This was the NEWS (Week 26)

In “This was the NEWS” we take a look at the most important news of last week. What has happened in the crypto space over the last 7 days? News items that you may have missed and you really need to read. You will find it here!

1. BIG! Goldman Sachs Might Create its Own Crypto

CEO of Goldman Sachs, David Solomon, said that he believes stablecoins will become ubiquitous because they greatly facilitate global payments. While he didn’t directly say that his company was creating their own stablecoin, he did say this and it seems like creating one is in their future. 

“Assume that all major financial institutions around the world are looking at the potential of tokenization, stablecoins, and frictionless payments…Admittedly, they will have to evolve, because the trades linked to the payment flows will become less profitable. But there are many other reasons why banks must remain innovative, otherwise, they will disappear.” -David Solomon

Read more about David Solomon’s interview here: https://www.altcoinbuzz.io/crypto-news/product-release/big-goldman-sachs-might-create-its-own-crypto/

1. VeChain Partners with Walmart China to take on Food Safety and Product Traceability

VeChain has partnered with Walmart China to tackle China’s product traceability issue. When customers scan their products they will acquire detailed information about the product’s location, logistics process, inspection report, and more data like this. This is really important because it shows the world a great use case for decentralized, public ledgers to gain trust. Hopefully, more partnerships with VeChain will follow.

Read more about VeChain’s partnership with Walmart China here: https://www.altcoinbuzz.io/crypto-news/partnerships/vechain-partners-with-walmart-china-to-take-on-food-safety-and-product-traceability/

1. Binance is Excited About Libra

While not everyone is enthusiastic about Facebook’s Libra, Binance definitely is. They are in the process of talking with Facebook to potentially getting Libra listed on their exchange. If this happens, this would be a direct link to users buying and storing real cryptocurrencies using Libra.

Read more about Binance’s enthusiasm with Libra here: https://www.altcoinbuzz.io/crypto-news/spotlight/binance-is-excited-about-libra/

1. Ethereum’s Daily Transaction Volume Is Over 1 Million

Arguably the second most important cryptocurrency, Ehtereum, has again reached over 1 million daily transactions for the first time in almost a full year. While Bitcoin leads the charge, Ethereum is usually right behind. It is great to see lots of volume on Ethereum’s blockchain.

Read more about Ethereum’s daily transactions here: https://www.altcoinbuzz.io/crypto-news/product-release/ethereums-daily-transaction-volume-is-over-1-million/

1. Brave Browser Will Soon Allow Users to Tip with Basic Attention Token on Vimeo and Reddit

Brave browser is looking to add support for tipping on Reddit and Vimeo. Reddit is one of the most popular websites, especially in the cryptocurrency space. This is very big news. Showing a great use case for a cryptocurrency on a very popular website. 

Read more about Brave’s tipping update here: https://www.altcoinbuzz.io/crypto-news/product-release/brave-browser-will-soon-allow-users-to-tip-with-basic-attention-token-on-vimeo-and-reddit/

“This was the NEWS” summary!

The past few days haven’t particularly been great for Bitcoin. We haven’t reclaimed the upwards boost Bitcoin has had the past few weeks and months. Having said that, nothing has changed from a few weeks ago. So if you liked Bitcoin at $13,000, then you should like it at $10,000 or lower. 

It is unclear if Libra will even be allowed to launch at this point. It has taken a lot of heat from bankers, regulators, and politicians worldwide. Outside of the cryptocurrency community, Libra has very little support. 

Binance does see the immense value Libra can bring, however. Facebook has an estimated 2.7 billion users, that’s literally more than 25% of the world. Having Libra launch would open people up to real cryptocurrencies like Bitcoin and Ethereum. Having the ability for the most popular exchange, Binance, also list the coin would be great for on-boarding even more users into crypto. 

Recognize the difference between JP Morgan launching JPM Coin and Facebook launching Libra. One was applauded while the other was shunned like some evil doing. The reason for this is the realization that if Facebook goes through with this, banks and governments lose their ability to be the only ones allowed to create currency. While I don’t agree with a lot of what Facebook does, I am all for Libra.