Blockchain Consultancy Firm Chief Hired to Help Launch Sovereign (SOV)

Francisco Memoria

The Marshall Islands, a small country in the Pacific Ocean, has recently revealed that it hired Steve Tendon, the head of blockchain consultancy firm ChainStrategies, as its cryptocurrency advisor.

Notably the country has announced last year that it’s looking to launch its own national cryptocurrency called Sovereign (SOV). Tendon is set to help it develop Sovereign, and assist its government with “the drafting, design, and issuance of their new cryptocurrency.”

Tendon is notably the founder and President of the Blockchain Malta Association, and acts as a Chief Technology Officer at Anticipay, a fintech firm. In the past, he was a Strategic Advisor to Malta’s Prime Minister, when the nation was focusing on attracting blockchain and cryptocurrency-related companies.

Its efforts worked, as it attracted some of the most prominent in the industry, including leading cryptocurrency exchanges like Binance and OKEx, which was named “crypto exchange of the year” at its cryptocurrency conference.

Tendon isn’t, however, the only notable adviser Sovereign will have. The cryptocurrency’s Chief Economist is Peter Dittus, according to a post on SOV’s Medium blog, the former Secretary General of the Bank for International Settlements.

Dittus was quoted as saying:

Steve is one of the foremost experts in blockchain technology and regulations. [He] will assist with the drafting and designing of regulations to develop a blockchain financial services economy out of the Marshall Islands.

Per the blog post, the Marshall Islands are looking to evolve “in a similar way to the Cayman Islands,” a territory that it claims incorporates “5% of the world’s hedge funds despite having a similar population to the Marshall Islands.”

Notably, as CryptoGlobe covered, the International Monetary Fund (IMF) has warned the nation not to launch the cryptocurrency as second form of legal tender (along with the USD). Per the IMF, the issuance of a decentralized cryptocurrency as a second legal tender would “increase macroeconomic and financial integrity risks, and elevate the risk of losing the last U.S. dollar correspondent banking relationship.”

Crypto Market Update: Focus on BTC, ETH, BCH, BNB, XMR, and DASH

Siamak Masnavi

This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Binance Coin (BNB), Monero (XMR), and Dash (DASH)—over the past 24-hour period.

Overall, September 17th is proving to be a bit of a mixed day, with 12 of the top 20 cryptocurrencies (by market cap) in the red at press time (around 06:25 UTC).

BTC-USD

BTC-USD 24 Hour Chart - 17 Sep 2019.png

The bad news is that are still waiting for the launch of Bakkt's physically-delivered daily and monthly Bitcoin futures contracts. So, Bitcoin is still trading mostly sideways, hovering around the $10,300 mark. The good news is that the launch is expected to take place in less than one week (i.e. on September 23), as was confirmed by this tweet that Bakkt sent out on September 16:

ETH-USD

ETH-USD 24 Hour Chart - 17 Sep 2019.png

The Ether (ETH) price continues its upward movement toward the $200 mark, up another 2.24% in the past 24-hour period (making it up 4.32% in the past 7-day period). What may have helped the Bitcoin price yesterday (September 16) is the announcement by crypto payment processor BitPay that in the near future it will be possible for its customers to accept Ether payments for purchases of goods and services. Also, the BitPay wallet will support Ether.

Ethereum co-founder Vitalik Buterin had this to say about the news:

"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.

BCH-USD

BCH-USD 24 Hour Chart - 17 Sep 2019.png

On Monday (September 16), Bitcoin.com announced that it had entered into a strategic partnership with Taiwanese smartphone manufacturer HTC, as a result of which the Bitcoin.com wallet will come preinstalled on HTC's current and upcoming blockchain phones (Exodus 1 and Exodus 1s):

BNB-USD

BNB-USD 24 Hour Chart - 17 Sep 2019.png

Although BNB is currently in the red, this may change during the next several hours once all of the six mini announcements that Binance plans to make today have come out:

The first of the six announcements that Binance CEO Changpeng Zhao (aka "CZ") referred to is the addition of support for Cosmos (ATOM) to Binance's Margin Trading platform:

XMD-USD

XMR-USD 24 Hour Chart - 17 Sep 2019.png

OKEx Korea announced on Monday (September 16) that it intends to delist all five privacy coins it is currently supporting, i.e. XMR, DASH, ZEC, ZEN, and SBTC, due to concerns that these cryptocurrencies do not allow it to implement FATF's so-called "travel rule". 10 October 2019 is the date on which transaction (i.e. trading) support ends.

DASH-USD

DASH-USD 24 Hour Chart - 17 Sep 2019.png

Since OKEx Korea's delisting announcement mentioned DASH, you would expect it to be down today, just like XMR. However, it is not, and that is very likely due to the fact that today (September 17) is the day that trading in DASH is expected to start on Coinbase Pro on/after 09:00 PST (16:00 UTC) provided that there is sufficient liquidity.

Featured Image Court: Photo via Pixabay.com