Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, IBM-Maersk Blockchain Platform adds new partners; Bitmain raises capital from major technology backers.
After the release of new regulatory framework around Thailands domestic crypto sector, as many as 20 companies have applied for cryptocurrency exchange licenses. Coming into effect on July 16th, Thailands SEC became one of the worlds first securities regulators to recognize cryptocurrency payments for ICO purposes.
Work on a collaborative project between the worlds largest shipping company, Maersk, and IBM, has now grown to include 92 other companies. The platform, codenamed TradeLens, seeks to facilitate global trade on their blockchain platform without the use of middlemen, potentially lowering overall transaction costs.
A new data center facility is being developed by an Australian cryptocurrency operator, and will become the countrys first cryptocurrency focused data center powered by renewable energy. The first stage of the data center and solar farm will supply up to 4 megawatts and is expected to come online in early 2019. The data center is estimated to mine up to $6 million per annum worth of bitcoin based on current market rates.
According to a Chinese publication, Bitmain has completed a pre-IPO round of financing that includes notable technology backers, such as Tencent and Japans Softbank. As of late July, Bitmain was in the process of securing a $1 billion round of financing, which would value the firm at $15 billion.
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