“A dream you dream alone is only a dream. A dream you dream together is reality"
- John Lennon
Good day CoinMarketCap family! This is our 300th newsletter edition! 🎉 I want to say THANK YOU for the unwavering support you've graciously shown me through each and every newsletter. It still boggles my mind how we've grown from just several subscribers when we first started about a year ago to the tens of thousands we have today. 🤯
I am so appreciative that I am on this journey with you lot. Getting to interact with you all through the daily polls, and reading your witty comments never fails to bring a smile to my face. You guys are quite a hilarious bunch. 😹
That being said, do find some time today to answer the daily poll to provide feedback on the newsletter, so I can improve on it to better cater to your needs. 👍 At the end of the day, this newsletter is about you people. Alright, time to jump into today's newsletter!
Today in history (1948), the Honda Motor Company was established. 🚗
In today's newsletter, we will be covering a global accounting standards body declaring that crypto is an intangible asset, Cisco partnering with SingularityNET on decentralized artificial intelligence and Germany's second largest exchange launching Bitcoin spot trading. Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit!
Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say. 💭 Happy reading! 📚
Over the last 24 hours, total market capitalization dipped for the second consecutive day from$263.2 billion to ~$255.4 billion, with most coins seeing losses in the ~2-6% range. 24-hour volume during that time registered ~$59.8 billion.
BTC is currently trading at ~$9,750, down ~2.3% over yesterday. On the daily chart, BTC failed to hold its 100-day EMA support line yesterday and broke below that. RSI is at ~38, indicative of moderate bearish momentum. 👀
An intangible asset✨
The International Financial Reporting Interpretations Committee (IFRIC), a global accounting standards body, concluded that cryptocurrency falls under the definition of an intangible asset.
This was not included in the committee's standard-setting agenda, which means that the recent disclosure only reflects the thinking of the body and not a definite rule. 🤔However, a standard set by the committee is usually followed, as IFRIC is employed in about 144 jurisdictions and a necessity for public companies in Singapore, South Korea and almost all of Europe.
Accounting treatment for cryptocurrency has long been in discussion since 2016.
Strength in intelligence🧠
SingularityNET, a decentralized artificial intelligence (AI) firm, has collaborated with tech giant Cisco to create applied artificial general intelligence (AGI) technologies.
Touted as "Strong AI", AGI stresses on a machine's capability to reason in erratic situations, decipher problems, organize and converse in natural language.
The company has previously applied its technology in some sectors, like partnering with the Singapore and Malaysia branch of Domino's Pizza to employ its blockchain-fuelled AI technology in its supply-chain procedures. 🍕
SingularityNET founder Dr. Ben Goertzel believes that in "10 years you're going to see AGIs with IQs higher than humans".
Germany's second biggest stock exchange, Boerse Stuttgart Digital Exchange (BSDEX), started a regulated trading platform for digital assets.
The exchange offers retail and institutional investors immediate access to digital assets whilst providing comparatively low-cost and flexible trading options. 💹
CEO Dr Dirk Sturz claimed that the "market in cryptocurrencies is worth billions, and more digital assets will emerge on the basis of blockchain", and stated that their aim was to "build up the leading European trading venue for those assets".
You already know you've got a ticket on us if you can make your way to Victoria Theatre in Singapore! For the guys and gals looking for a little more than free, we've got you covered.
Check out our full-admission ticket, which includes free-flowing beverages so you stay #hydrated all day, fancy nibbles in the AM and PM, gourmet lunch, and exclusive access to The Capital's VIP after-party!
Also, here are all our wonderful media partners who will be at The Capital to amplify and support the inaugural event. It's going to be amaaaazing!
Other news 📰
uPort, a ConsenSys-backed identity management protocol, has teamed up with Onfido and PwC, to produce blockchain-based identity management platform.🙏
According to an IBM executive, IBM is prepared to work together with Facebook to create blockchain technology. ⚙️
Jonathan Johnson has been appointed the new CEO of online retail giant Overstock😎.
How do you think the newsletter can be improved? What additional content would you like to see? Share with me in the polls!
What you said
"How much do you agree with this statement: "All forms of identification (e.g. driver's license, graduation certificate) should be put on the blockchain""
The average vote was 8.
"Why or why not?"
Driving licence is acceptable, but not certificate – Why not? If university degree certificates make sense, why doesn’t driving certificates? 🤔
Verification secured and tamper resistant. – Yup! 💪
I Forget Why??? – Mostly to prevent identity fraud and quicker verification processes. 😄
will be super easy to manage & use. also will eradicate chances of forgery. in coming time we will be seeing most of it adopting blockchain. - Exactly
Its a big brother dream come true. – Haha yeah. Don’t see how we can escape the inevitable though. Everything seems to be tending towards that. 😆
If it’s about privacy, need to regulate this properly under blockchain. I am not a techie guy, but think to avoid misuse of these datas should be first priority. – It would no doubt have to be regulated.
add passports to that and youve got a deal. if you have ever lost your passport on a trip you can understand. if all airlines and customs departments and governments had access you wouldnt need to even bring it. it would help national security because someone couldnt make their own fake one. only the bad guys would be unhappy and thats ok in my book!!!! – True. I understand your pain. Have lost my passport before and it was a reallllll pain. 😔
While in favor of most of it being online, the who has right of info. access, exclusion and usage would always be an issue. No doubt, there may also be a gazillion different formats (of smart contracts) to appease folks too. – Yeah, privacy concerns will always be there.
I think that is a really good idea. Speed up processing time. Reduce the costs. Have reliable access! – Yes!
anything has got to be better than the nonsense used now picture this picture that " shadow over passport, not clear enough not the right size" – Haha those are annoying af. 😂
Because it would much faster to check document authenticity – We might not even need to carry passports no longer. 😄
Everything belongs on the blockchain – A great deal of things* belong on the blockchain haha 😆
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙