BTC Bump and Slump, Shimmy Sideways
Bitcoin started the week in the US$19k range but started to descend reaching mid US$17k by Wednesday. It has been hovering there since, at time of writing, moving in a tight range sideways. Cryptos across the board has seen a similar hot and cold trend this week, with a high chance of closing in the red. Has the Santa Rally came and gone?
Not many will be singing but Lil Yachty will definitely be rapping with the launch of his tokens. The rapper promised to partner with some very smart people to give fans some ‘dope’ experiences. Money can buy knowledge after all. Moving on to local shores, DBS has officially announced that they will start their crypto exchange as early as next week. Full steam ahead mass crypto adoption. This news came weeks after a tongue-in-cheek social media post from DBS that was taken down shortly after its posting.
What cannot be taken down, is what goes up on blockchain. BMW has collaborated with Oasis for a standalone data privacy project on blockchain. The right data, given to the right people, at the right time. Privileged Access Management (PAM) at its best. What can’t blockchain do? We are about to find out as Singapore approves a US$9M Blockchain R&D Fund. Up to 75 companies will benefit from the fund for blockchain projects with different use-case scenarios. To answer the question, not much.
Mainstream adoption is just round the corner with banks and government trying to make their mark and stay ahead of the curve. Will this sideways price movement end in a break out towards ATH? Invest wisely and avoid leverage.
Follow Up: DBS Bank Singapore to start crypto trading next week
The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets.
The platform will facilitate trading between four fiat currencies - the Singapore dollar, US dollar, Hong Kong dollar and Japanese yen - and four established cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and XRP.
The members-only exchange, accessible by institutional and accredited investors, will also include a platform for the issuance and trading of tokenized assets and provision of digital custodial services.
Lil Yachty’s social token sold out in 21 mins
The token was listed on social money platform Fyooz, where buyers, most likely fans of the rapper, bought $YACHTY for $15 each.
Lil Yatchy mentioned that he is still new and learning about the crypto world but he will be partnering up with some very smart people to give his fans some dope experiences.
The sale is the latest in a recent string of experiments involving social tokens, a way for artists and other personalities to potentially monetize fan engagement as the events industry reels from COVID-related closedowns. Lil Yatchy’s offering, only open to non-US investors, captured mainstream media attention early this month.
Oasis to collaborate with BMW Group to build a new data privacy project
The purpose of the collaboration is to build a new technique of accessing personal data that would place clear restrictions on what information can be obtained and how.
Oasis refers to this constrained approach as ‘differential privacy’. It’s an attempt to provide guarantees that aggregated data cannot be manipulated to get information on a specific individual. Such as, when a dataset consists of the average of some value and the number of participants that make up that average, a single new entry can be easily de-anonymized by tracking the change to the average reading.
$9M Blockchain R&D Fund Approved by Singapore Government
With blockchain seeing increasing adoption in Asia, Singapore plans to invest $9 million to boost utilization of the novel tech in several sectors of the city’s economy.
While the approach to crypto regulations differ across Southeast Asia and indeed the Asia Pacific (APAC) region as a whole, blockchain acceptance remains a common thread.
Nations appear to be in serious competition to become global hubs in the emerging digital landscape.
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