The aftermath

🍂 🍂 November 7, 2017 🍂 🍂 "The future is there... looking back at us... trying to make sense of the fiction we will have become." ― William Gibson Got this from a friend? SUBSCRIBE HERE THE FEATURE 11:FS Backs Off $50 Million Blockchain for Banking Fund Sure, the ICO boom feels invincible... but, then again, all bubbles do... Like the 'private blockchain' craze of 2015 and 2016 before it, ICOs have been defined by impressive boasts of inevitability. However, today we got a glimpse of what a comedown might look like. The 11:FS consultancy – better known in the U.K. press as the 'fintech Avengers' – confirmed its $50 million blockchain for banking fund has been scrapped. It's a laudable admission, and one that brings with it crucial market transparency. But it's also a good example of the big shadow market crazes cast (and why they can fade for simpler reasons). The fund could have been closed, the company says, though it was warehousing that eventually did the concept in. As such, the interview serves a reminder of how sometimes the cart can get before the horse. The infrastructure for ICOs is similarly nascent – we would be unwise to expect its own efforts, even from the strongest of teams, to avoid similar setbacks. Read the whole story Tweet Share ⭐ COINDESK SPONSOR ⭐ BitClave is using blockchain to eliminate ad service middlemen and create a direct connection between businesses and customers. On the BitClave Active Search Ecosystem, customers control their identity, decide who has access to their data and are "paid" each time businesses "use" their data to make them offers. Learn more!   Wait, there's more: Short-Lived Rebound? Bitcoin Struggles to Retake $7,200 Bitcoin prices dropped to a four-day low below $6,950 yesterday before regaining some poise. So has the pullback run out of steam? 'Mothballed': 11:FS Backs Off $50 Million Blockchain for Banking Fund An emerging fintech consulting firm has revealed that it shuttered a fund aimed at raising money for enterprise blockchain startups. Thai Bank Taps IBM for Contract Management Blockchain Pilot Thailand's Bank of Ayudhya and IBM have completed a blockchain pilot aimed to streamline the contract management process. A More Equitable ICO? Why Blockstack Said No to a Token Pre-Sale Disappointed in the way ICOs are often handled, and needing wide distribution, Blockstack has dropped the pre-sale for its upcoming token launch. Malaysia's Securities Watchdog Plans Cryptocurrency Regulations Securities Commission Malaysia has revealed it is planning a regulatory framework for cryptocurrencies, as well as a DLT pilot. How to Stop Worrying and Love the Fork It's going to be a stressful month for bitcoin, but in the big picture, breakups can be healthy for the ecosystem – and possibly for society. Shell, BP Among Energy Giants to Back Blockchain Trading Platform Several major energy firms, including BP and Shell, are partnering on a new blockchain-based trading platform. Money Manager VanEck Launches Cryptocurrency Price Indices The firm behind a recent effort to launch a cryptocurrency-tied (ETF) has unveiled a set of new indices related to bitcoin and other digital assets. $8,000? Goldman Sachs Analysts See Possible Bitcoin Price Jump Goldman Sachs analysts predicted that the price of bitcoin could surge as high as $8,000 in a note distributed to clients earlier this week. Bitcoin's Price Slips Below $7,000 The price of bitcoin has slid below $7,000 just a day after climbing above the $7,600 level. Ripio Closes $37 Million ICO for Ethereum Lending Network Ripio's peer-to-peer lending platform uses smart contracts to reduce lender risk and increase lending in the developing world. US Medical Board Group Launches Blockchain Certification Pilot A national non-profit group for state medical boards is launching a new blockchain pilot focused on digital certifications. US Treasury to Audit FinCEN's Cryptocurrency Practices FinCEN's cryptocurrency practices are set to be reviewed by the U.S. Treasury Department's inspector general. Ethereum Classic Snaps Slump as Price Hits Eight-Week High Ethereum classic rose to eight-week high today, thanks in part to keen trading on South Korean exchanges. Go to CoinDesk  BTC: $7,044.45 +1.24%  ETH: $295.70 -1.04% @8:30 EST - More price details 👋 CoinDesk is Hiring 👋 Come join our great team here in New York City. Apply Today Copyright © 2017 CoinDesk, All rights reserved. You're receiving this email because you subscribed for updates on our website. Our mailing address is: CoinDesk 636 Avenue of the Americas New York City, NY 10011 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list