BLOCKCHAIN NEWS – 27/11 /2018:

1. Price: In the last 24 hours BTC price fell back to $3700 but miraculously it had a biggest jump since July of a 9% and is at $4050. Billionaire venture capitalist Tim Draper a bullish advocate of bitcoin has commented that he believes bitcoin will hit $250,000 by 2022.

2. TOYS: Cryto Kaiju – a new blockchain start-up has created first crypto based toys, just in time for Xmas. The interesting bit is that each toy will be full traceable on the Ethereum blockchain using smart contracts.

3. First Govt Approved Coin: Malaysian central bank has launched Harapan coin which is the first govt approved coin in the world. One Giant Leap for Mankind.

4. South Korea: As blockchain has revolutionised the way in which information is stored, tracked and utilised, it has been of special interest to supply chain sectors and retail. Govt of South Korea today has announced a program today that will test on this digital ledger technology to “track beef through the supply chain to provide consumers with information about the source of their food”. Recently South Korea also allowed $4.4bn in their budget specifically towards research and development in blockchain, data and AI.

4. China Boom: Recent report published in China says that 41 percent of new companies that recently received funding in china were blockchain related. China is known to have a “love hate” relationship with Blockchain industry, its booming nonetheless, there are plans getting in gear by china to invest over $1bn in a blockchain fund. 

6. Bitcoin surpasses Gold: Research conducted by Oak Ridge Institute in Energy Consumption, it has been found that Bitcoin requires 17 megajoules to mine where as real gold requires only 5, which is resulting in tonnes and tonnes of extra CO2 emissions, but blockchain will surely find an answer to that soon.