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Ethereum Co-founder Lauds Qtum and VeChain, Welcomes SEC Ruling

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Ethereum co-founder Anthony Di Iorio has sung the praises of two of China’s fast-growing blockchain ventures Qtum and VeChain.

Source: Thought Catalog/Unsplash

In an interview with Bloomberg, Di Iorio stated, “The biggest stake for me is in Qtum and VeChain right now, the two Chinese projects. There’s much more opportunity in newer ones if you can identify them.”

Although Qtum is officially based in Singapore, much of its team operates out of China. The Qtum platform makes use of Bitcoin’s core fork and Ethereum’s smart contract system. Earlier this month, Qtum announced it would re-start its marketing efforts, which it had put on ice after the sweeping Chinese crypto crackdown initiated in September last year.

VeChain, meanwhile, is a company that implements blockchain solutions for the supply chain, and is currently involved in a blockchain-powered project to trade authentic French wine in China. The company says it will release a mobile wallet next month that will let account holders trade ERC20-standard tokens without using an exchange.

Di Iorio also commented on the remarks by director of corporate finance William Hinman at the U.S. Securities and Exchange Commission, who recently said hat Ethereum is not to be considered a security, and therefore does not fall under the jurisdiction of the US financial regulator. Di Iorio noted, “When we set it up and launched it, we were pretty comfortable that it wasn’t a security. It’s great to get the reaffirmation that it’s not.”

Di Iorio’s comments came after news broke this week that the crypto-billionaire had splashed out on a three-storey Toronto penthouse worth USD 21 million. The 1503 sqm penthouse is part of the former Trump International Hotel & Tower complex in the city’s central business district.