Maitland ICO Monitor – 11 July 2018

11th July 2018

The Big Read

Intel’s disruption, and the problem with every token pitch

Intel suffered because its focus was proprietary rather than problem solving. ICOs need to ensure they do not fall into the same obvious trap. The current boom of tokens is too focused on locking people in without providing an immediate and tangible benefit. If this does not change, it may meet the same sad fate as Intel. FT Alphaville, 4 July 2018

Regulators are slowly starting to get it: Utility tokens are real

One regulator at the G20 forum in Riyadh provided a refreshing take on how crypto-tokens should be approached: instead of jamming them into the decades-old securities law framework they should be recognised as a new type of technology for improving economic co-ordination. While many countries make headway with this train of thought, the US appears to be marching in the opposite direction. CoinDesk, 11 July 2018

Half of ICOs die within four months after token sales finalized

Bloomberg claims that roughly 56% of crypto startups die within four months after finalising their initial coin offerings, citing a study by Boston College which examined tweets from the startups’ Twitter accounts. Researcher Leonard Kostovetsky claims that gaining coins in an ICO and selling them on the first day is the safest investment strategy, continuing that all investors should sell their coins within the first six months. Bloomberg, 9 July 2018

New Kid on the Block – The Technologies, Funds and ICOs you should know about

New ICCO: Palladium

Malta-based blockchain company Palladium is launching a new token sale that will be fully regulated by the Malta Financial Services Authority, creating the first initial convertible coin offering (ICCO). Through the ICCO, investors will have the right to convert the tokens that they have bought into shares of the company after three years. Bitcoin Exchange Guide, 10 July 2018

New Country: New Zealand

New Zealand has given Coingrid the green light to conduct the nation’s first ICO this year, with the team aiming to build a native cryptocurrency exchange in order to make alt assets more accessible. Coingrid likewise intends to launch a cryptocurrency brokerage platform if they can’t raise enough funds during the process. Cryptomode, 9 July 2018

New Wallet: Opera

The Opera web browser for Android is launching a private beta version that will include a crypto wallet, following on from the includion of anti-cryptojacking software in their web and mobile browsers in January. Project manager Charles Hamel states that Opera is making “the internet of the future more accessible”. Cointelegraph, 11 July 2018

Scams, Sanctions and Suspicious Activity

PBoC will 'crush' foreign ICOs targeting Chinese investors: Official

An official of the People’s Bank of China has issued strong statements against overseas ICOs that are targeting investors in China. There was no word given on how the body intends to curb access to foreign ICOs, but WeChat is noted to have increased its efforts to spot cryptocurrency traders using the platform. CoinDesk, 10 July 2018

1 million computers hacked to mine $2 million-worth of cryptos

Police in Da Lian, China, have arrested 20 suspects from a computer technology firm after allegedly mining malware that infected over a million computers, earning the creators more than $2 million over two years. The hackers mined a total of 26 million digibyte, decred and siacoin tokens and developed a network of more than 100 agents to help propagate the hack. CoinDesk, 9 July 2018

Bulls & Bears of the week

"I want to quash this false narrative that's been going around for the past two years that you can separate blockchain from crypto. You can't" - Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore