• Protestors in Hong Kong (Photo by Oscar Chan from Pexels).
    Asia & Australia,  Bitcoin

    Hong Kong’s Bitcoin spike: Foresight or fluke?

    A tremendous jump in trade volume on a small Hong Kong P2P exchange was touted as proof that Bitcoin is the new gold. But it may have just been a whale’s splash

    Bitcoin trades in Hong Kong saw a massive spike at the end of September—blowing past even the volumes seen at the height of the 2017 bubble—simultaneous to political unrest in the Chinese territory.     With nearly $12.3 million HKD (equivalent to $1.5 million in USD) traded in the week ending September 28 according to charts on peer-to-peer trading site Coin.dance’s LocalBitcoins, it was hard not to see a connection with escalating protests, anti-Chinese bank sentiment, and vandalism that recently caused ATMs to run dry, and panic-buying reported at supermarkets on October 7. It’s especially interesting considering the same Bitcoin (BTC) volume jump was seen, on a smaller scale, during the last…

  • It's all rainbows and alpacas for eToro CEO Yoni Assia at the Ethereal Summit in Tel Aviv, September 15, 2019 (photo by Molly Jane Zuckerman for Modern Consensus).
    Technology

    How blockchain will ‘eat’ finance: An interview with eToro CEO Yoni Assia

    Modern Consensus sat down with Yoni Assia, the CEO and founder of social trading network eToro, at this weekend’s Ethereal Summit in Tel Aviv

    Yoni Assia is quite confident that traditional finance will eventually fully transition over to blockchain—in his oft-repeated words, “it's going to eat their existing financial systems.” Having begun trading at just 13 years old, the eToro CEO brought the social trading platform into the crypto space in 2010, with a further step towards adoption in the launch of the eToroX crypto exchange earlier this year.

  • Keeping money in a piggy bank won't grow it (via Pixabay).
    Cryptocurrencies

    Growing interest in tokenized assets: eToro survey

    Fractional ownership of assets like art and real estate is becoming more attractive as the recession worries grow

    In a survey of 1,000 investors who trade online, more than 80% would be interested in owning blockchain-based security tokens offering fractional ownership in small businesses and real estate, and nearly 70% percent would be interested in investing in music rights, according to social trading and brokerage company eToro.

  • Europe's fiat money (via Pixabay).
    Europe

    EU banks must get speed up blockchain investment, warn Lagarde, Bain

    The consulting giant and likely European Central Bank president say blockchain FinTech is coming fast

    European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.