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#CryptoCorner: India's IAMAI Forms #Blockchain Committee, Steve Wozniak Co-founds Blockchain-based Venture Fund EQUI Global

October 17th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App

Stocks discussed: (NasdaqGS: $AAPL)

 

Point Roberts, WA and Delta, BC - October 17, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

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#CryptoCorner: India's IAMAI Forms #Blockchain Committee, Steve Wozniak Co-founds Blockchain-based Venture Fund EQUI Global

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Crypto Corner

India's IAMAI Forms Blockchain Committee, Steve Wozniak Co-founds Blockchain-based Venture Fund EQUI Global, Gemini Dollar Breaks Peg for Brief Spike While Tether Loses Steam, Bitfinex Reportedly with Hong Kong Bank and Huobi to Launch Four Stablecoins

Stocks discussed: (NasdaqGS:AAPL)

The Internet and Mobile Association of India (IAMAI) has formed a blockchain committee, according to the Economic Times. The goal of the group is to help position blockchain technology as a means of job creation in India. The committee's chair, Tina Singh, who is Chief Digital Officer for Mahindra Finance, spoke about the potential of blockchain and the trajectory of the group.

"Blockchain is undeniably the technology of the future, slated to bring decentralization, trust and accountability into multiple areas of business. However, in order to be more effective and enter the mainstream, blockchain technology needs the intervention of government bodies, regulatory authorities and corporates. The IAMAI Blockchain Committee will focus on creating dialogue between all stakeholders; curate and create content to aid skill development and move towards creating a participative economy with the usage of blockchain."

Steve Wozniak, the co-founder of Apple (NasdaqGS:AAPL), was announced via Medium as the co-founder of EQUI Global. EQUI Global is a venture capital fund that utilizes blockchain technology. Wozniak spoke of the progress the venture has already made and its potential.

"We've already got over 20 businesses that we are looking at and we haven't even officially launched yet. It's going to be very exciting. Ultimately, our mission is to seek, support and fund the blockchain and tech stars of tomorrow. EQUI Global is a game-changer".

Crypto exchange Gemini's dollar-pegged Gemini Dollar (GUSD) broke its peg with the US dollar in a big way yesterday. The stablecoin reached as high as $1.19 USD Tuesday after an initial break with its peg on Monday, when it rocketed to $1.14 USD. Conversely, Tether (USDT), perhaps the best known stablecoin, sunk to an 18-month low of $0.92 USD on Sunday night. As Tether's market cap declines its circulating supply is currently 2.2 billion out of 3 billion total supply. According to data from CoinMarketCap, Gemini Dollar and Tether at press time are trading at $1.02 USD and $0.97 USD, respectively.

The Block reports that crypto exchange Bitfinex is now banking with Hong Kong-based Bank of Communications, according to "a source familiar with the matter". This comes after Bitfinex suspended fiat deposits for almost a week and were reportedly banking with HSBC through a private account through Global Trading Solutions. Bitfinex has yet to comment on the matter.

Following a similar announcement from OKEx earlier this week, crypto exchange Huobi will be listing four stablecoins. The exchange will debut deposits of TrueUSD (TUSD), USD//Coin (USDC), Paxos Standard Token (PAX) and Gemini Dollar (GUSD) on Oct 19.

Sam Mowers, Investorideas

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