November 1st, 2017
In my humble opinion...
laugh all you want, it'll be the most expensive joke you ever make.
— Amber Kanwar (@amberkanwar) October 31, 2017
Coin of the Day
Insurance just got a whole lot smarter.
Nearly every field is being disrupted by blockchain, and the insurance industry is no different. With the advent of technology and hyper-connectivity, the Internet of Things (IoT) is expanding exponentially and is projected to grow to a whooping 75.4 billion products in the next eight years. Aigang is a company which that wants to take advantage of these advances. The project promises to offer self-paying insurance on IoT devices on the blockchain, where IoT devices detect their faults or failure dates and autonomously pay out insurance claims with AIX tokens (coins issued by Aigang). Their proof of concept is available on Github, and has since been used by netizens in issuance of 2000 smart insurances. Check out their whitepaper here.
Give the people what they want! Millennials are a large untapped segment for crypto, proving that education is a top priority.
We've said it before, and we'll say it again: knowledge is power, especially for blockchain and cryptocurrencies. According to a recent survey conducted by student loan service LendEDU, about 1/3 of respondents between the ages of 18 and 44 planned to invest in Ethereum. This coincides with LendEDU's previous report that 35% of people between 18 and 34 planned to invest in Bitcoin. Wow. And that was in mid-September. There's a high chance that as Bitcoin's price increases, so will millennials' interest in the digital currency. A generation raised on video games and online marketplaces will have far less trouble conceptualizing cryptocurrency than their parents.
Cryptocurrency courses are beginning to pop up, with Stanford, NYU, UC Berkeley, MIT, and Carnegie Mellon all offering classes on Cryptography, blockchain, and digital currency. Currently, only one in fourteen jobs in the crypto industry are filled, and job postings in this space have doubled in the past twelve months. You can't say there isn't demand.
Kindly move aside, fiat. You're getting in the way of technical innovation (again).
David Harris, the head of the commercial innovation sector of the London Stock Exchange Group, spoke at the London Blockchain Summit yesterday. Harris explained that, "Eventually, and hopefully, central banks will issue their currency in a digital form on a blockchain, because then that will facilitate collateral movement." He went on to clarify the obvious: banks are fearful of this shift to digital money because it takes out the middle men – banks.
In other news, CNBC's Fast Money had Brian Kelly advising the public to include Bitcoin in their investment portfolio for three reasons: there's demand for the product, there's a massive potential market, and the digital currency will "Amazon" the banks in a disruptive sense. Basically, Bitcoin appeals DTC ("directly to customer") just as Amazon does. In case you missed it, Amazon is on fire this year, and any positive association with the e-commerce giant is a win for crypto.
— CNBC's Fast Money (@CNBCFastMoney) October 30, 2017
Side note: almost all altcoins are down today, most likely from the extreme confidence buyers have in Bitcoin right now thanks to a new high of $6,400 yesterday.
In the long term, this is awesome. Hold tight, folks. Now back to your normal programming.
Bitpay is suspending its services during the Segwit2x hardfork and people are low-key freaking out about it. Safety first!
Dilbert creator and long-time crypto supporter is planning on launching an ICO for his company, WhenHub.
Swarm Fund ended their token sale with a total of $5.5 million. Stay tuned for more from the SWARM team...
For your coworker who just doesn't get it: this article explains why Bitcoin is a big deal, so you don't have to.
The US Department of Energy might be onto something, thanks to a new report suggesting blockchain could help fund power sources.
Coin to Watch
Winning comment pic.twitter.com/hD23AaHto6
— Squeeze (@cryptoSqueeze) October 31, 2017