Introducing 'The Futurist Monitor: Crypto and Blockchain'. Released every other week , this report gives you a bite-sized summary of the biggest stories in the ever changing world of cryptocurrencies.

This sits alongside our 'Futurist Monitor' (released weekly) which covers tech generally, and will shortly be joined by 'The Futurist Monitor: AI and Robotics'; and 'The Futurist Monitor: Space'. To get these delivered straight to your inbox please subscribe (found on the 'subscribe' section of our website).

Ripple looks to the Middle East

There are huge volumes of money flowing in and out of the Middle East. The high level of cross-border payments makes the Middle East a rather lucrative market for Ripple. Ripple’s progress is continuing, with recent recruitments to their platform – mainly institutions- including UK-based currency exchange company IFX. They have already made in roads into the region having tied up banks in Saudi Arabia, Kuwait, Bahrain and more. With plans to open offices in Dubai, it is evident this region is becoming a major target for the network.

Sources: CNBC, CoinTelegraph

HSBC, BNP Paribas, StanChart, Others Launch Hong Kong Blockchain Trade Finance Platform

A new blockchain trade finance platform developed by a number of big banks launched this week in Hong Kong. The platform, dubbed e-Trade Connect, aims to improve efficiency in the financing of international trade by reducing the time needed to approve trade loan applications from thirty-six to just four hours. As of 2017, trade finance transactions were worth over $9 trillion, and the industry remains heavily reliant on legacy systems and cumbersome paper-based systems. Bringing increased efficiency to the system the e-Trade platform digitizes trade documents and automates many trade finance processes, streamlining the interactions between counterparties. This exemplifies how blockchain can be utilised to increase efficiency, and also shows how it is becoming a staple in the toolkit of banks: expect many of the legacy systems that underpin current financial services to be uprooted in this manner in the months and years to come.

Sources: Reuters, Coin Telegraph

The Winklevi want more than £20M in stolen Bitcoins back

Charlie Shrem, who was involved in the Silk Road money laundering scandal, is being sued by the Winkelvoss twins. They claim Shrem stole 5,000 bitcoins from them back in 2012, worth £24 million today. Shrem and the twins were once business partners, before Shrem went to jail, and in 2012 Shrem shorted their returns. To add to the suspicion, Shrem has bought (or questionably acquired) 6 properties, two Maseratis and two powerboats since being set free.

Sources: Reuters, Gizmodo

Why did Akon win ‘Innovator of the Year’?

The artist who brought us ‘Lonely’ and ‘Smack That’ has, over the past four years, brought electricity to hundreds of communities in 15 countries via his ‘Akon Lighting Africa’ initiative. Furthemore, his cryptocurrency- ‘Akoin’- has been put to good use . As well as being a currency in the economy, Akoin is helping to build cities – with the first being in Senegal.

Sources: AfricaNews, Newsweek

Prices at 10:30 04.11.2018

Bitcoin BTC £4,978.38

Bitcoincash BCH £415.58

Ethereum ETH £157.51

Ethereumclassic ETC £7.27

Litecoin LTC £41.55

Ripple XRP £0.35

Source: WorldCoinIndex