🗞 Daily Crypto News, October 3rd 💰

https://s26.postimg.org/ap9sknxwp/Crypto\\_News.jpg

CBS Insights Fintech 250 Includes 13 Blockchain Companies
SAFT Arrives: 'Simple' Investor Agreement Aims to Remove ICO Complexities
Goldman Sachs Considering Bitcoin Services for Clients
Industrial Revolution 2.1: How Blockchain Can Finish What the Internet Started
PBoC Advisor: 'China Was Right to Ban ICOs'
BCH Trading Update by @cryptopassion

🗞 CBS Insights Fintech 250 Includes 13 Blockchain Companies

It has to be said that revolutionizing financial technology can be done in many ways. This also explains why the CBS Insights Fintech 250 startup list only counts 13 blockchain companies right now. Indeed, blockchain is one of the smaller industries for the time being, which will come as a big surprise to a lot of people. Then again, there are so many different market opportunities, it is only normal there would be some areas which are more popular than others.

Looking over the blockchain industry, things are a lot narrower for the time being. Some of the companies in the Fintech 250 make a lot of sense, though. Ripple, Blockstream, Xapo, Blockstack, and Chain are all well-respected entities. Coinbase, Brave, bitFlyer, Digital Asset, and Factom are trying to make things happen which other companies have not focused on as of yet. For its part, Polybius is one of the main investors in blockchain startups right now.

🗞 SAFT Arrives: 'Simple' Investor Agreement Aims to Remove ICO Complexities

"Toxic." That's how veteran lawyer Marco Santori described the first "SAFT" he saw.

Created by an unidentified token seller as a way to solicit investment, Santori – the head of >Cooley LLP's fintech practice – went on to call the document a cheap knockoff of the "Simple Agreement for Future Equity" (SAFE) framework popularized by early stage investor Y Combinator.

In true startup fashion, the Cooley partner recalled that it was as if the author simply "held down control and hit 'F'" as part of a misguided effort to replace the word "equity" with "tokens."

Santori told CoinDesk:

"The paper takes a time slice of what's happening in the market today and it applies the prescriptive rules of at least the U.S. securities, money services and tax laws. Frankly, that's one of the more powerful things about the framework – it doesn't require too much deviation from what's actually happening."

🗞 Goldman Sachs Considering Bitcoin Services for Clients

Wall Street investment bank Goldman Sachs is rumored to be putting together a new trading outfit dedicated to cryptocurrencies like bitcoin, according to a new report.

Citing unnamed sources, the Wall Street Journal reports that Goldman is in the "early stages" of the effort – though it cautioned that the bank may ultimately pass on a cryptocurrency-focused trading operation. The Journal further adds that the trading operation could see input from more than one office within Goldman.

"Goldman’s effort involves both its currency-trading division and the bank’s strategic investment group, the people said. That suggests the firm believes bitcoin’s future is more as a payment method rather than a store of value, like gold," the Journal reported.

🗞 Industrial Revolution 2.1: How Blockchain Can Finish What the Internet Started

People often make the mistake of thinking that the Industrial Revolution (the catalyst for modernity and the driving force behind geopolitics to this day) was a phenomenon that took place all at once, in a vacuum, around the world. In fact, it took decades for inventions like the steam engine and cotton gin to spread, improve their functionality, and make a major impact in the lives of everyday people around the globe.

The steam engine itself is just one example. Although rudimentary versions of steam engines existed as far back as the early 1700s, it wasn’t until a century later that the technology powered the British Isles to world conquest.

The first wave of internet-based employment innovations brought websites like Monster and Indeed, online job applications and remote work. The second wave, where we’re at now, is comprised of digital workspaces like Slack and app-based employment.

Uber, Fiverr, Upwork and others all offer particular twists on how people can make money in their spare time with their skills. The online job economy is still fraught with shortcomings for everyday people looking for work. Just google Uber!

🗞 PBoC Advisor: 'China Was Right to Ban ICOs'

Writing for Chinese-language newspaper Caixin, Songcheng – who previously said that the government should mandate disclosure standards for ICO organizers – argued that the crackdown was necessary in order to inhibit the "chaos" caused by unfettered finance.

He wrote:

"I fully agree with the move to ban ICOs in China, and the calls for refunds to be made to investors. In my opinion, these actions are largely aimed at averting risk and protecting investors’ interests while also being an opportunity to further regulate trading of virtual currencies. Still, it is important for China to continue to encourage the current development direction of blockchain technology."