Pineapple Fund | Donates More Than $55 Million In BTC

On May 11, the anonymous philanthropist- “Pine”, curator of the Pineapple Fund, published a touching message in Reddit announcing their withdrawal from the crypto-sphere. Five months ago, a Reddit user by the name of Pineapple Fund, posted an announcement on Reddit asking for recommendations to donate upwards of $86 million worth of BTC too. Many were skeptical and confused. However, when the first proofs of the donations became public, the community acquired a sense of enthusiasm and respect towards the project and its rarity in the world of cryptos. “Hello! I remember staring…

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Most Big Cryptos Dropped this Week – These Two Bucked the Trend

The cryptocurrency markets are set to end the second week of May on a low note. The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on Friday, and has dropped 15.97 percent week-on-week. As of writing, the combined market value stands at $385 billion and could see a further decline as indicated by a head-and-shoulders breakdown pattern on the price charts. Looking at notable individual cryptocurrencies, bitcoin (BTC) has depreciated by 12 percent week-on-week and has outperformed its closer rivals. For instance,…

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Blockchain Security Takes Spotlight At NYC Innovation Summit

“At its highest level, blockchain is a trust layer.” In nine words, Kaleido Insights founding partner Jessica Groopman succinctly summarized the gist of CDX Academy’s “Blockchain Brand Innovation Summit” on May 11 during her opening remarks. The summit itself brought together representatives from blockchain startups and incumbent institutions to debate and discuss different use cases for the technology, noting both its advantages and its flaws. According to various panels, the obvious use for blockchain is in data storage, whether in healthcare or in other private, consumer data. The overreach of many…

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‘Utility’ No More? ConsenSys Pitches ‘Consumer Token’ Label

The Brooklyn Project – the token regulation initiative headed by ethereum startup ConsenSys – wants to dispense with the concept of “utility tokens” in favor of what it calls “consumer tokens.” The Project discussed its intention to shift the discourse at the Fluidity Summit on Thursday during a presentation by ConsenSys’ policy lead Pat Berarducci and OpenLaw’s Aaron Wright. According to a document published by the Project, the initiative broadly aims “to provide a basic framework for long-term oriented behavior and to help establish trust between the initiators of consumer token projects, their…

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At Ethereal Summit, A Human Face On A Blockchain Future

“Raise your hand if you don’t know what ‘bitcoin mining’ actually is.” At an impromptu Q&A at Ethereal Summit on May 11, Consensys software engineer Ashoka Finley encouraged the audience to ask embarrassing questions they might have about cryptocurrency and blockchain. “What’s ‘hashing’? Don’t know what a bitcoin is?” Finley went on, encouraging attendees. The questions spoke to the sentiment on day one of the two-day conference hosted by the company, a Brooklyn-based ethereum startup incubator, characterizing the inclusive atmosphere CEO Joseph Lubin appeared to be aiming for with the whimsical conference…

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Congressional Candidate Vows to Gauge Voter Sentiment With Blockchain

The crypto candidate – it has a nice ring to it. And Brian Forde, former head of MIT’s Digital Currency Initiative, is making that his new title. The author of the White House memo on bitcoin during the Obama administration, Forde is looking to take his interest in cryptocurrency and blockchain technology to higher office – California’s 45th District seat in the U.S. House of Representatives, to be exact. Forde said during the Ethereal Summit in Queens, NY, on May 12 that he is running for office on a platform of bridging…

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Ex-JP Morgan Blockchain Lead Hints at Stealth Startup Vision

Everyone is waiting for Amber Baldet‘s big reveal. Since leaving her role as the blockchain lead at JP Morgan last month, Baldet has been tight-lipped on the new company she plans to launch. Still, her presentation at Ethereal Summit Friday, hosted by ethereum startup incubator ConsenSys, hinted at what the new endeavor might entail. There, Baldet criticized the tribalism that can occur between builders of open blockchain networks and institutions, stressing the importance of hybrid technologies that can deploy verifiable, open-source code resistant to single points of failure but that can…

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A Daily Show Comedian Showed Up to Roast an Ethereum Conference

“No one knows what the fuck is going on.” That’s according to Ronny Chieng, senior correspondent on the satirical news program The Daily Show, who took the stage at Ethereal Summit on Saturday with ConsenSys founder and CEO Joseph Lubin and Kavita Gupta, founding managing partner at ConsenSys Ventures. Chieng, who spoke with Lubin in December on the show, again criticized the big promises and hype of the industry. He argued that many people in the industry use complicated jargon and words that were “invented” two or fewer years ago…

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Losing the Hoodie: Crypto Fashion Gets Loud and Proud In New York

“Make blockchain stylish again, that’s my motto.” So quipped the emcee of the third Ethereal Summit in Queens, NY, during one of the final talks of the two-day event. He’d been asking attendees to ask embarrassing questions they might have about the technology. Joseph Lubin, founder and CEO of event host ConsenSys, had touted the occasion as a way to bring those outside the space into the fold. Artists, musicians, entrepreneurs, enterprise executives and government activists all blended with the usual crowd, and it was obvious. While the reclaimed glass factory where…

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Bahrain Hopes to Cut Vehicle Data Storage Costs Using Blockchain

The Kingdom of Bahrain is eyeing the adoption blockchain technology in bid to cut the cost of maintaining the country’s vehicle registration data. Bahrain’s General Directorate of Traffic (GDT) announced on Thursday a new plan to develop a blockchain-based vehicle registration system in the country and is now looking for a technical partner to focus on the system’s design and implementation. Shaikh Abdulrahman bin Abdulwahab Al Khalifa, director general of the GDT, said in a statement: “This registry will be a vital advancement in reducing the overall cost of maintaining critical vehicle…

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