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Ethereum [ETH] co-founder Joseph Lubin: Blockchain is more than a market, it’s a movement

Namrata Shukla

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Ethereum [ETH] co-founder Joseph Lubin: Blockchain is more than a market, it’s a movement
Source: Unsplash

Joseph Lubin, the co-founder of Ethereum [ETH], recently took to Twitter to note how the Ethereum blockchain is slowly improving the financial and technological infrastructure of numerous developing countries. Lubin named Chile and Philippines as their prime adopters.

The performance of Ethereum has not been up to the mark this year, however, Lubin who is also the known founder of ConsenSys, a software production studio, is promoting it through its technology.

Source: Twitter

Source: Twitter

Chile’s National Energy Commission had also adopted Ethereum earlier this year. They stated that they picked Ethereum due to its ability to “augment levels of security, integrity, traceability, and confidence in the information available to the public”.

The nation had adapted Ethereum’s Proof-of-Work blockchain to track energy data.  The Ministry had expressed their appreciation for providing their data and for helping against hacking and manipulation, reported Newsbtc.

Likewise, Philipines’ Union Bank had also partnered with Lubin’s ConsenSys to develop Ethereum-based banking solutions for rural areas of the country. The decision was taken when a survey was done by the Bangko Sentral ng Pilipinas, the country’s national bank noted, that 77% of the Filipinos were unbanked.



According to the publication, the chairman of Union Bank, Justo Ortiz, said that Ethereum’s blockchain technology would help them “crack the hole of financial inclusivity”.

Lubin went all out on Twitter about the technological benefits through blockchains and people responsible for this. Lubin tweeted:

“I believe in #blockchain technology because of the people behind it. The developers, engineers, and technologists who #BUIDL The smart contract experts who audit and secure the code The designers who care deeply about user experience The marketers who tell the story of Web3″.





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Ethereum

Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets

Priya

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Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets
Source: Unsplash

Grayscale Investments, a digital asset management firm, made an announcement with regard to the second largest cryptocurrency in the market, Ethereum. The platform stated that the Financial Industry Regulatory Authority [FINRA] approved its Ethereum Trust, ETHE, making it the third publicly quoted investment product. The other two publicly quoted investment products are Grayscale Bitcoin Trust [OTCQX: GBTC] and Grayscale Ethereum Classic Trust [OTCQX: ETCG].

Grayscale Investments stated on Twitter,

“Our team continues to bring new opportunities for investors to gain exposure to digital currencies. We’re pleased to share that Grayscale Ethereum Trust received FINRA approval for a public quotation on @OTCMarkets under symbol: $ETHE* gryscl.co/2M4wVER (1/2)”

In a blog post, the platform stated that each Share of ETHE would be equivalent to 0.09662399 Ethereum, as of 30th April 2019. Further, the asset management firm also stated that the Ethereum in each share would decrease over a period of time as  ETHE would not “generate income” and the Ethereum would be “regularly distributed” to clear-out expenses.

It further stated,



“There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once trading commences. “

The ‘announcement of this announcement’ was made yesterday by Barry Silbert, the CEO of Digital Currency Group, thereby creating a buzz. Barry Silbert had stated on Twitter,

“Follow @GrayscaleInvest for some big news at 9 am NY time tomorrow. Announcing an announcement (yeah, that’s how I roll)”

To add on, the firm had recently launched the #DropGold initiative, with its main focus being prompting investors to invest in the digital gold, Bitcoin. The firm had stated,

“Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold. […] Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold.





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