Crypto News | NYSE Bitcoin Futures coming soon

While Wall Street is still rather cautious when it comes to cryptocurrencies, most major institutions are no longer content with waiting on the sidelines. According to anonymous sources quoted by the New York Times, Intercontinental Exchange, which owns the New York Stock Exchange, will likely be the next in line to adopt an emerging trend and launch NYSE Bitcoin futures. Last week, Goldman Sachs all but confirmed that it would offer a whole portfolio of Bitcoin options, including Bitcoin futures. NYSE Bitcoin futures seem to be a matter of time.

On the other hand, in a lengthy blog post on May 7, Changpeng Zhao, the outspoken CEO of Binance, said that, in spite of their high rate of failure, ICOs were still “100 times easier” than venture capital. He also said that venture capitalists often have no idea what they are investing in, since they have no startup experience and they lack the knowledge to understand modern technologies. In Zhao’s words, ICO investors are superior since they are natural learners and early adopters.

Perhaps some of these modern frontiersmen will be excited to hear that Oracle Corp., the second-largest software company in the world, plans to launch several blockchain products before August. In a May 8 announcement, the company’s president of software development, revealed that the company is working on a platform and multiple decentralized ledger-based applications. Oracle is focused on servicing governments, central banks, and large corporations at the moment. For the government of Nigeria, the company will develop a system that records customs and import duties, while for Banco de Chile, it will deliver a Hyperledger that logs inter-bank transactions.

BMW, another massive multinational corporation, is piloting its own blockchain application. As a part of Innovation Lab, BMW’s startup innovation program, the platform will monitor mileage in leased vehicles. The company that will be developing the app is called DOVU and their team will be working closely with Alphabet, the auto giant’s fleet manager. According to Alex Morris, DOVU’s head of product, the startup hopes to develop their application further, to the point where it becomes an “ubiquitous rewards system”, with the option of spending the tokens on tangible and meaningful rewards. DOVU hopes to form a partnership with smart city environments to further develop how the tokens can be earned and what they can be spent on.

On the other hand, Panos Mourdoukoutas, a notable Forbes contributor, said that Warren Buffet is wrong about Bitcoin. In spite of being a “long-time bear” and perhaps even halting Bitcoin’s march towards $10,000, Buffet still hasn’t convinced Mourdoukoutas and industry insiders like Darren Marble, the CEO of CrowdfundX. In a retort, Marble said that Buffet was clueless about the technology, adding that people who don’t even know how to write an email can’t possibly be expected to appreciate cryptocurrencies.

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Author: Max Rothstein

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