Updates, recaps, and releases from Consensys and the dozens of projects within. Check the top tweets, events, videos, and reads from the past month. One project I've been checking out it Rimble under the Consensys Design arm.
Tether has only around $2.1 billion in cash and other securities to back the 2.8 billion USDT tokens, indicating that the stable coin was not backed 1-to-1 with U.S. dollars as Tether once promised.
Fiat-collateralized stablecoins like Circle and Coinbase’s USD Coin, are gaining in circulating supply since the recent Tether / Bitfinex scenario. USDC, and PAX saw increases of 14%, and 17% in circulating supply.
Philip Morris is working to use blockchain technology to track tax stamps on cigarette boxes, which are valuable, manually dealt with and easily counterfeited. That costs the industry and governments $100 million a year. The exec estimated that Philip Morris could save $20 million off the bat by automating processes and reducing fraud with the traceability and transparency afforded by a blockchain.
"Loom PlasmaChain now has the ability to verify and accept transactions signed by native Ethereum wallets — offering the most seamless user experience possible for Layer 2 DApp scaling."