Blockchain and Bitcoin round-up: 14 July 2017
From a mystery to a European duet. Our latest blockchain and Bitcoin round-up features the secretive SafeToken, China’s Asset Collection Chain, Swissquote and Bitstamp.
A former (and anonymous) Goldman Sachs employee has launched the first “anti-bubble” derivative for Bitcoin. They didn’t reveal their name in their email or on the website. A search around hasn’t yielded results yet. It all seems unnecessarily mysterious to not reveal your name, but the person says he/she has examined Bitcoin prices from an economic theory perspective and offers sources as proof.
The company name is SafeToken and it offers an “anti-crash safe mechanism”. The price will be based on a square root of Bitcoin’s mining difficulty. The concept will demonstrate the “true beauty of math and Safe token will be more stable than Bitcoin with smoother returns”. Investors will be able to buy and sell tokens over-the-counter (OTC), and will be able to convert them to tangible US dollars after satisfying the know your customer (KYC) compliance measures. The initial coin offering (ICO) of the token will be made on 25 July and end two weeks later.
Now onto something more definite. Asset Collection Chain, a China-based open source blockchain and decentralised-asset-digitisation platform, says its digital coin, ACC, has begun trading on the Neraex cryptocurrency exchange in Japan.
Trading of the ACC coin follows the firm’s sale of the equivalent of $50 million worth of digital currency in a crowdsale that concluded in early June. Asset Collection Chain “expects” the ACC to be traded on other exchanges, including Canada’s Allcoin and China-based Bexchange, later this month.
Over in Europe, online bank Swissquote has teamed with Luxembourg-based Bitstamp, the European Union’s (EU) “first and only” licensed digital currency exchange. Swissquote will commence with BTC trading with EUR and USD on its platform, with Bitstamp providing a full-stack solution.
The firms say this partnership “represents an important step forward in the integration of the traditional financial and Bitcoin worlds”. Swissquote CEO Marc Bürki adds that this is its “first foray into the world of Bitcoin” and praises Bitstamp’s “focus on regulation and compliance, as well as its payment institution licence”.