Day: August 25, 2018

Singapore Stock Exchange Taps Blockchain for Faster Settlements

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Singapore’s stock exchange is working with the Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, to utilize blockchain in a bid to improve the efficiency of securities settlements. The Singapore Exchange (SGX) said in a release on Friday that the collaboration is aimed at scaling up the country’s Delivery versus Payment (DvP) capacity so that it’s able to automate transactions via blockchain-based smart contracts. DvP is a settlement process that ensures assets are transacted only when corresponding payments are received. Lending technological support is a list of well-known firms…

Mt Gox’s Bitcoin Creditors Can Now File for Rehabilitation Claims

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Creditors of the long-defunct bitcoin exchange Mt Gox can now begin submitting proof of their claims in a newly-approved rehabilitation process. Nobuaki Kobayashi, the trustee of Mt. Gox, announced in a note on Thursday that an online claim filing system is now up and running for creditors, whether or not they filed proofs for claims in the previous bankruptcy proceeding. As previously reported by CoinDesk, Mt. Gox creditors won a big victory in June after a Tokyo district court moved the exchange from bankruptcy to a civil rehabilitation process. Most…

Ohio Lawmakers Pitch Their State As a Future Hub for Blockchain

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Lawmakers in the U.S. state of Ohio say they are interested in blockchain – but they’re still figuring out how to put that enthusiasm into action. At a press conference on Aug. 23, Ohio House of Representatives Speaker Ryan Smith convened a group that included lawmakers, business owners and academics to discuss the Buckeye State’s intent to attract both blockchain developers and companies. Though no specific legislation related to blockchain was proposed, Smith said that he saw the technology as widely applicable in the public sector, including uses cases like the storage of…

CBP: Our ‘Live Fire’ Blockchain Test Is Entering the Proof-of-Concept Phase

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U. S. Customs and Border Protection will begin its live testing of a shipment tracking system on a blockchain after Labor Day, an agency official said. As previously reported, CBP plans to trial blockchain technology in a “live fire testing” as part of an effort to eliminate paperwork in verifying North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA) certificates. On Friday, Division of Business Transformation and Innovation head Vincent Annunziato told CoinDesk that the agency has already successfully conducted preliminary testing of the system, which has been…

World Bank’s Blockchain Bond Experiment Raises $81 Million

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The World Bank has exceeded its $73 million goal for its upcoming blockchain bond by $8 million, according to a new announcement. As previously reported by CoinDesk, Australia’s Commonwealth Bank (CommBank) intends to settle the bond, dubbed bond-i (for blockchain operated new debt instrument), on Tuesday, marking the first time the World Bank settles a blockchain bond. While the bank originally reported it would settle $100 million AUD ($73 million U.S.), it reported Friday that it had raised as much as $110 million AUD (roughly $81 million U.S.). The bond’s…

Ethereum Meeting Leaves Open Questions Ahead of October Upgrade

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A meeting that brought together a broad representation of ethereum stakeholders to discuss code changes on which decisions need to be made ahead of a software upgrade scheduled for October, failed to produce immediate results Friday. The bi-weekly developers call, which this week included a majority of the network’s miners and some prominent investors, had the goal of forging consensus on changes to ethereum’s underlying economics, the speed of its upgrades and the mining methods it supports, as well as establishing an order in which concerns might be addressed through…

WeChat, Alipay to Block Crypto Transactions on Payment Platforms

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Chinese mobile payment platforms WeChat Pay and Alipay are scrambling to keep up with regulators after recent announcements regarding initial coin offerings (ICOs) and cryptocurrencies. Both payment giants have said that they will work with the government agencies closely to monitor cryptocurrency transactions, according to news releases on August 24. As CoinDesk reported on Friday, five high-level regulatory agencies in China – including the People’s Bank of China and the Banking Regulatory Commission – issued a warning against any cryptocurrency-related fundraising and trading activities. In a release published by Tencent, the parent…

What an SEC Bitcoin ETF Rejection Review Really Means

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The U.S. Securities and Exchange Commission (SEC) announced Thursday that nine bitcoin exchange-traded fund (ETF) disapproval orders are to be stayed until further review. Referencing Rule 431 of the Commission’s Rules of Practice, the SEC said in a series of letters that it would reconsider the three rejections made by the U.S. regulator’s staff. But what does it mean when the Commission says it will “review” the disapproval orders? And what implications does that decision have for the proposed bitcoin ETFs themselves? According to the Rules of Practice, the Commission…

Crypto Market Continues Recovery as Bitcoin Hits $6,700

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In the past 24 hours, the Bitcoin price has increased from $6,400 to $6,700, recording a decent increase in its daily volume. The valuation of the crypto market has increased from $210 billion to $215 billion within a two-day period, fueled by the short-term surge in the price of tokens. Ethereum-based tokens like Wanchain, Aion, and ICON recorded solid gains in the range of 10 to 20 percent against both the US dollar and Bitcoin, showing some momentum against major cryptocurrencies. Ethereum, Ripple, Bitcoin Cash, and EOS, the top five…

CNBC Tweets Have Been a Contrarian Bitcoin Price Indicator With 95% Accuracy

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According to research from prominent cryptocurrency trader Jacob Canfield, who plotted out his findings against a BTC price chart on the popular charting site TradingView, CNBC’s tweets can be used as a contrarian Bitcoin price indicator with as much as 95% accuracy. CNBC: A Contrarian Indicator with 95% Accuracy Canfield claims that almost “every single bullish tweet” has been at or near the top of nearly every BTC rally in 2018. Meanwhile, each bearish tweet has represented a reversal of a previous downtrend. In the last week alone, Candield says,…