The Japanese Peach Aviation will join other global airline services that accept bitcoin for flight tickets like the Latvian airline, Airbaltic, LOT Polish Airlines, and more. Alongside this, bitcoin businesses like Coincheck and Bitflyer aim to sign up thousands more Japanese merchants this summer. As bitcoin fever takes hold in the country, Japanese residents from the region and international travelers will be pleased to know they can fly to over 22 destinations across Asia utilizing bitcoin as a form of payment.

Source: Japanese Airline Accepts Bitcoin As Cryptocurrency Fever Spreads Across the Region – Bitcoin News, May 22, 2017 | Jamie Redman

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(And anyone else still struggling to understand cryptocurrencies)

Don’t bet against crypto assets in the long-run: as we approach the 10 year anniversary of the Bitcoin paper it is clear that they aren’t going anywhere and that decentralized applications may very well find an important place alongside all the other forms of organization we have come to take for granted.

Source: A Letter to Jamie Dimon – Chain, Adam Ludwin, Chain, October 16, 2017

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Crypto-tokens are supercharging network effects by aligning incentives like never seen before. These “DApp” tokens are going to enable the next wave of business models, where micro-incentives and rewards will share the value that a business generates with their users. A business model where early token holders are rewarded for being early adopters, spreading the word, and spending the coin, where companies can change consumer behaviour through incentives. These features are opening business up to customers who were previously excluded, such as the underbanked.

Lastly, in a world of chaos, let’s not forget about “Hope”. Many of us are hoping for a better world. We’re willing to take risks and bet the farm in the face of all likelihood of failure. We do this because we know that it’s on us to make the world a better place for the next generation. With the same breath, we are finding that there are others out there with the same dream that have never been given the chance to participate in the changing world because of the previous boundaries of the financial system. That world is gone. This is the New Financial Revolution. It’s going to be a rough ride — it may look like it won’t work at some point. Some will give up. Those who persevere will be rewarded. We’re going to have to change everything — starting from regulations to the public utilities to government systems and even democracy. In the end it will be worth it. I “Hope”.

Source: The New Financial Revolution – A blog by Vinny Lingham, October 13, 2017

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How to Promote Innovation, Transparency, and Trust

Much has been and will be written and talked about centralized regulatory authorities wanting to regulate decentralized technologies and the organizations created by them. As funny as that may seem, there is some logic behind it and hopefully, a middle ground for everyone to claim a win.

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While there may be broad agreement that a good argument may exist regarding suitability and appropriateness in respect of certain investments, some may not agree that a person who has accumulated a significant degree of wealth will always be in a better position to assess an investment into certain blockchain-based businesses or startups. It may be that only those with substantial technical expertise will be in a position to really understand the business (and ultimately the code) that they are investing in.

Source: Gibraltar: Does Statement on Initial Coin Offerings Include New Regulatory Framework? | Crowdfund Insider, October 15, 2017 @ 4:17 pm By Joey Garcia and Joshua Ashley Klayman

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Perhaps the platform’s most distinguishing characteristic, however, is that the project showcases how private and public blockchain technologies are increasingly being used in tandem. While IBM’s blockchain solutions are designed to complete much of the workflow around transaction clearing, the actual settlement will be conducted using Stellar’s blockchain.

“For the first time, blockchain is being used in production to facilitate cross-border payments in multiple integrated currency corridors,” Bell said.

Source: IBM’s Stellar Move: Tech Giant Uses Cryptocurrency in Cross-Border Payments – CoinDesk, Michael del Castillo, October 16, 2017

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“As somebody who’s been around financial bubbles a [long time], my ‘alarmo-meter’ is at DEFCON 5,” said Silvers. “My sense is that most of the conversation that goes on around this is essentially designed to obscure. [It] uses big ideas and technical jargon to evade fundamental questions that should be asked in this institution about any investment product.”

“These investments are seen as cutting-edge opportunities for individual investors, but these investments may not be suitable for all investors because they carry such significant risk,” said SEC Commissioner Kara Stein.

Stein continued, putting forth her opinion that blockchain technology has the potential to “revolutionize” securities trading and fundraising, but cautioned that clear regulatory oversight was needed to combat growing incidences of fraud.

Source: Obvious Bubble? SEC Committee Lashes Out at Bitcoin and ICOs – CoinDesk Aaron Stanley, October 16, 2017

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The managing director of the International Monetary Fund (IMF), Christine Lagarde warned financial institutions that “we are about to see massive disruptions” as a result of cryptocurrency and distributed ledger technologies. The IMF head stressed the need for institutions and regulators to “adjust… to the impact of the combined breakthrough technologies that will impact markets.”

Source: Cryptocurrencies Expected to Cause “Massive Disruption” – IMF Managing Director

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Although concerns remain about the legitimacy of bitcoin, which JP Morgan (JP.N) Chief Executive Jamie Dimon described as a fraud earlier this month, the credibility of the blockchain technology itself has increased.

A growing number of senior bankers have said they believe it will eventually revolutionize the way payments are made across the industry, reducing complexity and costs of back-office processes.

Source: Exclusive: Royal Bank of Canada using blockchain for U.S./Canada payments – executive, Matt Scuffham, September 27, 2017 / 6:44 PM

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Equifax and others have shown the weakness of central databases in the hands of a single firm. Mutual distributed ledger systems have the potential to provide us with identity and activity management, even permitting us to make a market selling information about ourselves, taking control and cash back from companies like Equifax and Yahoo and giving it back to ourselves. There will certainly be mistakes along the way, but how can we truly object to reclaiming control of our most private property — our personal data?

Source: Blockchain Could Help Us Reclaim Control of Our Personal Data, Michael Mainelli, October 05, 2017

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