BITCOIN

Drivezy Self-Drive Car Rental First to Adopt Bitcoin Payments

BENGALURU, INDIA – Drivezy, a self-drive car rentals company in India, is raising funds to become the first business of its kind to accept bitcoin payments.

The company is planning on starting an Initial Coin Offering (ICO) to raise 17,625 ETH (about $5 million) and has claimed to have raised $10 million thus far.

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“Considering the rising cost of important assets and resources such as housing and transportation, I believe the future is a shared one. With the growing popularity of Bitcoin in India, we feel that this is the right time to open ourselves up to alternative means in the sharing economy. This ICO is a part of our vision to leverage the power of Blockchain to build an open, secure and transparent technology to globalize the Indian car sharing marketplace,” said Ashwarya Pratap Singh, CEO of Drivezy.

Drivezy has over 1300 vehicles in four cities in India.

Japan’s Financial Services Agency has approved 11 cryptocurrency exchange companies moving the country apart from its neighbors that are constriction their control on cryptocurrencies.
Japan’s Financial Services Agency has approved 11 cryptocurrency exchange companies moving the country apart from its neighbors that are constriction their control on cryptocurrencies.

The Government of India has remained largely silent on regulating cryptocurrencies or ICOs, so the company says that it will be launching its ICO in Japan.

This way, Drivezy will be fine if India comes out with harsh regulations against the technology in India.

Bitcoin acceptance may be coming to Uber soon as well.

The new CEO of the ridesharing company, Dara Khosrowshahi, ex-CEO of Expedia, has made numerous positive statements on cryptocurrencies and has even adopted the payment method into Expedia.

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ALTCOIN, BLOCKCHAIN, RIPPLE

Ripple CEO Brad Garlinghouse: Too Many Using Blockchain “As a Buzzword”

Ripple CEO Brad Garlinghouse, on the site Quora, said that “blockchain tourists” are using the term as a buzzword, rather than evolving real world use applications.

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“Blockchain is like the new big data or AI (artificial intelligence) — too many people are using it as a buzzword and not focused solving a real problem,”

“We like to call them blockchain tourists! There are many applications that are nothing more than science experiments.”

Blockchain technology is a distributed ledger on decentralized networks which are not overseen by any central authority. They maintain groupings of data across a vast network of computers via encrypted “blocks”.

“Some of the uses being implemented for blockchain could actually work better with a database,” said.

“There are examples out there that blockchain is not most applicable for and that is why Ripple is focused on a real world use case, solving a real (and very large) customer problem, which has converted into commercial traction that is unmatched in the enterprise blockchain space.”

Recently, IBM has built a blockchain for Deutsche Bank as well as HSBC.

They have also developed a solution for the food ecosystem that sanctions manufacturers to track down food contamination in a matter of seconds.

Accounting firm Ernst & Young also revealed its own blockchain answer for the shipping insurance industry in September.

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BITCOIN, BLOCKCHAIN

Mark Cuban Declares Bitcoin, Blockchain Is Way of the Future

Billionaire tech investor Mark Cuban has publically declared that he sees Bitcoin and Blockchain or distributed ledger technology as the way of the future.

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Cuban argued cryptocurrencies like bitcoin were just like conventional stocks in the sense that investors can buy and sell.

“…it’s interesting because I think there are a lot of assets that have values based on just supply and demand. You know, most stocks, they don’t have any intrinsic value, no true ownership rights, no voting rights, you just have the ability to buy and sell those stocks. They’re like baseball cards and I think Bitcoin is the same thing…”

Cuban also confirmed that he has already invested in bitcoin as well as some initial coin offerings (ICOs).

“…I have bought some, bought it through an ETN based on a Swedish exchange because that gave me liquidity. I am also involved with ICOs, actually token sales, because I think Blockchain is a great platform for future applications…”

In June, Cuban tweeted the following:

JPMorgan Chase CEO, Jamie Dimon, is condemning bitcoin further, threatening that governments will terminate cryptocurrency if they flourish.

Numerous prominent financial industry doyens have voiced their oppositional beliefs on bitcoin.

Jamie Dimon, CEO of JPMorgan, called bitcoin a “fraud” that is merely fitting for criminals.

Ray Dalio, head of the world’s largest hedge fund, Bridgewater Associates, claimed that cryptocurrency is a bubble.

And the “Wolf of Wall Street”, Jordan Belfort said, “Be very careful not to invest a lot of money into something that could vanish very quickly.”

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BLOCKCHAIN

Wu Tang Clan Member Endorses ICO

Wu Tang Clan member Ghostface Killah has allegedly co-founded an Initial Coin Offering (ICO) and wants to raise $30 million.

Cream Capital, named after the rap group’s hit song, C.R.E.A.M., an acronym that stands for Cash Rules Everything Around Me, is seeking to be a type of cryptocurrency, and will be incorporated into debit cards that can be spent at any store or other vendor that takes card payments. In Cream Capital, the “C” stands for Crypto.

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DJ Khaled has publicly embraced an Ethereum Initial Coin Offering (ICO) after posting a picture with the Crypto debit card.
DJ Khaled has publicly embraced an Ethereum Initial Coin Offering (ICO) after posting a picture with the Crypto debit card.

Ghostface Killah is certainly not the first celebrity to endorse ICO’s recently.

DJ Khaled, Floyd Mayweather, Jamie Foxx, Luis Suarez, and Paris Hilton are just some of the celebrities that have recently endorsed ICO’s in the past.

Many investors are concerned that these ICO’s are remunerating to be pumped and many believe that they cannot stand on their own.

Brett Westbrook, chief executive at Cream Capital, specified that the celebrities should understand the Blockchain Technology behind cryptocurrency.

Brett Westbrook
Brett Westbrook

“I think the interest of celebrities is a bit of a double-edged sword,” said Westbrook.

“I personally think that anything that puts cryptocurrencies in front of the eyes of everyday people is a great thing for the markets overall. On the other hand, I believe it’s important that celebrities know the importance of their endorsements and understand the underlying principles of Blockchain technology,”

“The last thing we need is a household name promoting what turns out to be a scam ICO.”

Cream Capital said it has operating cryptocurrency ATMs in North Carolina, and anticipates taking “more than half of the global cryptocurrency ATM market” by 2020.

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BITCOIN, BLOCKCHAIN

Russian Central Bank Deliberates A National Cryptocurrency

The Russian Central Bank is considering designing a nationalized cryptocurrency, citing numerous remunerations the technology could yield.

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Olga Skorobogatova, Deputy Governor of the Central Bank stated to reporters that “the creation of a national cryptocurrency stimulates the growth of non-cash payments and electronic payments, including, possibly, cross-border payments.”

Olga Skorobogatova
Olga Skorobogatova

“It is becoming more convenient for all users to pay for goods and services through electronic wallets, and the digital currency can play the role of a catalyst for using it for payments in a broader sense,” said Skorobogatova.

Furthermore, Skorobogatova wants the central bank to focus on cryptocurrency education, mentioning the latest example of imitation bitcoins sold in Obninsk, a city southwest of Moscow.

Mikhail Mamuta
Mikhail Mamuta

“The Central Bank will pay more attention to increasing financial literacy in this area in order to minimize basic mistakes,” said Mikhail Mamuta, the bank’s head of Consumer Protection Services.

Not everyone in Russia is pro-crypto though.

Experts predict that bitcoin could reach $6,000 before the end of this year.

In the meeting between President Vladimir Putin and representatives of Russian business circles last month, the bank’s governor Elvira Nabiullina believed that their validation “is actually a loss of control over the money flows from abroad.”

Nabiullina’s stance echoes the bank’s prior statement concerning cryptocurrency.

“Concerning the use of cryptocurrency, according to the current legislation, the official currency of the Russian Federation is the ruble. The issue of monetary surrogates in the territory of the Russian Federation is not allowed,” the bank wrote.

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