July 2018

Consulting Giant Accenture’s New Patent Reveals Plans for Blockchain Logistics Innovation

July 27, 2018 boss

Consulting giant Accenture has plans to use blockchain to upgrade its logistics network, a patent application published July 26 reveals. According to the document published by the U.S. Patent and Trademark Office (USPTO), the corporation wants to follow in the footsteps of various major players in leveraging blockchain to secure, speed up and increase the efficiency of logistics movements. “A device may receive an indication that a product has arrived at a destination. The product may have been shipped by an entity to the destination,” the patent’s abstract begins, elaborating:…

Capital Goods Giant CNH Industrial Partners With IBM on Long-Term Blockchain Upgrade

July 27, 2018 boss

One of the world’s largest capital goods companies has agreed to a multiyear deal with IBM to implement blockchain technology, a press release confirmed July 26. UK-based CNH Industrial, which owns twelve international brands including Iveco and Case IH, will seek to enhance a range of internal processes as part of “reviewing and optimizing its global activities.” “Areas that will be directly enhanced include Supply Chain and the inventory management of the Company’s Parts & Service business, which will deliver ever greater service to its customer base,” the release states.…

Top 10 Crypto Deals in 2017 Returned Over 136,000% on Average, Report Shows

July 27, 2018 boss

Research into the top ten crypto deals in 2017 based on their investment returns (ROI) has revealed that on average each returned over 136,000 percent, according to data shared with Cointelegraph by Crypto Finance Conference (CFC) analysts July 27. Out of all the crypto projects that raised a minimum of $1 million in 2017, IOTA (MIOTA) clinched a staggering 614,934 percent return for investors, sealing the top spot in the researchers’ rankings. IOTA is an Internet of Things (IoT)-focused crypto platform that uses a so-called Tangle system. The protocol is…

Crypto Markets Tumble as SEC Rejects Winklevoss Twins’ Second Bitcoin ETF Application

July 27, 2018 boss

Crypto markets have taken a sharp downturn, today, July 27, with all of the top ten coins by market cap hit by hefty losses and Bitcoin (BTC) dipping back below the $8,000 psychological price point, as data from Coin360 shows. The grim market picture is likely due to yesterday’s breaking news that the Winklevoss Twins’ application for a Bitcoin exchange-traded fund (ETF) has now been rejected for a second time by the U.S. Securities and Exchange Commission (SEC). Market visualization from Coin360 Bitcoin (BTC) is trading around $7,915 to press…

Japanese Conglomerate Hitachi Tests Blockchain for Retail Settlements

July 27, 2018 boss

Multinational conglomerate, Hitachi Ltd, and telecommunications operator, KDDI Corporation, have disclosed they are testing a blockchain solution that will see the biometric features of shoppers being used for authentication prior to settling retail payments. Initially, the coupon settlement system will be trialed at KDDI retail stores located in Tokyo and fast food outlets of the Mr. Donut chain. According to Hitachi, shoppers will register their biometric information as well as coupon credits when they enroll to use the system. This data will then be encrypted before being stored on the…

Bitcoin Retains Bull Bias Despite Price Drop to Below $8K

July 27, 2018 boss

Bitcoin’s (BTC) drop below $8,000 yesterday may have tempered the positive mood in the market, but the broader outlook still remains bullish, technical charts indicate. The overnight drop in price came soon after the Securities and Exchange Commission’s (SEC) second rejection of the Winklevoss brothers’ application for a bitcoin ETF. While the decision may have soured the sentiment in the market, the price pullback was also likely a function of overbought conditions. Notably, the short-duration price chart had warned of a dip below $8,000 yesterday. At press time, the world’s…

Crypto Exchange Coincheck’s Owner Monex Reveals Plans to Open US Trading Platform

July 27, 2018 boss

Online broker Monex Group, which bought out hacked Japanese cryptocurrency exchange Coincheck this spring, plans to launch a U.S.-based trading platform, Cointelegraph Japan reported today, July 27. A summary of data from a financial briefing held Friday confirms plans to establish TradeStation Crypto Inc. as a cryptocurrency-focused subsidiary of securities brokerage firm TradeStation, which Monex acquired in 2011. As Cointelegraph Japan reports, Monex CEO Oki Matsumoto also signalled Coincheck –– which Monex purchased in April for around $33 mln –– should begin functioning fully next month. Matsumoto had originally forecast…

Poloniex Is Officially in Trouble After Ignoring Hoards of Complaining Customers

July 27, 2018 boss

On July 25, the Department of Justice (DoJ) showed its interest in Poloniex — a Delaware-based cryptocurrency exchange platform — in a rather unexpected fashion: Chief Special Investigator of the Investor Protection Unit (IPU) Craig Weldon emailed a number of Poloniex users, asking them to respond if they have any difficulties with their account. The request wasn’t unjustified as, over the past few months, the exchange’s social media and support center accounts have been besieged by users who have been locked out of their accounts. Now, the DoJ has reached…

Platform to Allow Users to Spend Metal-Based Crypto Using a Debit Card

July 27, 2018 boss

A new monetary system is aiming to overcome the “severe price volatility” which has made cryptocurrencies unappealing to use as tender — creating two primary digital currencies which are based on gold and silver. Kinesis says these currencies — known as KAU and KAG — are based one-to one on allocated physical gold and silver. This means that the full, direct title to the bullion backing these coins is held by the person who owns the cryptocurrency. These coins can be loaded on to a debit card and instantly converted…