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December 17, 2018


Facebook Blockchain Arm Booms, Even Amid Crypto Bear Market

Just months ago, David Marcus, the former president of fintech giant Paypal, was appointed as the inaugural head of Facebook Blockchain, the social media giant’s first stab at so-called “internet 3.0” innovation. But since Marcus’ appointment, many have been puzzled, as Facebook’s blockchain division has seemingly disappeared off the face of Planet Earth. In a testament to this confusion, the Menlo Park-headquartered corporation has only fleeting referenced its newfangled branch, specifically through the incessant stream of Facebook job opportunities posted via LinkedIn.
Yet, an exclusive report from Cheddar, an up-and-coming business media outlet, has revealed that Facebook’s “small” blockchain consortium has been bolstering its defenses behind closed doors. Citing those familiar with the matter, the outlet’s Alex Heath and Tanaya Macheel explained that nearly 40 employees, which consist of blockchain developers and former members of Paypal’s top brass, now work within the walls of the little-known program. In the exposé piece from Cheddar, it was also divulged that two former key members pertinent to the Instagram project had jumped onto the blockchain bandwagon.
And the social media powerhouse doesn’t seem poised to pause its blockchain efforts, even in spite of the Bitcoin market rut. Facebook has reportedly shot representatives across the globe in a search for potential team members at crypto-centric events. Such efforts to find talent haven’t been deemed enough, however, as Facebook Blockchain’s staffing recruiters and chiefs have also reached out to leading cryptocurrency projects in an attempt to poach promising employees.
Related Reading: The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing
Pomp Bets Facebook “Builds The Most Used” Crypto Product
But while Facebook evidently means business, not much is known about the blockchain spoke’s inner workings and long-term ambitions. Crypto industry commentators have speculated that Facebook could be seeking to put pertinent segments of its social media platform on (de)centralized ledger technology, while others have speculated that a digital identity platform is in development.
Still, at a private rendezvous hosted by Facebook, attendees purportedly told Cheddar that the firm has intentions to launch a “decentralized digital currency” that would be aimed at its expansive user base. And interestingly, while the latter plan sounds the most ambitious, multiple reports have nearly verified that a token could be in development at Facebook’s new department. Speaking on the matter of a cryptocurrency or digital asset backed by Facebook, explaining why such a venture is logical, Drew Hinkes of New York University told Cheddar:
“They have a massive installed user base… They probably are looking at China and seeing how popular mobile commerce has been there and wondering why we can’t do that.”
Regardless, no matter the form that Facebook’s first crypto or blockchain offering takes, many are sure that it could turn this industry right on its head. Morgan Creek Digital partner Anthony Pompliano, known across Twitter for his hate for banks, and advocacy for cryptocurrencies, recently “bet” that the American internet juggernaut will build the “most used product in crypto.”
Related Reading: Morgan Creek Digital Makes $1 Million “Buffett Bet 2.0” Crypto Wager
Although this shouldn’t be exactly surprising, especially considering Pompliano’s former role at Facebook and the firm’s global influence, his comments took many aback, as Facebook accentuates the hallmarks of centralization in the eyes of cynics.
Not The Only Corporate Player On The Blockchain Block
Facebook isn’t, by any means, the only multinational institution to further its foray into blockchain technologies. As reported by NewsBTC, Paypal, the widely-used payments network, recently begun an in-house initiative centered around company-branded crypto assets. This system, which some have jokingly dubbed “PaypalCoin,” allows employees to garner, trade, and exchanges tokens for rewards, dubbed “experiences,” that include martial arts classes with CEO of Paypal, Dan Schulman.
Although this system was likely made in good fun, the fact of the matter is that if Paypal finds value in cryptocurrencies, the firm may seriously consider rolling out products surrounding this asset class in due time.
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The post Facebook Blockchain Arm Booms, Even Amid Crypto Bear Market appeared first on NewsBTC.

Ethereum Price Weekly Analysis: Upsides in ETH Remains Capped Near $98

Key Highlights

ETH price declined recently and traded towards the $80-81 support area against the US Dollar.
There was a break above a major bearish trend line with resistance at $84 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair may continue to move higher, but it could face sellers near the $98 and $100 levels.

Ethereum price failed to gain bullish momentum versus the US Dollar and Bitcoin. ETH/USD remains a sell near the $98-100 resistance area in the near term.
Ethereum Price Analysis
This past week, ETH price started a downside move after trading as high as $98 against the US Dollar. The ETH/USD pair declined below the $90 and $84 support levels. The decline was such that the price traded close to the $80 support level. Later, the price recovered above $82, but it is still well below the 100 simple moving average (4-hours). Buyers recently pushed the price above the 23.6% Fib retracement level of the last decline from the $98 high to $80 low.
Moreover, there was a break above a major bearish trend line with resistance at $84 on the 4-hours chart of ETH/USD. The pair is currently trading above the $85 level, but there are many hurdles on the upside near the $89, $90, $95, $98 and $100 levels. An initial resistance is $89 and the 50% Fib retracement level of the last decline from the $98 high to $80 low. However, the main resistance is near the $98 level and the 100 simple moving average (4-hours).

The above chart indicates that ETH price might move a few points above $85 and $90. Having said that, it is likely to face a strong selling interest near the $98-100 zone. On the downside, the main supports are at $81 and $80.
4-hours MACD – The MACD just moved positively in the bullish zone.
4-hours RSI – The RSI recently jumped above the 50 level.
Major Support Level – $80
Major Resistance Level – $98
The post Ethereum Price Weekly Analysis: Upsides in ETH Remains Capped Near $98 appeared first on NewsBTC.

Bitcoin Price Weekly Analysis: BTC’s Short Term Rebound Likely

Key Points

Bitcoin price traded to a new yearly low at $3,126 and later corrected a few points against the US Dollar.
There was a break above a key bearish trend line with resistance at $3,220 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair may perhaps correct higher in the short term towards the $3,320 or $3,380 resistance.

Bitcoin price is forming a short term base near $3,120 against the US Dollar. BTC/USD is likely to test the $3,380-3,400 resistance zone before declining once again.
Bitcoin Price Analysis
This past week, bitcoin price remained in a slow and steady downtrend from the $3,640 high against the US Dollar. The BTC/USD pair traded lower and broke the $3,400 and $3,320 support levels. The decline gained pace and the price traded to a new yearly low at $3,126. Later, it consolidated above $3,126 for a few sessions before correcting higher. It moved above the $3,200 resistance, but it is well below the 100 simple moving average (4-hours).
During the rise, it almost broke the 23.6% Fib retracement level of the last slide from the $3,642 high to $3,126 low. Moreover, there was a break above a key bearish trend line with resistance at $3,220 on the 4-hours chart of the BTC/USD pair. However, it seems like buyers are struggling to gain pace above the $3,250 level. The first hurdle for buyers is near the $3,320 level (the previous support). The next is $3,380 and the 50% Fib retracement level of the last slide from the $3,642 high to $3,126 low. A successful break above $3,380 and the $3,400 is needed for buyers to gain bullish momentum.

Looking at the chart, BTC price could correct higher towards $3,380, but more upsides won’t be easy. On the downside, the $3,200 and $3,126 levels are decent supports, followed by $3,000.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is slowly moving in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is just near the 50 level.
Major Support Level – $3,200
Major Resistance Level – $3,400
The post Bitcoin Price Weekly Analysis: BTC’s Short Term Rebound Likely appeared first on NewsBTC.

Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada

Over the past 72 hours, bomb threats attempting to extort Bitcoin (BTC) from business owners and governmental agencies have taken the world by storm, affecting thousands across Canada, the U.S., and New Zealand. Although the threats have begun to recede from the limelight in the western world, the issue may only be getting started across the Pacific Ocean in Asia.
Hong Kong Targeted By Bitcoin Bomb Threat
According to an exclusive report from the South China Morning Post (SCMP), an English news outlet centered around Asia’s happenings, bomb threats requesting BTC have arrived in the inboxes of a number of Hong Kong firms. As Michael Gazeley, CEO of Network Box, burned the candle on both ends on Friday, he purportedly saw a foreboding message land in his business email, telling the SCMP that he was “shocked.” This message was, of course, a threat from an anonymous group(s) asking for $20,000 U.S. worth of cryptocurrency in an apparent shakedown.
If the specified sum, dubbed a “security fee” by the group(s), wasn’t sent to the sender’s address, the terrorists claimed that they would bomb Network Box’s offices. In an interview with the outlet, Gazeley, obviously perturbed by the occurrence noted:
“This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.”
Yet, the cybersecurity expert went on to add that he was 99.999 percent confident that the message wasn’t worth its water, so to speak. Gazeley drew attention to the layout, language, and the poor grammar contained within the email — accentuating that this message is nothing more than a poor attempt at a money grab scheme.
Hong Kong authorities have yet to comment on this odd Bitcoin-related case, so it remains to be seen how many businesses came under fire. Yet, a representative from the IT branch of Hong Kong’s legislative council lambasted this new scam format, stating that “scammers need to be smarter,” making it clear that such a form of extortion is ineffective and baseless.
Canada, U.S. Also Hit With Issue
This news comes just days after this same issue struck businesses throughout North America. As reported by NewsBTC previously, on Thursday, a number of places of work, public places, stores, and pertinent landmarks were targeted by the same scam outlined above. Although police departments, namely New York’s, have made it clear that such emails hold no credence, a number of firms purportedly closed up shop as a preemptive security measure.
A number of subway stations in Toronto, Canada’s largest city, purportedly shut down operations due to the threat. A community hospital in Hillsboro also decided to temporarily shutter its operations. Per The Verge, even Infinity Ward, the development company behind Call of Duty, had also made a conscious decision to evacuate its headquarters. Seeing that no explosions have occurred at locations targeted, it can be assumed that these threats have lacked legitimacy since day one.
Featured Image from Shutterstock
The post Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada appeared first on NewsBTC.

Another Day Another New Low For Crypto Markets

FOMO Moments
Crypto markets dump to new lows again; Bitcoin Cash, SV, nearly dead, Litecoin surviving.
As predicted yesterday crypto markets have dumped to a new low during intraday trading. A minor recovery during the week could not be sustained and total market capitalization has fallen to a new low of $101 billion a few hours ago.
Bitcoin led the drop when it fell through support at $3,400 a couple of days ago and kept going back down to a new 2018 low of $3,205 at 22.00 UTC. A quick bounce took it back to $3,250 but Bitcoin is still at its cheapest price for 16 months.
Needless to say Ethereum has also been smashed dropping to a low of $83 before recovering back to a very weak $85. The rest of the altcoins are all in pain during Asian trading today. The top ten is a sea of red and as usual the Bitcoin Cash twins are getting hammered with BCH dumping 10% and BSV 12%. EOS and Litecoin have stopped falling at the time of writing but the rest are down a couple of percent.
The top twenty is all in the red also with Monero and Nem getting hit the hardest dropping around 7% each. The rest are down 2-4 percent since yesterday and are at rock bottom prices for the year.
There are only two altcoins getting a fomo pump at the moment, Waves and Revain are up about 10% right now. Syscoin has entered the top one hundred with a big pump today but it is likely to do the exact opposite tomorrow. DEX is getting smashed at the other end of the table with a 40% dump on the day. MobileGo is also having a bad day with a 20% drop.

Total market capitalization is down another 3% on the day and is currently around $103 billion. A new 2018 low was made a few hours ago of $101 billion and as things stand market cap will be double digits very soon. Over 9% has been lost from crypto markets since last weekend and almost 45% since the same time last month. The selloff does not seem to be abating and things are not even stabilizing at a bottom – down is the only direction for cryptocurrencies at the moment.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
The post Another Day Another New Low For Crypto Markets appeared first on NewsBTC.

Bitcoin Sets Fresh 2018 Low at $3,200, Altcoins Plunge

Following its recent period of instability, Bitcoin has now plunged to new 2018 lows and has sent the altcoin markets spiraling downwards. Today’s drop has led the overall cryptocurrency market capitalization down to $102 billion, a level not seen since August of 2017.
At the time of writing, Bitcoin (BTC) is trading down nearly 6% at its current price of $3,230, down from its 24-hour highs of $3,430. Bitcoin’s previous 2018 low was set on December 7th when it fell to just under $3,300.
Analysts Expect Bitcoin to Fall Below $3,000
The market’s current instability is leading to a general consensus among analysts that it is only a matter of time before Bitcoin falls below the important psychological price level of $3,000.
While speaking about Bitcoin’s current price action, Nick Cawley, an analyst at Daily FX, said that based on his technical analysis, Bitcoin’s short-term price action is leading it towards $2,970.
“Bitcoin looks set to fall below $3,000 in the short-term with the $2,970 Sept. 15, 2017, swing-low the next target. Below here, horizontal support at $1,760 off the July 18 [2017] low comes into play in the longer-term.”
DonAlt (@CryptoDonAlt), a popular cryptocurrency analyst on Twitter, told his nearly-80 thousand followers that he also expects BTC to dip into the $2,000 region, with a good buy target being at the $2,700 level.
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think 2.7k is an excellent place to buy if we should go there,” he said, further adding that right now is not the best place to add new short positions.
Altcoins Plummet Amidst Bitcoin Instability
Bitcoin’s instability has led the vast majority of altcoins to plummet, with Bitcoin Cash and Stellar Lumens leading today’s market plunge.
At the time of writing, Bitcoin Cash (BCH) is trading down 15% at its current price of $82, setting a fresh all-time-low. Ever since Bitcoin Cash’s hard fork event on November 15th, the cryptocurrency has been spiraling downwards, and is showing few signs of fundamental strength as it drifts lower.
BCH’s hard fork offshoot – Bitcoin SV (BSV) – also dropped significantly today and is currently trading down nearly 11% at its current price of $74.8. BSV is currently behind Bitcoin Cash’s market cap by over $100 million.
Stellar Lumens (XLM) is currently trading down over 11% at its current price of $0.098, and just set a new 2018 low around its current price levels.
XRP is currently trading down nearly 6% at its current price of $0.287 and is trading at levels not seen since this past September. It is important to note that XRP is still trading above its 2018 low, which was set at approximately $0.24 this past August.
Featured image from Shutterstock.
The post Bitcoin Sets Fresh 2018 Low at $3,200, Altcoins Plunge appeared first on NewsBTC.

CoinShares Exec: China Crypto Plan Could Make Dystopian Future a Reality

Bitcoin was designed in the wake of the 2008 global economic crisis as a way to take control over money away from central authorities such as governments, banks, and other traditional systems. The decentralized design could also prevent communist countries like China from establishing control over their citizen’s money.
However, the very technology powering crypto may be arming central authorities with even more control over the population and their money, which CoinShares Chief Strategy Officer Meltem Dimirors says may “slowly” be making her “dystopian nightmares” a “reality.”
Government Control Undermines Crypto’s Original Intention
In a tweet this morning, CoinShares Chief Strategy Officer and Head of Treasury Meltem Demirors shared her fears that recent moves by governments like Venezuela and China, could be bringing her “dystopian nightmares” closer to “reality.”
Related Reading | Venezuelan President Orders Banks to Adopt Petro
Demirors is referencing both Venezuela forcing its citizens to transact with the country’s native, oil-backed cryptocurrency token, and China’s plan to introduce its own digital currency that it will use to monitor and control the usage of its citizens.
China To Eliminate Cash, Control The Public Through Digital Currency
Not only will China begin using their own digital currency, but according to Fan Yifei, the deputy governor of China’s central bank, the People’s Bank of China (PBoC), the new digital currency will also entirely replace cash. Without fiat paper currency Chinese citizens will have every transaction closely monitored and will be subject to the government’s control.
Former PBoC governor Zhou Xiaochuan set the project in motion before retiring earlier this year, as a means to avoid China relying on Bitcoin or other current cryptocurrency protocols. Since then, the PBoC has registered nearly 80 patents related to the native cryptocurrency they are developing.
Related Reading | China Could Destroy Bitcoin to Make an Ideological Statement
Patents suggest that both businesses and individuals alike will have to convert all of their yuan into the new native digital currency using a mobile wallet. Yifei published an article earlier in the year that outlined that banks would be required to submit a daily log of transactions, which would allow the Chinese government to keep tabs on every transaction every individual or business makes, even capping the amount of transactions any individual could make on a given day.
China’s control extends beyond their own native cryptocurrency as the country has outright banned cryptocurrency exchanges, events, and more.
China has even been said to have “strong motive” and “capabilities” to destroy Bitcoin entirely. In a frightening report, researchers from Princeton University and Florida International University called China the “most powerful potential adversary to Bitcoin.”
Since Bitcoin is in “ideological opposition” to China’s communist policy, the country could be motivated to attack it. Worse-yet, much of the Bitcoin network’s hash power is centralized in China due to the abundance of miners there taking advantage of low energy costs.
The post CoinShares Exec: China Crypto Plan Could Make Dystopian Future a Reality appeared first on NewsBTC.

Teen Bitcoin Millionaire: “Bitcoin is Pretty Much Dead”

One of the youngest cryptocurrency success stories has a rather bleak outlook for the leading digital asset, Bitcoin. Erik Finman became a millionaire in his teens by investing money that his grandmother had gifted him, starting as early as 2011.
At the height of the Bitcoin bull market of 2017, Finman’s stack was worth an impressive $4 million. There is no indication just how much much of this he still holds, however.
Erik Finman: Bitcoin and Litecoin Dying, Ether, BCH, and Zcash Show Promise
Erik Finman hit headlines this January for his remarkable story. Starting in 2011, the then 12-year-old was buying cryptocurrency with some money his grandmother had given to him. According to a report in Market Watch, by catching on to the technological innovation early, the teenager was able to turn just $1,000 into over $4 million.
Despite being the cause of his success, Finman is now of the opinion that Bitcoin is in trouble:
“Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last… It may have a bull market or two left in it, but long-term, its dead.”
Interestingly enough, much of the infighting within Bitcoin has actually died down since the August hard fork last year, which created Bitcoin Cash. This is because many of those arguing for scaling by increasing the size of the blocks themselves left the community to support and use the offshoot currency, evangelised by Roger Ver and Craig “Fake Satoshi” Wright.
Bizarrely, the teenage investor believes that Bitcoin Cash is actually a better bet than the original Bitcoin. He told the publication that it had great technology but had been marketed terribly. It seems strange that Finman would critique Bitcoin’s infighting and be more optimistic about Bitcoin Cash when it was the latter that has just undergone a far uglier hard fork than that of last August. This recent incident involved threats of 51% attacks and plenty of other mudslinging.
Perhaps Finman simply has not been paying the space quite as much attention as he once did since his portfolio exploded into seven figures. Perfectly understandable given his age but it still seems odd that he thinks he has any authority on the matter given how detached his statements are from reality.
As mentioned, Bitcoin’s infighting has calmed immensely over the last year and a half. Infrastructure development is occurring at an unbelievable pace too. This includes institutional offerings from the likes of Bakkt and Fidelity, as well as improvements to the protocol itself in the form of Lightning Network. This is literally night and day to what is happening over at Bitcoin Cash right now.
Other projects that Finman believes have a better chance of survival are Ethereum and Zcash. Meanwhile, he states that Litecoin is certainly all but toast:
“Litecoin has been dead for a while,” he said. “It’s like when the sun is going down and there’s that eight minute period just before it goes dark. Litecoin is in its seventh minute.”
Related Reading: Crypto Community Responds to Fake Satoshi’s “F**k You” Email to Roger Ver
Featured Image from Shutterstock.
The post Teen Bitcoin Millionaire: “Bitcoin is Pretty Much Dead” appeared first on NewsBTC.

Bakkt and Intercontinental Exchange CEOs Weigh in About Bakkt

Bakkt CEO, Kelly Loeffler, and the Intercontinental Exchange chairman, Jeff Sprecher, recently spoke to MIT Media Lab’s Michael Casey at CoinDesk’s Consensus: Invest Conference. The chat was broadcast via the “Inside the ICE House” podcast earlier today.
The two CEO’s talked in depth about their plans for the much-anticipated Bakkt platform, including what makes it different to other products already out there today, and why it will only focus on Bitcoin to begin with.
Will Bakkt’s Federally Regulated Price Discovery be Good for Bitcoin?
The conversation between Loeffler, Sprecher, and Casey began with a simple enough question: Does price matter to you?
Loeffler responded first that it made little difference to the use of digital assets what they were priced at. The CEO went on to muse about the future of crypto more generally, particularly set within the context of the current bear market:
“When I think about what we’re doing at Bakkt what our peers in this space are doing, what all of you in this room are doing, I think about the headline’s today, ‘Will Digital Assets Survive?’ and I’d say the unequivocal answer is ‘yes’.”
This led smoothly on to perhaps the most oft-repeated topic of conversation during the presentation. Both Loeffler and Sprecher hold that the most important thing Bakkt would bring to digital currency was fully regulated price discovery for the first time ever. This, the pair agreed, was the primary focus of the platform. Sprecher stated:
“We develop systems where there can be transparent and competent price discovery.”
Loeffler added that institutions needed certainty before they would take the plunge into the world of cryptocurrency. One way of achieving such certainty was by being fully regulatory compliant at the Federal level – something that Bakkt is keen to achieve.
Another way to inspire confidence from the various institutions that the ICE networks with is by having a price discovery method that is free from manipulation. Since Bitcoin is the only digital asset currently recognised by the US government as a commodity, it is uniquely placed to be offered to institutions on such a regulatory compliant platform.
How is Bakkt Different From Other Products Around Today?
The conversation moved to addressing how the Bakkt platform would differ from other exchanges or financial products, such as the CBOE and CME futures contracts launched last December. Loeffler spoke first on the topic:
“At ICE, we’re the largest exchange operator in the world, we operate a dozen exchanges across US, Europe, Asia, Canada, clearing houses. So, we’re connected institutionally around the world to the largest traders of all asset classes.”
Sprecher added that the Bakkt exchange platform will also use its own clearing house. Since everything is going to be entirely pre-funded, there is expected to be far less leverage risk. This clearing house will has also have its rules set by a risk committee comprising of some of the US’s largest financial institutions. These are the same rules that will be taken for the approval of the US government. The hope is that the acceptance of the rule set from such prestigious names will encourage them to offer their approval. This in turn will inspire confidence in the Bakkt platform for investors.
The conversation then moved to Starbucks’s involvement in Bakkt. Loeffler stated that they were also highly interested in helping to put digital assets to use in the real-world. This is something Starbucks was interested in exploring too, so the partnership made a lot of sense. She added that other big names had expressed interest in working with Bakkt in a similar capacity too:
“Since that announcement we’ve heard from others that want to do that.”
Recommended Reading: BitPay CEO: Fidelity and Bakkt Will Drive Next Major Bitcoin Rally
Featured Image from Shutterstock.

The post Bakkt and Intercontinental Exchange CEOs Weigh in About Bakkt appeared first on NewsBTC.

The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing

Although the crypto markets are caught in a persisting bear market, blockchain jobs are in a raging bull market, with blockchain developer job growth topping this year’s LinkedIn Emerging Jobs Report.
The report, which was released by LinkedIn on December 13th, analyzes the fastest growing jobs in the US, and notes that the blockchain industry was the fastest growing job market in 2018.
Crypto Crashed, But Blockchain Still Thriving
Although the cryptocurrency markets have faltered throughout 2018 and are currently sitting at their lowest price levels since mid-2017, the blockchain development industry is thriving.
The LinkedIn report notes that in the United States, blockchain developer jobs saw 33x growth in 2018, significantly more than the second fastest growing job of machine learning engineers, which grew by 12x throughout the year.
The report notes that within the blockchain development sector, the most widely sought-after skills are knowledge and experience with Solidity (smart contracts), blockchain technology, Ethereum, cryptocurrency, and Node.js.
Within the market, most of the demand for workers with skills and a knowledge base in the aforementioned technologies stemmed from three main companies, including IBM, ConsenSys, and Chainyard, and three main cities, including San Francisco, New York City, and Atlanta.
Although the demand for blockchain developers is incredibly high, the crypto rout has undeniably stagnated this growth, as many companies in the blockchain sector have been impacted by the market crash.
ConsenSys, who LinkedIn notes as being one of the biggest blockchain employers, recently underwent a company restructuring that resulted in 13% of the company’s staff being cut.
The restructuring, which has been dubbed as “ConsenSys 2.0” by the company’s leaders, will result in more rigorous milestones and will lead to increased focus on the projects with the most long-term potential, while the more experimental and risky projects will be cut.
Blockchain Industry Not Going Anywhere
Although the blockchain industry may be starting to feel some pressure resulting from the cryptocurrency market crash, it still has a significant amount of growth ahead of it.
Recently, MouseBelt, a blockchain and ICO accelerator service, funded UCLA’s first accredited blockchain engineering course, which will start in January of 2019. The course will be for undergraduate students with an interest in computer engineering and will be considered by the university as a 4-credit special topics course.
In the past, students have had access to blockchain and cryptocurrency courses through the Anderson School of Management, but this is the first course that is actually being offered by UCLA to undergraduate students.
Although the cryptocurrency market’s current situation looks dire, the growth in the blockchain job market and the advent of new blockchain-centric courses from top universities signals that development in DLT tech, which is inexorably tied to crypto, continues pushing ahead and that the best is still yet to come.
Featured image from Shutterstock.
The post The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing appeared first on NewsBTC.

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