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
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
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, 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.