Day: August 9, 2018

US Software Giant Intuit Awarded Patent for Processing Bitcoin Payments via SMS

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U.S. software company Intuit has been awarded a patent for processing Bitcoin (BTC) payments via text message (SMS), according to a filing published by the U.S. Patent and Trademark Office (USPTO) August 7. The patent, which outlines a system through which users can transfer BTC funds via sending an SMS on their cellphones, was originally filed in 2014, the same year that Intuit’s DIY tax solution QuickBooks partnered with BitPay to create a PayByCoin service for business clients to pay their invoices in BTC. As the patent outlines: “The invention…

Ethereum Classic Is Down 30% Since Its Listing on Coinbase

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The price of ethereum classic (ETC) has depreciated more than 30 percent against the U.S. dollar since its listing on Coinbase. Prior to the August 7th listing date, ETC’s price surged on two recent occasions, the first of which began on June 11th when Coinbase announced its intention to add ethereum classic to its platform. ETC’s price went from $12.19 to $16.40 over the next 48 hours, printing a 34 percent gain.   The next and most dramatic boost began on August 3rd, following another announcement from Coinbase which stated that…

Maersk, IBM Launch Blockchain Shipping Supply Chain Platform

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IBM and Danish transport and logistics giant Maersk have launched their global blockchain-enabled shipping solution, according to an official press release today, August 9. The new jointly developed blockchain solution revealed 94 organizations involved and 154 million shipping events already captured. The global supply chain platform has been dubbed ‘TradeLens,’ and its dataset is reportedly growing at a rate of close to one million shipping events a day. According to the press release, the platform is able to track critical data about each shipment in a supply chain in real…

Stop ‘Overreacting’, Crypto Hedge Fund Vet Tells Bitcoin Investors

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As the founder of the first U.S. cryptocurrency hedge fund, Dan Morehead has seen his share of bitcoin bear markets. Speaking with CNBC on Wednesday, the Pantera Capital CEO said that he has a simple message for bitcoin investors selling into a market that has already experienced a 67 percent decline from its all-time high: stop overreacting. “The main thing to remember is that bitcoin is very early-stage venture, but has real-time price feed — and that’s a unique thing. People get excited about the price and overreact,” said Morehead,…

Which Countries Are Best to Start Blockchain Projects?

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Bitcoin’s boom has spawned more than just a digital currency revolution. Companies across the globe have explored the potential of blockchain technology in a range of different spheres, including cars, phones, and a multitude of disruptive alternatives in banking, government and as well as shipping. Also, it is not only the small startups that are trying to push blockchain innovation, but rather conglomerates as big as Amazon, Alibaba and Microsoft. However, these companies are still trying to negotiate an ever-expanding regulatory framework that is growing at different rates across different…

Ukraine Election Body Trials Voting on an NEM Blockchain

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Blockchain technology has been deployed for Ukrainian elections in a test according to a Facebook post by Alexander Stelmakh, an official Ukraine’s Central Election Commission. A test began several weeks ago and voting is currently underway held using test coins provided by the NEM Foundation. Blockchain makes it impossible to change saved information, the post noted. The decentralization of the data is also seen as advantageous. NEM’s blockchain allows a user to create their own assets. In addition, the blockchain’s log structure includes a message box that allows the user…

90 Companies Join IBM and Maersk’s Blockchain Supply Chain

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IBM and shipping giant Maersk have recruited a sturdy crew for their global trade blockchain platform. Revealed Wednesday, the companies have already signed up more than 90 firms for the platform since it was spun off from Maersk in January. They have also finally given it a name: TradeLens. Leveraging Maersk’s leviathan-like scale, TradeLens has attracted a wide variety of entities, ranging from dozens of port operators and customs authorities to logistics companies and even rival ocean-going carriers, such as Pacific International Lines, all of whom have been testing the platform.…

GMO’s Cryptocurrency Business Made $2.3 Million Profit in Q2

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Japanese IT giant GMO has just reported making an operating profit of 255 million yen (about $2.3 million) for its cryptocurrency business in the second quarter of this year. The firm released its financial report following an earnings call on Thursday, which indicated that the company’s crypto segment made a total of 2.6 billion yen, or $23 million, in net revenue. The amount generated in the crypto segment was almost equally split between the mining and exchange businesses, which accounted for 47 and 53 percent of the net revenue, respectively. That said,…

Bitcoin Price Watch: BTC/USD Rebounds After Dipping To $6,100

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Key Points Bitcoin price declined further and traded below the $6,200 support level against the US Dollar. There is a short-term connecting bearish trend line in place with resistance near $6,380-6,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently rebounding but it is likely to face many hurdles near $6,450 and $6,510. Bitcoin price extended losses below $6,200 against the US Dollar. BTC/USD traded towards $6,100 and is currently rebounding on the road to the $6,510 resistance. Bitcoin Price Analysis There was…