Real estate tokenization moves into the big time, and XRP accounts for half the transactions in the crypto space in the last 24 hours. Let’s start the show.
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Overstock’s blockchain arm tZERO will use its technology to tokenize River Plaza, a luxury residential development in Manchester, England. In a partnership with U.K.-based real estate investment firm Alliance Investments, tZERO plans to tokenize at least $25 million worth of River Plaza on the Tezos blockchain. A 180-unit luxury residential development, River Plaza is the first project of Alliance Investments’ real estate tokenization plan to tokenize around $640 million of real estate projects across the U.K. over the next several years. The security token offering is expected to launch in Q1 2020. What is the future of Blockchain and real estate?
In recent days the National People’s Congress in China cleared a new law that will allow local authorities to start regulating all of the country’s cryptography-related activities kicking off on Jan. 1, 2020. With this new regulatory framework, the Chinese government is looking to establish a uniform standard for mainstream application of cryptographic techniques and the management of passwords and other sensitive data. Will all this forward movement by the chinese in the blockchain space, is the USA being slowly boxed out of the crypto marketplace?
Just a reminder, we have a brand new website – jump over to cryptognt.com and have a look, we have all the latest news from the world of blockchain and cryptocurrency. You can find a link to our site in the show notes below. And now, back to today’s episode.
The institutional digital asset lending firm Genesis Capital recently released its Q3 report, which shows a growing demand for cash and stablecoin lending. On Oct. 30, Genesis Capital, a spin-off of over-the-counter cryptocurrency broker Genesis Global Trading, reported that the crypto lending firm saw a sustained growth in the lending business in the third quarter of 2019, where they added $870 million in new originations, breaking the previous record of $746 million set in Q2 2019. What is the future of Genesis Capital?
Five European Union member countries have reportedly teamed up to prevent the issuance of Facebook’s stablecoin Libra. the group intends to prevent Libra from launching in Europe as well as increase pressure on Facebook and other members of the Libra Foundation to give up on the project. Eurozone diplomats and European Commission (EC) officials reportedly confirmed to Politico that the coalition is encouraging EU governments to consider banning Libra altogether. With Libra having so much push back from governments across the world, what is the future of this project?
The number of daily XRP transactions is going through the roof, nearing an all-time high of 1.70 million. According to the crypto data tracker BitInfoCharts, XRP’s daily transactions now account for more than 50% of all the cryptocurrency transactions during the last 24 hours. Ether (ETH) comes in second, while Bitcoin (BTC) and Bitcoin SV (BSV) settle for a shared third place. The last time XRP’s daily transactions were this high, the crypto markets were reveling in the middle of the famous bull run of December 2017. This does not necessarily mean another bull run is about to be triggered, but there is little insight at this stage to why this huge surge in xrp transactions has occurred. What does this flurry of activity mean for xrp, and crypto more generally? what this space.
Many thanks for tuning into today’s episode, please make sure you like share and subscribe to the show, And please remember to go check out our new website at cryptognt.com where you can find all the latest news from the world of cryptocurrency. You can find a link to the site in the show notes below. For crypto global news I’m Edward, until next time you take it easy.