Day: September 25, 2018

“Stay Away from Bitcoin Investments Using PM’s Name,” Says Singapore Government

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The government of Singapore has warned investors to be wary of bitcoin investments purporting to be backed or supported by Singaporean Prime Minister Lee Hsien Loong, Bloomberg reported on September 24, 2018. Singapore Issues Warning The island state’s premier has been forced to issue a statement dissociating himself from the supposed investments after a rash of incidents involving crypto investment schemes claiming to have his involvement or endorsement. In a post on his personal Twitter account, Loong warned that his name and that of his deputy, Tharman Shanmugaratnam are being fraudulently…

Ripple Price Analysis: XRP/USD Under Pressure Below $0.50

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Key Highlights Ripple price is under a lot of pressure below the $0.5000 level against the US dollar. Yesterday’s highlighted important bearish trend line is intact with resistance at $0.5500 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to decline towards the $0.4300 and $0.4200 levels in the near term. Ripple price extended its slide against the US Dollar and Bitcoin. XRP/USD may drop further if buyers fail to keep the price above the $0.4500 level. Ripple Price Analysis There was an…

Brave Publishers Can Now Have Their Identities Verified with Civic

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Civic, a digital identity firm, has collaborated with Brave, the privacy-based browser with a blockchain-based digital advertising platform, to provide identity verification services to Brave’s content creators. Verified content creators on Brave now have the option of verifying their identities using Civic’s identity verification service in order to get paid Basic Attention Tokens (BAT) via their Ethereum wallets. Brave’s blockchain-based digital advertising platform is built on the strength of the Brave browser, which uses user attention as a metric for rewarding publishers with BAT ERC20 tokens. BATs are derived from…

a16z Puts $16 Million Behind Stablecoin Platform MakerDao

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Stablecoins are becoming big business these days. In a $15 million deal, Andreessen Horowitz’s a16z crypto fund is buying 6 percent of the total MakerDAO maker (MKR) token supply. The investment will give a16z a financial and governance stake in the dai stablecoin. A16z made the announcement today, September 24, 2018. MakerDAO also received $12 million in a round led by Andreessen Horowitz and Polychain Capital in December 2017. A stablecoin is a token pegged to another asset, like the dollar. Stablecoins can provide a hedge in the volatile world…

Malaysia is Directing Its Three Largest Industries to Blockchain Technology

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The Malaysian government is seeking to explore blockchain solutions in the nation’s three largest industries: renewable energy, palm oil, and Islamic finance. A task force named the Malaysian Industry-Government Group for High Technology (MIGHT) will be spearheading the move to adopt blockchain in each industry in order to increase transparency, sustainability, and logistical efficiency according to a report published last week. Renewable Energy MIGHT holds talks with energy companies in Malaysia to evaluate the ways they could be using blockchain to increase renewable energy adoption. When sellers put energy on the blockchain,…

Walmart asks suppliers to use the blockchain for product traceability

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Walmart has written to suppliers of leafy greens to use blockchain technology to implement real-time, end-to-end product traceability. Reducing cost and time to trace food outbreaks Walmart is launching this initiative following multiple high profile recalls and outbreaks associated with these types of products. Using existing one-step up and one-step-back traceability processes can make tracking a product back to a specific farm difficult and costly. Over the last 18 months, Walmart has worked with IBM and 11 other food companies to develop a blockchain-based food traceability network. An initial pilot…

Ethereum Price Analysis: ETH/USD Could Test $212-214

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Key Highlights ETH price is under a downside correction since it broke the $245 support against the US Dollar. Yesterday’s discussed contracting triangle with support near $242 was breached on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to extend losses towards the next support at $214 and $212. Ethereum price is facing an increased selling pressure against the US Dollar and bitcoin. ETH/USD may continue to slide towards the $212 support in the near term. Ethereum Price Analysis It seems like there was a…

Bitcoin (BTC) Price Watch: Back to Support Yet Again!

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Bitcoin Price Key Highlights Bitcoin price has formed higher lows and lower highs to trade inside a triangle pattern on its 4-hour time frame. Price got rejected on a test of resistance once more and a move to support appears to be taking place. Technical indicators are suggesting that further declines could be in the cards. Bitcoin price bounced off the top of its triangle consolidation pattern and is gearing up for another test of support. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to signal…

Bitcoin Cash Price Analysis: BCH/USD Extending Downside Correction

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Key Points Bitcoin cash price declined further and broke the $470 and $460 support levels against the US Dollar. Yesterday’s highlighted contracting triangle with support at $486 was breached on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is following a bearish path and it could continue to move down towards $450 and $440. Bitcoin cash price is under pressure below $480 against the US Dollar. BCH/USD could decline further towards the next major support at $440. Bitcoin Cash Price Analysis Yesterday, there was a…

IBM CTO Tells US Congressmen ‘Let’s Get Government Ready for Blockchain’

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IBM and members of the U.S. Congressional Blockchain Caucus discussed the use of blockchain for ID systems, payments, and supply chains during a meeting today, September 24, according to a press call attended by Cointelegraph. IBM recently published a report entitled “The Impact of Blockchain for Government: Insights on Identity, Payments, and Supply Chain” made in collaboration with the U.S. Congressional Blockchain Caucus. The report summarizes a series of roundtable discussions between U.S. Representatives Jared Polis (author of “The Cryptocurrency Tax Fairness Act,” which proposes to abolish crypto taxes below…