Crypto News: VW, IOTA, Bitcoin ETF, ICON, Walton, Elastos, Boerse Stuttgart (6th – 12th of Aug)

Volkswagen Group confirms blockchain usage

On 8th of August Volkswagen group has confirmed that they are testing the blockchain/DAG systems. They have confirmed that crypto technology offers enormous potential for maintenance, logistics, self-driving vehicles, and specialized solutions such as tamper-proof odometers.

They have said that: “Blockchain technology also offers a lot of opportunities when it comes to self-driving vehicles. It can protect cars from hackers better than other technologies, and help with automatic payments at fueling stations or car washes,”

IOTA is their main focus (IOTA confirmed partnership with VW earlier this year) but VW is also looking into Ethereum and Bitcoin.

The usage of blockchain/DAG seems to be perfect use case for automotive industry so this is a very good news for crypto.

Boerse Stuttgart entering crypto

On 2nd of August Germany’s second largest stock exchange, Boerse Stuttgart has annouced they will be entering crypto business.

Tehy are planning to create a “multilateral regulated trading venue” for cryptocurrencies with safe storage services for digital assets. The Boerse also intends to develop a new platform for conducting Initial Coin Offerings (ICOs).

The news about these plans comes after earlier this year the exchange said it was developing a new cryptocurrency trading app called Bison which is expected to offer fee-free access to crypto investment. .

Börse Stuttgart came into existence in 1860 and are the ninght biggest exchange in Europe so this is obviously another great news for crypto after Bakkt annoucement.

SEC ETF decision delayed

On 7th of August U.S. Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF), which would have been the first financial product of its kind.

Investment firm VanEck teamed up with Solid X, a financial service company, earlier this year in a bid to launch an ETF that is backed by actual Bitcoins rather than futures. An ETF is a financial product that tracks the price of an asset and is listed on an exchange. It means that investors don’t actually have to buy the underlying asset.

ETF’s are seen as a way for institutional investors to get into cryptocurrency investing in a safer way than buying bitcoin on a crypto-asset exchange

The market reacted badly to this news even though the ETF decision was just delayed instead of not allowed.

ICON updates

On 7th of August ICON has annouced a series of updates to the project.

theloop, ICON Foundation’s main technology partner, has agreed to rebrand itself to ICONLOOP. The new brand is expected to unify and improve ICON’s brand positioning in Korea and the global market.

The ICON Foundation council members have approved its first ICX repurchase program. The new ICX repurchase program authorizes the foundation to repurchase up to $5 million of currently circulating ICX.

They will also be releasing source codes and documents to the GitHub through several releases. Additionally they announced several updates to the technology and wallets. All of that should improve ICONs position on the market and allow them to become one of the top blockchain projects.

Waltonchain updates

Waltonchain has annouced some news and updates this week. The first news is that their self developed RFID chip is ready for production. The chip is smaller than 1mm (without antennas) and costs less than $0.02 per piece

Other news is that Waltonchain CEO Mo Bing & subsidiary Silictec participated in China’s National Standardization of Blockchain Technology

The meeting was hosted by China Electronics Standardization Institute (CESI) and organized by Yi Jian Supply Chain Management Co., Ltd. Industry experts from 34 blockchain enterprises attended this meeting, including Waltonchain

Walcon also recently held a Community Live AMA in the official Telegram channel where they were replying to the quesiton held by the community.

Elastos updates

On 8th of August Elastos has annouced a major news about mass produced TV box. Elastos are trying to build a safe and reliable internet of the future. Using the blockchain they will provide the first completely safe environment on the web where decentralized applications are detached from the internet

They have annouced the TV Box which is co-produced by Elastos and its ecosystem strategic collaboration partner, Shanghai Shijiu TV. Shanghai Shijiu TV offers the world’s leading HTML5 and browser technology in the OTT and Smart TV field.

Shanghai Shijiu TV is a partner of several top TV manufacturers such as Samsung, LG, Hisense and intellectual property carriers Disney, IQIYI, and Tencent Video.

The box will have Elastos carried installed which in the future can act as another node on the carrier network making a decentralised web based on Elastos.

Not a financial advice.

Crypto News: VW, IOTA, Bitcoin ETF, ICON, Walton, Elastos, Boerse Stuttgart (6th – 12th of Aug)

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Kane Dane