Month: July 2018

Startup Launches ‘Complete Redesign’ of Blockchain to Address Scalability Concerns

boss

A U.S.-based startup has unveiled a blockchain which can store data as well as transactions — meaning clients no longer need to trust third parties with their data. Fractonet Innovation Technologies, or Fractonet, says its SHA-256-based  blockchain has a block size of 1.5 GB, and claims it is capable of handling more than 33,000 transactions per second with a block time of five minutes. To enable its Fracton Network blockchain to sync such big amount of data, a new communication protocol — RIFT protocol — has been developed. Each 1.5…

Chinese Research Institute Report Finds Blockchain Can Enhance Financial Services

boss

A Chinese scientific research institute and value-added Internet service provider Tencent Holdings have jointly released a July 24 report emphasizing the impact of blockchain on the transformation of traditional financial services. The Academy of Information and Communications Technology, a scientific research institute under China’s Ministry of Industry and Information Technology (MIIT), and China’s Tencent Holdings’ report includes eight core conclusions of blockchain implementation in the financial sector. According to the report, blockchain technology will further enhance “the transparency of financial transactions, strengthen the flexibility of system operation, and automate processes,…

Reddit Co-Founder Alexis Ohanian Upholds BTC $20K, ETH $1.5K 2018 Forecasts

boss

Alexis Ohanian, a co-founder of both Reddit and VC firm Initialized Capital, upheld his $20,000 Bitcoin (BTC) and $1,500 Ethereum (ETH) forecasts for 2018 in an interview with CNBC on July 24. Speaking of the “battle-tested” Bitcoin, Ohanian said the asset is “certainly the most robust” and “one of the best proofs” of crypto being a possible store of value — something he underscored as increasingly important in a global context of fiscal and political “uncertainty.” Ohanian noted that “as volatile as it’s been, we see [Bitcoin] continuing to go…

Bitcoin Seeks Bargain Buyers As Price Retreats Back Toward $8K

boss

Bitcoin’s (BTC) price has seen a $350 drop this morning from Tuesday’s two-month highs and may be headed for a short-term correction, technical charts suggest. As of writing, the leading cryptocurrency is trading at $8,220 on Bitfinex down 3.5 percent from the high of $8,507 reached yesterday. Today’s dip is not surprising and could be extended further as BTC’s 40 percent rally from the seven-month low of $5,755 reached on June 24 is still looking overstretched, as per the relative strength index (RSI). The short duration charts have also aligned…

Coinbase Takes on Cryptocurrency Gift Cards With Limited Rollout

boss

Major U.S. cryptocurrency wallet and exchange Coinbase has entered the crypto gift card market, allowing customers in certain countries to exchange coins for brand e-certificates, according to their July 25 blog post. In the post, Coinbase confirmed the new option was made possible through a partnership with UK-based startup WeGift, and will effectively allow cryptocurrency holders to pay for goods and services through brands such as Nike, Tesco, Uber, Google Play, Ticketmaster, and Zalando: “Starting today, Coinbase customers in the EU and Australia are able to instantly spend their cryptocurrency…

Is Blockchain About to Become a Patent War Battleground?

boss

Last week, news of at least three major players applying for blockchain-related patents emerged: Bank of America sought to legally protect its blockchain-based system allowing the external validation of data, Barclays filed two patent applications relating to the transfer of digital currency and blockchain data storage, while MasterCard’s application mentioned a form of a public blockchain-based method for linking assets between blockchain and fiat accounts. As blockchain technology continues to be one of the most discussed things in 2018 and a subject for mass adoption, the number of crypto-related patents…

Fortune Releases First-Ever Crypto-Focused ’40 Under 40′ Annual Rankings

boss

For the first time, Fortune has created a crypto-focused version of its prestigious “40 under 40” honor roll for the most impressive young disruptors in the finance and technology industry, published July 23. Dubbed “The Ledger 40 under 40,” the list is dedicated to innovators at the helm of the “financial revolution” ushered in by cryptocurrencies, blockchain, and other distributed ledger technologies. Last week, five crypto industry representatives had already clinched four spots on Fortune’s existing “40 under 40” — all of whom reappear in the inaugural Ledger list. These…

Everledger’s Leanne Kemp on How to Enable Marketplaces with Fair Pricing

boss

This interview has been edited and condensed. Leanne Kemp is the founder of blockchain platform Everledger, which tracks high-class assets like diamonds in order to reduce fraud and promote more viable marketplaces. Cointelegraph spoke to Kemp about how the service’s role as a global digital registry can help ensure ethical trade across a variety of assets. In the interview, Kemp explains how she considers Everledger’s role to be an anchor between the crypto space and the “real world,” providing a provenance platform to develop sustainable practices across the diamond industry.…

Who Are the Brightest Minds in Crypto Featured Among Fortune’s ‘40 Under 40’

boss

The world of finance is driven by some of the greatest minds out there, but every year we see new faces pop up on the list of the industry’s most influential. This month, Fortune released their list of ‘40 under 40,’ a compendium of the most influential figures in the global business space. The usual suspects featured in this awe-inspiring group include Instagram’s co-founder and CEO Kevin Systrom, Facebook CEO Mark Zuckerberg and AirBNB co-founder Brian Chesky, to name but a few. The list also features prominent leaders of some…

Bitcoin Price Watch: BTC/USD Hits $8,500, Eyes Correction

boss

Key Points Bitcoin price extended gains and traded close to the $8,500 target against the US Dollar. There is a short-term ascending channel in place with support at $8,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains in an uptrend, but it could correct a few points towards $8,200 in the near term. Bitcoin price climbed further towards $8,500 against the US Dollar. BTC/USD remains supported on dips near the $8,300 and $8,200 levels. Bitcoin Price Analysis This week, we discussed about Bitcoin…