The Decrypt Daily: Bitcoin & Cryptocurrency News Podcast - Oct 7: Ripple Moving Out of the USA?, BMW Rewards on the Blockchain, SOV National Crypto

Follow The Decrypt Daily Twitter: @decryptmedia Website: Decrypt.co Follow me on : Twitter: @TheDecryptDaily IG: @heDecryptDaily Ripple Executive Threatens Move Out of US Over Regulations https://decrypt.co/44138/ripple-executive-threatens-move-us-regulations SEC’s Hester Peirce Plots Safe Harbor 2.0 Proposal for Crypto Startups https://decrypt.co/44134/secs-hester-peirce-plots-safe-harbor-2-0-proposal-for-crypto-startups Inside the Marshall Islands’ New Cryptocurrency: The SOV https://dec

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Content Keywords: health insurance blockchain Sherman Chris Larsen
00:00:00
From the Crypt Castillo this Matthew Aaron today on the show Ripple threatens to move out the US kucoin reopens Bitcoin deposits and withdrawals and BMW is launching a black shame bass Rewards app in Korea now coming up today to decrypt a lie.

00:00:19
Everyone how you doing? Today is Wednesday, October 7th 2020 and I spend most my morning shopping for health insurance, which is the most complex convoluted thing. I've done in a long time. So I have all these plans lined up and I don't even know what I'm trying to do or trying to compare trying to buy go see a general practitioner for a hundred something dollars, but they discounted 70% He's in its $125, but you don't pay that. We pay a hundred bucks if that you paid twenty-five want you to tell me it was 25, but then there's co-pays and my premiums and my membership fee is a membership fee plus in my bowl is $3,000, but then they pay up to x amount of it's just insane how complex and convoluted this process is so total monthly premium is $370 a month $370 a month. So I got me thinking, how can we do Healthcare on the blockchain? I really don't know why but Healthcare on the blockchain probably things you can do so I was also thinking like

00:01:19
We do Kobe on the blockchain. Like how come you've helped covid-19 any other thing, you know, they don't you know, when you have a hammer everything looks like a nail. This is what we do here. Everything looks like a nail because we're talkin cryptocurrency and blockchain is maybe contact racing on the blockchain. Well, if I had a lot of really don't know that let me know send me an email Matthew Aaron at a crypto Ico. Nevermind don't send me an email if your health company cuz I don't care about your health insurance. Unless you're going to make it for free single-payer system healthcare for all that's what I advocate for and that's enough of that. You're are the crypto prices.

00:01:54
Dorito Money Talks Wireless at 2 p.m. Eastern Standard Time Bitcoin is sitting at $10,624.27 down 9% from yesterday. If Syrian $338 even lowest price since September 23rd down 3.5% from yesterday Litecoin 4621 down 2.9% from yesterday chain link 882 down 4.2% from yesterday. Xrp 24.8 cents down 1.5% from yesterday down across the board of little bit of a bloodbath the market cap for all cryptocurrencies 335.2 billion dollars with a BTC dominance of 58.7%

00:02:42
And for the news today, you're just stuck with me. So be prepared for a rant a commentary over my two sense or something the news report executive phrase to Value ass over-regulation reflective Sherman Chris Larsen said today that his company based in San Francisco could move abroad if the US doesn't create regulatory environment that allow cryptocurrency companies to compete globally. He said the quote to be honest with you or even look at relocating our headquarters to a much more friendly jurisdiction and quote. He goes on to talk about how that in Asia or in Europe. You have the advantage of capital markets and regulators and innovators all the same city in the United States. That's not the case where you have a New York investors, Washington, Utah lawmakers in Silicon Valley Tech entrepreneurs, they don't understand each other all in different places, but his birth of my two cents while living in Taiwan. I know that they are very very adamant and trying to make a huge moves in trying to attract International businesses over to Taipei in other cities within Taiwan even creating a Sandbox for Tech startups, especially blockchain startups to move to Taipei.

00:03:42
You even give them cash and tax advantages so that they can set up shop in Taiwan. I bet there's a lot of places around the world that are doing this but when people like Elon Musk and others are moving out of California and seeing that they will remove and relocate and also building factories around the world. We have to take a close look at what's happening over in Silicon Valley and don't forget there are Estates Wyoming being one of them that are taking regulations by the horns, Wyoming kind of not too funny, whatever but taking regulations by the horns to make sure that it is friendly for Innovation. Maybe we should look closely at what Chris Larson is saying

00:04:18
They just like a previous news. This next news also comes out of the LA blockchain Summit SEC commissioner house there. A k a Crip Platz Safe Harbor 2.0 proposal for crypto startups Pokemon is planning an update proposal to give crypto startups of Grace. Plus. She discusses the Unicorn settlement and challenges of regulating defy. She's on the record saying there are some real potential for some major and Revolution exchange coming out of defy double challenge the regulatory structure in a number of ways. We are going to have to ask a lot of really difficult questions about what that means and about how we regulate things. She could clue Hester Peirce also noted that she's open to negotiations and says that she is willing to tweak security laws as a remedy rather than simply just push ahead with her Safe Harbor proposal that means please sit at the negotiating table list all crypto. Let's talk innovation.

00:05:10
And guess who's getting a new crypto-currency the Marshall Islands and it's called the sov. It's a fully-fledged a back rub for crazy set to launch within the next few months. It's meant out the island nation and its Reliance on the US dollar sfb Technologies is set to get 7.5% of the monetary supply for the work of creating the blockchain and cryptocurrency. They state that are not in the business of pumping and dumping which with 7.5% of the monetary Supply could be a dump for this nationally backed cryptocurrency and to prevent against that they are locked up for 5 years after it's launch.

00:05:44
Europa Report said the cryptocurrencies are still exploited for a number of crimes by legitimate crippled activity has increased faster than illegitimate crippled activity crimes are still commonplace so crimes as sextortion theft and more sophisticated dark web interactions all make use of crypto. But I want to please refer everybody back to the podcast that I did last week about all of the money being laundered through traditional Banks and we're talkin not Millions not billions, but trillions of dollars using the traditional Finance system. So there's that

00:06:23
Well, as we all know kucoin was hacked cuz it's 426 for 280 million dollars exchange trading. They stop everything. They don't want things moving around out in the markets from their seen so they can vote they can do a PR response. First of all, secondly start tracing, where are these coins when and from which wallets and well they have to figure out where the vulnerabilities were. So they just stop everything kucoin is opening back up and they're starting to trickle in deposits and withdrawals gradually opening up to ramp back of trading and related news. Kucoin has found that hackers who stole the 280 $1000000 in crypto asset to a tea before. It's actually 281 that one just sent it around anything, but I don't know why it's a million dollars a lot of money anyway, so if you want to know more about who the CEO of kucoin thinks is the hacker and has a quote substantial proof for the culprits of the massive hack link is below.

00:07:23
In the show notes and just a random thought you guys know the movie Starship Troopers. Remember the parts where they had like the news headlines and they say do you want it no more. That's what I feel like every time I refer you to the show notes for more articles on the crib. It's like and this is the headline blah blah blah. Do you want no more links in the show notes. Just how I feel Starship Troopers great movie theater scene it classic classic.

00:07:48
And my favorite news of the day BMW is launching a black Team Bass Rewards app in Korea electric car maker said users will be reported based on their purchases. They make and can redeem points for various benefits like discounts or accessing private events. So how much will you get for Newton first time buyers of BMW models, you can receive anywhere from 300000 to 900000 points for Frisch's for example of 5 series or 6 series need to 900,000 but like an exterior that connects to Baby route 302 600,000 the company said anyway, that makes no sense because how much is a point nine hundred thousand points. Is that what is that even mean, but I think it's cool and was also really cold out is BMW Korea noted that wild Avengers offer only will be for a Korea the program will eventually be launched globally. I feel that these rewards programs on the Block scene or just their points mean you could do this in a centralized system everywhere has a reward points at least give them a stamp card at BMW buy a car. You got to stand for something Ruby Tuesday apps collect all six are for free. I don't know latte or something. Anyway, what's good about this is I think that it is.

00:08:48
A bridge to something more in the future because I want to see how the blockchain system of work and some kind of basic reward system is a very low hanging fruit something they've already done before that. They already probably have existing or have a lot of reference to so they can start using botching. But once you have black paint integrated into an app where the system or whatever then you can get rewarded for all kinds of a different things mileage driving data what you're listening to on the radio many different things you can get incentified for a while. You're driving down the road using blockchain in micropayments and so on and so forth. So what I'm hoping is that this is just not a reward system on the blockchain catchphrase. Haha. This is so cool, but it's actually a way from Andhra text to technology to see what is capable of for them to roll it out in more like an Internet of Things using your car and incentivizing people for different things and driving habits or referrals or did they all inclusive app that can gamify the whole Driving Experience?

00:09:48
NW really cool. Let's see what they do with it. But that is my top news of the day. I have never said what my top news of the day was before and probably never again, but there you have it. That's my top news of the day and I know you're not asking but my favorite BMW is the M8 competition. It's sick. It's sick.

00:10:08
Thank you for listen to this episode to decrypt daily. Remember head over to the Apple podcast podcast app And subscribe is a 5-star rating and a great Comet helps to go find this show when they're like those big coins are I want to get some of those big coins in a make money in Innovation and Technology Moon and Lambos then when they put all that stuff into the search bar, and we were to find the show again. Thank you for listening and I'll see you tomorrow. Happy Holi everybody.
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