Trader’s Journal #11

News
13/05/2019
1. One of the creators of Pinterest launched the blockchain platform of digital art

Blockchain platform for the sale of digital art of MakersPlace, created by the chief engineer of Pinterest Yash Nelapati, has attracted $2 million. Venture capital fund “Uncork Capital” with the participation of Facebook, Coinbase, Pinterest and other investors headed the round.

MakersPlace is a blockchain-based platform, allowing artists to create and sell unique visual content. It offers tools for establishing authorship of works, determining their authenticity and sales, as well as distributing at similar trading platforms.

The photos, drawings, pixel graphics, and 3D works are located on the shop-windows of “MakersPlace.” They can be purchased online and with the use of Ethereum tokens (ETH).

In its blog, the company also announced a public launch of “MakersPlace,” where buyers can collect works, share them, and invest in digital art.

2. Tobacco giant “Philip Morris” creates a “public” blockchain

According to one of the leaders, the tobacco giant “Philip Morris International” works on “public blockchain,” but not in the usual sense of the word.

“We want to create a public blockchain”, — stated Nitin Manoharan, the global head of architecture and technology innovation “Philip Morris” at the London exhibition “Blockchain Expo.”

In particular, according to Manoharan, a multinational company from New York will use this technology to track excise stamps on cigarette boxes. Though it may seem prosaic, he tells that these pieces of paper cost money, i.e., are valuable (they cost about $5.50 per pack). They are stuck manually and easy to fake (usually, scammers use high-resolution photocopier), which costs industry and governments 100 million dollars a year.

3. The bank “Societe Generale” has issued $112 million stocks on Ethereum blockchain

French business conglomerate “Societe Generale Group” have issued bonds costing $112 million by means of security tokens on a public blockchain Ethereum.

A funding commitment token is provided with specific assets and rests on the balance sheet of the emitter. The agency “Moody’s Investors Service” reported that the conglomerate has released virtual assets for itself since the external investors were absent.

Five-year maturity bonds provide for the possibility of extension for twelve months. The principle of “equal treatment” ensures that in case of bankruptcy of the companies, their holders will receive partial sums equality with other creditors.

Societe Generale is sure that the new standard will help to reduce costs, increase transparency and reduce the likelihood of emission errors caused by complexity and a large number of participants.

4. Will India completely ban cryptocurrency? Authorities have drafted a new law

If the government approves the new rules, it won’t be possible to buy, sell and issue digital money within the country. The document may enter into force in summer 2019

The Government of India has prepared a bill, which provides a total ban of cryptocurrency in the country, writes “The Economic Times” referring to a local official. Now, authorities hold inter-agency consultations, and the State commission claims that digital money is used for laundering funds and defrauding investors.

Economic and financial departments supported the proposal to ban the sale, purchase, and release of all types of cryptocurrency other than the official ones. Indian Ministry of Corporate Affairs recommended starting prosecuting individuals who use digital money for illegal purposes. New regulations may come into force in summer 2019.

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