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U.S. Congressman Suggests “Do Blockchain” and “Wall Coins” to Fund Border Wall

Distributed Summary:

  • Ohio State Representative Warren Davidson throws out blockchain-based fundraising to construct wall between U.S. and Mexico border
  • Floats the cryptocurrency name “wall coin” in seemingly offhand remark
  • Demonstrates awareness, if not sophisticated understanding, of blockchain-based fundraising and incentivization

A sitting member of the House of Representatives has proposed creating a cryptocurrency to raise funds for a massive wall along the Mexican border.

The notion of building a wall encompassing the entire U.S.-Mexican border has been a fraught one for years and gained new controversy when Donald Trump promised to complete it (and have Mexico pay for it) during his campaign for the presidency.

But a new proposal for funding the wall emerged during a recent interview on NPR, when Ohio State Representative Warren Davidson floated some of his own radical ideas to pay for construction.

“You could do with this sort of, like, crowdfunding site,” Davidson said. “Or you could even do blockchain, and you could have wall coins.”

Apparently an offhand remark, the comments did not demonstrate a sophisticated understanding of blockchain technology or many details about how a “wall coin” cryptocurrency would incentivize investment any better than, say, a Kickstarter.

“You could even accept Mexican pesos,” added Davidson.

Though it is always encouraging for advocates of decentralization to hear federal representatives throw out the term “blockchain” as a solution to complicated problems, these comments seem unlikely to amount to any real action in the future of a border wall.

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