TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Hedera Hashgraph launches. CoinDesk offices move to Digital Currency Group building. Deloitte tests in-house BTC payment program. Bitcoin volatility drops to new lows. Wells Fargo employs Digital Cash internal DLT platform, and Binance holds $3+ billion in crypto.
Hashgraph is Finally Launched by Hedera
HashGraph, a supposed next-generation blockchain-like alternative, has at last been launched by its parent company, Hedera. Hashgraph was already active in test mode for a small number of users, but now anyone can build decentralized apps on top of its technology. The distribution of the official token from the platform will begin as soon as it is activated, and claims of the network’s scalability and quickness (10K transactions per second) will be put to test in the coming days.
CoinDesk Moves to Parent Company DCG Building
CoinDesk will move to the same building as their parent company DCG (Digital Currency Group). Barry Silbert, CEO of DCG, has two big subsidiaries (Genesis Trading and Grayscale Investment), and declared they will “build a state-of-the-art office. The only teams we won’t meet with are the editorial staff and the content professionals who build the event agendas,” to preserve their respective news independent status. More than 9,000 square feet of space will be available.
Deloitte Launches Staff BTC Payment Test
Deloitte, one of the big four accounting firms, declared they are again allowing use of BTC to pay for food and other services within their offices. The company’s staff will now be able buy lunch with BTC using a mobile app. Laurent Collet, an advisor, said they “think it’s good to have our employees assess this new technology.” Despite this test, the company is not considering BTC in allowing customers to pay for services. Collet clarified the interest of the company is blockchain rather than in cryptocurrency payments.
Bitcoin Volatility Drops to New Lows
Asset manager Blockforce Capital found bitcoin volatility values have been surprisingly low, reaching numbers of 47%, the lowest mark since April. According to some traders, this could mean bitcoin is maturing and consolidating, with no coming changes except due to the rise of perhaps institutional investment or with halving next year. Erik Finman, a cryptocurrency entrepreneur, declared that “hype has absolutely died down around Bitcoin.”
Wells Fargo to Test Internal Digital Cash System
Wells Fargo will run a test pilot for an internal distributed ledger technology (DLT) platform called Wells Fargo Digital Cash, that will be used for internal cross-border payments. This will help the company to have near real time settlements in the totality of their banking network around the world without using third party services. Liza Frazier, head of the innovation group, explained, “We believe DLT holds promise for a variety of use cases, and we’re energized to take this significant step in applying the technology to banking.”
Binance Holds $3+ Billion in Crypto
Cryptocurrency exchange Binance is now holding more than $3 billion worth of crypto property for investors and customers. Changpeng Zhao, founder and CEO of the exchange, answered security flops in a very serious way, and that’s why the exchange has the trust of their customers, according to analysts. According to The Block, crypto exchanges hold around $12 billion in digital assets, with Binance having a quarter of it, followed by Huobi, Bitfinex, and Bittrex.
CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.