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Remembering Lu Guanqiu, Chinese Blockchain Proponent

The founder of Wanxiang Group Corporation, Lu Guanqiu, passed away on October 25, 2017. The whole commercial community in China mourned his death.

The entire blockchain industry, especially those individuals and groups based in China, has every reason to remember Lu and his work through the Wanxiang Group. Wanxiang Group is a Chinese multinational automotive manufacturing company based in Hangzhou. Wanxiang has long been a proponent of distributed ledger technology, and has developed numerous blockchain-based entities, including Wanxiang Blockchain Labs and Wanxiang Chainbase Accelerator. It has organized the Global Blockchain Summit three times and has launched a venture capital firm targeting blockchain-based innovations.

Fenbushi Capital, a leading venture capital firm that supports blockchain projects around the globe is backed by Wanxiang.

Born on January 17, 1945, Lu was not only admired by Chinese entrepreneurs but also respected by China’s top leaders, as embodied by his accompaniment of former president Hu Jin Tao during his state visit to the U.S. in 2012.

Jack Ma of Alibaba, among others, expressed his condolences immediately, saying “the best way to memorize Mr. Lu is to pass on his entrepreneurship.”

2019 Investments in Crypto and Blockchain Startups at $850 Million

Source: Reuters

According to data compiled by Pitchbook for Reuters, venture capital investment in crypto and blockchain startups has reached $850 million so far this year.

EEA Launches 'Token Taxonomy Initiative'

The Enterprise Ethereum Alliance has announced a "Token Taxonomy Initiative" to develop universal definitions for tokens to encourage their interchangeability across blockchain platforms. Members of the initiative include Microsoft, R3, ConsenSys, IBM, EY, Accenture and Intel.

Gemini Adds Support for SegWit

Source: Gemini

Gemini Trust, a New York-based cryptocurrency exchange, has announced support for Segregated Witness (SegWit) addresses and transaction batching. As a result, customers can now use SegWit addresses for bitcoin deposits and withdrawals, ideally improving processing times and lowering bitcoin withdrawal fees.

Nestlé and Carrefour to Share Product Data With Consumers Via Blockchain

Source: Nestlé

Food producer Nestlé and retailer Carrefour will equip the packaging of a French instant mashed potato product with a QR code that provides blockchain-based data about its origins to consumers. The pilot was developed in conjunction with IBM Food Trust.