This Week in Cryptocurrency — Matchpool Weekly #004

This Week Rick Hilton Goes Blockchain, Bithumb Gets Hacked & Facebook’s Crypto Ad Ban Gets Recalled

Overview

This week, the Cryptocurrency space has been abuzz over the 30 million dollar hack of Korean Exchange Bithumb and the rapid crash of the entire cryptocurrency market. Rick Hilton legitimizes crypto real estate by utilizing smart contracts to sell his mansion and the Government of Philippines.

BrainerZ MEGA Riddle Pool

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Bithumb Hack + Market Crash

This week, Bithumb, a Korean-based Cryptocurrency exchange was hacked for a reported $30,000,000 US Dollars. The news was a shock to the market and nearly the entire crypto market took a dive alongside the news. Of course, there may be other factors at play in terms of the crash but many speculate that it was the hack of Bithumb that was one of the leading factors. For the Cryptocurrency space to see mass adoption it is crucial that hacks such as this are uncommon and that new protocols and security is implemented to ensure that customer funds are safe and that the integrity of the exchange remains intact.

Rick Hilton To Auction Mansion Using Cryptocurrency

Cryptocurrency is bleeding into just about every industry and the world of Real Estate is no different. As Cryptocurrencies and blockchain technology expands into further corners of the earth we are seeing many familiar faces showing support for them. Rick Hilton, the famous co-founder of the Hilton Hotels chain has recently agreed to sell one of his mansions using blockchain technology. The sale of his mansion will be handled by a popular real estate exchange website, Propey and the sale be facilitated using blockchain-based smart contracts. The smart contracts are used in this instance to mitigate fees, intermediaries and the inconvenience that come with the international sale of real estate. If cryptocurrency continues to show genuine utility in several different industries then we will see mass adoption much sooner than most of us predict.

Facebook Backs Down From Banning Crypto Ads

Facebook has been a behemoth on the web for nearly a decade and a half so when they announced their ban on cryptocurrency advertising it sent a clear message that they were not standing behind the newest wave of web innovation. Thankfully, Facebook has recently come out to admit that they are reversing their ban on cryptocurrency related advertisement. It’s important to note that the ads will be approved and likely only come from established exchanges and brokers. By Facebook officially allowing cryptocurrency ads it shows that even the most established names in tech are realizing that we are in the midst of a blockchain revolution. Facebook has also been rumored to be releasing their own cryptocurrency but at this point Facebook hasn’t made any official comments.

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Matchpool Team