Map it out

Your daily newsletter for July 5, 2019
Plan
"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”
– Pablo Picasso
First week of July... done and dusted! ☑️ The 2nd half of 2019 is gonna be an exciting one for the crypto space. I just feel it in ma bones! 😬

Today in history (1994), Amazon.com was founded in Bellevue, Washington by Jeff Bezos. A day after independence day... what a date! Happy birthday Amazon! 🎂

In today's newsletter, we will be covering Venezuela’s President ordering country’s leading bank to accept the Petro (PTR) at all its branchesFujitsu Laboratories developing a blockchain-based solution for evaluating user credentials, identity and trustworthiness in online transactions and Latin America’s largest investment bank moving $1 billion worth of security token offerings (STOs) onto the Tezos' (XTZ) blockchain

Today, we will also be covering Stellar (XLM) in our weekly deep dive! And in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! Plus we have 2 special announcements, so be sure to check them out below!

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! 📚

 Consolidation 🤜🤛
Over the last 24 hours, total market capitalization gradually dropped slightly from ~$335 billion to ~$320.7 billion, with most coins seeing losses in the ~2-5% range. Notable mover of the day include Dogecoin (DOGE), currently up ~32.2%! (likely due to its Binance listing).

BTC is currently trading at ~$11,220, down ~4.4% over yesterday. On the daily chart, it continues to be trading above its 21-day EMA line, and RSI level is at ~56 (indicative of moderate bullish momentum). BTC seems to be consolidating a little at these levels, which is a good thing as the recent run up was a little fast. 👍

Forced 😣
In a recent tweet by Venezuela’s Finance Ministry, Venezuela’s President Nicolas Maduro has ordered the country’s leading bank, Banco de Venezuela, to accept the nation’s cryptocurrency, the Petro (PTR) at all of its branches. 😣

Maduro gave “the express order to open Petro desks in all the branches of the Bank of Venezuela”, during the 10th anniversary event of the nationalization of the bank. 

Just last month, Maduro announced that 924 million bolivars (~$92.5 million) were allocated to the Digital Bank of Youth and Students to open one million Petro wallet accounts for the Venezuelan youths. 😲

Reputation and credibility 👍
Japanese tech firm Fujitsu Laboratories has developed a blockchain-based solution for evaluating user credentials, identity and trustworthiness in online transactions.

The solution considers blockchain-stored user ratings in the form of a  “trustworthiness score” assigned to every user, stemming from users' rating of one another whenever a transaction is made. Users will also be able to see their counter-party's trust score before agreeing to a transaction. 💯 The technology will then evaluate these data and perform analyses on users' relationships with one another.

According to Fujitsu, this solution has certain advantages over other Decentralized Identification (DID) solutions, in that its graph-based approach to understand users’ relationships can prevent bad acting third parties from falsifying records. Their solution is also able to weed out collusion by looking at the graph of a users’ transaction relations. 😲

Fujitsu plans to integrate this new solution into its blockchain-based Fujitsu Intelligent Data Service Virtuora DX Data Distribution and Utilization Service within the 2019 fiscal year.

Using the better system ⚡
According to a recent official announcement, Latin America’s largest investment bank, BTG Pactual, plans to shift $1 billion worth of security token offerings (STOs), onto the Tezos' (XTZ) blockchain. 😲 This new initiative stems from a collaboration between BTG Pactual and Dubai-based asset manager Dalma Capital. 

Dalma Capital also plans to tokenize a number of traditional assets using the Tezos blockchain and smart contracts platform. It will use the Tezos blockchain for digitizing assets across multiple industries (real estate, equity, lending, global sports clubs). BTG Pactual intends to boost its expertise in tokenization based on Ethereum (ETH) blockchain. 👍

According to BTG's Partner responsible for the STO project, Andre Portilho, BTG's Partner will continue to use the Ethereum protocol but it also sees Tezos as a “global player with a robust blockchain for asset tokenization.” 💪

Special announcement 📢 CoinMarketCap webinar: "Characterizing Cryptocurrency with Fundamental Crypto Asset Score (FCAS)"
On 12 July, 1030am Eastern Time (UTC-4), we will be conducting our third webinar with Flipside Crypto's CEO and Head of Data Science, Dave Balter and Eric Stone. 😄

Tune in to better understand what the Fundamental Crypto Asset Score (FCAS) is all about! 🤓 But first, don't forget to sign up here!

Special announcement 📢 - CoinMarketCap block explorer guide
As many of you are aware, CoinMarketCap launched our very own block explorers for Bitcoin (BTC) and Ethereum (ETH) not too long ago. 

We understand that many of you are still newbies to the space. And so, upon popular request, we have created a useful guide on how to properly navigate them! Check it out here! 🧭

Blockchain term of the day 🤓 - Consensus mechanism
Crypto deep dive: Stellar
  • Cryptocurrency: XLM
  • Market Capitalization Rank: 12th (~$1.9 billion)
  • Consensus: Stellar Consensus Protocol - does not require all nodes to be in agreement to reach a consensus.
What is it about ⚙️
  • Stellar was founded by Jed McCaleb and Joyce Kim in 2014, and is a fork off of Ripple (XRP). Jed was actually the founder of Ripple (XRP)! The had a different set of ideologies that were fundamentally different from the rest of the XRP team, and thus left to start XLM based on those ideals.
  • The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. It seeks to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. 
  • Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. 
Why people love it 😘
  • XLM has a built-in, fixed, nominal inflation routine mechanism that increases at 1% per year. This predictability is can be preferred to some.
  • The XLM network can facilitate multi-currency exchanges and store orders to create an order book. Essentially, XLM has a decentralized exchange functionality to match buyers with sellers across multiple trading pairs.
  • Fast transaction speeds (~5 tps) with low fees. The fees are currently approximately ~$0.000002 per transaction, which is distributed weekly as part of the inflation pay outs.
  • Partnerships with recognizable brands like IBM, Deloitte, Stripe, ICICI Bank, TransferTo and Tempo.
Why people doubt it 🤔
  • The Stellar Development Foundation owns a majority share of the tokens (~80%). About half of those tokens are set to be distributed in the coming years, but this centralized structure forces investors to place trust on the foundation that the distribution will actually take place.
  • Centralized nature may prevent capital flows from retail investors.
  • As of now, only ~20% of XLM tokens have been distributed, meaning that by the time the remaining ~80% do get distributed, the relative price of XLM has to 5x just to keep its current price. Essentially, XLM's demand has to grow accordingly by many fold just to maintain the current price.

Other news 📰
  • Canadian crypto trading platform Coinsquare has bought an 8-figure controlling stake in fintech software producer, Just Cash. 💰
  • According to trial lawyer Stephen Palley, self-proclaimed Bitcoin (BTC) creator Craig Wright provided fabricated court documents to prove a trust deed with his plaintiffs. The submitted documents supposedly contain multiple chronological discrepancies. 😂
  • The 2nd largest South Korean financial group by assets, Shinhan Bank, is reportedly increasing its efforts to quash anonymous crypto transactions in the country. It will be increasing the number of staff scrutinizing accounts related to crypto exchanges, continue developing potential fraud monitoring systems, and spot suspicious activity using artificial intelligence systems. 👮
Crypto calendar 📅

16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
TBA      - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline

Catch the CoinMarketCap team at these community events! 🤝

8-11 Jul      - RISE Conference 2019 (Hong Kong)
10-11 Jul    - Barcelona Trading Conference (Barcelona, Spain)

Poll of the Day
How much do you agree with this statement: "I wish that a blockchain solution could be developed for my company's current internal systems." 💭 
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Why or why not? What are your plans for the weekend? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "I do not want Libra allowed in my home country.""

The average vote was a 5.5. 32.4% of y'all voted a '10'.

"Why or why not?"

because of the owner! - 🤖

Unsecured platform - Not-as-secure* platform. 😂

i very much want Libra to be allowed in my country.. it will bring about adoption & awareness. Also hopefully govt will bring clarity on regulation.. - Interesting. I wonder what country that is? 🤔 Would you want Facebook to be aware of your spending habits though?

As much as we need Libra in terms of crypto "savviness" , if F.B cannot protect their users' information, how can they guarantee that Libra will be safe for all to use? The only benefit I see is that it will make more people aware of Bitcoin and make them realise that it is still Boss! - Yeah. Once people delve deeper into the subject, they will realize BTC is no-doubt superior. 😬

I don't have any problem with the Libra coin. I mean if I buy a lamb of Amazon and later on I see a advertisement of a lamb I just scroll down. If it is safe, why not. - Well for starters, it ain't as secure. 

bring it on this a fight that has to happen hopefully facebook is ready for it!!!! - I doubt it'll be able to stop the BTC revolution.

Its Facebook. Need I say more? - You need not. Hahaha. 😂

I think Libra will bring a lot more people into the crypto market ..lets remember that only 18 months ago, many were burnt by the currencies and hope it adds value to the existing market . - It will. I think the introduction of Libra opened up many peoples minds to the possibility that crypto can actually be a viable payment option. 👀

There an argument that it will bring new wave of people into the crypto market. i don't see it, they will stick with libra. secondly and most importantly, i cant get behind it, yes, in africa there a need, but not libra. and not because i'm exploring ways for the unbanked masses, but because i see too many red flags on libra. - Yeah I agree with what you said, but I think that Libra indirectly shines a spotlight into the world of crypto currencies, which can lead to more people entering the space. 

Who needs libra when u have btc... - Word. 💪

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
See you again tomorrow!
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Use the weekend to re-calibrate and re-strategize your goals for the second half of 2019! 🧠
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