Tuesday’s blockchain and crypto news, from Asia and beyond
Bitcoin prices, energy microgirds, Thai state currencies and Indonesian blockchain futures exchanges. And why kids want crypto for Christmas
Bitcoin and friends, down but not out: Just as many will be crying today over the Titanic-like sinking of their crypto portfolios, Forbes brings a more cheery crypto-market message. As Bitcoin hits levels not seen since 2017, the big boys are investing. So hold tight to your digital portfolio, or HODL, as they say. According to some, the global market for blockchain is valued at $700 million, and is expected to exceed $60 billion by 2024. That might not help many because in the here and now it is nosediving.
Korea energy giant powers up with blockchain: Kepco, Korea’s largest power provider, is using blockchain for its next-generation microgrid (MG). The initiative will look at decentralization, decarbonization and digitalization of its energy programs. Kepco is also partnering with Mitsubishi UFJ Bank, IT firm Nihon Unisys, and the University of Tokyo on using blockchain to distribute electricity. Using microgrids and blockchain for energy is an emerging industry trend that helps small providers manage their systems and Kepco says its program will help keep such supply stable.
Thai digital currency still years away: Thailand is most certainly not going to have its own state cryptocurrency. Yet, local media report that Veerathai Santiprabhob, Governor of the Bank of Thailand, says this would not happen for at least “the next three to five years”. The announcement came after reports in September said the country would be launching a new virtual currency called the Central Bank Digital Currency in 2019.
Indonesia to have blockchain futures exchange?: The Jakarta Futures Exchange (JFX) is creating a blockchain-powered exchange in Indonesia with Australian-based Kinesis Money and Allocated Bullion Exchange (ABX), according to Tech Wire Asia. “It’s increasingly become clear to us that the benefits of distributed ledger technology or ‘blockchain’ will unlock tremendous amounts of value for Indonesia and Indonesian people,” said JFX President Stephanus Paulus Lumintang, who added that the new exchange will be using assets such as gold and silver to serve as the basis for digital currencies.
All I want for Christmas is some crypto: Christmas used to be so simple but not anymore. Now it seems kids are eschewing toys in favor of, yes indeed: cryptocurrency. A ‘Holiday 2018’ list published by American investment bank and asset management firm Piper Jaffray said while Apple was the biggest brand on the list and appeared at the top of 11.5% of teens’ Christmas wants – with the next closest brand, Gucci, making up 0.6% – what kids really want, over money or gifts, is crypto or “V-bucks”… so they can use it in the hit game Fortnite. Well, of course!