The best news of the week
1. China and ICO: eternal resistance
A vice governor of the People's Bank of China Pan Gongsheng made a sharp statement against ICO. He promised "to crush" any financial product which is not authorized under the existing legal framework as soon as it appears. By the way, messaging giant WeChat is helping the watchdog - company is working to detect crypto traders who use the platform for their business.
2. Elon Mask bigs up scam bots.
"I want to know who is running the Etherium scambots! Mad skillz..." - that's how the founder of Tesla reacted John McMahon's message. The user said that the bot asking billioner for money was his new idol.
3. First ever ICCO on Malta
Malta, recently known as a crypto island, will be the place of the first ICCO – initial convertible coin offering. It will be held by a blockchain company Palladium on Bittrex exchange. The difference of ICCO from traditional ICO is that tokens can be exchanged to shares in the future.
4. Opera will implement crypto wallet for its android app
Web browser Opera announced testing of a cryptocurrency wallet implemented in its app on Android. The wallet will first support only ethereum but later the company plans to add other cryptocurrencies. This step should make easier for users to access their crypto holdings.
5. First-Ever Decentralized Bank
A decentralised bank is about to be launch in Malta. Binance, one of the biggest cryptocurrency exchanges in the world, is reportedly among a number of investors backing it. Founders Bank will have systems based on blockchain technology. Moreover, it will be owned by token investors. The bank hopes to obtain a license from Maltese regulators as well as ECBA.
6. Helping hand for start-ups
Fujitsu is launching a new consultancy service that will help blockchain start-ups develop their project. It will include a wide range of services from basic introductory lessons on blockchain technology to assessments of the proposed use case.
7. Saudi Arabia partners with IBM to develop a blockchain strategy
Saudi Arabia has partnered with IBM to develop a strategy to streamline government services and transactions using blockchain. The move they made followed the decision of the government of Saudi Arabia to work on improving the quality of municipal services for customers and integrating leading technologies into services as part of the Saudi Vision 2030 program.
8. USA in the pursuit of crypto criminals
The President of the United States, Donald Trump, assigned a new task force to investigate crimes related to cyber fraud and digital currency fraud. The commission will initiate investigations into various cases involving cryptocurrency.