Day: October 8, 2018

BTC/USD between Breakout and Bull Trap

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The Bitcoin-to-Dollar exchange rate on Monday surged 2 percent against the US Dollar from 6590-fiat to 6729-fiat on bottom formation sentiment and increased institutional investments. The Bitcoin had a steady week, rising and dropping within a specific range with its trend facing upward. Many believe the digital currency has found its bottom and a massive investment from David Swensen, a prominent investor, made recently into two crypto funds have authenticated the speculation. It could be a reason Bitcoin is rejecting bears. The price yesterday almost formed a Doji on its…

Bitcoin Cash Miner Rawpool Agrees Wallet, Mining Deal With Northern Bitcoin

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Germany’s Northern Bitcoin AG (MUN:NB2) has agreed to offer Bpal Wallet, a wallet and payments app created by China-based Rawpool Group, in the European market. The agreement between the Munich-listed company and the bitcoin cash (BCH) miner, effective from today, also covers mining operations and cryptocurrency exchanges. Shares of Frankfurt-based Northern Bitcoin AG rose 2.8 percent on the news. Also read: Tax Evasion Spotlighted as Swiss Banks Start Sharing Client Data Northern Bitcoin to Offer Bpal Wallet in EU,Expand Mining Operations Northern Bitcoin CEO Mathis Schultz said Bpal Wallet — a digital application…

IBM Launches Blockchain Food Tracking Network, Joined by Retail Giant Carrefour

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U.S. tech giant IBM has officially launched its blockchain-based food tracking network, Food Trust, after 18 months of testing, the company revealed in a press-release Monday, October 8. In the same announcement, the corporation revealed that another major food retailer Carrefour is joining their ecosystem. The France-based company that operates more than 12 thousands stores in 33 countries will first test blockchain on their own stores. As IBM’s press release reports, by 2022 Carrefour is planning to expand blockchain to all of its brands around the world. IBM Food Trust…

Yale university endowment invests in blockchain; focusing on startups

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Reports of colleges introducing courses teaching blockchain technology are starting to abound. This was to satisfy the increasing demand for knowledge in the sector. Now, colleges are putting real money in the sector as the Yale University endowment invests in blockchain. A Friday report by Bloomberg suggests that Yale University is investing in two venture capital firms focused on blockchain. According to the report, the institution’s endowment “helped a new fund focused on digital assets, raise $400 million.” As per Bloomberg, the fund is a joint effort by three industry…

After Record High stability, is Bitcoin Finally Ready to Bounce?

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On October 8, Bitcoin achieved a 17-month low volatility. Experts have stated that the cryptocurrency market is maturing as more funds from the traditional finance sector flow into the market. Although the volume of Bitcoin still remains at around $2 billion on CoinCap.io and $3.3 billion on Coinmarketcap, the dominant cryptocurrency has recorded a slight increase in price to $6,600, allowing tokens like Tron (TRX) and 0x (ZRX) to surge by 14 to 18 percent. 17-Month Low Volatility of Bitcoin, Legs Building According to Mike McGlone, Bloomberg Intelligence commodity strategist,…

United Arab Emirates to Allow ICOs as Corporate Funding Option

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The United Arab Emirates (U.A.E.) has announced plans to introduce new rules that would permit initial coin offerings (ICOs) as a fundraising method for domestic companies. Intended for introduction in 2019, the new rules would allow firms to raise capital via crypto token sales as an alternative to traditional methods such as IPOs, according to a Reuters report published Monday. The news was revealed by the head of the U.A.E.’s securities watchdog, Obaid Saif al-Zaabi, who said at a seminar today: “The board of the Emirates Securities & Commodities Authority has approved…

Maker (MKR) Cryptocurrency Clips $750 as Dai Eyes Augur Integration

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Maker (MKR), the central token of the Maker smart contract platform and the Dai stablecoin system, has experienced a phenomenal rally over the past month, bolstered a major partnership and an investment from one of the cryptocurrency industry’s top venture funds. Less than one month ago, on Sept. 12, MKR was trading below $300. Since then, the token has gone on a tear, rising 159 percent to a present value of $758 on Monday morning. The Maker price has risen 24 percent in the past 24 hours alone, raising the MKR…

China Establishes ‘Blockchain Test Zone’ in Hainan Free Trade Zone

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China Establishes ‘Blockchain Test Zone’ in Hainan Free Trade Zone October 8, 2018 by Jon Southurst China has launched a “Blockchain Test Zone” section in its recently-established Free Trade Zone on Hainan island. The project already involves a number of big-name companies and institutions including Oxford University, the People’s University of China, and the Ministry of Industry and Information Technology. It’s another step towards China’s goal to become a world leader in the blockchain, if not cryptocurrency per se, technology field. Also see: Could the Widespread Adoption of Bitcoin Decrease its…

TRON CEO Claims Today’s Update Will Make It ‘200x Faster’ Than Ethereum

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“Decentralized internet” protocol TRON’s TRX token surged almost 8 percent Monday, October 8, after CEO Justin Sun claimed its forthcoming update would see it beat Ethereum on speed and EOS on cost. Odyssey 3.1, the latest version of TRON, will go live at 8pm SGT, Sun confirmed on Twitter as a result of “community consensus.” The changes include the launch of the TRON Virtual Machine, which will allow developers to test smart contracts before they transfer to the TRON mainnet. “The TRON Committee function & (Tron Virtual Machine) will go live,…

Dubai to Launch Blockchain Payments with State Digital Currency ‘emCash’

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Dubai residents will soon have the means to make payments for school fees, bills and other retail purchases with emCash, a state-developed blockchain-based digital currency. The UAE’s first official credit bureau – emCredit – under the Dubai Department of Economic Development is pushing its official blockchain-encrypted state digital currency emCash for wider adoption by rolling out point-of-sale (PoS) devices at government storefronts across Dubai. PoS devices will also be deployed at retail storefronts, enabling both citizens and residents of Dubai to make purchases following a partnership with blockchain payments provider…