Day: August 21, 2018

MetLife Pilots Diabetes Insurance Payments on a Blockchain in Singapore

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MetLife has started tests on an automated insurance solution that will see enrolled pregnant women in Singapore get an automatic payout in case they are diagnosed with gestational diabetes. Developed by LumenLab, the innovation center of MetLife Asia, the experimental product known as ‘Vitana’ will make it unnecessary for enrollees of the insurance cover to file a claim. According to MetLife, this is the world’s first automated insurance solution that employs blockchain technology in a pilot phase. Additionally, Vitana is the first insurance product focusing on gestational diabetes in Singapore…

Apple’s Steve Wozniak Plans to Get ‘Involved’ in Blockchain Project for First Time

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Apple co-founder Steve Wozniak has announced that he plans to get “involved” in a blockchain project in what is a “first” for him. The statement was made at the ChainXchange blockchain conference and reported by NullTX news site August 19. At the ChainXchange conference, held in Las Vegas, U.S. August 13-15, Steve Wozniak revealed in an interview that he plans to participate in a blockchain startup, praising the benefits of the technology. He said: “I’m involved with, very soon, my first time being involved in a blockchain company. <…> Our…

Rally Ahead? Bitcoin’s Price May Be Charting a Previous Bull Pattern

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History often has a way of repeating itself. The current price pattern in the bitcoin market is eerily similar to the one observed in the run-up to a major rally that occurred on April 12. To start with, bitcoin charted a long-tailed candle on Aug. 14, similar to the one seen on Apr. 1, signaling the sell-off from the July 24 high of $8,507 has likely run its course. Further, the leading cryptocurrency has spent the last seven days trading in a sideways manner around $6,400. Back in April, the cryptocurrency traded…

Stay on the look out for an Ethereum (ETH) price breakout!

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After strong moves in the previous month, Ethereum is now consolidating inside a symmetrical triangle pattern as bulls wait for a catalyst. The coin’s price is approaching the peak of the formation so an Ethereum (ETH) price breakout might be due soon. The 100 SMA is above the longer-term 200 SMA to hint that the path of least resistance is to the upside. In other words, an Ethereum (ETH) price breakout might be more likely to take place than a downside break. According to the daily chart’s pattern, the increase…

Energy Firm Discloses Major Crypto Losses Amid Blockchain Rebrand

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An energy firm that is publicly traded in Hong Kong and chaired by a Chinese billionaire is planning to rebrand itself as a blockchain company despite having lost millions investing in cryptocurrencies. Called Global Energy Resources International Group, the firm filed a proposal with the Hong Kong Stock Exchange on Monday indicating it seeks to change its Chinese name to “Global Token Limited,” given its recent move into the crypto space. Based on the filing, the firm has over the past several months launched cryptocurrency trading platforms based in Hong…

Bitcoin Price Watch: Can BTC/USD Break $6,480-6,550 This Time?

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Key Points Bitcoin price declined and tested the $6,200-6,220 support area against the US Dollar. There is a major bearish trend line forming with resistance near $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting higher, but it could struggle to move past $6,480 and $6,500. Bitcoin price failed to move above $6,600 recently and declined against the US Dollar. BTC/USD is recovering, but it may possibly continue to face sellers near $6,480. Bitcoin Price Analysis There was yet another failure…

Ethereum Classic Price Analysis: ETC/USD is Bearish Below $13

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Key Highlights Ethereum classic price declined below the $13.50 and $13.00 support levels against the US dollar. There is a key bearish trend line formed with resistance at $12.80 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may possibly correct higher in the near term towards the $12.80 and $13.00 resistances. Ethereum classic price declined below key supports against the US Dollar and Bitcoin. ETC/USD might recover in the short term, but it could face sellers near $13.00. Ethereum Classic Price Resistance There was…

Trump vs Erdoğan: Bitcoin Is the Answer to Turkey’s Financial Chaos

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Latest reporting out of Washington appear to signal no deal struck between the Trump administration and the government of Turkey under President Recep Tayyip Erdoğan, potentially deepening an already fragile financial situation. Turkey’s lira has crashed double digits in recent months, and further as tensions between the two countries, over an American pastor’s jailing, continue to worsen. With a devalued currency, rampant inflation, and the usual political answers impotent, the situation in Turkey appears ripe for bitcoin adoption. Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots As Politicians Battle…

Bakkt CEO Offers Greater Details About Upcoming Crypto Platform

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Bakkt’s CEO offered greater details surrounding the upcoming cryptocurrency trading platform in a recent Medium post, including greater details about the principles of the new platform, and how those principles will set new standards for the cryptocurrency industry. The recent post is the latest information offered by the newly founded company since the initial announcement made earlier this month. The platform made headlines due to their corporate partners, including Starbucks, Microsoft, and New York Stock Exchange parent company ICE. Bakkt to Offer New Standard for Cryptocurrency Industry Bakkt is planning…

Ripple Price Analysis: Sell XRP/USD On Rallies Near $0.3350

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Key Highlights Ripple price started a downside move from the $0.3550 swing high against the US dollar. There was a break below a crucial bullish trend line with support at $0.3375 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair tested the $0.3120 support and it is currently at a risk of more losses below $0.3100. Ripple price declined below key supports against the US Dollar and Bitcoin. XRP/USD could correct higher, but it will most likely face sellers near $0.3350. Ripple Price Resistance After…