Social media giant will no longer allow ad platform to be used to promote “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.” On Tuesday, Jan. 30, social media giant Facebook announced in a blog post that it would be banning all advertising related to cryptocurrencies.
Tether, a cryptocurrency that claims to be backed by hard cash, is in the spotlight after reports that the Commodity Futures Trading Commission last month subpoenaed documents from the digital-asset platform. Tether and its sister company Bitfinex have been raising eyebrows within the digital-currency community, as critics question the accuracy behind assertions that every tether is supported by actual bank reserves.
After gaining some recognition on Wall Street, cryptocurrencies have attracted the interest of asset rating agencies. Last week, Florida-based Weiss Ratings released a report that assigned grades to dozens of cryptocurrencies based on a number of metrics, like risk, technological innovation, and other fundamentals. There were a couple of surprises to the report. One of them was that none of the cryptocurrencies rated received an “A.” Another surprise was that Ethereum received a higher grade than Bitcoin and Ripple.
The report, named Blockchain: Market shares, strategies and forecasts, worldwide 2018-2024, argues that with the digital economy becoming increasingly integral to the future of firms across all industries, blockchain is likely to continue its strong growth throughout the next few years as a key emerging technology.
Blockchain was first implemented in 2009 as a core component of Bitcoin, serving as a public ledger for all transactions. A distributed ledger database is shared and continuously added to with new records; these are all marked with a timestamp and connected to the preceding block. With each new record or block added to the chain, information placed within becomes immutable – it cannot be altered or removed.
Doctors from every specialty are feeling more burned out than ever. Among emergency physicians, for instance, over 60% admit to feeling burned out, and many have considered leaving medicine altogether. With a shortage of physicians, there are fewer providers every year to meet growing patient demands. Yet, it isn’t just the thinning of their ranks that is wearing physicians down; it’s also the fact that they spend two-thirds of their time doing paperwork rather than actually caring for patients. For every hour they spend with a patient, physicians have to spend two more completing paperwork and working on electronic health records, reviewing test results, logging information, writing medication orders and other tasks.
“We look at Ethereum like AOL or Myspace.” That’s how Mobius Network co-founder and CEO David Gobaud explains why his startup ran its initial coin offering (ICO) on the Stellar network instead of Ethereum, the most popular blockchain for token sales. The comment underscores the growing interest in some corners of the crypto community for faster and cheaper payment rails as Ethereum, like bitcoin, struggles to scale.
Herkimer resident David Gotman was able to turn a $500 investment in cryptocurrency into $6,000. Others have made more — and less. Gotman, 19, began researching cryptocurrency almost five years ago. Then, a little more than two years ago — after researching the legality of the currency, among other things — he dove in and has not looked back. “Cryptocurrency is the modern stock market,” he said. Gotman said investing in cryptocurrency is easy. He said all a person needs is knowledge of the currency and a cryptocurrency wallet that links to your bank account.
Although the broader financial world has been slow to recognize cryptocurrencies as a viable area of investment, that hasn’t stopped some hedge fund managers from making moves in that direction. In fact, as cryptocurrency interest among everyday investors has surged over the past year, the number of cryptocurrency-focused hedge funds launched has also climbed. (See also: Cryptocurrency Hedge Funds Gained More Than 1,000% In 2017.)
When the mystical Satoshi Nakamoto implemented the first blockchain a decade ago, they probably didn’t imagine it would explode into the disruptive force it is today. Initially used to support the first cryptocurrency, bitcoin, various iterations of the blockchain are increasingly finding their way into industries outside of fintech, bringing unprecedented change to these industries. The blockchain, a decentralized ledger that permanently records transactions on its network, has provided the building blocks for many of the disruptive trends we’ve seen in recent years. It has seen the rise of dozens of cryptocurrencies in addition to bitcoin, some of which have had a wild rally in 2017, including bitcoin itself.