Cryptocurrency Weekly News Roundup – July 8th

Critics will be critics and people, people. At least so the saying goes, if ever one such saying did exist. In the midst of opposing contrary opinions Facebook cryptocurrency Libra has ignited a fresh wave of interest.

Also, another city is making moves to have its own cryptocurrency, this time its a stable coin.

Here’s a quick run through of all the goodies that happened in cryptocurrency and blockchain last week.

“Golden Libra” 

What would a currency backed by everything else plus gold look like? How much power would it yield? 

In an open letter, chairman and editor-in-chief of Forbes, Steve Forbes, has advised Mark Zuckerberg to back Libra with gold. In a criticism creamed sphere that has been what has followed the release of the Libra white paper, this open letter appears to kick against the grains. 

Forbes believes that Libra would transform to become one of the biggest inventions in the world. 

What else can we expect in the coming weeks? 

More Gold from Goldman Sachs

Away from Facebook, it looks like some other companies are making plans to release their own cryptocurrencies too. 

In an interview with the Les Echos newspaper, Goldman Sach’s CEO revealed that the leading global investment banking, securities and investment management firm, Goldman Sachs, has been conducting extensive research on tokenization. 

He also mentioned the possibility of it being a stable coin.

Busan’s Crypto

The second-largest city in South Korea after Seoul, Busan, is making plans to create her own local cryptocurrency. The Busan crypto would be a stable coin hooked in a 1 to 1 ratio with her existing local fiat currency.

More Steps in Decentralization

In a new partnership with Nervos, global digital asset financial, the Huobi group, is building a  public blockchain that enables decentralized financial services.

With this new blockchain, they’ve made it easier for your local bank, for instance, to have its own blockchain, tokenized asset and/or decentralized financial services.

Buy Shares with Crypto

Under a project titled “Equity for Punks”, Scottish craft brewery BrewDog has made it possible for investors to buy shares in the brewery with up to 10 different cryptocurrencies including  Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and XRP.

BrewDog also launched a new location where accept payments in Bitcoin.

But the name, equity for punks though.


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