ConsenSys Acquires An Asteroid Mining Company And Bitcoin Surges To $6,500

The State of The Market — November 1, 2018BTC: $6,389.15 (1.04%)ETH: $199.56 (+1.14%)XRP: $0.4515 (+2.28%)

After a few days of market stability, Bitcoin jumped to $6,500, gaining $200 in just 10 minutes today. However, over the next hour, the price dropped back below $6,400. With most cryptocurrencies in green today, the market cap also went up by $3.5 Billion to $205.5 Billion.

In other news, the Big Four accounting firm Ernst & Young has announced a new tool to enable private transactions on the Ethereum blockchain network. The company said its “EY Ops Chain Public Edition” prototype is the first implementation of zero-knowledge proof (ZKP) technology for Ethereum. Also, MetaMask released a mobile app at the Ethereum Foundation’s Devcon 4 event. Until now, MetaMask was only available exclusively to computers as a browser extension.

1) ConsenSys, the Ethereum-based venture studio has acquired space venture Planetary Resources. Planetary Resources, launched in 2012, focuses on the mining of asteroids. According to an official announcement by Planetary Resources, the acquisition was an asset-purchase transaction. Following the taking over of the firm, the CEO of the company Chris Lewicki and Brian Israel, the general counsel will join ConsenSys. The terms of the acquisition were not disclosed. Joe Lubin, a ConsenSys founder, said that he admired the record and talent of Planetary Resources. This acquisition will see ConsenSys venturing to space initiatives for the first time. (Read More)

2) American banking giant JPMorgan has announced its plans to tokenize gold on Quorum blockchain. Quorum is an Ethereum-based private blockchain network built by JPMorgan. It was built to replace the traditional legacy systems for intra-bank payment records. However, JPMorgan has now announced that gold bars will also be tokenized on the same platform, giving new trading opportunities to its customers. The company added that gold bars can be tracked from mine to endpoint on blockchain to ensure socially responsible mining. (Read More)

3) The Arbitration Center at Russian Union of Industrialists and Entrepreneurs (RSPP) has announced that it will create a new board to resolve issues related to “digital economy,” including cryptocurrencies. It will hear all cases regarding cryptocurrencies, ICOs, blockchain, and smart contracts. RSPP expects the number of such cases will increase up to 40 times from 2020–2025. The framework for the new chamber is ready, and arbitrators have been hired. With Russian courts reeling to get a grip on crypto-related cases, RSPP believes the creation of an independent body for arbitration was necessary. (Read More)

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