Weekend recap: Brooklyn Nets player launches tokenised bond 🏀

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It might seem that Bitcoin celebrates a different anniversary every week, but any excuse for a party, right? So get the party poppers and balloons ready, because yesterday was the 11th anniversary of the first Bitcoin transaction!

 

On 12 January 2009, computer programmer Hal Finney received 10 BTC from the pseudonymous creator, Satoshi Nakamoto, as a test. Finney commemorated the now-historic moment on Twitter with two simple words: “running bitcoin.”

 

 

Today, as we look back over the weekend’s news, evidence of how far we’ve come is there for all to see. Take a moment, breathe it in, then call your friends round to get the party started. Maybe you could even re-enact the moment that first BTC was sent.

 

But first, read this recap of the weekend’s news. It will give you something to talk about. We’d hate for you to be left behind the conversation at your own party.

 

Digital currency watch: China 🇨🇳

 

The People’s Bank of China (PBoC) has announced that the top-level design of its much anticipated digital currency has been completed.

 

Chinese news site JRJ.com reported that the central bank has announced the development in a new paper, which states that the “top-level design, standard formulation, functional research and development has been completed.”

 

China’s digital currency has been in the works since 2014, but an official launch date has yet to be released. However, the flurry of recent reports suggest the digital yuan could be set to launch sometime in 2020. It has been reported that the first cities to pilot the digital currency will be Shenzhen and Suzhou.

 

According to the PBoC, the currency will first be distributed to commercial banks. Thereafter, users and businesses will be able to register digital wallets with these commercial banks.

 

Hardware blockchain devices win plaudits at CES 2020 📱

 

The enormous and extremely well-marketed Consumer Electronics Show in Las Vegas took place last week, with two crypto companies winning CES Innovation Awards and sought-after spots at the gadget showcase.

 

The first is a blockchain phone built by Pundi X. The phone, aptly named BOB (Blok on Blok), is geared to offer users more control over their data. Pundi X’s Soohan Han explains, “the point of the BOB phone is to give users confidence that their communications really aren’t being monitored”.

 

The second device comes from “Internet of Trusted Things” startup IoTeX. The Ucam is a home security camera that shares footage to the cloud. Interestingly, the product is not actually branded as IoTeX.

 

"Our company is a blockchain platform, and we are working with other IoT and hardware manufacturing companies to make private and secure IoT devices," IoTeX’s Dorothy Ko explained. Tenvis, a household name in the camera industry will be building and offering the device instead. Their goal is to mix the efficacy of the camera with increased privacy on the cloud.

 

Innovative startups using blockchain solutions to solve common consumer problems. Great to see.

 

Nets player launches tokenised bond 🏀

 

Spencer Dinwiddie, Brooklyn Nets starting point guard, is set to launch his tokenised security offering today (13 January 2020). The NBA player collaborated with digital securities company, Securitizein to develop the token.

 

Dinwiddie announced the launch of his new investment platform, DREAM Fan Shares, in September 2019, outlining its purpose as being “a portal for supporters and fans who want to invest in the potential success of athletes and stars.”

 

The NBA is still looking into how the tokenised operation will sit alongside the league’s guidelines, having initially expressed concern over Dinwiddie’s plans. The NBA was concerned that the tokenisation platform would constitute a breach of the NBA players’ collective-bargaining agreement, as investors would gain more in dividends in 2021 if Dinwiddie decided to move teams and pursue a higher-paying contract elsewhere. “Pretty much what they said was that the player option was gambling,” he told Forbes, “And that would’ve been cause for termination.” Dinwiddie has since removed the option, though the NBA has yet to give full approval.

 

This thread is a good explanation of why it’s an important development.

 

 

12% of America’s biggest charities accept Bitcoin 💰

 

The Block’s latest research on US charity organisations has found that 12% of America’s 100 biggest charities accept Bitcoin donations. Further research showed a significant amount of those donations are routed through well-known payment processor, BitPay.

 

The advantages of using crypto for charitable donations have been expounded for some years, most recently to help with the Australian wildfires. BitGive, for examples, uses Bitcoin’s blockchain and works with smart contract provider RSK. Its GiveTrack project follows donated money, showing who it benefits. “It's a way to be transparent,” BitGive founder Connie Gallipi told Coindesk. “It says this project was created on this day in this time, this NGO was added on this day in this time and we checked the bitcoin rate on this day at this time.”

 

Keep reading...

 

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @lunomoney.

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