Weekly cryptocurrency review #11
TRON (TRX) launches its first game thanks to BitGuild
Justin Sun, general director and founder of the TRON Foundation, whose cryptocurrency TRX is listed on the BitBay exchange, recently announced the first blockchain game based on the TRON network in the world. The game is called Magic Academy and was developed by BitGuild.
The BitGuild team consists of experts for matters related to cryptocurrencies and games from around the world, including former Facebook employees and other well-known and reputable technology companies. The company believes that blockchain would help to verify the integrity of transactions in the gaming sector, as it is an industry that loses billions of dollars annually due to numerous frauds and financial defrauds.
The main goal of Magic Academy is that players will be able to adapt their digital assets more than ever, and developers can also create and sell these digital resources in a more secure way thanks to blockchain technology. It will also allow you to verify digital resources in terms of their value and deprivation, which led to, for example, increased interest in CryptoKitties game at the end of 2017.
The TRON project has been very busy recently, and on September 29 Justin Sun druing the live stream announced to investors and enthusiasts about the current situation of the TRON project. First, he pointed out that Tron burned 98% of his TRC ERC20 tokens - a total of about 97 billion tokens - since the TRON emigrated from Ethereum's blockchain. He also discussed how, from his point of view, the situation of interaction of TRON with BitTorrent looks like, which he recently bought. During the stream, he also boasted that TRON gained more users a few days after launching Mainnet compared with Ethereum in 2015.
Time will tell if the Magic Academy will be a success and will attract players, although the relationship between TRON and BitGuild certainly has potential.
Annual Ripple Swell conference with extraordinary guests
This year Ripple planned a conference for two days and started it with a Q & A session with former US President Bill Clinton. He has touched on many topics, such as the cyber security challenges facing the US government. He also discussed topics that go beyond the subject of conferences in the field of financial technology, including laws regarding weapons, foreign policy and his latest novel.
The next interesting speaker was Brad Garlinghouse, who discussed the basic Ripple mission - Internet of Value. Garlinghouse explained: "It's about being able to be a builder - about being able to partner with the industry and enable something that has not been seen yet: another era in globalization."
Then Ed Metzger, head of innovation at Bank Santander, spoke about his One Pay FX product. One Pay FX is the world's first mobile application for cross-border payments operated by RippleNet. At the Ripple conference, Metzger described the journey of his financial institution with Ripple and gave an interesting example of using the BitBay cryptocurrency XRP: "One of our clients was in Italy on vacation and parked in the wrong place. He had to pay a fine and he did not have his bank card, but he was able to use the app to pay a fine immediately and stop his car from being towed away. All it took was four or five clicks to do something that would take many hours or even days in the past. "
Prime Minister of Malta: cryptocurrencies are "the inevitable future of money"
Not only bank governors are aware of the breakthrough benefits of cryptocurrency and blockchain technology. At the 73th UN General Assembly, Prime Minister of Malta, Joseph Muscat, said that this technology allows for greater transparency and cryptocurrencies are "the inevitable future of money." No one is ready to talk about the benefits of blockchain than the prime minister of one of his greatest supporters .
Malta has already taken steps to become the Blockchain Island for some time. This is the first jurisdiction regulating this technology, offering a strong impulse for the giants of the cryptographic industry to move. In order to increase the friendly climate for the cryptography industry and increase the blockchain activity in this country, the Maltese government approved three new cryptography laws in June. Muscat explained: "No one is deprived of his legitimate property because of data security breaches, [...] [enterprises] become more responsible to their shareholders, (...) (and countries) go from collecting information about their citizens to environmental regulation in which citizens trust the security of their data. "
And what about the cryptocurrency market?
The total capitalization of the cryptocurrency market fell slightly last week and is currently at 214 826 442 154 USD. Bitcoin's dominance over other cryptocurrencies also dropped slightly and now stands at 52.1%. This situation is illustrated by the following two charts: