Market Summary
Market Cap: $103,650,012,757
We're seeing the market take another giant leap within the last 24 hours, pumping over $10B back into various coins. Everything in the top 20 is green once again after a few days of market corrections.
News:
NEM.io Foundation Unveils US$40 Million Global Expansion Plan
https://coinjournal.net/nem-io-foundation-unveils-us40-million-global-expansion-plan/
The NEM.io Foundation, the creator of the NEM blockchain platform, has planned to spend US$40 million in the year to come to fuel global expansion, the organization said today. US$5 million will be allocated towards supporting blockchain companies incubated in the Blockchain Center. Other initiatives part of the partnership include the development of a cryptocurrency exchange for the NEM ecosystem. Blockchain Global previously built ACX.io, Australia’s largest Bitcoin exchange by volume. “The opening of a non-profit blockchain center in Malaysia allows both Blockchain Global and NEM to pursue our missions to foster mainstream innovation and adoption internationally,” said Sam Lee, CEO of Blockchain Global. “We’re proud to work with the NEM.io Foundation, as we believe their blockchain technology platform is the future standard for mainstream enterprise and organizational infrastructures.”
Burger King in Russia to Accept Bitcoin As Payment for its Fast Food
https://coinidol.com/burger-king-in-russia-to-accept-bitcoin/
Dmitry Medvedev, General Director of Burger King Russia, said that the company will announce the winner of a tender for the development of the software that should allow restaurants to accept bitcoin as a payment for fast food by August 10. The company that gets the tender will have to develop software for payment via Bitcoin through Burger King's website, iOS and Android mobile apps, as well as cash registers.
Colombia Clarifies Stance on Bitcoin
https://news.bitcoin.com/colombia-stance-bitcoin/
Referencing past circulars, Gutiérrez reiterated that no digital currency has been recognized as currency by the legislator or the monetary authority. Citing Article 6 of Law 31 of 1992, he said Colombia’s only monetary unit and unit of account is the peso issued by Banco de la Republica. “Bitcoin is not a currency of Colombia and, therefore, does not constitute a means of payment or legal tender.” While digital currency is not banned in the country, the Superintendency reminded the general public in the circular that “it is up to each person to understand and assume the risks inherent in virtual currencies if they choose to deal with them, since they are not protected by any type of private or state guarantee,” Gutiérrez explained. “Its operations are also not eligible for coverage by deposit insurance.”
Sia takes on cloud giants with blockchain-based decentralized storage
David Vorick, who cofounded the decentralized storage start-up, believes we have to strive to ensure the internet remains a relatively borderless and free place. He said: "Say you are a company in Russia, you're a company in China, a company in Turkey, Iraq, Iran; if you want to use cloud technology your only option is a US infrastructure provider. "This means if the US decides to make sanction plays, economic plays, any sort of power move against your country, your infrastructure may be shut down as a result." Vorick was taking part in a panel involving other providers of decentralized infrastructure (Blockstack) and decentralized storage solutions (Storj and IPFS), at the recent Token Summit 2017 at NYU. The panel discussed, among other topics, AWS's S3 mega-outage which for five hours crippled a large chunk of the internet.