Day: July 18, 2018

Stellar Becomes ‘First’ Sharia-Certified Blockchain for Payments And Asset Tokenization

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Stellar, an open-source platform for distributed payments, is reportedly the first distributed ledger protocol to obtain Sharia compliance certification in the money transfer and asset tokenization field, according to a Stellar blog post published July 17. The Shariyah Review Bureau, a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has examined the capabilities and applications of Stellar and released guidance that allows for the deployment of Stellar technology in Islamic financial institutions. With the certification, Stellar will ostensibly be able to enhance its ecosystem in regions…

3 Signs Bitcoin’s Move Above $7K Might Just Hold

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The world’s largest cryptocurrency by market capitalization exploded in price Tuesday, jumping $600 in 30 minutes to break away from what had been suppressive bear market conditions. But entering Wednesday, bitcoin is changing hands at $7,370 and showing signs it might continue its ascent. In fact, when viewed on longer timeframes, it appears that the trend is changing, this time in favor of the always-optimistic bulls. But just how reliable is this move? So far, there are three general tools traders are using to analyze the markets in a quest…

Litecoin Founder Says in ‘Best Case’ Recent Bank Stake Could Result in Crypto Services

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Litecoin founder Charlie Lee posted on Reddit today, July 17, to clarify his position within the Litecoin Foundation and the future of the Foundation following its acquisition of a stake in German bank WEG Bank AG. In his post, Lee mentioned the possibility of the bank offering crypto services. Last week, the Litecoin Foundation acquired a 9.9 percent share in WEG Bank through a new strategic partnership with crypto-fiat payments firm TokenPay. In exchange for providing its blockchain, logistics, and marketing expertise to TokenPay’s crypto and business operations, Litecoin received…

China Sees 454% Increase in Companies with ‘Blockchain’ in Name

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Today’s $1,000 bitcoin price rally aside, the cryptocurrency market might be enduring a bear cycle triggered by vanishing consumer interest, but blockchain, it seems, is still big business — particularly in China. Citing government data sourced from Chinese-language outlet Qixin, the South China Morning Post reports that, from Jan. 1 to July 16, 3,078 China-based companies have filed to include qukualian, the Chinese word for blockchain, in their names, up from just 555 in all of 2017. In the past calendar year, 16,600 newly-registered firms have included blockchain as part…

Japan Revamps Financial Regulatory Agency to Address Issues in FinTech, Cryptocurrencies

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Japan has overhauled its financial regulator, the Financial Services Agency (FSA), in order to better deal with fintech-related fields, including cryptocurrencies, news outlet Nikkei Asian Review reported July 17. Changes were made to various bureaus in order to make the organization more suited to address new problems and challenges in the financial sector. Starting today, the newly created Strategy Development and Management Bureau, which replaced the Inspection Bureau, will reportedly develop a financial strategy policy and handle issues addressing the digital currencies market, fintech, and money laundering. Additionally, the bureau…

XRP Technical Analysis

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On a weekly basis, XRP is up 14 percent as buyers continue to reverse their two month losses and syncing with April’s rally. As it is, buyers are in charge and poised to gain more thanks to the resurgent ETH and Bitcoin hauling prices from key support line. From the News For once, put aside the drama, the divorce case between Ripple the company and XRP created by Ripple Labs and focus on the real deal: The value proposition that you the investor will directly benefit from. It’s what makes…