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Peter Gabriel Invests in Blockchain Startup

Musicians have the resources to finance the things they support. Ordinary people try but often fail to have the required funding—which is why we tend to see celebrities investing in crypto and blockchain startups. The latest headline involving a celebrity moving into blockchain is as follows: Peter Gabriel invests in blockchain startup.

Peter Gabriel Invests in Blockchain Startup

You may remember Peter Gabriel as the former lead singer of Genesis, an English rock band formed in 1967.

Now, Gabriel, 68, is moving away from the music industry (so to speak) and into the blockchain industry. Specifically, according to a news release published on Wednesday, July 18th, Gabriel is investing in Provenance, a blockchain startup based in the United Kingdom.

It’s fitting that Gabriel has decided to invest in the technology, considering Genesis was a revolutionary, progressive band, and blockchain has a similar reputation.

Details on the Peter Gabriel Blockchain Investment

The news release didn’t provide a lot of detail, leaving a lot of questions unanswered. For instance, how much did Gabriel invest in Provenance? Perhaps we’ll get the answer to this question in the days to come, but for now, the figure remains unknown.

There are some things that we do know, though. First, Peter Gabriel has a tremendous amount of faith in Provenance.

In a statement, the English singer and humanitarian said that he is “convinced” that Provenance and the services it provides will “find a big role going forward” by “using [its] blockchain data system.”

Gabriel added that the service Provenance provides will “be of great use to the consumer,” and will provide an even “playing field for smaller, independent producers.”

Second, Gabriel isn’t the only one to invest in Provenance. Merian Ventures, Digital Currency Group, and Working Capital Fund have all invested as well, according to the news release.

So What is Provenance?

It’s all well and good to say that Provenance provides exceptional services, but do we know anything else about the blockchain startup? You bet!

Founded by Jessi Baker, Provenance aims to transform supply chain transparency. Specifically, since 2013, Provenance has been trying to create transparency in food transportation.

In the Wednesday press release, Provenance said that it plans to use its funding, and Peter Gabriel’s help, to build a supply chain platform that is entirely blockchain-based. By 2025, the platform will, says Provenance, be live and have more than 1,000 clients.

Crypto Celebrities

Peter Gabriel is not the only musician to get involved in the crypto and blockchain industry this year. Even those who aren’t investing in startups are showing their support to the sectors.

For example, at Consensus 2018, Snoop Dogg performed at the XRP Community Night.

Back in January, Katy Perry posted a photo on Instagram showing off her manicure, which happened to be crypto-themed. She called them her “crypto claws.”

There are other well-known figures moving into the sector too. In June, reports surfaced that Steve Bannon was transitioning into the crypto sector.

The Takeaway

Peter Gabriel invests in blockchain startup Provenance, but was it a smart move? I’d argue that it was—if he were investing in a crypto startup, it might have been a different story, though. But because blockchain is thought to succeed crypto in the future, Gabriel probably chose the right industry out of the two.

What do you think?

>> TRON (TRX) Now Supported on Ledger Nano S

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Crypto Second Half of 2018

Crypto Second Half of 2018: Investors were not pleased with the first half of 2018. While some focused on the S&P 500 (it’s up 1% YTD, instead of the usual 3.5%), others focused on cryptocurrencies.

In particular, investors watched Bitcoin, which notched up a 16- fold increase in 2017, only to drop by 55% between the start of 2018 and June 27th. 

Now, as of July 1, we are in the second half of 2018. Which means if things are going to change, now is the time to get going. But what if things change for the worse? Some speculate this might happen in the cryptocurrency industry. 

Crypto Second Half of 2018: Placing Bets 

A number of predictions have been made for crypto in the second half of 2018. From more regulation to more comments from Wall Street veterans, there is a lot of stuff up in the air about crypto Q2 2018. 

In this article, we’ll look at 3 specific crypto second half of 2018 predictions.

1: More Crypto Regulation 

Crypto regulation has been discussed on multiple occasions, and even though progress has been made, more needs to be done.

As a result, we should expect to see the Department of Justice (DOJ) increase its crackdown on illegal activity. 

2: More Guidance from the SEC

Moreover, the SEC is expected to provide more guidance on initial coin offerings (ICOs). This is important, as ICOs continue to garner more mainstream attention.

The reason we need more information is that many remain unclear about ICOs. Are they revolutionary, like some have said? Or, are they just another Ponzi Scheme, which has also been claimed? 

Others expect the SEC to answer the burning question of whether all ICOs are classified as securities in the second half of the year. If the SEC makes this announcement, we should expect to see fundraising slow down considerably.

>> Difference Between an ICO and a Cryptocurrency  

3: More Adoption on Wall Street 

In order for there to be wider Wall Street adoption of cryptocurrencies, the first two predictions on this list need to come true.

Large financial institutions will continue to stay away from cryptocurrencies and ICOs until the SEC clearly communicates its rulings on digital currencies. 

Take the example of Coinbase and Ripple (XRP). Sure, it makes sense for Ripple (XRP) to be listed on Coinbase, but the crypto startup has said publicly that it will never list XRP until the SEC has made its decision on the virtual currency. 

Additionally, regulators need to show that they can remove the criminal activity from the crypto industry. If these requirements are met, more traditional financial firms will enter the crypto space. 

>> Financial Institutions Already Involved in Crypto

Crypto Second Half of 2018: The Takeaway

Continued market volatility is also expected for the crypto industry, but this seems like a given. After all, even the most successful of stocks experience volatility from time to time. 

Do you have any more predictions for crypto? We’d love to hear them! Let us know in the comments below. 

Featured Image: Depositphotos/Konstantinp

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