Written by Zach Quezada

Business Development  |  ICO Alert
August 24 2018

ICO Alert Crypto Minute August 22, 2018

Bank of Thailand announces plan for crypto project, fraudulent Ethereum app appears on Google Play store, Dash sees increasing popularity in Venezuela. 


Bank of Thailand Announces Plan for Crypto Project

On August 21, a press release from the Bank of Thailand announced their plan to develop Central Bank Digital Currency (CBDC). It will be a wholesale currency, meaning its use will be limited to financial institutions as opposed to general use in the public. CBDC will be built on R3’s Corda platform and Phase 1 of this project is expected to be completed in the first quarter of 2019.

Fraudulent Ethereum App Appears on Google Play Store

It was reported that nn app called ‘Ethereum’ recently emerged on the Google Play store claiming to provide 1 ETH to purchasers. In reality buyers only received an Ethereum logo. The app was priced at $388.14, well above Ethereum’s current price of roughly $280. It appeared to look more legitimate to buyers as the developer name was Google Commerce Ltd. It appeared that over 100 people have purchased the app.

Dash Sees Increased Popularity in Venezuela

Due to hyperinflation and lack of public trust in the state-backed Petro, Dash has seen an increase in wallet downloads. According to BusinessInsider, each month over 200 retailers have signed up to starting accepting Dash. The CEO of Dash, hopes that if it is successful in Venezuela, then it may be able to help other countries also dealing with hyperinflation.

Data courtesy of coinmarketcap.com as of 10AM EST
Data courtesy of coinmarketcap.com as of 10AM EST
Data courtesy of coinmarketcap.com as of 10AM EST
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Topics: Bitcoin, Cryptocurrency, Crypto Minute, Bitcoincash