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cryptocurrency May 4, 2018

In today’s Crypto Minute: Reddit Co-founder openly backs Ethereum, Ethiopia pursues interest in blockchain adoption, and South Korean plans to conditionally lift ICO ban.

Reddit Co-founder calls for $15,000 Ethereum by Year End

Alexis Ohanian, co-founder of Reddit, is extremely bullish on Ethereum. He thinks that Ethereum will take off when used as a base layer to develop the Web 3.0. He recently left his position at Reddit to invest in tech startups, particularly blockchain. Ohanian isn’t the only big name to endorse the technology — Nigel Green, CEO of deVere Group, is on the same page. Both claim ICO application development as their main reason for being so bullish.

New South Korean Bill Will Seek to Overturn ICO Ban

South Korea is aiming to conditionally lift the ICO ban inside its borders. However, the bill will only allow research centers and public-sector groups to initiate them. It will also only apply to new ICOs, not ICOs that have broken the law in the past. This is one way for South Korea to test out the ICO market with heavy regulatory oversight.

Cardano Pens Deal to Help Ethiopia Put Agriculture on the Blockchain

Charles Hoskinson, the co-founder of Ethereum and current Cardano lead, has expressed interest in helping African countries adopt blockchain. The initiative will help developers in the area learn how to use and implement blockchain. Ethiopia has signed a memorandum of understanding (not legally binding) in order to begin the relationship.

Source: ICO Alert