Blockchain Report 10/9/18: Yale Gets Into The Blockchain Game!?

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Welcome to The Blockchain Report, your daily rundown for the latest in crypto, with your host, Taylor Nikolai.

Want 400 million dollars? Yale is investing in crypto. $400 million dollars to be exact. According to Ethereum World News, Yale university is part of an investment group that is helping to raise $400 million for a massive cryptocurrency fund. According to anonymous sources, Yale is investing in cryptocurrency through the Paradigm Fund. A Bloomberg report found that 60% of Yale’s investment capital in 2019 was for “alternative investments.” Venture capital, hedge funds, and leverage buyouts. Now, crypto is on that list.

Paradigm Fund will first start out by investing in early stage cryptocurrency-based projects, novel blockchain designs, and digital asset exchanges. Even though crypto’s in a bear market, crypto exchanges are making a TON of money still. So it’s no surprise that Yale wants in on that cash.

Next up, according to Cointelegraph, Lithuanian authorities are holding a seminar that is examining the “threats and potential benefits” of Initial Coin Offerings to the economy of Lithuania. The meeting was organized by The Financial Crime Investigation Service, or FCIS. Authorities are calling for tougher anti-fraud mechanisms

Antonio Mikulsk, head of the FCIS, said: “Virtual currency has huge cash flows, but (there are) worries about converting them into dollars and euros as quickly as possible, (and) leaving virtual currencies as quickly as possible.” So basically, Lithuania is going to start looking more closely at crypto transactions.

Next up, the Japan’s Prime Minister has appointed a pro-blockchain politician. According to Cointelegraph, Takuya Hirai, a prominent pro-blockchain politician, has been appointed as Japan’s Minister of Science, Technology, and IT. He was one of the creators of a law that legalized cryptocurrency exchanges in Japan last year. His job as Minister of Science, Technology, and IT will consist of overseeing official government policy towards financial technology.

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