Skip to main content

Leo Melamed: Bitcoin is not just a cryptocurrency

Emeritus Chairman of the Chicago Mercantile Exchange Group, Leo Melamed, said on Tuesday, bitcoin became a new asset class like stocks traded by big investors, not just digital currencies. Melamed responded to the CME announcement as the world's largest derivative market will launch bitcoin futures contracts.

Tinuku Leo Melamed Bitcoin is not just a cryptocurrency

Big investors will take part in a bitcoin future where the CME Group plans to start the exchange service by the end of the year. Melamed, 85, says bitcoin has become a new asset class funding not just an innovative payment tool.

"This is a very important step for bitcoin history, we will organize, make bitcoin not wild, we will tame it into ordinary trading instruments by regulation," Melamed said.

Bitcoin will surpass cryptocurrency and represent a new asset class based on blockchain technology that enables the transfer of assets without a centralized system such as banks and sharply reduces money transfer costs. Melamed was elected chairman of the CME in 1969.

"My whole life is built with new technology, I never say no to technology, people who say no to technology will die soon, I at least follow the change, that's what bitcoin says," Melamed said.

Comments

Popular posts

JD Logistics raised $2.5 billion led by Hillhouse and Sequoia

JD Logistics raised US$2.5 billion led by Hillhouse Capital and Sequoia China. The Chinese e-commerce giant and Alibaba's nearest rival will build a major logistics business after announcing JD.com units have raised the latest funding in which JD Logistics became an independent business in April at US$13.5 billion valuation.

JD Logistics announces the latest funding led by Hillhouse Capital and Sequoia China aims to raise capital. Participating in this funding includes China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International.


JD.com insists it will remain a shareholder of 81.4 percent. The company has unfurled a financial and business services arm where last year generated more than US$1 billion. JD Logistics is set to compete Cainaio which is backed by Alibaba's Ant Financial which takes 48 percent of the shares.

JD.com operates seven service centers and 405 warehouses in China. The company's netwo…

Zoomcar raised $40 million led by Mahindra and Mahindra

Zoomcar raised a Series C funding of US$ 40 million led by Mahindra & Mahindra. On-demand car rental service headquartered in Bengaluru, Zoomcar Inc, confirmed to have raised new funding including the sale of shares to Mumbai's auto giant Mahindra & Mahindra, where Ford and other investors also took part in the round,

Zoomcar CEO and co-founder, Greg Moran, said the Series C round is still open and can be extended to other investors who will participate in a US$170 million valuation. Mahindra & Mahindra confirmed it has invested Rs176 crore (US$27.5 million) in this latest round which gets 16 percent stake in share.


The latest C Series funding is US$24 million led by Ford in 2016 and an undisclosed investment from China's Cyber Carrier added at the end of the year. Other supporters include Sequoia Capital, Nokia Growth Partners, FundersClub and a number of angels including former U.S. financial secretary Larry Summers and former CFO Infosys T.V. Mohandas Pai.

Zoomc…

Internet users in Indonesia are 143.26 million by 2017, APJII reports

The Indonesian Internet Service User Association (APJII) reports the number of internet users in Indonesia is 143.26 million by 2017. The latest APJII survey concluded that internet users in Indonesia are dominated by people aged 13-18 years and still have internet infrastructure gaps between urban areas and rural.

APJII released the survey results on the penetration and behavior of Indonesian internet users in 2017 where the increase in number compared to the previous year. APJII also enforces age and area categories to map the user penetration levels in the survey. To know the total population of Indonesia is 262 million people.


"Internet users are up 10 million compared to the previous year (2016) of 132.7 million people.The youngest is the highest," said APJII Secretary General Henri Kasyfi Soemartono.

Internet users are dominated by 13-18 year olds and penetration rate is 75.50 percent. The top category is Kalimantan Island which has penetration rate at 72.19 percent, t…

Geely and Volvo unveiled new brand Lynx & Co and 01 SUV most connected car in the world

Tinuku ~ Lynk & Co 01 SUV allow owners easily start business to share vehicle. Chinese cars Geely announced new car keys sharable and open platform designed as the "most connected car in the world".

Geely inaugurates compact SUV using new brand Lynk & Co. The car projected as Geely products based on Volvo cars which specifically enable economic growth by sharing car accessed through digital lock.


The tech-heavy design as the most connected cars ever produced and based on Compact Model Architecture will used by brand Geely and Volvo to support future models including V40 hatch, S40 sedan and XC40 SUV.

Radical vision automotive future by launching Lynk & Co 01 SUV compact hybrid will invade market in 2017. Brand new crushing industry convention with digitization strategies, electrification, connectivity and enable third-party developers participation.



"The 01 is most connected car in the world. Designed for modern urban spectacle that is used for collaborative…

Know Various Types of Traditional Indonesian Batik Patterns

Tinuku ~ Various types of batik spread across the archipelago. Batik is art of painting using cloth has a pattern and a special way of making the write or paste on the fabric. By treatment with certain distinctive ways.

Batik is pictorial cloth made specifically by writing or applying wax to cloth and since October 2, 2009 batik has been designated as one of Indonesia's cultural heritage by UNESCO.

Everyone knows batik designs have supernatural powers and each motif worn only by specific users. Parang motif which symbolizes strength and power, should only be worn by rulers and knights. Batik of this type must be made with calmness and patience.


If you do wrong in the batik process, the magical power is lost. The process of making batik is full of philosophical meaning, batik is a meaningful symbols that shows how society thinks maker.

Perhaps you just know only one kind of batik design. But geography and area of Indonesia storing various types of batik motifs depending on region t…