New York Stock Exchange owner has bitcoin platform in works
You know the New York Stock Exchange? One of the largest and most reputable trading platforms in the world? That one? Well, the forces behind the NYSE are reportedly developing a trading platform for none other than Bitcoin.
According to The New York Times, the exchange won’t be for your typical token trades, but will be targeted towards larger, institutional-level investors. Current Bitcoin trading technology has left investors wary of such large-scale trades, and the creators of this new platform hope the security and prestige of the NYSE backing will draw them out.
While details of this new exchange are still largely in the shadows, it has been revealed that it will operate using “swap contracts,” exchanges that end with actual tokens being placed into an account. Such a system offers more protection than typical token exchanges, and furthermore complies seamlessly with governmental regulations.
Bitcoin faced an unprecedented level of hype late last year, as its prices soared into the tens of thousands. While the sky high prices and resulting public fervor have largely calmed, Bitcoin appears as though it is here to stay, with banks and companies looking to it and other cryptocurrencies as investments of the future.
NYC tech companies rally in fight for net neutrality
Though the subject of net neutrality has all but disappeared from headlines since the FCC’s vote in December 2017, the fight continues for many tech companies whose businesses rely on the regulations that the vote effectively abolishes.
On Wednesday, companies across New York City joined a virtual “go red” campaign with the goal of raising awareness for an impending vote in the United States Senate. If successful, this vote could help block the FCC’s repeal of net neutrality.
Foursquare, which has been extremely vocal in their support of net neutrality, used their location-based tech and new in-house creative agency Sixteen to develop “Red Alert” graphics that were featured on the mobile and desktop sites of partners Shutterstock, Tinder, Vimeo and Warby Parker as part of a day of action on May 9.
In a statement, Warby Parker co-founder and co-CEO explained, “Repealing net neutrality benefits big corporations at the expense of small businesses, startups and consumers. Interfering with a fair and open internet will impede innovation, reduce job growth and ultimately make America less prosperous.”
China tops the global market for both mobile and PC games — with no competition in sight
Think you play a lot of video games? In 2017, China had a reported 604 million gamers, with that number set to increase to 768 million by 2022. For those geographically unaware, the United States only has a population of 325 million.
The results come from a new survey conducted by Niko Partners. In a statement to Venture Beat, Lisa Cosmas Hanson, managing partner at the firm, explained, “China is by far the world’s largest games market and the single most important market for both mobile and PC games, and it’s growing faster than expected.” In 2017 alone, the country of 1.37 billion raked in $12.13 billion in mobile games revenue, with that number projected to increase at a rapid rate.
Perhaps it comes as no surprise that China is setting the standard for mobile and PC game development. Many of the most downloaded iPhone apps are exclusive to China, and Chinese hardware makers like Huawei are are beginning to expand beyond their borders and compete in international markets.
According to the Niko Partners report, the most popular game on PC is League of Legends, and Honor of Kings on mobile. One thing that the entire world has in common with the Chinese gaming market? The rising popularity of esports.
Odds and Ends
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The Plaza Hotel, a.k.a the five-star Central Park adjacent legend whose rooms will run you roughly $800 a night, is being sold. The deal, which has been in the works for more than three years, is set to close on June 25 for a cool $600 million. [Read More]
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In equally fancy news, an on-demand jewelry service called Red Carpet Rocks just launched in New York City. Want Harry Winston to be your date for your niece’s bat mitzvah? No problem. [Read More]
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The Female Founders Fund is reportedly closing a seed round of $27 million in the coming days. Some of the most powerful women in tech, including Melinda Gates, Katrina Lake and Jenny Fleiss are all investing. [Read More]
