay for my Starbucks with Bitcoin" 💭
The average vote was 7. . 🙌 👍 😁
"Why do you say so?"
You guys said:
Progress! My parents grew up during the Great Depression. We’ve come so far! Having usable currency for everyday products and services makes it valuable to me. - They must've seen so much, so they'd probably understand the value deflationary currencies can bring to third world countries. I do not need to carry cash around - A cashless society, such an interesting concept. We just may one day live to see it becoming a reality. 👌 Because is easy to transfer it without limitation - True. I would like to pay everything with crypto - It would make things so much more convenient. Imagine paying for a car or a house through crypto! 💸 FASTER SIMPLER PRIVATE. - YES YES YES. 😂 Too volatile - This is true for now. However, price discovery and liquidity is likely to improve over the next few years which will help with that. 👍 So,....rebellious. Advanced thinking. - Well, this is a revolution. 😉 When i am on Holiday in a strange country could it be fine To pay small things digital. - Then we wouldn't have to deal with those annoying foreign exchange fees. 🙄 I say this because I believe in the technology behind the cryptocurrency, I believe that the way to assert our freedoms is to have it really, not to depend on a third party that only causes more expenses and setbacks in my decisions. - Autonomy is where its at. 💪 Let’s realistic: the technology is not ready yet... In other words: « should I wait the 10minutes -30 confirmations- timelapse before to start drinking my beverage? »...??? - This is but temporary. Transaction times will improve. Bitcoin is a gold in crypto world. Shopping is not made with gold. - It may be seen more as a store of value for now, but this may change as transactions speeds improve. Its nice if you can use bitcoin more and more to pay for things - It would be so convenient. We wouldn't even have to carry wallets around! 😆
"What is the one thing you wished you could pay with cryptocurrency? Why?"
Gold! To buy some gold with crypto profits just boggles my mind. - Buying one store of value with another! 😂 House, because it has be my dream to own a house - I know people who actually did manage to buy a house with crypto. It's amazing what this space has done for some people. 🤯 EVERYTHING - Hell yeah! A fully crypto world would be awesome, but very far fetched. 💪
Daily expenses,because i will be safer than carrying cash - We could all go out without the need to bring our wallets. 👌 Rent - Would definitely be much more convenient than writing a cheque. For now on, my internet purchases (Amazon, E-Bay...). Once the technology is ready, for EVERYTHING... - This would be amazing! 🙌
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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