Author: Blockchain Brew

Unbankd: JP Morgan to Tokenize its Gold Bars on its Own Blockchain

JP Morgan has unveiled plans to tokenize gold bars on its blockchain Quorum. The bank is turning to blockchain to reduce the friction involved in commodities trading.

The tokenization of a commodity like gold reduces the costs and risks for traders. It also permits two parties to complete a transaction without the need of a third party, such as a broker. Quorum even allows people outside of JP Morgan to tokenize their gold.

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Unbankd: Happy 10th Birthday Bitcoin

10 years ago, Satoshi, arguably the most famous anonymous person (or group of people) ever, released a paper describing Bitcoin.

On that day – October 31st, 2008 – a beast was born that would aim to completely revolutionize the way governments, institutions, and individuals interacted with each other financially.

In celebration of Bitcoin’s 10th birthday, we’ve decided to share 3 of the most fascinating features of the world’s first cryptocurrency.

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Unbankd: Big Four Firms ‘Have No Choice’ But to Offer Crypto and Blockchain Services

Cue the Big Four
When it comes to tax audit and consulting, four firms come to mine. Nicknamed the “Big Four”, Deloitte & Touche, KPMG, PricewaterhouseCoopers (PwC), and Ernst & Young (EY) have dominated the professional services industry since the turn of the 21st century.

Now, with pressure on each firm to deliver or risk falling behind, they are beginning to focus on cryptocurrencies and blockchain.

Not only is this a smart move, it’s necessary. According to Jeanne Boillet, global assurance innovation leader at EY, moving into the blockchain and cryptocurrency space is a “no-brainer” because “[they] have no choice.”

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Unbankd: MapleChange’s Exit Scam is Terrible, But It’s Nothing New

Yesterday, MapleChange, a small Canadian-based cryptocurrency exchange, tweeted that it was “hacked” but it seems that all signs are pointing to an apparent exit scam instead.

Allegedly, hackers exploited a bug on the platform and were able to withdraw user funds amounting to almost $6 million. Though MapleChange stated it was performing an investigation, it made sure to reiterate that it could not refund any user funds and that they are “extremely sorry that it has to come to end like this.”

However, despite MapleChange’s statement, the crypto community won’t buy it.

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Unbankd: Now is Your Time, Bitcoin

Mania is over
We all remember the ludicrous run-up Bitcoin had at the end of last year. During this time investors were filled with euphoria and thought that Bitcoin would never go down again… but it did.

Almost a year later, many of the investors that were caught up in the mania are left dejected and capitulated. Bitcoin had erased about 70% of the gains it made in just a few weeks. Bitcoin was a bubble and it popped.

This doesn’t mean it’s over for Bitcoin. The crypto market has endured these sort of price movements time and time again. The price is very much based on speculation right now. We probably got ahead of ourselves last December, but since then we have been able to recalibrate.

We now have a clearer image of Bitcoin’s role in our world. The ecosystem is growing and people are no longer looking at Bitcoin as a craze.

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