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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.”

ETH Price Analysis: Why Gains Are Being Lost

Distributed Summary:

  • ETH-USD failed to break overhead resistance in the $160 range. This coincided with a failed retest of the supply and demand channel as the market saw a strongly overbought condition.
  • We are currently stuck between support and resistance, but it seems very likely that we will see a retest of the low $90s before any potential bullish pressure hits the markets. If, for whatever reason, we begin to rally, we need to see a decisive, strong close above the $160 level before any macro-trend-changing behavior is seen.

Bitfury Launches Music Project on Exonum and Bitcoin

Bitfury, a developer of blockchain-based hardware and software products, has announced a new initiative: Bitfury Surround. The project aims to build an open-source platform that streamlines operations in the music entertainment industry.

ING Partners With R3 to Adopt Corda Enterprise Blockchain

Distributed Summary:

  • Over five-year partnership, ING plans to leverage applications built on R3’s enterprise blockchain platform
  • Bank receives “unlimited number” of licenses for Corda Enterprise
  • Could mark a significant financial use case for distributed ledger technology

Bitcoin Now Available Through Coinstar Kiosks Nationwide

Distributed Summary:

  • Coinstar and Coinme team up to offer bitcoin-for-cash transactions at grocery stores around the country
  • Twitter users have shared photos of the on-screen process