If you opened a Zoom link earlier this week and noticed that passwords are now required to join a meeting, you are not alone.
Private Meetings Gone Public Effective April 5th, Zoom has enabled passwords and virtual waiting rooms as the default setting. However, the new security measure only addresses a single item on a long list of privacy issues that could not hide behind a virtual background.
As the number of its users rocketed during the coronavirus crisis, the video-conferencing platform has also been increasingly criticised over security and privacy concerns. After weeks of negative press about end-to-end encryption, news of zoom-bombing and user data being routed through China, it is discovered that thousands of private user videos have been exposed online. In an effort to restore the reputation of the video-conferencing platform, Zoom CEO Eric Yuan publicly apologised and promised to proactively fix the issues.
Seeking Alternatives In response to the rise in remote work, video conferencing is becoming the norm for companies around the world. While Zoom is receiving backlash for security and privacy concerns, users look to its competitors – Cisco Webex, Skype, etc. Many of them offer freemium plans to attract new users. Meanwhile, some members of the blockchain community have started turning to open-source alternatives and privacy-focused messaging apps.
Protect your data as much as your health. After all, security is only as strong as the weakest link.
Stocks jumped, rebounding from sharp losses in the previous week, as the number of new coronavirus cases in the U.S. appeared to slow down. Each of the major indexes rallied more than 5%. Stocks actually hit session highs minutes before the close. The Dow Jones Industrial Average traded 1,700 points higher.
Oil prices fell on Monday amid ongoing uncertainty around the prospect of production cuts. The move lower came even as the CEO of Russian sovereign wealth fund RDIF told CNBC that Moscow and Riyadh were “very close” to an oil deal, and as Russia reportedly said it was ready to reduce output, according to Reuters.
Crypto Prices (from CoinMarketCap) Bitcoin: Up 6.39% to $7,287.84 Total trading volume (24h): $49.51+ billion USD
Ethereum: Up 16.14% to $168.24 Total trading volume (24h): $23.52+ billion USD
3 biggest movers 24 hours Biggest Mover 1: eosDAC (EOSDAC) is up 308.17% to $0.008496 Biggest Mover 2: Helpico (HELP) is up 184.72% to $0.084596 Biggest Loser: Super Bitcoin (SBTC) is down 57.65% to $0.377167
What Moved Crypto Markets (i.e. digital assets)
Investors have brought class-action lawsuits in federal court against seven cryptocurrency issuers and four exchanges, claiming they sold billions of dollars in unregistered assets in violation of U.S. securities laws. The defendants include crypto issuers Block.one and Tron, and exchanges Binance and BitMEX. The investors said that BitMEX, in addition to selling unregistered securities, also manipulated the cryptocurrency market for its own benefit.
TheBlock reports: major cryptocurrency exchanges appear to remain unaffected by the COVID-19 pandemic’s economic impact. At least seven exchanges The Block spoke they have seen an uptick in user sign-ups and trading volumes, These include Kraken, Gemini, Bitfinex, OKEx, Bitstamp, Paxful, and KyberSwap.
A group of companies including Consensys and Hyperledger are backing a virtual hackathon focused on solutions for fighting the COVID-19 pandemic. Announced last Thursday in a Consensys blog post, the hackathon aims to bring together developers and health experts to “build blockchain solutions to help collect, standardize, verify, and optimize data to aid scientists as they seek to better understand COVID-19”. For those looking to compete, the prize money for the STOP COVID-19 Hackathon totals $20,000, including $10,000 for first place, $7,000 for second place and $3,000 for third place. Winning entries will be fast-tracked for additional funding sources through Gitcoin and ConsenSys grants, as well as other funding opportunities within ConsenSys Health.
Crypto exchange Poloniex has rolled out a new token issuance platform called “LaunchBase.” Announced on Sunday, the platform’s first supported project is Tron’s decentralized stablecoin system called “JUST.” JUST was initially named “Djed” when it was announced last week. It is the Tron Foundation’s MakerDAO-like stablecoin system.
Other Specialties Fintech: The Bank of Korea, the country’s central bank, has launched a pilot program for testing its own CBDC. Announcing the news on Monday, the central bank said the program was launched last month and would run until December 2021. The 22-month program is aimed at identifying technical and legal provisions required to create and issue a digital currency. On the technical side, it would define central bank digital currency (CBDC) design, an operation method of CBDC, and whether blockchain technology would be feasible to implement. Healthtech, AI: IBM wants to help researchers better understand and treat COVID-19. To do so, it’s putting its AI to work. It has released a series of new tools to aggregate data, help researchers explore potential therapies, advance the study of newly sequenced SARS-CoV-2 genomes and make the latest info available to healthcare professionals. IBM is also making its Functional Genomics Platform available for free for the duration of the pandemic. Smart cities: Google Maps is adding another new feature, one that allows users to easily find restaurants nearby that provide takeout and delivery options. Where Google Maps previously let people click to quickly find restaurants and coffee shops, users will now see options for takeout and delivery in the app. The new feature might also help keep restaurants in business, as lockdown restrictions prevent them from serving people inside. And, since Google Maps links users directly to a restaurant, users may be saving themselves, or the restaurant, fees associated with delivery services.
Coronavirus update: South Korea confirmed 98 more cases and two additional deaths as of Saturday, while China reported 46 new confirmed cases and six more deaths. Singapore will bar entry and transit to all short-term visitors starting from 11:59 p.m. on Monday. India started a 14-hour curfew as part of the efforts to contain the coronavirus outbreak. Spain’s death toll rose to 1,720.
The death toll from an outbreak of coronavirus in Italy has risen by 651 to 5,476, officials said on Sunday, an increase of 13.5% but down on Saturday’s figure when some 793 people died. The total number of cases in Italy rose to 59,138 from a previous 53,578, an increase of 10.4%, the Civil Protection Agency said — the lowest rise in percentage terms since the contagion came to light on Feb. 21. Of those originally infected nationwide, 7,024 had fully recovered on Sunday compared to 6,072 the day before. There were 3,009 people in intensive care against a previous 2,857.
Pope Francis said on Sunday he will this week deliver an extraordinary “Urbi et Orbi” (to the city and the world) blessing – normally given only at Christmas and Easter – and called for worldwide prayer to respond to the coronavirus crisis.
Markets: The dollar strengthened Friday after a rally that put it on track for its biggest weekly rise since the 2008 financial crisis, as a global scramble for funding sent other currencies reeling. The dollar index rose slightly to 102.82 after weakening 0.7% to 102.00 earlier in the day on Friday.
Gold rose on safe-haven appeal, but was set for a weekly drop. Oil dropped 11% on Friday, giving back early gains, even as the world’s richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession. European markets closed higher Friday, following a volatile week as central banks and governments around the world adopted a “whatever it takes” approach.
Crypto Prices (from CoinMarketCap) Bitcoin: Down 5.62% to $5,929.47 Total trading volume (24h): $41.23+ billion USD
Ethereum: Down 7.00% to $125.13 Total trading volume (24h): $12.82+ billion USD
3 biggest movers 24 hours Biggest Mover 1: Electrum Dark (ELD) is up 7,924.96 to $1.04 Biggest Mover 2: WhiteCoin (XWC) is up 252.28% to $0.076751 Biggest Loser: ArdCoin (ARDX) is down 58.70% to $0.000415
What Moved Crypto Markets (i.e. digital assets)
Bitcoin’s correlation with the S&P 500 is at a 2-year high. This is a bearish sign for the cryptocurrency market.
Meanwhile, Bank of China has continued its anti-crypto narrative in a long post titled “3.15 Protection of Financial Consumption Rights and Interests”. The post was published on the bank’s official WeChat account on March 22. In the post, bank officials warn the public about cryptocurrency investment, calling out the three main scams seen on crypto exchanges. The bank stated: “First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas cryptocurrency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.”
The Italian Red Cross is now seeking Bitcoin donations to purchase emerging medical equipment after its first-crypto initiative surpassed its goal within three days. On March 12, Italy’s Red Cross launched a BTC fundraising campaign to purchase an advanced medical post for pre-triaging coronavirus cases.
Other Specialties Fintech: Singapore financial-technology firm MatchMovehas teamed up with homegrown finance company Singapura Finance Ltd. and two others to apply for a digital banking license in the city-state. The MatchMove-led consortium is the latest group to announce it’s submitted an application for a digital full banking license to the Monetary Authority of Singapore. That sets the firm against heavyweights including Sea Ltd., which is backed by Tencent Holdings Ltd., and the Grab Holdings Inc.–Singapore Telecommunications Ltd.consortium. Healthtech: Google said on Saturday it launched a United States-focused website with information about coronavirus guidance and testing. The site (google.com/covid19), which consists of resources and links focused on the potentially deadly respiratory illness COVID-19, will be available in more languages and countries in coming days, Google said in a blog post. AI: Researchers have used Artificial Intelligence (AI) to train algorithms and predict tumour sensitivity in three advanced non-small cell lung cancer therapies which can help predict more accurate treatment efficacy at an early stage of the disease. The researchers at Columbia University’s Irving Medical Center analyzed CT images from 92 patients receiving drug agent nivolumab in two trials; 50 patients receiving docetaxel in one trial; and 46 patients receiving gefitinib in one trial. To develop the model, the researchers used the CT images taken at baseline and on first-treatment assessment. “The purpose of this study was to train cutting-edge AI technologies to predict patients” responses to treatment, allowing radiologists to deliver more accurate and reproducible predictions of treatment efficacy at an early stage of the disease,” explained Laurent Dercle, associate research scientist at the Columbia University Irving Medical Center. Smart cities: Lyft Inc on Friday told drivers they could sign up for work driving deliveries under a new service as ride-hailing demand plummets during the rapid spread of coronavirus in the United States. In an email to drivers, Lyft co-founders John Zimmer and Logan Green said, “Those who would like to help neighbors get to grocery stores, workers to hospitals and caretakers to their jobs” can join a new “LyftUp Driver Task Force.” A link sends drivers to a Google doc sign-up sheet. Lyft said the service did not yet exist but will allow drivers to help out with direct on-the-ground needs in their community. Delivery would include medical supplies and test kits and meals for kids and seniors in need that would be picked up from distribution centers and dropped off without contact.
What Moved Global Markets – Coronavirus update: US health officials said on Sunday they had confirmed overall 11 cases, with one in Santa Clara County and two more in San Benito County. WHO Director-General Tedros Adhanom Ghebreyesus warned on Monday that the world may be “dangerously” unprepared for the next pandemic. – Markets reacted: the dollar strengthened and a gauge of global stocks jumped, lifted by an unexpected rebound in U.S. manufacturing that helped temper fears that caused stocks overnight in Asia to plunge on the potential impact of the coronavirus in China. – Some technology firms in China – including Huawei – have maintained operations to manufacture parts and products despite government calls in various cities and provinces for companies to halt work to help stop the spread of a new coronavirus. – Oil falls to a more than 1-year low below $50 on fears the coronavirus will slow global growth. OPEC is reportedly considering large production cut. – The British pound slumped as the European Union and Britain clashed over a post-Brexit trade deal on Monday, with the two sides setting out very different visions of a future relationship that could result in the most distant of ties. Both want to secure a trade agreement, but Britain has set a deadline of the end of the year and the EU has warned that if Prime Minister Boris Johnson wants a no-tariff, no-quota deal, he will have to sign up to its rules to ensure fair competition. Johnson said he would not do that, in a speech that harked back to Britain’s past trading successes, promising that his government would again be a champion of free trade and jealously guard his country’s new-found “sovereignty”.
Crypto Prices (from CoinMarketCap) Bitcoin: Down 1.30% to $9,283.07 Total trading volume (24h): $28.14+ billion USD
Ethereum: Down 0.87% to $189.27 Total trading volume (24h): $11.43+ billion USD
3 biggest movers 24 hours Biggest Mover 1: CloakCoin (CLOAK) is up 198.29% to $0.702132 Biggest Mover 2: Zipper (ZIP) is up 68.32% to $0.000240 Biggest Loser: eosDAC (EOSDAC) is down 81.77% to $0.002472
What moved Crypto Markets (i.e. digital assets) – Bitcoin was up over 29% in January, its best performance for that particular month since 2013. Experts said that bitcoin was being viewed as a “safe-haven asset” as global equity markets remain shaky following the outbreak of the coronavirus. – According to the latest data from Coinbase and Bitbay, Bitcoin usage among merchants is up. Coinbase is also looking to build out its merchant services in 2020. – More than 4,000 bitcoins – an amount worth approximately $37 million as of press time – will be auctioned off by U.S. law enforcement officials on February 18. The U.S. Marshals Service said on Monday that it will put up 4,040.54069820 BTC on the auction block on February 18. A $200,000 deposit is required for those wishing to participate, and would-be bidders must register by February 12. The Marshals Service held its first bitcoin auction in the summer of 2014 – which, as reported at the time, saw investor Tim Draper win nearly 30,000 BTC across 10 auction blocks. A number of other auctions, including more coins seized during the U.S. government’s investigation into the now-defunct dark marketplace Silk Road, have been held in the years since.
Other Specialties Fintech: The day before Brexit, Innovate Finance has put out a report hailing a record 2019 for the UK’s fintech scene and predicting a rosy future. In 2019, the UK smashed its fintech investment record, notching up $4.9 billion of capital raised, surpassing the $3.6 billion the previous year and catapulting the country to second in the global rankings for VC investment.
Fintech firms in the UK attracted more capital and completed more deals than the rest of the top 10 European countries combined. Seven of the top 10 deals in Europe involved UK fintechs, with Greensill leading the way with an $800 million round and OakNorth bagging $440 million. Healthtech: Investment into mental health technology has boomed, reaching £580 million in 2019, according to a study by early-stage investor Octopus Ventures. The research shows an almost five-fold increase in mental health tech investment in the last six years, rising from £120 million in 2014. But the sector still makes up just 15% of overall investment in the digital health market. AI: Elon Musk tweeted he’ll be holding a “super fun AI party/hackathon”… at his house next month. The hackathon seems geared towards bolstering Tesla’s self-driving division. Smart cities: An amusing story of one (big) smart city: how the 2028 Olympics has sparked a transportation revamp in LA.
What Moved Global Markets – Coronavirus: China’s stock market plummets as the country’s death toll climbs past 360. – The first death from the coronavirus outside of China was reported on Sunday and the Beijing government took steps to shore up an economy hit by travel curbs and business shut-downs because of the epidemic. A 44-year-old Chinese man from the city of Wuhan in Hubei province, the epicentre of the epidemic, travelled to the Philippines and died there on Saturday, the Philippines’ Department of Health said. The vice governor of China’s Hubei province, Xiao Juhua, said the virus outbreak was still “severe and complicated”. A total of 304 people have died in China, the National Health Commission said on Sunday. Infections in China jumped to 14,380 as of Saturday, it said. – Apple Inc on Saturday said it would shut all of its official stores and corporate offices in mainland China until Feb 9. as fears over the coronavirus outbreak mounted. The coronavirus is threatening to disrupt large parts of China’s manufacturing machine and its global supply chains as the spread of infection and strict public health measures force companies and workers to remain idle. – BREXIT! It finally happened. The United Kingdom finally cast off from the European Union on Friday for an uncertain future, with Brexiteers claiming victory and popping champagne corks for an “independence day” they said marked a new era for the country.
Crypto Prices (from CoinMarketCap) Bitcoin: Up 1.07% to $9,377.48 Total trading volume (24h): $32.64+ billion USD
Ethereum: Up 5.16% to $190.23 Total trading volume (24h): $14.75+ billion USD
3 biggest movers 24 hours Biggest Mover 1: TCOIN (TCN) is up 524.75% to $0.013344 Biggest Mover 2: WHEN Token (WHEN) is up 71.31% to $0.005894 Biggest Loser: Blocs (BLOCS) is down 26.51% to $55.94
What moved Crypto Markets (i.e. digital assets) – Cryptocurrency investor Arianna Simpson is joining Andreessen Horowitz as a deal partner. The founder and managing director of crypto hedge fund Autonomous Partners announced the news Friday on Twitter. She said she has “admired the brand and platform that a16z has built from afar.” – Hankering for a Ferrari? Well, the only licensed stock exchange in Seychelles islands, is listing tokenized collectible cars worth over $200 million for retail and institutional investors. MERJ said Friday it is partnering with CurioInvest, a tokenization platform building on ethereum, to create tokens representing shares in “supercars” like the Ferrari. While the sale is open to institutional and retail investors, purchases are expected to be driven by institutional investors and those from regions with restrictions on auto imports, such as China. A $1.1 million Ferrari F12tdf will be the first car listed on the exchange, and MERJ said it might list as many as 500 vehicles. – In a recent tweet, Ethereum network co-founder Vitalik Buterin said Bitcoin (BTC) and Bitcoin Cash (BCH) are not the same. “Bitcoin Cash is not Bitcoin,” Buterin said in a Feb 1 tweet responding to Brad Mills’ accusation of Buterin as Bitcoin Cash promoter. Several tweets exist that might suggest Buterin is not 100% against BCH, although he clearly made the distinction that BCH is not BTC, even back in 2017.
Other Specialties Fintech: An amusing survey conducted by Business Insider: how people actually define “fintech”? BI surveyed 21 startups, and their responses varied widely. Beyond Big Tech and Wall Street, startups most would call “fintechs” are scooping up billions in VC funding from traditional venture firms and corporates alike. Some of the people we asked see fintech as an emerging sector, while others pointed out that the ATM, invented in the 1960s, was the first fintech innovation. And some wondered whether big tech firms experimenting with checking accounts and payments products could or should call themselves fintechs. Healthtech: The UAE’s Ministry of Health and Prevention (MoHAP) together with the Ministry of Presidential Affairs, Dubai Healthcare City and other relevant authorities has launched a blockchain-based health data storage platform. According to The Emirates News Agency on Feb. 2, the blockchain-based platform aims to improve the efficiency of the ministry, and will help users streamline the search for health facilities and its licensed medical and technical personnel, as well as to inquire about medicine supply chains. The new data storage blockchain platform will help secure an unchangeable, decentralized and encrypted database with high-security protection to verify data validity and reliability. AI: Artificial intelligence could be throwing off the search for alien life just as much as humans’ own cognitive biases, according to a new paper published in the scientific journal Acta Astronautica. When a neural network was shown an image from a crater on the dwarf planet Ceres, it identified curious patterns, including both a square (which people also saw) and a triangle. After the neural net detected the triangular shape in the images, people in the study also began to see it, even though they hadn’t previously. It’s an example of how false positives from AI could trip up extraterrestrial studies. Smart cities: 100 new airports, 5 new smart cities, 10,000 KM gas grid to be developed in India. To augment India’s infrastructure and create jobs, the government has launched Rs 103 lakh crore worth infra projects besides providing about Rs 1.70 lakh crore for transport infrastructure and accelerating highways construction, Finance Minister Nirmala Sitharaman said on Saturday. Presenting the Union Budget 2020-21 in Parliament, Sitharaman said the focus is on infrastructure for economic development.
Geoffrey Cheng 