Day: August 21, 2018

MetLife Subsidiary LumenLab Pilots Blockchain Insurance System for Diabetes

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Singapore-based digital innovation center Lumenlab is testing a blockchain-enabled insurance solution for diabetes sufferers, according to a press release published August 20. Lumenlab is a subsidiary of financial services provider MetLife and has reportedly developed the new project within the Monetary Authority of Singapore’s (MAS) regulatory sandbox. The pilot, dubbed Vitana, is a parametric, automated insurance product targeting those who develop gestational diabetes – a condition that is said to affect one in five pregnant women in Singapore. It has been co-developed with insurance firm SwissRe, UK tech and blockchain…

Bitcoin Energy consumption could Drive innovation

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mining cryptox

Bitcoin energy consumption could drive innovation says research associate Most individuals outside and inside the cryptocurrency industry are quite familiar with the concept of Bitcoin Energy usage. The more popular cryptocurrencies become the more this should increase the miners on the network looking to capitalize on the bitcoin transaction fees. This will increase the reward payouts, in addition to raising the hashing difficulty of cryptocurrency mining. This will cause the mining of other rigs that are more powerful, to be able to mine bitcoins and other cryptocurrencies more easily and…

xRapid Adds Partners In A Bid To Increase The Number Of Banks Using The Platform

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In a recent announcement, Ripple (XRP-USD) has revealed that it has added three partners to its cross-border payments platform xRapid. The product enables financial institutions to move fiat across borders swiftly unlike the traditional means which takes more than two days to transfer. This move is a major boost to Ripple’s digital token XRP, which has long been criticized for lacking utilities. The partnerships aim for a healthy ecosystem for the token and may notch up the token’s worth against main competitors. Facilitating xRapid payments According to the press release,…

New Partnership Allows Australians to Pay Bills in Cryptocurrency

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Holders of cryptocurrencies in Australia will now be able to pay their bills in cryptocurrencies, thanks to a new partnership between cryptocurrency exchange, Cointree, and automated billing platform, Gobill. New Partnership Opens Crypto Doors Cointree, in a tweet, recently announced its partnership with Gobill which would enable cryptocurrency holders to settle their household bills with a wide range of cryptocurrencies. As a part of the agreement, Gobill will take users’ cryptocurrency funds and pay their bills on their behalf, acting as an intermediary between the two parties.The move enables Australians…

eToro to Pay for Major UK Soccer Sponsorship Deal With Bitcoin

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Online investment platform eToro has inked a deal that will see it pay with bitcoin to sponsor teams within the UK’s top soccer league. The Israel-based company said in a press release that, with help from sports marketing agency SportQuake, it has entered new partnerships with seven Premier League football clubs for a range of sponsorship assets, including access to players, digital rights, tickets, LED perimeter boards and interview backdrops. Planned and finalized over six months, the deal sees eToro partner with Tottenham Hotspur, Newcastle United, Crystal Palace, Leicester City, Southampton,…

SEC Have Until Thursday 23rd August, to Decide on the ProShares Bitcoin ETFs

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The Bitcoin (BTC) ETF saga at the SEC will go on for a while with another pair of ETF sponsored by two firms – ProShares in conjunction with NYSE Arca – due for a verdict on this Thursday, August 23rd. The two ETFs are the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF. The ruling on these two ETFs cannot be postponed further under the SEC rules. The good thing about this ETF, is that the crytpo-verse is aware of the pending deadline and that it is sponsored by…

Tokens Record Losses as Major Crypto Struggle, Bitcoin Stable at $6,500

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Usually, stability in the Bitcoin price leads to an increase in the momentum of tokens. On August 21, tokens recorded the largest losses in the global crypto market. Tokens Unstable In the past 24 hours, tokens such as Tezos, Kin, Ark, Basic Attention Token (BAT), and Aelf (ELF) declined by 5 to 15 percent against both the US dollar and Bitcoin, demonstrating high volatility. Meanwhile, Bitcoin recorded its 14-month low monthly volatility, showing stability in the lower price range of $6,500. The dominant cryptocurrency recorded a slight gain of 0.2…

Binance (BNB) And Nexo (NEXO) Launch Service Similar To Traditional Bank Loan

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Nexo has teamed up with Binance Coin to offer loans similar to those in the traditional finance industry. In the new arrangement, holders of Binance Coin (BNB-USD) will be able to use the coins as collateral to access Nexo’s loans. More coins to be added Nexo intends to use the new partnership to increase the growth of the blockchain ecosystem. The company has started with BNB but has indicated that several other coins will be added as collateral for loans on its platform on a regular basis. The company has…

Seven Premier League Football Clubs Sign Bitcoin Advertising Deal With eToro

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UK-based trading platform eToro has signed an advertising deal with seven Premier League football clubs paid in Bitcoin for the first time, the parties revealed Tuesday, August 21. According to various sources, UK clubs Tottenham Hotspur, Brighton & Hove Albion, Crystal Palace, Cardiff City, Leicester City Football Club, Newcastle United and Southampton announced they had signed up to host eToro advertisements. Blockchain and cryptocurrency integration in football stadiums and the industry will also form a focus for the partnerships, eToro so far not giving details as to the nature of…

Researcher Challenges Bitcoin Mining Energy Consumption Alarmists, Says Debate ‘Oversimplified’

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A clean energy expert has hit back against the common perception that high energy consumption is an “Achilles Heel” for Bitcoin (BTC), in an article published by The Conversation August 20. Katrina Kelly, Strategy Manager at the University of Pittsburgh’s Center for Energy, says that we need to shift the debate around Bitcoin mining away from energy-intensivity and towards where that energy is produced and how it is generated: “By talking specifically about … the consumption of energy alone..many fail to understand one of the most basic benefits of renewable…