Samsung wants three blockchain patents in EU; SEC chairman optimistic of DLT technology; South Korea gets Ripple-based remittance app; Kraken plans to sell company shares; Mt Gox CEO faces 10 years in prison

Samsung files applications for three blockchain trademark requests for smartphones in the EU

According to new reports, electronics giant Samsung has just filed three European trademark requests that relate top providing custody services for cryptocurrencies on its smartphones. To many,this is a sign that Samsung might soon announce a blockchain smartphone.

If true, Samsung would not be the first one to do this. HTC already did it with its Exodus 1, while Sirin Labs did the same with their FINNEY. Three patents that Samsung has requested are supposedly called ‘Blockchain Core’, ‘BlockchainKeyStore’, and ‘Blockchain key box’.

If the names are any indication, Samsung seems to be going after blockchain phones in their next big project, which corresponds with predictions that thecrypto market will recover in 2019.

Chairman of the US SEC remains optimistic about DLT investment opportunities

The US SEC chairman, Jay Clayton, has expressed optimism regarding the development of DLT (Distributed LedgerTechnology), stating that it can help facilitate capital formation. Clayton shared these predictions during a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs.

In continuation of the speech, Clayton added that there are some promising investment opportunities in the DLT future, for retailers and institutional investors alike. While there are numerous issues regarding some aspects of the new technologies, Clayton stated that the SEC was spent a lot of time focusing on ICOs, DLT, and cryptocurrencies.

His optimism regarding this technology comes from the SEC’s initiative to”foster innovations”, but also protect investors while doing it, which is made difficult due to bad actors that “pray on investors connected to.

Coinone subsidiary launches South Korea’s first blockchain-based remittance app with Ripple

Coinone Transfer, a subsidiary of Coinone, has just introduced South Korea’s first remittance app based on the blockchain technology. Cross, as the app is called, is created on the blockchain technology offered by Ripple itself. The app is said to provide people of Thailand and the Philippines with access to cheap and fast payment service.

As stated, the service was made possible due to RippleNet, which is Thailand’s Siam Commercial Bank, as well as the Cebuana Lhuillier in the Philippines.

According to Ripple, Cross will be different from other remittance options inSouth Korea as it doesn’t rely on traditional banking. Cross itself stated that making international transactions will be as quick and easy as making bank deposits.

Kraken to offer company’s stakes to a few select investors in their new fundraiser

A new announcement from Kraken states that the company will be offering its stakes to few selected investors. Jesse Powell, the company’s CEO, has confirmed that the firm is looking to attract several investors and that its rounded value is at $4 billion.

The shares will not be accessible to the public, and there will be no public offering at all. The company did not set any kind of goal that they plan to reach, and the amount will depend solely on the interest of investors. Powell also mentioned that the amount of shares is limited as well.

Furthermore, he revealed that Kraken already has plans for the future, some of which may be released in the early days of 2019.

Mt Gox former CEO could be facing a 10-year jail term for misusing customer funds

According to new reports, Japanese prosecutors are determined to sentence Mt Gox former CEO, Mark Karpeles, to a 10-year jail sentence. Karpeles, who used to be the executive officer of a bankrupt exchange supposedly used customers funds for his own purposes.

Prosecutors claim that Karpeles transferred $3 million worth (341 yen) of the exchange customers’ money to his own account between the months of September 2013 and December 2013. He then allegedly used this money for investing in the software development business. He also manipulated the Bitcoin exchange’s data in order to conceal his actions, which in turn hurt the company’s reputation, as well as that of the entire crypto space.
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