Below you will find week’s summary.
Crypto secured with precious metals
The Swiss from Tiberius Group want to organize ICO, which will be secured with precious metals. The new cryptocurrency is to be created by the end of the year. The capitalization of the digital coin is to be entirely covered with gold, platinum, copper, aluminum and other metals. The starting price for one unit is 70 cents. The supply will be regulated by the valuation of metals that will be in the possession of the Tiberius group.
Tim Draper warns governments reluctant to cryptocurrency
“After years, governments will be assessed in terms of how they managed to cope with the Fiat crisis,” said Tim Draper in an interview for Forbes. Legendary crypto market investor recently also announced that the market capitalization will increase to 80 trillion. dollars. up to 15 years.
“The Internet started in the same way, appeared in large waves, and then came the type of breakdown, and then another, but much larger and more concentrated wave appeared. So I suspect that the same will happen here, “said Draper.
Ethereum will reach new ATH in 2019.
Will Ripple go permanently in the Ethereum cryptocurrency ranking? That we do not know, but founder Fundstrat, Tom Lee, predicts that the price of ETH will reach $ 1,900 before the end of 2019. In his opinion, currently exaggerated bad moods on the stock exchanges will be the basis for future increases.
Establishment of stablecoin Circle
USD // Coin (USDC) is to be created thanks to the cooperation of Circle with CENTER, an open source distribution network that will facilitate making deposits from bank accounts in the United States.
The creators define the project’s ideas in this way:
“We believe that an open internet exchange of values can deepen the transformation and integration of the world, ultimately eliminating artificial economic boundaries and enabling a more effective and global market to integrate everyone in the world. The future of the global economy is openness, community, integration, much more evenly distribution and destiny not only for a few selected participants, but for all those who join it. ”
Austria will save the results of the blockchain bond auction
The Austrian government is to use a blockchain to record the results of the government bond auction.
Angelika Sommer-Hemetsberger, board member of OeKB, the bank responsible for the project, commented on:
“Blockchain technology offers tremendous potential in terms of increasing efficiency and ensuring the quality of banking processes, which is why we’ve been intensively working on this topic for some time and have already tested several prototypes.”
Markus Stix, the head of OeBFA, also sees pragmatic elements in the whole matter:
“This additional security contributes to a high level of confidence in the auction of Austrian government bonds and strengthens Austria’s good position in the market, which may also indirectly contribute to obtaining favorable financing costs.”