China’s Best-Funded Blockchain Startup is Rebranding for Expansion

One of China’s top-funded blockchain startups, Juzhen Financials, is rebranding to reflect planned expansion into new industries.

Source

One of China’s top-funded blockchain startups, Juzhen Financials, is rebranding to reflect planned expansion into new industries.

Source

Bitcoin’s Meteoric Price Rise to the Moon Reaches $2000

priceOn May 20, 2017, the price of bitcoin reached the US$2000 line at the bitcoin exchange Bitstamp. The decentralized currency’s meteoric rise in value has captured a phenomenal $32 billion dollar market capitalization after eight tremendous years of growth. Also read: Petition Asks SEC to Clarify Rules on Bitcoin and Digital Token Assets Bitcoin Has Broken

The post Bitcoin’s Meteoric Price Rise to the Moon Reaches $2000 appeared first on Bitcoin News.

price

On May 20, 2017, the price of bitcoin reached the US$2000 line at the bitcoin exchange Bitstamp. The decentralized currency’s meteoric rise in value has captured a phenomenal $32 billion dollar market capitalization after eight tremendous years of growth.

Also read: Petition Asks SEC to Clarify Rules on Bitcoin and Digital Token Assets

Bitcoin Has Broken So Many Records in 2017 It’s Hard to Keep Track

2017 has been an unbelievable year for cryptocurrency enthusiasts as they’ve watched bitcoin cross milestone after milestone. The digital asset is becoming widely known as a strong hedge against the turbulent global economy that continues to sink further every day. Many citizens from all around the world are clearly choosing bitcoin to hedge their wealth from deteriorating and to move their money however they see fit. This can be seen in countries like China, Japan, India, Venezuela, Russia, and more.

Bitcoin Meteoric Price Rise to the Moon Breaks Past $2K
Bitcoin breaks $2000 on May 20, 2017.

Some of the momentous feats Bitcoin has reached this year include global trade volume topping over $1 billion USD worth of trades daily. Bitcoin’s hashrate has reached a whopping 4.2 exahash per second encouraged by the mining revenue that has also crossed an all-time high. The decentralized currency’s daily transaction rate is higher than ever before with over 326,000 transactions per day. Bitcoin has crushed nearly all of its records over the past four months and doesn’t seem to be slowing up.

Mainstream Media Loves Bitcoin

Mainstream media has been awfully kind to bitcoin as friendly headlines from publications like the New York Times, Bloomberg, Fortune, Time Magazine, and many others have shown bitcoin in a positive light. The articles are very different from the editorials in the past calling bitcoin doomed, dead, worthless, tulip mania, and yes even beanie babies. Now mainstream media is calling bitcoin worthy of an investor’s portfolio, a “safe haven,” “store of value,” “digital gold,” and many other kind words.

Eight Years of Great Memories Without Asking Permission

The $2000 price is just shy of two days before the infamous pizza day where a pie from Papa Johns was sold for 10,000 bitcoins ($20M USD). Furthermore many bitcoiners can still remember the days when bitcoin reached parity with the U.S. dollar, silver, and this year surpassing 1oz of solid gold. Bitcoin has been in the movies, in songs, books, television shows, and even on the Simpsons.

Bitcoin Meteoric Price Rise to the Moon Breaks Past $2K
Think bigger. $2000 bitcoin is not Moon.

Overall bitcoin has had a very memorable life over the course of its short existence of only eight years. Many people, businesses, corporations, governments and think tanks mocked bitcoin and said it would never last, but now the digital currency is stronger than ever. Bitcoin has accomplished all of this without any rulers and has allowed people the ability to do what they want with their money without asking permission.

What do you think about bitcoin’s price reaching $2000? Let us know in the comments below.


Images via Shutterstock, Reddit, Bitcoin Wisdom, and Bitcoin.com. 


The Bitcoin universe is vast. So is Bitcoin.com. Check our Wiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into price statistics or our helpful tools page.

The post Bitcoin’s Meteoric Price Rise to the Moon Reaches $2000 appeared first on Bitcoin News.

Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group

Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group

On May 12, 2017, Chinese blockchain technology leader Wanxiang Group, a conglomerate with automotive, real estate and financial services holdings, announced the launch of WanCloud, a new blockchain product under its Wanxiang Blockchain Corporation subsidiary in Shanghai.

WanCloud provides an ecosystem for open-source blockchain protocols to be localized and made easily accessible to the Chinese development community and enterprise users. Initial blockchain protocols included in the ecosystem and supported by WanCloud’s infrastructure of developers and consultants are  BlockApps, Factom and Stellar.

Part of Wanxiang’s stated goal is to drive the advancement of China’s blockchain ecosystem of developers, startups and enterprises. Speaking with Bitcoin Magazine, WanCloud CTO Haifeng Xi described WanCloud as “not just a technical platform; it’s an open innovation platform. WanCloud is essentially a bridge between [the] global blockchain development community and China. We aim to connect the world to the Chinese developer community, Chinese startups and traditional Chinese businesses.”

WanCloud is unique as an ecosystem in that it allows users to work with open-source blockchains more easily and in one place. Unlike traditional Blockchain-as-a-Service (BaaS) providers that have private networks or build on top of one public chain, WanCloud plans to continually introduce the most useful open-source platforms into the WanCloud ecosystem.

Tom Tao, vice president at Wanxiang Blockchain Corporation and head of WanCloud, told Bitcoin Magazine that he hoped to “bring as many fabrics as possible into the Chinese community and to drive interaction and even inter-chain collaboration, improving application level innovation for each participating protocol.”

David Johnston, chairman of Factom, and Jed McCaleb, CEO of Stellar, spoke with Bitcoin Magazine about why they chose to be a part of WanCloud and how it aligns with their respective companies’ goals.

“WanCloud platform is acting as a bridge between the advanced tech provided by U.S. entities and the huge market of potential users in China,” said Johnston, “providing them a more transparent and secure use case set in important areas like data management and auditing where Factom has core competencies as a platform.”

Zeen Zhang, CEO of Factom China, added, “This partnership is important for Factom China because it will make it easier for our product to reach and serve the needs of the end users in China. WanCloud is really adding value, helping us localize the platform for enterprise users and the large community of developers in China.”

Fresh off the launch of its global payments platform Lightyear, McCaleb spoke with Bitcoin Magazine about WanCloud’s benefits for Stellar’s development.

“Its an exciting development that makes it much easier for people to integrate with Stellar and will enable more experimentation … China is obviously a huge market and almost every partner that we talk to in the world asks us how they can get money either in or out of China.”

Chainbase Accelerator’s New Cohort

In addition to the launch of WanCloud, Wanxiang announced the opening of the second cohort of its Chainbase Accelerator to startups, in coordination with ICOAGE, an Initial Crypto-Token Offering platform based in Shanghai and headed by James Gong, a leading blockchain intellectual and consultant in China and CEO of ChainB. Projects accepted into Chainbase Accelerator will have the opportunity to receive technical support and consulting from WanCloud architects.

Yu Cheng, a partner at Chainbase Accelerator as well as the chief product officer at WanCloud, spoke with Bitcoin Magazine about Chainbase Accelerator and said that the first cohort was “made up of experts from traditional industries and they saw blockchain [technology] as a way to solve for problems in their industries. We are looking to bring in businesses whose applications are suited for the distributed nature of blockchain tech.” Cheng has coined the term “distributed commercial value” in China to refer to new capabilities that blockchain tech enables.

WanCloud joins a burgeoning group of blockchain subsidiaries for Wanxiang Group under Wanxiang Blockchain Corporation, including consulting and research interests Wanxiang Blockchain Business Innovation Consulting and Wanxiang Blockchain Labs, as well as Chainbase Accelerator and VC arm Fenbushi Capital.

The post Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group appeared first on Bitcoin Magazine.

Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group

On May 12, 2017, Chinese blockchain technology leader Wanxiang Group, a conglomerate with automotive, real estate and financial services holdings, announced the launch of WanCloud, a new blockchain product under its Wanxiang Blockchain Corporation subsidiary in Shanghai.

WanCloud provides an ecosystem for open-source blockchain protocols to be localized and made easily accessible to the Chinese development community and enterprise users. Initial blockchain protocols included in the ecosystem and supported by WanCloud’s infrastructure of developers and consultants are  BlockApps, Factom and Stellar.

Part of Wanxiang’s stated goal is to drive the advancement of China’s blockchain ecosystem of developers, startups and enterprises. Speaking with Bitcoin Magazine, WanCloud CTO Haifeng Xi described WanCloud as “not just a technical platform; it’s an open innovation platform. WanCloud is essentially a bridge between [the] global blockchain development community and China. We aim to connect the world to the Chinese developer community, Chinese startups and traditional Chinese businesses.”

WanCloud is unique as an ecosystem in that it allows users to work with open-source blockchains more easily and in one place. Unlike traditional Blockchain-as-a-Service (BaaS) providers that have private networks or build on top of one public chain, WanCloud plans to continually introduce the most useful open-source platforms into the WanCloud ecosystem.

Tom Tao, vice president at Wanxiang Blockchain Corporation and head of WanCloud, told Bitcoin Magazine that he hoped to “bring as many fabrics as possible into the Chinese community and to drive interaction and even inter-chain collaboration, improving application level innovation for each participating protocol.”

David Johnston, chairman of Factom, and Jed McCaleb, CEO of Stellar, spoke with Bitcoin Magazine about why they chose to be a part of WanCloud and how it aligns with their respective companies’ goals.

“WanCloud platform is acting as a bridge between the advanced tech provided by U.S. entities and the huge market of potential users in China,” said Johnston, “providing them a more transparent and secure use case set in important areas like data management and auditing where Factom has core competencies as a platform.”

Zeen Zhang, CEO of Factom China, added, “This partnership is important for Factom China because it will make it easier for our product to reach and serve the needs of the end users in China. WanCloud is really adding value, helping us localize the platform for enterprise users and the large community of developers in China.”

Fresh off the launch of its global payments platform Lightyear, McCaleb spoke with Bitcoin Magazine about WanCloud’s benefits for Stellar’s development.

“Its an exciting development that makes it much easier for people to integrate with Stellar and will enable more experimentation ... China is obviously a huge market and almost every partner that we talk to in the world asks us how they can get money either in or out of China.”

Chainbase Accelerator’s New Cohort

In addition to the launch of WanCloud, Wanxiang announced the opening of the second cohort of its Chainbase Accelerator to startups, in coordination with ICOAGE, an Initial Crypto-Token Offering platform based in Shanghai and headed by James Gong, a leading blockchain intellectual and consultant in China and CEO of ChainB. Projects accepted into Chainbase Accelerator will have the opportunity to receive technical support and consulting from WanCloud architects.

Yu Cheng, a partner at Chainbase Accelerator as well as the chief product officer at WanCloud, spoke with Bitcoin Magazine about Chainbase Accelerator and said that the first cohort was “made up of experts from traditional industries and they saw blockchain [technology] as a way to solve for problems in their industries. We are looking to bring in businesses whose applications are suited for the distributed nature of blockchain tech.” Cheng has coined the term “distributed commercial value” in China to refer to new capabilities that blockchain tech enables.

WanCloud joins a burgeoning group of blockchain subsidiaries for Wanxiang Group under Wanxiang Blockchain Corporation, including consulting and research interests Wanxiang Blockchain Business Innovation Consulting and Wanxiang Blockchain Labs, as well as Chainbase Accelerator and VC arm Fenbushi Capital.

The post Sandbox for Public Blockchain Projects Launched in China By Wanxiang Group appeared first on Bitcoin Magazine.