Video Digest, May 4: Goldman Sachs to Trade Bitcoins; Ford, BMW, Renault and General Motors to Adopt Blockchain Tech, FTC Plans To Host Consumer Protection Workshop

May 04, 2018 at 12:06 // News
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Coin Idol
Video Digest, May 4

Coin Idol TV News channel broadcasting a new video digest on May 4. Today in our digest: FTC Plans To Host Consumer Protection Workshop, Goldman Sachs to Begin a Bitcoin Trading Operation In Future, World’s Largest Automakers to Use Blockchain Tech in New Cars Soon.

Goldman Sachs to Begin a Bitcoin Trading Operation In Future

Goldman Sachs is currently moving forward with the plans of setting up what looks to be the first bitcoin trading operation at a Wall Street bank regardless of its own previous caution concerning the sector. It is almost trading with clients in a wide range of products that will be connected to the bitcoin price. While the Goldman won’t initially be trading actual bitcoins, a team at the bank is considering to take that direction if it can get regulatory approval and come to understand on how to deal with the supplemental risks associated with holding the virtual currency.

World’s Largest Automakers to Use Blockchain Tech in New Cars Soon

Four of the largest carmakers globally have amalgamated technology providers and startups to create the largest ever consortium focused on applying block chain technology in the automotive zone. Ford, B M W, Renault and General Motors are amongst 30 companies included in the Mobility Open Block chain Initiative.  Establisher members also include Bosch, I B M and Block chain at Berkely as MOBI said on Wednesday.

FTC Plans To Host Consumer Protection Workshop amid Rising Crypto Scams

The U S Federal Trade Commission is considering to hold a big workshop in June on crypto currency scams and fraud. The main objective of the workshop is to educate the people about the risks that are in the crypto sector. The regulatory agency cites an increase in "deceptive investment and business opportunities, deceptively marketed mining machines and bait-and-switch schemes."