Top Asia Crypto News from Aug 29th- Sep 1st

September 5th 2018 launches PoS Ethereum mining; LINE’s new cryptocurrency; Baidu’s new blockchain; Korea Province to release cryptocurrencies

What Crypto insiders are reading.

🎊 As some folks already know, we are bringing you a special podcast episode today, with guests Eric Ly (left), co-founder of LinkedIn and now CEO of Hub Token, and Ryan Selkis (right), CEO, and co-founder of Check it out in the iTunes store! 🎊

Both Eric and Ryan have spent a significant amount of time in the technology and blockchain space. They also both recognize the importance of doing business and forming relationships in Asia as they try to build out their companies in the blockchain space.

In this special episode podcast, Eric and Ryan talk about their recent Asia trips, as well as their learnings in China and Korea. They also highlight the value of forming business partnerships and an investor base in the East.

🤔Timestamps and discussion points in the podcast

1:35- Introduction to Eric Ly and Ryan Selkis
2:45- Why Asia? Eric and Ryan’s initial thoughts on the region
8:30 — The highlight of their recent trips to China and Korea and their observations
11:17- Thoughts on Korea as a market
15:55- Aisa projects look more centralized from the getgo 
22:07- Investor differences between West and East, and how to approach them
28:00- How to think globally as entrepreneurs in Crypto
30:05- How to get the most out of your trips in Asia

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🌟 Top News in Asia from Wednesday to Friday

Baidu has injected US$7.3 million to set up a blockchain subsidiary Dulian Internet Technology in Hainan, China.

Japanese social messaging giant LINE has launched its own cryptocurrency and in-house blockchain.

Geyongbuk, a province on the eastern coast of South Korea, has announced efforts to replace its local currencies with a state-issued cryptocurrency.

Reserve Bank of India has published its annual report, and it specifically talks about “the need to explore a digital currency for the country.

Bitmain’s Mining Pool is launching a PoS Ethereum mining operation.

Japanese e-commerce giant Rakuten, market capitalization of over $12.5 billion, has acquired domestic crypto exchange, Everybody’s Bitcoin, for $2.4 million.

Thailand is becoming a critical country for blockchain.

A leaked Bitmain Pre-IPO document shows a $299 million loss in BCH crash.

💰 Deals

Huobi Group acquired 199 million shares of the Pantronics Holding Ltd at $0.35 per share, through its two subsidiaries — Huobi Universal and Huobi Capital. | Full filing in Chinese here

Lambda, a Singapore-based decentralized infrastructure startup that provides unlimited data storage on the blockchain and for the Internet of Things, received an investment from FBG Capital.

$650 million Private Equity Group ‘PIR Equities’ is investing $50m inblockchain.

💰 Coin and Token News

People’s Insurance Company of China (PICC), one of the largest insurer globally with $126 billion total assets, is opting to embrace blockchain technology with the help of DNV GL and VeChain.

CertiK AutoScan Engine has been released to enterprises and smart contract startups.

Interview with ICON CEO on ICON’s long-term goals and open culture, along with insights regarding startup spirit and regulations in Korea.

💸 Exchange News

Huobi Group has teamed up with Singapore-based National Trading Union Congress Learning Hub to introduce a series of new courses on blockchain for cryptocurrency enthusiasts and fintech professionals in the region.

🎌 Regulation News

Japan’s National Police Agency is to fund development of new software to help track individuals behind illicit crypto transactions.

A Korean lawmaker stresses need to designate cryptocurrency special zone for ICOs.

The growing digital trend is expected to increase remittance volume in the Philippines to $42 billion by 2023 using digital currencies, wearable technologies and biometrics.

The Securities Commission of Malaysia has is reviewing LaVida Coin, a newly launched cryptocurrency by a local celebrity, to determine whether there has been a breach of securities law.

Thai regulators are reviewing six applications for ICO portals, which are expected to be approved in the fourth quarter of this year. At least one company in Thailand is already issuing a token without obtaining approval.

The head of a government watchdog in Thailand has admitted that domestic cases of cryptocurrency crime are few and far between despite calling for increased preparedness to combat it in the future.

💼 Business News, one of China’s largest e-commerce players, and Australia’s Monash University together signed a blockchain strategic cooperation agreement.

Recruitment firm Robert Walters has seen a 50 percent increase in the number of roles related to blockchain or cryptocurrencies in Asia since 2017.

Don’t Forget

For New York City-based Crypto folks, our Blockchains for Schools Mentorship Program have officially started accepting applications for mentors for the school year.

The mentees are 40 high school students from all over New York City, and each of them has gone through a rigorous interview process to make sure that they have a basic understanding of blockchain.

The program meetup will take place once a month, on a weekend, for 1.5 hours in the city. You will be matched with a mentee once you fill out this application here, it literally takes 1 minute.

We want to build something long-lasting. Help us, and help you, to build a supportive crypto community here. We look forward to seeing you at the meetup.

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