Weekly Cryptocurrency Bytes – 21st July

Blockchain technology, the underlying technology behind cryptocurrency, is phenomenal. This past week saw a new high in Bitcoin optimism from US presidential candidate, John McAfee, as well as Facebook’s Libra, related searches causing speculation. 

Blockchain Cross-chain

Neo and Ontology, are partnering to create an interoperable protocol. The protocol will result in the development of an open, global cross-chain platform which will onboard diverse projects and companies and tackle real-life applications.

China leads Libra search on Google

Following news that China has set a course to launch its own cryptocurrency, in reaction to Facebook’s Libra, wide-ranging speculation was set off. An indication of the speculation came from Google trends revealing that China topped the list of searches for ‘Libra’. 

On Weibo (China’s version of Twitter), search for “Libra will compete with Alipay and WeChat”  was the 2nd hottest search term.

Blockchain Gains More Ground

On Tuesday, the United States Senate committee on commerce, science and transportation approved the blockchain promotion act. The bill will create a regulatory framework for blockchain technology in the US, how the government will use it and what it stands to benefit from its use.

Some Blockchain in Advertising

The Joint Industry Committee for Web Standards (JICWEBS) has launched an initiative to use blockchain to increase trust and transparency in digital advertising.

The initiative will also seek to test the use of blockchain in boosting operational efficiency and return on investment (ROI) for media agencies.

The initiative has companies like McDonald’s, Nestlé and Virgin Media signed up. As well as media agencies Zenith, OMD UK and Manning Gottlieb OMD.

McAfee Optimism

Amidst the drop in Bitcoin prices last week John McAfee, founder of McAfee Associates and US presidential candidate, in a recent tweet, emphasized his prediction that the price of Bitcoin would hit $1 million by 2020.  In his words:

John McAfee is known for his ardent support of Bitcoin and his firm belief that the price of Bitcoin would go up in the coming years. 🤞that he is right.

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