“The future belongs to those who believe in the beauty of their dreams.”
- Eleanor Roosevelt
Hello, CMC folks. Happy Tuesday! I hope your Monday didn't go too bad. 😄
Today in history (1930), Mahatma Gandhi began his 200 mile march to protest the British salt tax. It is also known as the "Dandi March" and the "Dandi Satyagraha". 👣
In today's newsletter, we will be covering a Barclays analyst claiming that Facebook’s stablecoin could potentially generate billions in revenue, the firm behind the Burj Khalifa planning an ICO and South Korean messaging giant Kakao raising $90 million in a private token sale.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
In the past 24 hours, total market capitalization dipped from ~$134.5 billion to ~$131.7 billion, with most coins seeing losses in the ~2-5% range.
BTC is currently trading at ~$3,880, down ~1.5% over yesterday, causing it to be pushed back down to test its 21-day EMA line on the daily chart. RSI level on the daily chart is currently at ~54.7, currently in neutral territory so we may see slight consolidation at these levels in the coming days. 👀
Billions and billions 💰
According to a Barclays analyst, Ross Sandler, Facebook’s stablecoin could potentially generate billions in revenue. 🤯 However, his analysis hinges on whether the Facebook Coin can reinvigorate Facebook’s micro-payment strategy for digital content distribution.
Sandler noted that while much remains unclear about Facebook’s crypto project, there is a precedent for virtual currency on the social media site: Facebook Credits. 🤔
Facebook has recently been on a hiring spree with its crypto departments, evidenced by its one hiring push and at least one startup acqui-hire.
Burj plans ✍️
Emaar Group, the firm behind the tallest building in the world - the nearly 3,000 foot tall Burj Khalifa, recently announced that it was planning to develop the “Emaar community token” for its customers and partners by the end of 2019, with the ultimate goal of launching an initial coin offering (ICO). 👍
Customers will be able to use the token at any of Emaar’s holdings, including malls, entertainment facilities, online shopping venues and other properties. Emaar seeks to target 1 billion internet users. 😲
The firm will partner with Lykke AG, a Switzerland-based crypto startup to build an Ethereum-based token designed to comply with the ERC-20 standard.
Tokenized future 🤖
Ground X, the blockchain subsidiary of South Korean messaging giant Kakao, has raised $90 million in a private token sale. Ground X CEO Jason Han said that IDG Capital, Cresendo Equity Partners and Translink Capital had also participated in the round. 💰
Ground X has also launched a test network (or testnet) for its proprietary blockchain network, dubbed Klaytn. It has already partnered with 26 companies that aim to run apps on Klaytn - including South Korean video game developer, Wemade, and video streaming platform, Watcha.
The subsidiary also said it will work with the Seoul Digital Foundation, an organization created by the Seoul Metropolitan Government, to develop blockchain projects that focuses on social and public services.
Mining with remote processing power rented from companies operating outfits in countries like Iceland, where the electricity is abundant and cost-efficient, and the ambient temperature is cold year-round. Another term for this is mining contract.
Other news 📰
IBM’s Hyperledger Fabric solution has scored a deal with US credit union consortium CU Ledger. 🤝
Blockchain exchange-traded fund (ETF) Invesco has launched on the London Stock Exchange. 💪
Deutsche Börse Group, the German-based owner of the Frankfurt Stock Exchange, has partnered with major telecoms and IT provider Swisscom and Switzerland-based fintech firm Sygnum to build a digital asset ecosystem. 👍
Crypto calendar 📅
31 Mar - U.S. SEC's initial decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
5 Apr - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
How much do you agree with this statement: "I consider myself to be a resourceful individual"
The average vote was a 7.3. Not too shabby!
"Why do you say so?"
I spend at least 8 hours a day, excluding Sun, doing research, reading and any other form of info I can find. - That is some dedication! 🧠 I have had to be resourceful all of my life. - Sounds like you had rather challenging life growing up. 💪 i have seen some difficult times.. and have been able to steer myself out with struggle.. so yes.. am in middle of some problem, when i get out of it i will say 10. wish me luck with it. - Good luck! I'm confident you're gonna pull through! 👍 I make it work with what I have - This is an essential skill many lack. 👌 I am no MacGyver (1980's version of course) but I do tend to get out of sticky situations in creative and resourceful ways fairly well. I was always taught that success was the ability to "always do the best you can with the resources you have" - True. Sounds to me you're like a chameleon. Highly adaptive. 🎭 I love researching - Keep up that insatiable appetite for knowledge! 🤓 I read a lot and study trends. - Never a bad idea to be well read. 🤓 Always open and growing! - The key to learning is to have an open heart and an open mind! 🧠💖 Life sucks and then you die... - Well, why not try and make the best of it? I believe that I can manage well almost every situation that's presented to me - That's great! Every situation is navigable in multiple ways - This is true. Often times, there are multiple answers for each problem. 😉
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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