Blockchain Phone Acute Angle to Be Launched Next Week

Blockchain Phone Acute Angle to Be Launched Next Week
September 6, 2019


The cryptocurrency market remains slightly bearish with most of the top 20 altcoins in red. Bitcoin (BTC), despite having lost 0.2% in the past 24 hours, continues to stay above $10,000 level. Bitcoin, which is trading at $10,515.86 at the time of writing this article, has a market cap of around $188 billion. Ethereum (ETH), which is another widely tracked crypto, has lost 2.6% to trade at $173.87. XRP, Ripple’s native crypto, has lost 1% to trade at $0.2575. Other altcoins which have lost in the past 24 hours include Litecoin (LTC-$66.65, -2.0%), EOS (EOS-$3.29, -1.5%), Cardano (ADA-$0.0451, -1.6%), Tron (TRX-$0.0154, -1.7%),  Binance Coin (BNB-$21.59, -1.9%), Bitcoin Cash ($292.31, -1.8%), OKB (OKB-$2.81, -0.1%), Dash (DASH-$80.95, -1.1%), Huobi (HT-$4.04, -1.9%),  Stellar (XLM-$0.0617, -0.8%), LEO (LEO – $1.10, -1.4%) and IOTA (IOTA-$0.2456, -1.6%). Monero (XMR-$74.02, 0.5%) and Ethereum Classic (ETC-$6.84, 0.7%) are the only altcoins in the top 20 list to trade in green.


Government level initiatives

De Nederlandsche Bank to regulate crypto-related firms from January

The central bank of the Netherlands (De Nederlandsche Bank) has announced that it will start regulating crypto-related firms from January 10th, 2020. Notably, the country does not acknowledge cryptocurrency as legal tender, even though in 2018 a Dutch court passed a decree that Bitcoin (BTC) was a legal “transferable value” in a case involving payment of a fine. De Nederlandsche Bank explained that cryptocurrency-related firms must enroll with it in case they wish to carry out business as usual.

In this regard, the bank has issued the following statement: “In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”

Furthermore, in July, Dutch ministers had suggested the government to oversee cryptocurrencies and some important fiat payments on concerns of money laundering.

In January, Dutch Minister of Finance, Wopke Hoekstra, was advised by the Netherlands’ Authority for the Financial Markets and De Nederlandsche Bank that a licensing process should be brought about for cryptocurrency-related businesses.


Private sector initiatives

Bitmark receives $3 million in funding for marketing strategies

Bitmark, a tech firm focused on blockchain digital property rights, has received funding to the tune of $3 million to spend on sales and marketing strategies. The funding round was led by HTC, Taiwan based smartphone manufacturer. China’s e-commerce company Alibaba, venture capital provider WI Harper and crypto centered investor Digital Currency Group also participated in the Series A funding round.

Phil Chen, decentralized chief officer at HTC, has stated that the company’s blockchain investments are at the center of its strategy of giving power back in the hands of users. Chen said: “Bitmark’s system for digital property rights greatly expands the promise of blockchain technology by assigning unique ownership for digital assets of all types. It’s an important step in growing the blockchain ecosystem and we look forward to their growth and success.”

Bitmark has achieved success with associates such as KKBOX, the largest music network in Asia, by offering its Bitmark Property System to save rights for music which is streamed digitally. Other organizations such as Berkeley, the University of California, pharmaceutical company Pfizer and tech firm H2 are also using the technology.


Huobi to back Whole Network

Popular cryptocurrency exchange Huobi is backing blockchain firm Whole Network that manufactures Acute Angle; a blockchain-powered smartphone. Acute Angle is planned to be launched in Southeast Asia next week. The latest blockchain phone is already made available to a handful of users in China. However, the official launch of Acute angle is planned for the coming week as portion of the sixth Huobi Prime launch. Acute Angle smartphone, priced at roughly $500, can be bought using Huobi’s native cryptocurrency Huobi Token (HT). The Whole Network’s NODE token will also get listed on Huobi Prime on September 11th.

By the end of this year, the smartphone is planned to be distributed throughout Southeast Asia. Whole Network also intends to expand its product offering to Europe and the US if the launch turns out to be successful. Livio Weng, CEO at Huobi Global, believes that blockchain-powered smartphones will lead to further innovation in blockchain sector.

“As the industry develops and as innovations like 5G become increasingly integrated into our telecommunications systems, we believe more and more crypto communities will want to trade and transact from mobile devices.”


PricewaterhouseCoopers to accept Bitcoin as payment method

PricewaterhouseCoopers (PwC), one of the Big Four consulting firms, intends to accept Bitcoin as payment from clients, beginning October 1st. PwC stated that the decision was taken as a response to increasing request from clients. The auditing firm stated that it firmly trusts blockchain technology, despite the challenges.

PwC said: “What is certain […] is that Bitcoin kept its promise as the first peer-to-peer payment mechanism that cannot be compromised and is based on a decentralized trust model.”

PwC Luxembourg refrained from providing details regarding its technology partner for processing Bitcoin. However, the firm stated that it has a partnership with a domestic regulated exchange to ensure top-notch payment experience to clients.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.



Sammy is our forex expert, with over 20 years experience in the financial sector, she will be keeping you up to date with the ups and downs of currencies around the world

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