Day: July 3, 2018

Zug’s Head of Comms Calls City Blockchain Voting Test a ‘Success’, Despite Low Turnout

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The Swiss city of Zug’s first local blockchain-based municipal vote has been successfully completed, the Swiss News Agency reported yesterday, July 2. Zug, also known as Crypto Valley, announced plans to trial a blockchain voting system using the city’s digital ID (eID) system, launched in November 2017, that allows citizens to vote on their mobile devices. Dieter Müller, the head of communications for the city of Zug, told the Swiss News Agency that “the premiere was a success” and that the technical details will be examined over the next few…

$7K Ahead? Bitcoin Charts Appear Constructive Short-Term

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Bitcoin (BTC) is flashing green, having convincingly scaled a key technical resistance Monday, and looks set to test the $7,000 mark in the next few days. At press time, BTC is trading at $6,575 on Bitfinex – up 3.4 percent in the last 24 hours. The short-term bearish-to-bullish trend change, as indicated by BTC’s break above the significant obstacle of $6,450, will likely entice investors to bargain-hunt, thus creating an upward pressure on BTC prices. Hence, BTC could rise to $7,000 in the short-term and extend into further gains if BTC’s…

IBM-Powered Blockchain Platform Completes First Live Trades Via Five Major Banks

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European blockchain trading platform we.trade confirmed it had completed its first live operations today, July 3, involving twenty companies and five major banks. The blockchain platform, which claims to provide a “more efficient and cost effective way” for banks and businesses to trade worldwide, uses IBM’s Blockchain Platform, powered by Hyperledger Fabric. Part of various blockchain solutions currently under appraisal by the banking sector, the platform counts Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit as its founding members. Together, according to Dutch institution Rabobank, the…

Xiaomi Denies Authorization of ICO Token That Pegs to Its IPO

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Smartphone maker Xiaomi said it has not authorized and has no connections to an initial coin offering scheme that is selling a token which is said to peg to Xiaomi’s stock price in its upcoming initial public offering. The Chinese smartphone maker is currently scheduled to go public on the main board of the Hong Kong Stock Exchange on July 9. Aiming to raise $4.7 billion, Xiaomi’s IPO is seen as one of the most notable public offerings in Hong Kong this year. And the anticipated IPO appears to have…

Crypto Market Adds $40 Billion as Bitcoin, Ether and XRP Record Major Gains

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The cryptocurrency market has added more than $40 billion within a 48 hour period as major digital assets bitcoin, ether, Ripple, and Bitcoin Cash recorded gains in the range of 5 to 10 percent. XRP, BCH, EOS, and Cardano Best Performers Ripple (XRP), Bitcoin Cash (BCH), EOS, and Cardano (ADA) have been the best performing major digital assets on July 3. Cardano recorded a daily increase of 16 percent while EOS saw a 13 percent rise in value. All of these major digital assets have performed particularly poorly against the…

UK Food Safety Watchdog Successfully Trials Blockchain in a Slaughterhouse

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The UK government’s food safety watchdog has completed a successful trial of blockchain technology for meat inspection in a supply chain. The Food Standards Agency (FSA) has concluded a successful blockchain pilot tracking meat from a cattle slaughterhouse, labeling it ‘the first time blockchain has been used as a regulatory tool to ensure food compliance in the food sector’. The pilot involved an unnamed slaughterhouse whose meat was tracked on a permissioned blockchain. Data recorded on the decentralized ledger was accessible by both the FSA and the slaughterhouse as permissioned…

The Russian Military Is Building Blockchain Research Lab to Combat Hacks

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The Russian Ministry of Defense is launching a research laboratory that will explore how blockchain technology can be used to bolster national security by preventing hacks on military infrastructure. Russia’s military technology accelerator, called “ERA,” is overseeing the construction of the lab, which will test if blockchain can be used to detect and prevent cyber attacks and enhance the military’s cyber-security measures, according to Russian newspaper Izvestia. Alexei Malanov, an anti-virus expert at Moscow cybersecurity firm Kaspersky Lab, believes the technology undergirding bitcoin can be used to trace the origins…

Bitcoin Price Watch: BTC/USD in Clear Uptrend

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Key Points Bitcoin price extended gains and broke the $6,400 resistance zone against the US Dollar. Yesterday’s discussed bullish flag pattern was breached with resistance at $6,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded above the $6,600 level and is placed nicely in a bullish zone. Bitcoin price jumped above key barriers against the US Dollar. BTC/USD may continue to move higher towards the $6,800 level in the near term. Bitcoin Price Analysis Yesterday, bitcoin price started a downside correction after trading…

Ethereum Classic Price Analysis: ETC/USD Could Break $18

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Key Highlights Ethereum classic price traded higher and broke the $16.00 and $16.40 resistances against the US dollar. There was a break above a key bearish trend line with resistance at $16.05 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is now placed nicely above the $16.40 support and it could accelerate gains towards $18.00. Ethereum classic price is placed in a bullish zone against the US Dollar and Bitcoin. ETC/USD is likely to move further higher towards the $18.00 and $18.50 levels. Ethereum…

Bankers Tout Trade Finance as the Sweet Spot for Blockchain

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Even if blockchain fatigue may have set in among bankers, there’s at least one use case they’re still clearly excited about: trade finance. At least, that was the impression given at the Blockchain Summit in London this week, where a range of bankers talked enthusiastically about the digital trade finance platforms they are building and the cost reductions they believe will result. Perhaps most notably, Amit Varma, the CTO of Citibank, was unusually vocal and specific in describing the savings his institution expects the technology to bring to the chain…