I'm Not a Crypto Evangelist, CFTC Chairman Says

The head of the U.S. commodities regulator had a clear message: he is not a supporter for cryptocurrencies
17 April 2018   141

The Chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo, denied his involvement in the promotion and support of the cryptocurrency. This is reported by CoinDesk.

Talks that Giancarlo is a supporter of bitcoin had began in February, after his report to the Senate committee. In it, in particular, he stated that "we owe it to this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one." At the same time, he advised legislators to study cryptocurrencies and fight against scammers who use the credulity of inexperienced investors.

Now the head of the CFTC said that he did not expect such a big reaction of the cryptocurrency community to his speech: in addition to tens of thousands of new subscribers on Twitter, he had his own hashtag # CryptoDad.

I neither expected nor desired that a few words spoken during a Senate hearing broadcast on C-SPAN would lead to an Andy Warhol '15 minutes of fame.' Nor was I - or am I - a virtual currency evangelist.

Christopher Giancarlo

The Chairman, Commodity Futures Trading Commission

He also recalled that "get rich quick schemers" and "shady entrepreneurs" are common in the cryptocurrency sector, but that they are joined by "a growing contingent of professional, institutional users."

What I had acknowledged at that Senate hearing is the existence of a community that views technology as an agent of social change. Many of them have come of age during the 2008 financial crisis - the same crisis to which Bitcoin had emerged in response.

Christopher Giancarlo

The Chairman, Commodity Futures Trading Commission

Mister Giancarlo also reminded that the Commodity Exchange Act contains no reference to cryptocurrencies, so the law must be reinterpreted to fit new technology - assuming it is not revised by legislators. 

Zilliqa is holding a meetup in Singapore

High throughput blockchain platform Zilliqa is organizing a meetup session in Singapore on May 23 to share its progress and preview its new smart contract language Scilla
24 April 2018   26

A meetup titled "Zilliqa: Sharding in Action & Security by Design" by Zilliqa project will take place on May 23 at The Metro@ thebridge. Zilliqa is a new high-throughput public blockchain platform that can enable real-world applications considered impossible up to the moment. Zilliqa utilizes the idea of sharding to reach thousands of transactions per second without sacrificing security and decentralization.

The session will covering the so-far progress of the project, the partners joining the project and the preview of the new smart contract language Scilla that further improves on security for smart contracts. The event is going to be broadcasted love on YouTube. The agenda of the meetup is as follows

  • 18:45 - 19:00 Overview of the Zilliqa project
  • 19:00 - 19:20 Session with partners of Zilliqa
  • 19:20 - 19:50 Demo: Testnet & secure smart contracts with Scilla
  • 19:50 - 20:40 Networking

At the moment of publication, Zilliqa market parameters are as follows:

  • Average price $0.099018
  • Market cap $721,249,874
  • Volume (24H) $86,625,700