July 10, 2018

Crypto Markets Seeing Red, Total Market Cap Down Almost $15 Bln

July 10, 2018 boss

Monday, July 9: crypto markets are mainly seeing red today, with total market capitalization down almost $15 billion from yesterday’s high, according to data from Coinmarketcap. Market visualization from Coin360 Bitcoin (BTC) is down 1.49 percent over the 24 hour period, trading at $6,672 at press time, according to the Cointelegraph price index. Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index Ethereum (ETH) has seen bigger losses over the past 24 hours, down 3.46 percent, and trading at around $467 at press time. Ethereum price chart. Source: Cointelegraph Ethereum Price…

Chinese Regulator Warns Against “Mythologizing” Blockchain

July 10, 2018 boss

The head of the international department of the China Banking and Insurance Regulatory Commission has warned against “mythologizing” blockchain technology, news outlet South China Morning Post reported July 9. Speaking at the 5th Fintech Bund Summit in Shanghai on July 8, Fan Wenzhong argued that although blockchain is “an innovation with significant meaning,” it is a disservice to “mythologize” the technology. Fan reportedly said that it is difficult to admit blockchain as a “revolution,” because the idea of multi-entry bookkeeping has been circulating for hundreds of years. Fan stated that…

Walmart Turns to Blockchain to Ease Package Delivery Woes

July 10, 2018 boss

With delivery being one of the most challenging aspects of online retail, Walmart is looking to solve the puzzle one blockchain patent at a time. On July 5 the Bentonville, Arkansas-headquartered big-box retailer was awarded a patent detailing an invention focusing on the delivery of packages as well as scheduling the delivery of these packages. Titled ‘Delivery Reservation Apparatus and Method” the patent which was filed early last year talks of delivery hubs (locker docking station) which use a public ledger to determine available capacity and make reservations. Reserving Capacity…

Metal Concentrates Exchange to Form Blockchain Consortium for Minerals Trading

July 10, 2018 boss

Online physical commodities exchange Open Mineral is planning to build a consortium of mining companies and financial organizations to develop a blockchain-based mineral trading system, according to a press release July 9. Switzerland-based Open Mineral has partnered with U.S. decentralized applications (DApp) developer ConsenSys to set up Minerac, a blockchain project focused on improving mineral trading and supply chain logistics. The company explained the necessity of introducing blockchain to the industry, stating that “logistics are complex, financing is difficult to acquire and the entire process is very paper heavy.” As…

Crypto Could Become Mainstream Means of Payment Within Next Decade

July 10, 2018 boss

A new study has found that cryptocurrencies like Bitcoin (BTC) have the potential to become a mainstream means of payment and already meet one of the three main criteria of money, according to an eToro press release July 9. The study mentioned in the press release was a joint effort by Imperial College and U.K. trading platform eToro. The report dubbed “Cryptocurrencies: Overcoming Barriers to Trust and Adoption,” written by professor William Knottenbelt from Imperial College London and Dr. Zeynep Gurguc from Imperial College Business School, states that cryptocurrencies are…

Delaware Awards IBM $738,000 Contract to Develop Prototype Blockchain Filing System

July 10, 2018 boss

Delaware, in its bid to provide a good legal and regulatory environment for blockchain technology, has awarded a $738,000, single bid contract to IBM to build a prototype for a blockchain based corporate filing system for the state, according to delawareonline.com. Delaware’s corporate franchise business contributes more than 25% of the state’s revenue. Blockchain advocates in Delaware claim the technology’s safety will enable the state to levy higher document filing fees, and that Delaware will surpass other states in business registration activity. Former Gov. Jack Markell told startups and investors…

Ethereum (ETH) Technical Analysis: Sergey Ethereum Mining Surprise

July 10, 2018 boss

In the last day, Ethereum (ETH) has been on a slide losing three percent rejecting higher highs above $500. Even though we are net bullish, chances are ETH sellers might push lower below $450 triggering our sell trades with targets at $400 and $350. From the News Sergey Brin is the ninth richest man in the world with a net worth of approximately $52 billion. He’s also the co-founder of Google, now Alphabet-a multi-billion dollar company he founded with Larry Page. So, this guy is rich, occupies a position of…

IOTA, EOS, Litecoin, Stellar Lumens, EOS Technical Analysis

July 10, 2018 boss

The slide seems to pick up even as bullish reversal pattern print out in weekly charts. EOS, IOTA and Litecoin are experiencing resistance to upsides. In my view, and in light with the general bearish trend, sellers might take control today and push prices towards immediate supports. Let’s have a look at these charts: EOS Technical Analysis EOS Daily Chart by Trading View Like Ripple (XRP), price stability of EOSIO RAM is important for the very existence of the network. As it stands and according to Dan Larimer, the price…