Facebook Acquires Blockchain Startup
It has been reported that Facebook has recently acquired a blockchain startup that specializes in smart contract development.
According to an unnamed source, Facebook’s secretive crypto division has acquired Chainspace, a blockchain firm founded by University College London Researchers.
The Chainspace describes its project as a planetary scale smart contract platform that uses distributed web of blockchains for scalability, speed and privacy.
The blockchain organization has not publicly acknowledged its acquisition but have sent clues that organization changes are underway stating their code and documentation will still be open source and all previously published academic work remains available.
Facebook spokesperson confirmed that former Chainspace employees are working in its blockchain division saying that like many other companies, Facebook is exploring ways to leverage the power of blockchain technology and the recently acquired team are exploring the many possible use cases.
House Subcommittee In New Hampshire Votes Yes To Accept Bitcoin For Taxes
The house subcommittee in the state of New Hampshire has unanimously approved Bill 470-FN that was filed at the beginning of the year.
While the vote is not a guarantee that it will be passed into law, this development is a positive step towards making that a reality.
Should the bill be passed into law, the state treasurer of New Hampshire will have to develop a plan for the state to start accepting cryptocurrencies as payments for fees and taxes by July 1st 2020.
The new bill seems to follow the footsteps of Ohio where companies are able to make Bitcoin tax payments online using its own payment portal that is facilitated by Bitpay.
The aforementioned States are leading the way to regulatory clarity in the U.S. where most other legislators in other jurisdictions are still trying to understand the nascent industry or have yet to put an effort to provide proper regulations in the space.
Binance Launchpad To Launch Another Crypto Project
After a very successful sale of BitTorrent’s Token, Binance will host another token sale which is set on February 25 for Fetch AI token.
The price for the token is not yet released and will be revealed on the day of Launch.
The new project hopes to emulate the success of the recently concluded token sale of BItTorrent Token which sold out in Just minutes.
The project aims to create an entirely new economy that is based on autonomous agents.
The developers of the project describe the platform as a kind of world where a collective super-intelligence actively delivers answers to users.
It is a new AI-based autonomous machine economy to life.
The total supply of FET is 1,152,997,575 tokens.
Price will be revealed on the day of the launch and will be set in Binance Coin (BNB).
The token sale will start at the above stated date and will end in March 2, 2019.
Mike Novogratz Admits Crypto Winter May Last Longer
The CEO of Galaxy Digital, Mike Novogratz has recently admitted that the crypto market would need more time to recover than he had originally thought.
Back in September he has predicted that institutional players would make bitcoin price to reach $10,000 by the end of 2018 and later in October adjusting it to 2019.
Now he is thinking it might last much longer.
Although he has admitted that the recovery of the nascent industry will take a longer time he emphasizes that it will be institutional investors who will help to improve the situation.
He further explains that the changes in the prediction are related to the nature of institutional investors who like to take their time to study their investments.
Some pundits believe that bulls like Novogratz are too optimistic about the prospects of a market recovery for the new digital asset.
There are obvious reasons for their attitude.
They have invested a lot of their funds in the development and growth of the industry that it is of paramount importance to ensure its success.
Accounting Industry Rushing Into Crypto Space
It is no secret that the accounting industry was late getting into cryptocurrencies.
However, as the industry matures, more and more accounting service providers are rushing into the blockchain space.
Accounting experts can double accounting fees by offering crypto tax services.
This is due to the additional challenges the nascent industry gives the accounts.
Analyzing financial transactions is a detailed process that is prone to costly errors without the structured process and workflow in place.
Adding the cryptocurrencies into the equation makes it a whole lot complicated as it adds an additional layer of complexity and no reporting standards that have been develop for it yet.
It is important that crypto investors work with accountants that not only understands and invests in crypto but also those who has a strong background in financial services.
Crypto investor should work with CPAs or accounting firms that offers tax and service for cryptocurrencies who know how to prepare their taxes, tax planning and portfolio reconciliations.
Headlines for the world of Cryptocurrencies - February 04, 2019XRP More Decentralized Than Bitcoin According To Ripple Executives / Cash App Second Most Popular Apple Application / Lightning Network Continues To Grow Amidst Market Down Turn / Gold-Backed Stablecoin Launches In Iran / UK Transport Provider Will Use Crypto For Loyalty Programs |
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Headlines for the world of Cryptocurrencies - February 03, 2019Crypto Mobile App From Germany’s Second Largest Exchange Launches / Top Indian Crypto Exchange Expands To Europe / Cryptocurrencies Now Legal Properties In Wyoming / CoinGate Now Supports Ripple’s XRP / Japan Now Is The Leading Currency In Bitcoin Trading |
Headlines for the world of Cryptocurrencies - February 02, 2019VanEck Refiled Its Bitcoin Excange-Traded Fund Application / 7 Crypto Exchanges Using NasDaq’s Market Monitoring Tech / Bitfury Launching Crypto Mining In Paraguay / New York Regulator Approves Another Bitcoin Operator / Fidelity’s Crypto Trading And Crypto Custody Services On Final Testing |
