BlockShow Asia, Bitcoin Crash Warning, India Delays Crypto Ban: Hodlers Digest, Nov. 11–17
Coming every Sunday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
BlockShow Asia 2019 was held in Singapore this week, leaving us with plenty of stories to chew over. Binances Changpeng Zhao was among the speakers, and he predicted that the central bank digital currency being developed by China will be based on blockchain. Explaining his reasoning, Zhao explained how Beijing wants to push the influence of the renminbi globally in order to make it competitive with the U.S. dollar. He welcomed competition in the crypto world, saying: Having is better than not having. Having stablecoins is better than not having them. Having Libra is better than not having it. Zhaos appearance followed President Xi Jinpings calls for China to accelerate its adoption of blockchain — and the exchange boss said those who were laughing at blockchain arent laughing now.
Crypto regulation was another hot button during the two-day event powered by Cointelegraph. Some, such as Proof of Capitals managing partner Edith Yeung, publicly criticized American regulators for leaving blockchain-based ventures in the dark — with some exchanges leaving the U.S. altogether because of uncertainty surrounding their status. Others, such as Quoine co-founder Mike Kayamori, were far more cautious. He said regulation was something that needs to be done carefully given how the industry is constantly evolving, and he warned: The government cant try to regulate things it still doesnt understand.
Another interesting panel at BlockShow focused on creating token value — and asked whether monetary gains are hindering blockchain innovation. VeChain founder Sunny Lu claimed 99% of a tokens value is normally linked to speculation, rather than the value that a solution can bring to society. He added: This causes many startups to waste a lot of time producing and 'selling' the token, failing to develop solutions for where they were initially focused. Fellow speakers acknowledged that it can be difficult to determine the value of blockchain projects, given how the blockchain industry is still very young, but they expressed confidence that it will get easier as the market continues to develop.
Changpeng Zhao, Binance CEO
A quick look at some of this weeks other headlines now. Indias proposed, controversial ban on crypt ...