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Country music star Tim McGraw collapsed on stage during a performance in Ireland. Rolling Stone magazine reports McGraw fell to his knees then sat down while performing Sunday night in Dublin. McGraw’s wife, singer Faith Hill, can be seen in a video on a fan’s Instagram page saying, “He’s been…
Bella Thorne surprised the audience at her boyfriend Mod Sun’s Minneapolis concert Friday night by coming out on stage and performing the track they co-wrote before packing on PDA for the crowd. People who were there, tell us Bella watched most of…
China’s Communist Party proposed eliminating a constitutional cap on presidential terms, solidifying signs Xi Jinping intends to cast off decades-old restraints on one-man rule and stay in power for many years to come.
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Bill Cosby seems to be stepping out in public again. The 80-year-old comic appeared Monday at the LaRose Jazz Club in Philadelphia and performed an informal set, reports USA Today . The story notes that one of those in attendance was NPR reporter Bobby Allyn, who tweeted a short video clip…
“Teen Mom 3” star Mackenzie McKee is asking for prayers for her mom after discovering her illness is much worse than they thought — she’s been diagnosed with stage 4 brain cancer … TMZ has learned. A source connected to the family tells us…
Renren, the first generation of Chinese social media, has announced its plan to start an ICO project called RR Coin. In reaction to the news, its shares spiked 13.57%.
From Renren to RR Coin
Launched in December 2005, Renren has been dubbed “The Facebook of China” with its Facebook-like features and its popularity among students in the early years. It represents one of the most important and successful “real-name registration” SNS companies in China.
Over the years Renren has seen rise of new players such as microblog platform Sina Weibo and Tencent’s mobile app Wechat. Unlike the two blooming products, Renren is losing traction in appealing to the new masses of Chinese Netizens. The only solution is constant product innovation. And the social company decided to turn its strategic attention to the blockchain industry.
According to the whitepaper released by Renren, they will develop a blockchain-based open source platform that can record user interactions and trading behavior. And the token RR Coin will be used in multiple scenarios from rewarding users who contribute content to charging for advertising.
RR Coin has 1 billion coins in total, among which 40% will be used for ICO sale, 25% for the RR Coin Foundation, 15% will be given to the team for marketing and development and the remaining 20% for business expansion. “The project is going to raise 100,000 ETH,” said a Beijing-based ICO investor. “I think it’s highly overvalued. RR Coin is more like QQ coin of Tencent that is totally centralized. They are just selling a new concept to make users active again.” But it seems that new concepts work. Renren’s stock (NYSE: RENN) spiked around 19% in reaction to the news.
Companies Continue Rebirth in Blockchain
In just a few months, China’s top dot-com companies are all making blockchain a powerful new solution across their businesses.
The fifteen-year old Xunlei Networking Techinologies（NASDAQ: XNET）started a new service that is completely divorced from its fundamentals. The company launched “Wanke coin mining” cryptocurrency project on October 12th, and its stock went from less than $ 5 per share to nearly $ 25 per share, and continued to witness a 475% gain in less than two months.
Qihoo 360, a leading antivirus software provider recently went all-in with its futures plans for the cryptocurrency and blockchain industry. On December 20th, the company launched a blockchain research center to explore how the technology can be used to improve financial services. The President of 360 Finance noted: “The research center will create a mode of ‘Blockchain Plus Finance’ that integrates distributed ledger with smart contracts, asymmetric encryption and consensus mechanisms.”
Then on Decemberr 29th, it launched a brand new website covering cryptocurrency news and price analysis. The website consists of a live cryptocurrency price chart, detailing trading volume and price change over the past 24 hours, which resembles that of coinmarketcap. At the bottom of the web page, it notes that the website copyright belongs to 360 Internet Security Center. However the website has been inaccessible since January 2nd.
Do you think these top Internet giants will pose a threat to small-sized blockchain startups? Leave your comments below.
Images via Shutterstock, RenRen.com
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French Finance Minister Bruno Le Maire announced on Sunday December 17th that the next Group of 20 (G20) meeting would include discussion about how to regulate the world’s most popular cryptocurrency, bitcoin. The digital asset hasn’t ceased in making news all year, and European politicians appear more concerned in direct proportion to its price increase, as shown by the EU legislative body urging strict compliance laws upon coin exchanges this week. The G20 establishing regulatory frameworks, however, would spread across the world and have enormous impact.
A G20 Discussion All Together on the Question of Bitcoin
Speaking to La Chaîne Info (LCI), French Finance Minister Bruno Le Maire declared: “I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of bitcoin.”
The G20 includes central bankers and leaders from 19 countries and the European Union, spanning the entire globe: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom, and the United States.
“There is evidently a risk of speculation,” Mr. Le Maire continued. “We need to consider and examine this and see how…with all the other G20 members we can regulate bitcoin.”
That bitcoin would make it into the agenda is nothing short of jaw-dropping. G20 nations soak up more than eighty cents on every economic dollar around the world in terms of trade and productivity.
Mr. Le Maire was wrapping his session at the One Planet Summit in Boulogne-Billancourt this week. The week prior, the Finance Minister seemed to welcome bitcoin and its undergirding technology, blockchain. “The use of this new technology will allow fintech firms and other financial actors to develop new ways of trading securities that are faster, cheaper, more transparent and safer,” he said, referencing new rules to allow for trading unlisted securities. These would add “another asset for Paris’ attractiveness as a financial center” he was quoted as saying.
A Delicate Tango
Indeed the Macron government has largely been viewed as neoliberal, reordering France’s clunky and notorious bureaucracies toward less regulation.
The first scheduled calendar meetings at the Argentina G20 in April are of its Development Working Group in Buenos Aires, April 10th, 2018. Priorities announced for the gathering include, “the future of work and what this means for education, infrastructure for development, and a sustainable food future,” its website reads.
In anticipation of the meetings, Argentine President Mauricio Macri explained, “Technology is quickening productivity at an unprecedented rate, which presents both opportunities and challenges. We want to ensure that adopting technological advances does not lead to economic exclusion or other negative side effects.”
Bitcoin investor Tim Draper held a meeting with President Macri and an advisor in late November of this year. By all accounts, Mr. Macri seemed at least receptive to the idea of cryptocurrencies. That same month, the country’s Rofex exchange announced it would be offering bitcoin futures.
What do you expect will be the G20 outcome regarding bitcoin? Tell us in the comments.
Images via Pixabay, WikiCommons, G20.
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The vast majority of global stock markets in 2017 have surged either to fresh records or multiyear highs, one of the broadest rallies in years that investors say is a result of the increasingly synchronized global economic recovery.
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Workers at a half-dozen Amazon distribution centers in Germany and one in Italy walked off the job Friday to demand better wages from the American online giant in a protest timed to coincide with Black Friday.
In Germany, Ver.di union spokesman Thomas Voss said some 2,500 workers were on strike…
China’s president is likely to emerge from a Communist Party congress that starts Wednesday with all of the allies and authority he needs to monopolize decision making for the next five years. But will he step down in 2022?
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