Hello! This is CoffeAJE which means a man who makes coffee.
Among overflowing blockchain related news, I will introduce five news as ordinary man in 30s who is interested to blockchain and cryptocurrency.
NO.1 Bithumb, Business Close When Any Big Problem Happens? Revision of Terms of Use Issue.
The cryptocurrency exchange Bithumb has been subject to the controversy by revising the Terms of Use. This is because the contents of the exchange has been changed so that the liability can be avoided even if there is an exchange error such as the management of the issuance of a cryptocurrency, issuance of a currency, and the system defect. The controversial part is Article 13 Clause 2. The Company has changed the existing terms that "the company should notify 7 days in advance when changing the contents of the service" that the company can terminate or change the service according to the operational and technical needs if there is a substantial reason.
In other words, if an event is detected that might cause huge damage on Bithumb, then they can close the crypto exchange service without prior notice. In the existing terms it said '7 days before notice' is mandatory, but now this is also deleted. The final safety tool for the investors is gone, and now they revised that Bithumb can end the operation without any special compensation or follow-up management.
It looks like Bithumb has been on the hot topics a lot recently, and sadly it was on bad news. It is sad that the cryptocurrency market has not been able to get out of the downturn, and it is in a situation of worrying that it will continue to have a controversy for bad news even if it established a stronger security system and builds trust of investors in previous time. I've seen the cryptocurrency trading rank. Bithumb has ranked #6 in the world, and it could be #1 in Korea beating Upbit, and I hope that Bithumb will stop betraying investors' trust in the future.
I heard about Bithumb’s announcement and I visited Bithumb’s homepage, and I could see that the controversial article 13.2 has been changed. There have been a lot of cryptocurrencies which recently listed on Bithumb. However, they only supports deposit and does not support withdrawal. I would like Bithumb to support withdrawal as soon as possible. When I got the Kyber Network(KNC) listing notice from Bithumb, I sent my KNC to Bithumb in order to sell them when the prices rise after listing on Bithumb, and rebuy them to increase the number of KNC coins in adjustment after listing pump. However, the listing time was different between, Bithumb and Bithumb pro.. so I just kept my coins on Bithumb, but now I can bring them out. ^^..
NO.2 French Economic Deputy Prime Minister, Will Lead the Blockchain and Cryptocurrency Innovation.
The French economy vice prime minister has publicly expressed his willingness to support cryptocurrency and blockchain technology. In France's blockchained media ‘Bitcoin.fr’, French economic minister, Bruno Le Maire expressed complete and decisive support for the blockchain ecosystem in a breakfast with IT companies’ business people. He said that he discussed the cryptocurrency tax and accounting rules. Prime Minister, Le Mere, said he was a beginner in the blockchain ecosystem a year ago, but now that he is passionate and universally trained, he wants to make France one of Europe's finest blockchain and cryptocurrency innovated place.
Despite the downward trend starting from the first weekend in May, there seems to be a lot of positive news about the blockchain. It seems like I am posting about Europe’s news at least one time a day. I am wondering how the UK, one of the center of the world economy and who left Germany and the European Union alliance, will define and accept blockchain and cryptocurrency. I will hear any related news then I will introduce the news rather it is good news or bad news.
NO.3 Goldman Sachs’ CEO Will Be Replaced Soon.
Goldman Sachs’ CEO Lloyd Blankfein is expected to step down as chairman in December. Blank Pine has been CEO of Goldman Sachs since 2006, before Bitcoin was born. In the past, he was a Bitcoin skeptic, but recently he has seen the changes in the real world, reflecting the market demand, and recognizing some degree of cryptocurrency. It is still unclear what position David Solomon, the successor of Blankfein, will have for cryptocurrency market.
In the blockchain and cryptocurrency industry, it seems that the Wall Street’s Goldman Sachs and JPMorgan are continually checking for the movement of cryptocurrency market. In other words, for the growth of the cryptocurrency market, it requires a large influx of Wall Street money. I have to convey my thoughts through a cool analysis based on the facts about the daily produced blockchain and cryptocurrency news. The news I read are positive, but it is ironic because the market is heading downward. I must try not to fall into the realm of prayer.
NO.4 Ethereum Foundation Advisor, Lack of Fundamental Understanding of SEC about Cryptocurrency.
According to CNBC reports, William Mougayar, author of the Business Blockchain and adviser to the Ethereum Foundation, says the SEC is not well understood about cryptocurrencies. He said the SEC is trying to regulate cryptocurrencies but does not understand its core characteristics. They applies only a uniform approach. Not all cryptocurrencies are security, but all cryptocurrencies are regarded as securities to SEC and SEC is forcing to fit into the one regulatory framework for all kinds of cryptocurrencies.
And William Mougayar says that all support, including developers, startups and venture investors, is being driven into Ethereum, and that Ethereum will go beyond Bitcoin. And what is important is who is using the technology, not the technology itself.
At the end, he said 'The important thing is not the technology itself, but who's using it.' His expression makes me feel like I am punched in my face because of a coin I owned. EOS’s mainnet listing is only about 10 days left. I feel the bitterness because I feel like the coin I chose is moving away from the center of the competition among platform based cryptocurrencies. I am wonder if it is right to just wait or not.
NO.5 PayPal’s first COO, Asset Tokenization Will Introduced to Real Estate First.
David Sacks, PayPal's first Chief Operating Officer, said blockchain tokenize assets will be introduced in real estate first. The current real estate market is about 70 trillion dollars, but it has a low liquidity. So, if the tokenization makes it easier to sell real estate, the value of assets will become higher in liquidity.
It seems that the technology on a blockchain is the cryptocurrency of ownership of certain assets. It is likely to be possible in the very distant future. It's a bit different than the David Sacks securities token, but I think it would be interesting if there is a system that we can buy a 100 of real estate token and use them to buy building A which is worth 10,000 real estate token(we only buy 100 worth real estate token, we don’t have to pay for all 10,000 real estate token), and we get paid 1% of benefit for amount of we invested(so we get paid 1 real estate token as benefit). I think this could make real estate market bigger and more active.
Did you have good holidays for Buddha’s Day? I was able to sleep late with the care of my wife. I originally planned to get up early and go out to nearby Buddhist temple, but my wife did not wake me up early because she saw me working late at my shop, so I just had breakfast with her and she let me sleep again. I got up in the afternoon and ate Korean Bibimbap which I have been thinking to eat for few weeks! After that my wife went back to her place, and I went to my shop.
I switched shift with part time worker, and hoping that I could hear the good news for today’s sale, but I think everybody went out of town for holiday.. the sales wasn’t great and it made me cry a bit.. Tomorrow will rain also… haha..
This is it for today.
I couldn't write 'Blockchain news' posting for 2days because 
I have been thinking for a long time and doing my best for good posting.
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