MIT Litecoin project was a hoax?

MIT announced a mysterious Litecoin project but never actually launched it
08 August 2017   1824

Distributed database that is used to maintain a continuously growing list of records, called blocks

World famous Massachusetts Institute of Technology announced a mysterious cryptocurrency project in June. 

The news got a great response in the cryptocurrency world society.

MIT Litecoin project countdown screenshot MIT Litecoin project countdown screenshot


Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency

Firstly, no one could tell for sure what the project was exactly about.  The only thing known was that it was somehow related to Litecoin. Even the creator of Litecoin, Charle Lee, had no idea about this project:

Secondly, the project was to be released on August 1st, on one the most significant days in the cryptocurrency world's history (the day of Bitcoin fork). 

So what?

Now, it appears that the Litecoin page has been removed from the website and the web address of the project is no longer accessible. To tell the truth, such a move leaves the community at a loss: no one actually knows whether or not this was a hoax as MIT team remains silent.

Some people are wondering whether such a “hoax” will impact the LTC price. However, Litecoin has been relatively stable these past few weeks, which was seemingly unrelated to the MIT project. 

Taking into consideration all the crazy mess around Bitcoin fork on August 1st, not much attention was drawn to the MIT project and it managed to disappear silently and even more mysteriously.

The users found themselves fooled in a way, tried to find out the truth on their own:

Charlie Lee on MIT Litecoin project on his Twitter Charlie Lee on MIT Litecoin project on his Twitter

Since the Massachusetts Institute of Technology team has remained silent and hasn't published any official statements, we have appealed to them with a request to comment on this situation.

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   72

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.