University Of Michigan Investing More In Crypto

It has been reported that University of Michigan has joined a growing number of institutional investors that have made substantial investment into the emerging asset class.

The university’s crypto-related endowment is backed by Andreessen Horowitz, a giant venture capital firm.

According to official documents released in the schools website it will increase its investment in cryptocurrency venture fund.

The total endowment of the university is around $11.9 billion coming from thousands of individuals.

Similar to other higher educational institution only a small fraction of this endowment will be invested in crypto-related investments.

This is the similar approach of Yale University when it revealed that it invested a portion of their $25.4 billion endowment with Andreessen Horowitz which has a $300 million crypto fund.

Endowment received by universities like University of Michigan and Yale University will be used to pay for various university-related expenses such as grants and scholarships, professorships and other educational initiatives.

Last year University of Michigan invested in $3 million in crypto network called CNK Fund I, a fund that focuses on technology companies.

The school will increase its investment but have not indicated how much exactly.

Lackluster Demand For BTC Tax Payment In Ohio

Just a few months ago, the former treasurer of the State of Ohio made an initiative that would enable businesses in the state to pay their taxes with Bitcoin.

However the current Treasurer Robert Spargue reveals that since the program began only two transactions have accepted through the State’s BitPay-based platform.

According to the new Treasurer, they are already reviewing the program if they would want to continue with the service or expand it just 3 months of its existence.

He goes on to clarify that the state of Ohio is not accepting Bitcoin directly as the Bitcoins paid by the taxpayer is immediately converted in to the U.S. Dollar before being transmitting to the treasurer’s office.

Also, there has been some initiatives to make the Midwestern city into a blockhchain hub with the creation of Blockchain Cleveland.

OKEx Adds XRP And BCH On Its C2C Platform

One of the world’s largest crypto exchanges in the world in terms of transaction volume, OKex has recently added two new crypto assets into its Customer-to-Customer (C2C) Platform.

These new cryptos are Ripple (XRP) and Bitcoin Cash (BCH).

Users can now buy or sell these digtal assets to five supported fiat currencies which include British Pound (GBP), Chinese Renminbi (CNY) Vietnamese Dong (WNDI) Russian Ruble (RUB), and the Thai Baht (THB),

Currently, the C2C platform of OKEx supports Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Litecoin (LTC), with the new crypto addition brings the total of digital assets supported on its C2C platform to six.

There will be no significant changes in the platform with the addition of the two new assets.

The C2C platform is a relatively new feature in OKEx where customers are able to place orders with self-selected exchanges rates and various payment methods.

One of the key features of the services is its no transaction fees when using the platform.

The exchange will add new fiats in the future and will depend on the regulatory requirement of the fiat currency to be supported.

Reddit Co-Founder Believes Bear Market Shook Off Price Speculators

One of the founders of Reddit, Alexis Ohanian believes that the current bearish market was good for the crypto ecosystem.

He states that the crypto winter is food for the long-term investors and those who are hoping for genuine growth in the industry.

He goes on to say that it has erased cryptocurrency speculators.

The whole industry is still recovering from the bullish run that started on late 2017 and reached its apex at the beginning of 2018 during at which almost all crypto assets experience astronomical highs.

With no real reason for the bull run, no real adoption or real world integration yet at the time, pundits were warning investors that it was a bubble.

As the whole industry tries to grapple with the persisting bearish sentiments that we are still experiencing now, some influential personalities insist that what happened was a positive development for the whole ecosystem.

Ohona admits that the market is in a precarious position in terms of valuation but has managed to attract the right-minded developers while purging empty speculation.

University Of California Proposes Blockchain-Enhanced Clinical Data System

Researchers from the University of California are proposing a method of sharing medical data using a blockchain-based system.

The system is aimed at improving the traceability and immutability of collected clinical data to make it more trust worthy.

It also aims to enhance methods for reporting adverse events during research and improve record management.

To maintain digital integrity and immutability of data storage of the blockchain will be accomplished by duplicating and distributing the chain to physically separate machines and data warehouses.

This is the same method used by digital currencies like bitcoin to make sure that the ledger is always displaying the single version of truth in this case medical records.

Although records are immutable, the users can modify for correction of mistake but this will entail creating a new record of transaction for the updated medical record, the old record will still exist and will not be overwritten by the new corrected record.

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