Cryptocurrency Market Review 09.05.2018
Wit Olszewski
Main page Digest, Bitcoin, Ethereum, Bitcoin Cash, Ripple

Former Goldman Sachs CEO Predicts Global Cryptocurrency

Gary Cohn, Ex-Goldman Sachs CEO and former chief economic advisor to the Trump administration, predicted the appearance of a global cryptocurrency in a CNBC interview. According to him, the currency won’t “be based on mining costs and costs of electricity and things like that". He explained that it would likely be based on blockchain technology, but it would be “much more easily understood how it's created and how it moves and how people can use it."

Australian Government to Spend over $500K on Blockchain Research

According to the Australian government budget published on Tuesday, the country’s Digital Transformation Agency is to receive AU $700,000 (about $521,000) to apply blockchain technology into government services. Notably, this isn’t the Australian government’s first foray into studying blockchain technology. Last year, the innovation arm of the Commonwealth Scientific and Research Organisation (CSIRO), issued two reports on use cases and the possible risks of blockchain. Before the turn of the year, the government issued over AU$8 million (around $6 million) in grants to a blockchain-based smart utilities pilot project.

Ukraine to Consider Recognizing Cryptocurrencies as a Financial Instrument

Timur Khromaev, the head of the Ukrainian National Securities and Stock Market Commission (SSMCS), said that his office will be submitting a proposal to the Financial Stability Council regarding the recognition of cryptocurrencies as a financial instrument. The announcement was made in a Facebook post following the annual IOSCO (International Organization of Securities Commissions) conference in Budapest. According to Khromaev, the crypto industry has developed rapidly over the past three years, with crypto markets becoming an “integral part of economic and financial relations”. Highlighting the necessity of their legal recognition, Khromaev said that “the point of no return is in the past.”

Reddit of the Day

A post published by arabscarab, calling on users to support the Red Alert for Net Neutrality campaign, has become the most-discussed topic of the day on Reddit. The campaign plans to display prominent messages in support of Net Neutrality, with users being encouraged to flood social media with posts support internet freedom. Major sites such as Vimeo, Tumblr, Etsy, Postmates and Foursquare have pledged to take part.

Total cryptocurrency market capitalization stands at $422 654 120 797

Bitcoin (Bitcoin) is down 2,36% to $9 145,36

Ethereum (ETH/USD) is down 3,30% to $730,50

Ripple (XRP/USD) is down 5,97% to $0,781243

Bitcoin Cash (Bitcoin.Cash) is down 6,05% to $1 539,88

EOS (EOS/USD) is down 4,73% to $17,70

By Nadya Astam

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