News Update: 20/07/19

Let the world know

             1.Bakkt Bitcoin Futures Testing Launch Date Approaches

             2.Apple co-founder chooses Malta for new blockchain company

             3.NEO and Ontology Partnership Eyes Global Cross-Chain Blockchain Platform.


1.Bakkt Bitcoin Futures Testing Launch Date Approaches

Bakkt, the Intercontinental Exchange’s crypto platform had informed via Medium post on June 13, 2019 that they will be launching physically-backed futures contract in July. At that time Bakkt CEO Kelly Loeffler did not say precisely when the products would trade, but added they will begin testing them in July.


But the expected date for User Acceptance testing for Bitcoin Futures has been announced as 22 July.

“On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will start user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.


COO Adam White wrote in the blog post,” This is no small step. This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.”


bakkt bitcoin futures user acceptance testing



How it can affect Bitcoin Prices-

Since this is just a User Acceptance Testing hence there is no much impact expected from this event.


When can Real trading begins-

While there is no date announced it is expected that official trading can begin in late in the last quarter of the year, however that will certainly depend on upcoming User Acceptance Testing for Bitcoin futures.



2.Apple co-founder chooses Malta for new blockchain company

Steve Wozniak, co-founder of American tech giant Apple, has invested in a new blockchain-based company headquartered in Malta. Wozniak is currently the co-founder of EFFORCE, A new organization based on blockchain and focussing on vitality efficiency, The News was published in newspaper times of malta on July 18,2019.


Wozniak said,” Blockchain will improve the way in which we use energy and lower energy consumption without changing our habits.  “I have wanted to be part of Malta for ages in my life,” Wozniak said.


matla delta summit


He said the company, Efforce, is a platform for investors to profit from energy efficiency projects.

“EFFORCE is a unique business model and we can greatly affect  the enterprise.” He also said the ability of the government to invest in blockchain has been very important for the company to choose Malta.


Presenting the occasion was CEO of the Delta Summit Abdalla Kablan, who said that last year’s event was the best technology event of 2018. He additionally said that it will be back again this October and it will be “the crown jewel of tech events universally.”


3.NEO and Ontology Partnership Eyes Global Cross-Chain Blockchain Platform.

Two of the big Chinese blockchain firms, NEO and Ontology have announced a partnership that will see them collaborate to build up an interoperable protocol. The News was tweeted by  Neo and Ontology  .


According to press release NEO and Ontology will recalibrate their particular strategic focuses to completely using interoperability protocols. In that capacity, NEO will concentrate on creating protocols and components to support a full range of digital resources while Ontology keeps on to build a future-proofed, decentralized identity framework.


neo and ontology partnership


Speaking on this partnership, Da Hongfei, Founder of NEO and CEO and Founder of Onchain, remarked that, “This partnership represents the next step for not only NEO and Ontology but also the future of the blockchain industry as we pioneer a collaborative approach to solving tough problems. By building the foundation for a global cross-chain platform, we look forward to delivering real-life solutions and uses for blockchain by surmounting challenges and issues together. As we enter our next development phase, we hope to further accelerate industry growth by synergizing our strengths as China’s top two blockchain projects while also encouraging more projects and companies to join us in building the foundation for the next-gen Internet.”


Key Features of NEO and Ontology’s interoperability protocol

  •  Eco-friendly approach to member chains:
  •  Low barrier of entry:
  •  Transactional atomicity:
  •  Enhanced security:


NEO and Ontology purpose to use their respective strengths to come up with a protocol that commands full interoperability. NEO is entrusted with building protocols and components that will bolster the full spectrum of crypto resources. On the other hand, Ontology will concentrate on building on the decentralized identity framework.

As NEO and Ontology move to deepen their cooperation, both parties look to usher in a new era of blockchain development through their industry-first partnership. Moving forward, a white paper regarding the interoperability solution will be released in Q3 before the platform goes live in Q4. As the platform develops, both parties are pioneering a collaborative approach towards realizing next-gen Internet as part of their smart economy vision.

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