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Ethereum Price Technical Analysis – ETH/USD to Retest $800?

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Key Highlights

  • ETH price is slowly moving higher and is currently above the $720 level against the US Dollar.
  • There is a major bullish trend line forming with support at $710 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is now above the 100 hourly simple moving average and is moving towards $800.

Ethereum price is back in the bullish zone against the US Dollar and Bitcoin. ETH/USD might gain further in the near term towards the $800 level.

Ethereum Price Support

It seems like another support base was formed at $615 in ETH price against the US Dollar. The price has moved above the $650 level and the 100 hourly simple moving average. The best part is a close above the 50% Fib retracement level of the last decline from the $838 high to $475 low. The current price action is positive above the $700 level and it looks like the price might continue to head higher.

On the downside, there is a major bullish trend line forming with support at $710 on the hourly chart of ETH/USD. The trend line is also around the 100 hourly SMA at $690, which is a key support area. At the moment, the price is struggling to move above the 76.4% Fib retracement level of the last decline from the $838 high to $475 low. Once there is a close above the $752 level, there can be more gains above the $780 level. The next major resistance is around the $800 level. The last one is around the $830 swing high.

On the downside, the $700 level is a decent support. However, the $680 level and the 100 hourly SMA is a good buy zone.

Hourly MACD – The MACD is now back in the bullish zone.

Hourly RSI – The RSI is moving higher and is heading towards the 65 level.

Major Support Level – $680

Major Resistance Level – $752

 

Charts courtesy – SimpleFX

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Finablr’s UAE Exchange, Ripple to Begin Blockchain Payments by First Quarter

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United Arab Emirates-based UAE Exchange and U.S. startup Ripple plan to launch cross-border remittances to Asia via blockchain by the first quarter of 2019, UAE Exchange’s group CEO said in an interview.

Asia was one of the biggest recipients of the roughly $613 billion in remittances sent globally last year, with a large swathe coming from expatriate workers in the Middle East, where UAE Exchange, part of payments and foreign exchange company Finablr, is one of the main players.

Most funds are currently sent through foreign exchange branches but a growing chunk is being transferred via websites and apps, with the use of blockchain technology expected to ramp up in the next few years — a transition that UAE Exchange and San Francisco-based Ripple are aiming to capture.

“Blockchain holds tremendous promise for the industry but there is progress to be made before we see it go fully mainstream,” said Promoth Manghat, also executive director and chief executive at Finablr.

“We expect to go live with Ripple by Q1, 2019 with one or two Asian banks. This is for remittances to start with, from across the globe into Asia.”

In February, UAE Exchange and Ripple announced a partnership to process cross-border payments, making the UAE-based company the largest payments firm in the Middle East to use Ripple’s blockchain technology for processing payments.

RippleNet, which includes more than 100 member banks and financial institutions, enables messaging, clearing and settlement of transactions.

Middle East lenders National Bank of Ras Al Khaimah (RAKBANK) RAKB.AD and Kuwait Finance House (KFH.KW) have also joined RippleNet, alongside global banks such as Standard Chartered (STAN.L).

“We are also looking at how Ripple can enhance our business-to-business solutions at Finablr,” Manghat said.

Finablr, which houses Travelex Holdings, Xpress Money and other businesses, has hired JPMorgan and Barclays as global coordinators for its listing in the first half of 2019 on the London Stock Exchange, Reuters reported last month.

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Stablecoin Project Basis is Shutting Down

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Basis, one of the most well-known stablecoin projects, is shutting down and returning nearly all capital raised to investors. According to a Basis investor, Basis had a specific contract with investors defining how the majority of capital raised was required to be held. Most of the money was legally required by contract to be held in the currency in which it was contributed and could not be touched by the company until Basis launched its stablecoin.

In the event that Basis failed to launch, the capital was required to be returned in the form in which it was escrowed. Since Basis contributions were made primarily in cash by investors, nearly the entire treasury of the company remains intact and will be returned to investors.

The firm, which raised $133 million in funding, ran into regulatory headwinds as it attempted to get its algorithmic stablecoin off the ground, said multiple people with direct knowledge of the situation. As a result, Basis is shutting down operations and returning the majority of capital raised to investors. Backers include Bain Capital Ventures, GV, Andreessen Horowitz, Lightspeed Ventures and a number of other firms.

It is not clear exactly what regulatory agency is putting pressure on Basis. Nor is it clear the exact reason why regulators have a problem with their business model or token project. Basis is communicating plans on the project shutdown later Wednesday evening, a person with direct knowledge of the situation told The Block.

Even as a bear market gripped the market for cryptocurrencies in 2018, so-called stablecoins — which aim to maintain a pegged value — have become a darling of the market this year. At the same time, the largest stablecoin, Tether, has drawn scrutiny from market participants for not actually being backed 1 for 1 by USD. Tether shares executive management with Bitfinex, the cryptocurrency exchange. In recent months, cryptocurrency exchange-operators Paxos, Circle, Gemini and others have launched their own stablecoins.

Writing for CoinDesk, Phillippe Bekhazi, CEO of XBTO Group, predicted 2019 would be the year of stable coins. “They can also be used as a mechanism to move value around in stable terms, and technically even for payments, although the speed of the underlying blockchain may be a limiting factor for time-sensitive transactions, for the time being.”

Multiple sources tell The Block that the team is one of the most accomplished that they have worked with in their career, and that they would work with them again. One large Basis investor said “this is an extraordinarily talented team with an extremely ambitious vision tackling a very difficult problem. He would neither confirm nor deny the rumors of a Basis shutdown, but he continued “our respect for this team is as high as it has ever been.”

The Basis algorithmic model was complex. As described in coverage at its introduction:

To regulate the supply of its tokens, the basecoin protocol itself is made aware of the market capitalization of its cryptocurrency, the demand for the coin and the number of coins in circulation. Further – as the different tokens are used to offer different incentives – they seek to naturally create an equilibrium that keeps the price stable.

The first – basecoin – is the cryptocurrency that powers the system. Pegged 1-to-1 with the value of the U.S. dollar, it serves as the most user-facing of the three tokens, in that it’s the one exchange traders and other users would interact most directly with.

The second and third tokens, “base bonds” and “base shares,” are those that underpin basecoin. Base bonds are tokens to be auctioned off programmatically by the blockchain when supply needs to be reduced, and these will expire within a time frame to encourage redemption.

While hailed as revolutionary by a who’s who of top technology and cryptocurrency investors and experts, the algorithmic model proved impossible to implement within the context of the U.S. financial regulatory environment. In the case of Basis, what many viewed as some of the most innovative mathematics in the world applied to money was no match for the US government.

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Kepler Technologies Crypto Trading Terminal Kattana Simplifies Trading with an Access to Multiple Crypto Exchanges and Covering All Crypto Traders’ Flow in One App

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Cryptocurrency Exchanges

Kepler Technologies GmbH, a software product company launched by the founders of TaaS fund, announces the beta version of Kattana, the first desktop-based trading terminal allowing users to trade blockchain assets through one app on multiple exchanges and offers a complete range of tools for professional trading, from market analysis to measuring trading performance. Unlike existing solutions, Kattana has a fully customizable interface and offers tools that cover the whole workflow of a trader.

Currently, cryptocurrency markets are highly fragmented in terms of trading volumes and pairs availability. On the other hand, crypto traders rely on the broad range of tools for analyzing charts, executing trades and measuring their trading performance. This means inefficiency in terms of time and money spent by traders. Kattana aims to solve this problem by allowing traders to focus on actual trading and making profits instead of hassling around various exchanges and tools.

Trading

As of this writing, Kattana supports 3 major crypto exchanges: Binance, Bittrex and HitBTC.

Kattana offers some distinctive features that allow crypto-traders to:

Tailor workspace layouts to their individual trading workflow and goals for an efficient trading experience.

Evaluate their asset positions in realtime to gain better understanding of the results each of their trades yields.

Perform multiple time frame analysis easily inside market scanner to get the grasp of a broader market perspective.

Assess what results their trades bring as compared to a benchmark index (alpha) and make wiser trading decisions in the future.

Keep track of their market exposure by asset and trading venue in realtime to improve the execution of their risk management strategy.

To start trading through Kattana, a user must have an account on at least one of the abovementioned exchanges with the sufficient balance available there. In addition, a user needs to generate API keys with the permission for trading.

As regards to security, all API keys are encrypted and stored on your device only. The application does not have the access to even a part of your key and does not store it on a server. The user can permanently revoke exchange connection from Kattana at any time by just deleting their keys in the profile section.

As Bohdan Kit, a Product Lead of Kattana team has said: “Having access to one of the most successful trading teams on the market at TaaS Fund, we were able to combine the best trading practices and apply them in the process of product development. So, Kattana is made by traders for traders. Our ultimate mission is to help crypto-traders stay profitable in the long-run and improve their performance. Kattana is built to provide tools you need to achieve this”.

In the nearest future, the team plans on connecting all major cryptocurrency exchanges to Kattana and improve functionality of the existing product features.

To try Kattana’s beta go to Kattana website and download it

About Kattana:

Kattana is a professional trading terminal for blockchain assets, powered by Kepler Technologies, a software company specializing in building solutions for cryptocurrency traders and investors. Our mission is to bridge the gap between users and digital currency markets by providing state-of-the-art technologies for the financial system of tomorrow.

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3DCoin is now listed on the p2pb2b exchange

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With the exceptional achievement of reaching the worlds top 5 in terms of masternode count even before the market started, the highest crypto-growth rate in history. 3DCoin now joined the European exchange p2pb2b.io on x December 2018.

P2pb2b.io is a very professionally ran exchange, it was a great choice for its low fees, excellent support service, and an interesting referral program that leads to even further savings on fees.

Belonging to the Districts Project ecosystem, 3DCoin represents, according to its founder, Zain, “the greatest leap forward in the adoption of the blockchain technology”, this is due to its original proof of service consensus protocol that immunizes it against most of attacks without the energy or staking requirements of older ones, and its advanced scripting that allows the 3DCoin blockchain to be the support of entire decentralized applications accessed both on the Districts 3D world or any other platform, while making all transactions instantaneous and programmable.

3DCoin

Initiated by the Blockchain Technology LLC, located in Dubai, mid 2016, the Districts Project swiftly gathered around itself many enthusiastic investors then successfully entered the ICO phase leading to the creation of 62 million 3DCoin, for a maximum supply of 85 million, the main net was launched in April 2018, followed by many updates in the track of the development roadmap.

It is the official currency of the Districts 3D VR world, which is meant to be a free space for business, education, and entertainment; contents existing as a decentralized application hosted and ran by a set of specialized nodes (Pulse, Prime), all made by the users.

Statistics show that the 3DCoin network is backed-up by more than 3100 masternodes demonstrating the solidity of the project and the trust that the community puts on the development team. Masternodes are central to the consensus protocol and will permanently replace miners in block creation.

3DCoin, and the Districts Project in general, aims at democratizing online entrepreneurship opening the opportunity for the largest numbers to create and run their DApp businesses, by offering intuitive tools that simplify the creation DApp and smart contracts.

To learn more, please visit: https://3dcoin.io/

Telegram channel: https://t.me/Project_Districts

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Kenneth Rogoff: Cryptocurrencies are Like Lottery Tickets that Might Pay off in Future

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Bitcoin Price

With the price of bitcoin down 80% from its peak a year ago, and the larger cryptocurrency market in systemic collapse, has “peak crypto” come and gone? Perhaps, but don’t expect to see true believers lining up to have their cryptocurrency tattoos removed just yet.

At a recent conference I attended, the overwhelming sentiment was that market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10tn (£4-8tn). For those who watched the price of bitcoin go from $13 in December 2012 to roughly $4,000 today, this year’s drop from $20,000 was no reason to panic.

It is tempting to say, “Of course the price is collapsing.” Regulators are gradually waking up to the fact that they cannot countenance large expensive-to-trace transaction technologies that facilitate tax evasion and criminal activity. At the same time, central banks from Sweden to China are realising that they, too, can issue digital currencies. As I emphasised in my 2016 book on the past, present, and future of currency, when it comes to new forms of money, the private sector may innovate, but in due time the government regulates and appropriates.

But as I also pointed out back then, just because the long-term value of bitcoin is more likely to be $100 than $100,000 does not necessarily mean that it definitely should be worth zero. The right way to think about cryptocurrency coins is as lottery tickets that pay off in a dystopian future where they are used in rogue and failed states, or perhaps in countries where citizens have already lost all semblance of privacy. It is no coincidence that dysfunctional Venezuela is the first issuer of a state-backed cryptocurrency (the “petro”).

The ultimate obstacle for any cryptocurrency is that eventually there has to be a way to buy a range of goods and services beyond illicit drugs and hit men. And if governments ever make it illegal to use coins in retail stores and banks, their value must ultimately collapse.

Many crypto-evangelists insist that bitcoin is “digital gold,” in part because the long-term supply is algorithmically capped at 21 million. But this is nutty. For one thing, unlike gold – which has always had other purposes and today is employed widely in new technologies from iPhones to spacecraft – bitcoin has no alternative use. And even if bitcoiners manage to find a way to lower the phenomenal energy cost of verifying transactions, the very nature of decentralised ledger systems makes them vastly less efficient than systems with a trusted central party like a central bank. Take away near-anonymity and no one will want to use it; keep it and advanced-economy governments will not tolerate it.

The evangelists dismiss such concerns: bitcoin can still be incredibly valuable as long as enough people perceive it as digital gold. After all, they argue, money is a social convention. But economists (including me) who have worked on this kind of problem for five decades have found that price bubbles surrounding intrinsically worthless assets must eventually burst. The prices of assets that do have real underlying value cannot deviate arbitrarily far from historical benchmarks. And government-issued money is hardly a pure social convention; governments pay employees and suppliers, and demand tax payments in fiat currency.

But it is too soon to say how the new world of digital currencies will play out. Central banks will get into the game (their reserves are already a form of wholesale digital currency), but that is not the end of the story. US Treasury Direct, for example, already offers retail customers an extremely low-cost way to hold very short-term Treasury debt for amounts as little as $100, tradable to others in the system. Still, heavy security makes the system relatively cumbersome to use, and just maybe governments might adopt one of today’s private digital technologies.

For the moment, the real question is if and when global regulation will stamp out privately constructed systems that are expensive for governments to trace and monitor. Any single large advanced economy foolish enough to try to embrace cryptocurrencies, as Japan did last year, risks becoming a global destination for money-laundering. (Japan’s subsequent moves to distance itself from cryptocurrencies were perhaps one cause of this year’s gyrations.) In the end, advanced economies will surely coordinate on cryptocurrency regulation, as they have on other measures to prevent money laundering and tax evasion.

But that leaves out a lot of disgruntled players. After all, many today – including Cuba, Iran, Libya, North Korea, Somalia, Syria, and Russia – are labouring under US financial sanctions. Their governments will not necessarily care about global externalities if they encourage cryptocurrencies that might have value as long as they are used somewhere.

So, while we shouldn’t be surprised by this year’s cryptocurrency price bust, the price of these coins is not necessarily zero. Like lottery tickets, there is a high probability that they are worthless. There is also an extremely small outside chance that they will be worth a great deal someday, for reasons that currently are difficult to anticipate.

Kenneth Rogoff is professor of economics and public policy at Harvard University. He was the IMF’s chief economist from 2001-03.

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Crypto Diehards Say Slump Is ‘Bump in the Road’ Before Growth

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The future of cryptocurrencies will entail greater regulation, more involvement by large institutions, lower volatility and greater integration with traditional assets.

That’s according to panelists at the Bloomberg Crypto Summit held in London on Friday. The summit convened at the end of the bloodiest year yet for the nascent crypto market, in which more than $700 billion has been lost, to assess the damage and look ahead to 2019.

While no one forecast an immediate rebound in crypto prices — Bitcoin has lost about 80 percent of its value this year — they cast the current downturn as more like growing pains than rigor mortis. In fact two areas of growth for the industry will come from low-volatility tokens known as stable coins and so-called security tokens, digital contracts that represent ownership of assets such as real estate or stocks.

“I don’t regard this as an existential crisis, I just regard it as a bump in the road and institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems,” James Bevan, chief investment officer at CCLA Investment Management, said on a panel.

One of the hottest crazes in the world of crypto this year, stable coins, still has plenty of room to run said Lewis Fellas, chief investment officer at crypto fund Bletchley Park Asset Management. While some estimates put the number of projects in development at as many as 120 we are only in the early innings of the proliferation, Fellas said.

“I think we’re just getting started,” Fellas said. “I can see a huge expansion.”

However the market develops, regulation will be a constant and growing feature of the digital assets world in 2019. That could be good news for entrepreneurs and business owners wanting governments to confer legitimacy on an industry rife with scams and manipulation.

Read More: Crypto Crash Is Causing Startups to Shutter Operations

It could also pose challenges if different jurisdictions adhere to lower standards than others, especially if that’s smaller countries that have been proactively promoting themselves as a destination for crypto businesses, said Ryan Radloff, chief executive officer of CoinShares.

Still, it’s a beneficial to get the wheels in motion for crypto regulations so the industry can learn from potential mistakes, said Marieke Flament, global chief marketing officer at Circle Internet Financial Ltd.

“It’s good to see some larger countries step through and show the route, but I would not discredit the work that others are doing, because if you have no one starting then everyone is waiting,” said Flament.

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Bitcoin Cash Is Now Available on Gemini

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Gemini to announce support for Bitcoin Cash trading and custody on Gemini. Beginning Saturday, December 8th at 9:30am ET you will be able to deposit Bitcoin Cash into your Gemini account. Trading will begin on Monday, December 10th at 1pm ET. Bitcoin Cash (BCH) is the fifth digital asset available on the Gemini platform, joining Bitcoin, Ether, Litecoin, and Zcash. As such, Gemini will be offering the following new trading pairs and services:

Bitcoin Cash, a fork of the Bitcoin network, was recently forked into two distinct networks and blockchains: Bitcoin ABC and Bitcoin SV. At this time, Gemini will only be providing support for the Bitcoin ABC network and Gemini will be referring to it as Bitcoin Cash with ticker: BCH. Gemini have added replay protection to all BCH withdrawals from the Gemini platform to ensure transactions are only valid on the Bitcoin ABC blockchain. Any cryptocurrency sent to Gemini over a blockchain that Gemini do not support, such as Bitcoin SV (BSV), will be invalid and irrecoverable. Geminie are continuing to evaluate Bitcoin SV over the coming weeks or months, and Gemini may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.

Bitcoin Cash seeks to build on the goal of the original Bitcoin and become an electronic cash system, similar to other payment methods such as debit and credit cards. Their roadmap includes changes such as adjustable blocksize caps, canonical transaction ordering, and new operating codes, which lay the groundwork for further transaction throughput enhancements.

Gemini have worked closely with the New York State Department of Financial Services (NYSDFS) to obtain approval to offer Bitcoin Cash trading and custody services for our customers, and we are excited to add this cryptocurrency to the Gemini platform — the world’s most regulated cryptocurrency exchange and custodian. Gemini are proud to provide our customers with a safe, secure, and compliant method to buy, sell, and store cryptocurrency as Gemini build the future of money.

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US Law: Crypto is Money, Property, a Commodity, and a Security, all at the Same Time

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Secure Token

Although various authorities in the US have repeatedly claimed that they do not wish to over-regulate cryptoassets or to stifle innovation in the space, overlapping regulations produced by a multitude of distinct agencies with different missions and priorities have produced a confusing mix of classifications and requirements. At the federal level alone, the Internal Revenue Service (IRS), the Department of Treasury through its Financial Crimes Enforcement Network (FinCEN), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC), all impose requirements on the issuance, sale, and/or exchange of cryptoassets (also referred to as ‘crypto’).

The IRS regulates crypto as property, imposing record-keeping and reporting requirements on purchasers and denying owners the benefits of treating cryptocurrencies as ‘currencies’, even though FinCEN regulates businesses involved in the exchange of crypto as ‘money’ exchangers. Although the CFTC treats all crypto as commodities, and vigorously pursues enforcement actions when it sees fraud in connection with transactions involving crypto, the SEC simultaneously regulates the issuance of new cryptoassets as securities. In this way, a single cryptoasset is often regarded simultaneously as money, property, a commodity, and a security.

The problems posed by this approach relate to the extensive regulations imposed by each agency. FinCEN, for example, requires businesses involved in the exchange of crypto to register with it, and to comply with rigorous anti-money laundering and know your customer requirements. The obligation to make suspicious activity reports can also be overwhelming, and as Ripple can attest, the penalties even for non-criminal violations of these requirements can be substantial. At the same time, when cryptoassets that are regulated by FinCEN are issued or sold, the SEC is likely to impose extensive disclosure obligations in connection either with registration as a security or complying with an exemption from registration under federal law. Many of the available exemptions limit the persons to whom crypto may be issued or resold, restrict the amounts that can be raised, and/or impose extensive disclosure and sometimes on-going reporting requirements. The expenses associated with complying with these obligations can be prohibitive. Similarly, it is likely to be both expensive and time consuming for crypto exchanges to respond to Department of Justice subpoenas seeking information at the request of the IRS, acting to enforce the federal tax laws. Add to that the risk that the CFTC may choose to investigate and enforce what it considers to be suspicious or fraudulent behaviours, and it is easy to see why the US is not regarded as being receptive to crypto.

To further complicate matters, this is only the federal layer of regulatory oversight. Every state also has its own set of laws, and many of those may apply to crypto. For example, each state has its own securities laws, and only a small minority of states have determined that crypto should generally not be regulated under state securities laws. Similarly, states also have their own tax regimes, and again, many of those jurisdictions impose tax burdens on users of crypto. States also regulate money transmitters, often choosing to classify businesses facilitating the exchange of crypto as being subject to registration and reporting as money transmitters or as virtual currency businesses. Some states have even adopted specific and unique regulatory approaches geared towards crypto.

The current reality is that regulatory agencies in the US started with the idea that all cryptoassets are alike, relying on a very broad definition of ‘virtual currency’ originally promulgated by FinCEN and quickly adopted by the IRS. Thus, once it appears that any aspect of crypto is within a particular agency’s mission, the agency generally attempts to assert jurisdiction over all crypto. My paper suggests that a more nuanced regulatory approach would be more in line with stated goals of avoiding overregulation, while still allowing each agency room to fulfil its mission.

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R3 and Ripple Play Nice as New Corda App Supports XRP

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Distributed ledger technology outfit R3 has launched a universal settler application to facilitate payments on its Corda platform, with rival Ripple’s XRP the first cryptocurrency to be supported.

Corda Settler is an open source CorDapp that allows payment obligations arising on the Corda Network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement.

The app will verify that the beneficiary’s account was credited with the expected payment, automatically updating the Corda ledger. In the next phase of development, the Settler will support domestic deferred net settlement and real-time gross settlement payments.

The fact that XRP is the first supported cryptocurrency marks a rapprochement between R3 and Ripple, coming a couple of months after the pair settled a legal dispute over technology contracts and joint venture agreements.

Richard Gendal Brown, CTO, R3, says: “The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together.

“While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.”

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Ripple and Three Others Form Blockchain for Europe Lobby

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Four leading global blockchain companies (EMURGO/Cardano), Fetch.AI, NEM and Ripple) have come together to found an association representing blockchain originating organisations in Europe.

Blockchain for Europe is the first credible attempt to create a unified voice for the blockchain industry at European level. The policy debate in Europe has been fragmented – with inconsistent information from those outside the blockchain sector challenging consensus within it.

The association’s goals are to foster the understanding within EU- and member state institutions on the true nature and potential of distributed ledger (DLT) and blockchain technology, and to ensure that upcoming regulation promotes and boosts innovation in Europe.

The members are organisations whose businesses originate from DLT and blockchain technology. They share a common vision of Europe becoming the global frontrunner in blockchain technology. Blockchain for Europe wants to help Europe to create smart regulation to shape the global agenda on blockchain.

The association hosted, alongside the four largest European Parliament groups, a very successful Blockchain for Europe Summit on 27 November. It brought together stakeholders from around the world, discussing issues such as governance, healthcare, transport, trade, identity, financial market infrastructure and tokens/cryptocurrencies. The debate showcased the potential benefits both for policy-makers and blockchain originating companies when they engage directly and transparently.

Dan Morgan, Head of Regulatory Relations, Europe, Ripple, said: “Ripple is delighted to be a founding member of Blockchain for Europe. This is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology.”

Kristof Van de Reck, President Europe and co-founder, NEM Foundation emphasised: “We are delighted to be one of the founding members of Blockchain for Europe. There is a lack of unbiased information especially when it comes to the open and decentralised application of the technology. By joining forces with different stakeholders that have blockchain at the core of their business, we aim to provide insights which are not tailored to the agenda of specific organisations or stakeholders.”

“This is an extraordinary opportunity to guide European policy in a field that will positively change the lives of so many people. The convergence of technologies like machine learning, AI and decentralised ledgers delivers the opportunity for a world where technology works more effectively for the benefit of us all”, commented Toby Simpson, CTO and co-founder, Fetch.AI.

Manmeet Singh, CIO, EMURGO, stated: “Within the scope of EMURGO’s mission to drive the adoption of Cardano globally, we are very keen to work with the European institutions in crafting the rules and regulations which will enable blockchain technology to thrive globally, thereby expanding the impact of our third generation blockchain Cardano, all under the leadership of EU governance.”

Blockchain for Europe looks forward to engage in conversations with policymakers, relevant industry players and academia. Together we hope to contribute to make Europe the frontrunner on blockchain technology.

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