News snapshot: Cardano completes project Icarus audit, SEC launches FinHub while German enthusiast creates a Bitcoin-powered bicycle

Both the price and the fundamental action of our crypto market have been rather bland over the weekend. Some nice news regarding adoption and more government “meddling” into crypto stole the show, as most projects remained silent. The following stories caught our eye today:

  • SEC launches FinHub, shows support for crypto innovation

US Securities and Exchange Commission announced previously that they are launching the Strategic Hub for Innovation and Financial Technology, aka FinHub. This project enable the public to get familiarized with SEC initiatives that are focused on distributed ledger technology including blockchain and cryptocurrencies, automated investment advice, digital marketplace financing and artificial intelligence. Among other things, FinHub will focus on:

  • Providing a portal for industry and the public to engage directly with SEC staff on innovative ideas and technological developments.
  • Publicizing information regarding the SEC’s activities and initiatives involving fintech on FinHub.
  • Engaging with the public through publications and events, including a fintech forum focusing on distributed ledger technology and digital assets planned for 2019.
  • Acting as a clearinghouse for SEC staff to acquire and disseminate information and fintech-related knowledge within the agency.
  • Serving as a liaison to other domestic and international regulators regarding emerging technologies in financial, regulatory and supervisory systems.

FinHub will also act as a resource for fintech entrepreneurs, startups and initial coin offerings, with a special focus placed on the three “Rs” for ICOs: risks, rewards and responsibilities.

  • XRP and Stellar to speak at Money20/20

The conference held yearly in Las Vegas wants to take on the task of creating a simpler, fairer, faster and more inclusive financial system for individuals, businesses, and society as a whole. Focused on innovation, collaboration and education, as well as empowerment of “revolutionary” technology, the conference will host several crypto entrepreneurs this time around.

Ripple co-founder Chris Larsen, chief technology officer David Schwartz, senior vice president of business and corporate development Kahina Van Dyke and senior vice president of product Asheesh Birla will be present at the event. At the same time, Stellar co-founder Jed McCaleb will lead a panel on Interstellar, the platform’s project focused on teaching companies how to build on top of Stellar. The Money 20/20 event will last from October 21st to 24th.

  • German enthusiast creates a Bitcoin-powered bicycle

Signs of crypto adoption are spreading like wildfire as of lately. One of those popped up recently when a German crypto enthusiast Matthias Steinig published information about his electric bicycle that runs on Bitcoin and Litecoin. The bicycle works thanks to a built-in QR code generator; the person who wants to drive the bike needs to scan the generated code to complete the payment. Once he/she does so, the bike is theirs to use for a predetermined time.

  • Cardano completes project Icarus audit

Cardano’s project titled Icarus had its audit completed by Kudelski Security, an independent third party company which specializes in blockchain-related audits.  The Icarus project is a code name for Cardano’s lightweight wallet for mobile devices. IOHK, the company behind the Cardano platform, recently hired Kudelski to perform a security assessment of the Icarus Cardano wallet’s source code, documentation, as well as review the project’s most critical components. Kudelski found 3 low-severity issues and 11 observations related to general code safety but concluded that Icarus is ready to be put in action.

  • Bitcoin ATM and regular ATM companies collaborate on spreading crypto liquidity

Bitcoin ATM firm LibertyX and fiat ATM manufacturer Genmega completed a partnership which will let people purchase Bitcoin using a debit card at up to 100,000 locations throughout the United States. Interested ATM operators can contact Genmega and perform a software update on their machines which will enable them to purchase Bitcoin in a simple, straightforward way. The entire process will be no different than withdrawing fiat from such a machine. Currently, United States tops the world’s Bitcoin ATM leaderboards with over 2300 installed units. Major urban areas such as Los Angeles, Miami, Atlanta, Chicago, and New York are currently the leaders in Bitcoin ATM adoption with more than 100 vending machines in each city.

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