Day: August 30, 2018

Russian Lawmaker Suggests Gold-Linked Cryptocurrency for Arms Exports

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A senior Russian lawmaker has suggested that Moscow should turn to cryptocurrency, backed by gold, for payments in Russian arms exports to evade financial sanctions from the west. Prominent lawmaker Vladimir Gutenev, first deputy head of the economic policy Committee at the State Duma (the Russian Parliament’s lower chamber), has urged the Kremlin to suspend treaties with the United States amid an escalating policy-war. In April, the Trump administration talked up new sanctions against Russia as punishment for the latter’s involvement in the Syrian conflict. Russia vows to shoot down…

IOTA Price Falls Nearly 20 Percent from Late August Peak

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The IOTA value on Thursday continued to trend downwards and fell more than 18 percent since its late August-high near $0.8154. The IOT/USD stated the early Asian trading session by breaking below a critical support level around 0.7294-fiat, opening a path of least support towards the next downside targets. As the session matured and the European timing came into play, the pair had already fallen by 8.7 percent. IOT/USD is now near the early August resistance – visibly a strong one to the upside – near 0.6751-fiat, which is now…

Standard Chartered, Siemens Partner on Blockchain Pilot to ‘Fully Digitize’ Bank Guarantees

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UK multinational banking and financial services company Standard Chartered (SC) disclosed it is working on a blockchain pilot for bank guarantees using R3 Corda blockchain technology in a press release Thursday, August 30. In partnership with Siemens’ financing arm Siemens Financial Services (SFS) and trade finance platform TradeIX, the pilot began operating in March and aims to be complete by the end of 2018. If successful, the project will “digitize trade and leverage real-time data to deliver efficiency gains and transform the way trade finance is conducted,” SC’s global head…

India Eyes State Digital Currency to Cut $90 Million Banknote Bill

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India’s central bank is researching how to introduce a rupee-backed central bank digital currency (CBDC) into its monetary policy in a bid to reduce its hefty annual bill for minting physical cash. The news was revealed in the Reserve Bank of India’s (RBI) annual report, published Wednesday, which indicated an inter-departmental unit has already been formed within the organization to study the “desirability and feasibility to introduce a central bank digital currency.” The effort apparently comes in response to a rapidly changing landscape of digital payments and the “rising costs of managing fiat…

World’s Largest Bitcoin Mining Pool Launches Ethereum Operation

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The world’s largest bitcoin mining pool is preparing to expand its horizons. BTC.com, which produced 21 percent of all newly-mined BTC over the past 12 months and currently accounts for more than 16 percent of the bitcoin hashrate, announced on Thursday that it has opened an ethereum mining pool. The pool will initially support both ethereum and ethereum classic, and users will have the ability to shift between the two Ethash-based cryptocurrencies to enhance profitability. “Because contracts are charged per line of executed code and miners are rewarded for dedicated…

Cryptocurrency mining farm to start using entire river for energy

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Mining cryptocurrencies with the power of the River A cryptocurrency mining organization called DPW Holdings’ is an ultimate crypto Mining subsidiary. The organization will be harnessing power from rivers for the mining of cryptocurrency. The mining of cryptocurrency is energy intensive, however energy can be harness through just about any energy source to mine cryptocurrency. This includes Solar, Wind, Waste, Geothermal and more.  DPW Holdings’ will be using a hydroelectric dam in the Valatie falls of New York, and is set to convert it into a cryptocurrency mining facility.  The…

Deutsche Boerse Buys Minority Stake In Blockchain Firm HQLAx

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The Deutsche Boerse has recently bought a minority shareholding in the blockchain based firm HQLAx. This move follows the partnering of the two firms 6 months ago. The partnership was aimed at creating a blockchain based trading solution. They jointly utilized Corda technology from R3 Consortium to develop a securities lending network. Deutsche Boerse Group is a German exchange operator that offers transactions services. As of 2015, the Germany exchange had a total equity amounting to $4.327 billion. Meanwhile, HQLAx is a collateral and liquidity management company. It offers liquidity-based…

Malta Is The Official Centre For Blockchain Technology

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CoinDesk has announced Malta as the leader in crypto regulation. The island nation in the Mediterranean Sea has become the poster child of the groundbreaking technology. While China and others are hostile to the technology, Malta is willing to go the extra mile to support it. The tiny nation comes top ahead of Japan, Switzerland, the US, South Korea, Singapore and the UK. Blockchain-powered university The parliament of Malta recently established the first regulatory framework for the distributed ledger technology (DLT). This became the first instance where blockchain gained official…

Andreessen Horowitz, Polychain Capital Lead Blockchain Startup’s New $105 Million Funding Round

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Swiss and US-based blockchain cloud computing startup DFINITY has closed a new funding round worth over $100 million from repeat backers including Andreessen Horowitz, it confirmed August 29. DFINITY, which aims to build what it describes as an “Internet Computer,” raised a total of $102 million Swiss francs ($105 million) from partners that also featured blockchain-focused investment outfit Polychain Capital. Both Polychain and Andreessen via its investment fund a16z had previously participated in the startup’s investment, contributing to a $61 million round in February. Having raised a total of just…

Bitcoin Falls Below $6,900, Traders See $6,500 as the Next Support

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Some major cryptocurrencies and tokens have fallen by 5 to 15 percent in the past 24 hours as the Bitcoin price failed to remain above the $7,000 mark. Within 12 hours, the price of Bitcoin fell from $7,100 to $6,900, briefly falling below the $6,900 mark. While Bitcoin has stabilized in the low $6,900 region, many traders believe that the next major support level is at $6,500, given the downtrend of the dominant cryptocurrency and the two consecutive buy candles it recorded this week as shown below in its 1-day…