Insurance Giant Ping An, Sanya City Gov’t to Build ‘Smart City’ with Blockchain

China’s Ping An Insurance Group, one of the world’s largest insurance corporations, and the Sanya municipal government signed a strategic cooperation agreement for “Smart City” construction. The new project will be backed with blockchain tech, artificial intelligence (AI), big data, and cloud computing, the official state run press People’s Daily reported Nov. 14. Ping An Group signed a strategic agreement with the Sanya Municipal People’s Government to carry out comprehensive cooperation on financial investment and “Smart City” construction as a part of a major strategic urban development in China. The…

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US Fast-Casual Salad Chain Sweetgreen to Use Blockchain in Food Supply Tracking

U.S. fast-casual salad chain Sweetgreen has announced a second funding round to raise $200 million, mentioning blockchain among its key development areas, according to a press release published Tuesday, Nov. 13. Throughout the first round, closed late October, the company managed to raise $200 million, becoming valued at over $1 billion. During the second round led by major asset management company Fidelity Investments, the salad chain aims to raise an equal amount. The сapital raised, in particular, will enable Sweetgreen to focus on technology and supply chain development, the release…

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OKEx Notes Early Delivery of BCH Futures After Trading Stop to Avoid Market Manipulation

The world’s current biggest crypto exchange OKEx has announced early delivery of Bitcoin Cash (BCH) futures contracts immediately after trading stop time today, Nov. 14, according a press release shared with Cointelegraph. As per the announcement, all Bitcoin Cash futures contracts have been set to stop trading at 9:05AM CET and delivered subsequently at 10:00AM CET due to the upcoming hard fork of Bitcoin Cash, Bitcoin ABC, scheduled for tomorrow, Nov. 15. According to Twitter, OKEx has released a notice on early delivery of Bitcoin Cash futures eight hours ago…

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Trends, Capitalization, Localization, Success Rate

Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision. The ICOmeter aims to provide the accurate and concise information about the development of the ICO market in the previous month, and its relation to the all-time statistics. The ICO market data is provided by ICObench, based upon the projects’ announcements recorded in ICObench database, which includes over 4700 ICOs since August 2015. ICO market situation in October is the result of different…

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France Accounts for Minor Part of Global ICO Market, While US Leads the Industry

The Initial Coin Offering (ICOs) industry in France represents a minor part of the global ICO market, according to a report on ICOs released by French financial markets regulator AMF (l’Autorité des marchés financiers) today, Nov. 14. According to the recent study, the global ICO market has accounted for 19.4 billion euros ($21.8 billion) since 2014. Having experienced rapid growth since 2016, most of the market share has mainly been concentrated in 2017 and during the first three quarters of 2018, with 13.4 billion euros ($15 billion) raised within this…

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$5 Trln FX Settlement Giant CLS to Launch Blockchain-Based Netting Service ‘Within Days’

Forex exchange (FX) settlement giant CLS will launch its IBM blockchain-powered netting service within “a matter of days,” according to Chief Strategy Officer (CSO) Alan Manquard. The CSO made the announcement at the IBM Think Tank conference in London Nov. 14, as reported by tech news source Computer Business Review (CBR). CLS Group, which reportedly settles on average $5 trillion in payment instructions daily, is a U.S. FX settlement service supplier with high-profile members that include Goldman Sachs, JPMorgan, Barclays, and Citigroup. A netting service entails offsetting and determining the…

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Blockchain-Based Exchanges Will Replace Traditional Ones in 10 Years

Digital exchanges based on blockchain technology will completely replace traditional ones in ten years, Thomas Zeeb of Swiss leading stock exchange SIX told Reuters Wednesday, Nov. 14. “The existing system could be completely replaced by the digital exchange in about 10 years,” said Zeeb, who is leading securities and exchanges department at SIX. “The moment that brokers, banks, insurance companies and big asset managers really see the cost advantages [of blockchain], they’ll move relatively quickly,” he further added. Zeeb talked to Reuters in the wake of the launch of SIX’s…

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CBDCs Can Alleviate Risks That Contributed to 2008 Financial Crash

Stanley Yong, global lead for central bank digital currency (CBDC) solutions at IBM, has said that CBDCs can help to mitigate the risks that contributed to the 2008 financial crash. Yong spoke on his perspective of how to overcome the fragmentation of existing digital payment systems during an interview for CNBC’s Squawk Box Nov. 14. CBDCs, or national digital currencies, are virtual currencies that are issued and controlled by a federal regulator. CBDCs are not decentralized, like most cryptocurrencies — instead, they represent fiat money, only in digital form. Yong…

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Messaging Giant Kakao, Stablecoin Terra Partner for Blockchain Payment System

Kakao Corp, a major Internet conglomerate and service provider for popular South Korean messaging app KakaoTalk, and a new stablecoin project, dubbed Terra, have signed a partnership agreement to develop the latter’s blockchain-based payment system, English-language news outlet The Korea Times reported Nov. 14. The new partnership agreement will apply the former’s blockchain platform technology Klaytn, the brainchild of Kakao subsidiary Ground X, to a blockchain-based payment system. Through the two firms’ cooperation, the article notes plans “to enhance core requirements for payment services, such as speed, stability and reliability,”…

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Tokyo Police Arrest 8 Men Allegedly Involved in $68 Million Crypto Pyramid Scheme

Tokyo police have arrested eight men that are suspected of collecting a total amount of $68.4 million in cash and cryptocurrency using a pyramid scheme, Japanese daily newspaper Asahi Shimbun reports Wednesday, Nov. 14. The suspects claimed to run a U.S. investment company dubbed “Sener,” conducting seminars with foreign speakers. The police report that at least one of the meetings has been recorded, with video uploaded on YouTube. During the seminars, the group of suspects promised monthly returns from 3 to 20 percent for the investments. The suspects also asked…

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