On episode 80 of the Wild West Crypto Show, titled ‘Wild West Meets Liquid Lunch’, Brent Bates turned out to be something of a Lone Ranger, hosting the show all by himself. The episode might have been completely Drew-less, because host Drew Taylor was in New York City appearing on John Tabacco’s show, ‘Liquid Lunch’. However, Taylor tuned in with an update on events in Hong Kong, where bitcoin activity has intensified recently. Despite that movement, cryptocurrency has been bouncing around the $8,000 range, as reported by Bates – it seems some things never change.
This week’s Wild West Crypto Show was, as always, entertaining and informative.
Also, a regular on the show, the director of communications at CryptoCurrencyWire brought everyone up to speed on developments in the crypto space. The big news was the creation of a crypto fund by an agency of the United Nations.
Earlier in October, the United Nations Children’s Fund (UNICEF) announced the launch of a crypto fund to receive, hold and distribute donations of bitcoin and ether in its aim to back open-source technology for children around the world. The cryptocurrency fund will receive contributions in cryptocurrency and issue grants in the same digital currency form. The Ethereum Foundation made the first contribution to the fund with its native cryptocurrency, donating 100 ether (ETH), worth about $18,000 at the current price (http://nnw.fm/4g4WG).
In other news, BankLine announced the first-ever ACH capabilities for crypto companies. BankLine, which provides a banking environment for crypto ATM companies, has added a fourth banking partner that supports the cryptocurrency industry. BankLine’s newest banking partner provides U.S.-based cryptocurrency companies with a “bank agnostic platform” that facilitates settlements for ACH credits and debits.
The service is invaluable for electronic payroll disbursements, rent and utility payments, and reconciliation of merchant receivables collected from behind-the-counter sales (http://nnw.fm/eD01Y). The move is a much-anticipated development in the industry. Because of the KYC AML risks, many financial institutions shy away from doing business with cryptocurrency companies, so an institution willing to serve the community is welcome news.
However, the blockchain technology behind cryptocurrencies seems not to have escaped the same stigma. Recently, Bank of America advertised on LinkedIn for the position of treasury product manager for Ripple. According to the job description, “This role leads the product management team for the Ripple Project, a decentralized ledger, technology-based solution to cross-border payments marketed to GTS clients.” It seems America’s second-largest depositary institution is banking on Ripple (http://nnw.fm/b9sZQ).
For the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring the latest news from around the world, visit http://nnw.fm/Ku3Er
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