Day: October 24, 2018

Blockchain, CBDCs Pose ‘Great Challenge’ to Interbank Settlement

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A senior executive from U.K.-based bank HSBC has said that time-efficient distributed ledger technologies (DLT) and central bank digital currencies (CBDCs) represent a “great challenge” to existing real-time gross settlement (RTGS) systems, Cointelegraph learned at the Money20/20 conference Oct. 23. HSBC’s Global Innovation Lead for Global Liquidity & Cash Management, Craig Ramsey, made his remarks during a panel during the Money20/20 conference in Las Vegas yesterday, which was devoted to “Digital Opportunities for Cross-Border Inter-Bank Transactions.” When asked by moderator Robert Ruark — principal at financial services at “big four”…

Bitcoin Price Watch: Buy Dips In BTC/USD Near $6,400

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Key Points Bitcoin price declined towards the $6,350 support and later recovered sharply against the US Dollar. There was a break above two bearish trend lines formed with resistance at $6,410 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tagged the $6,450-60 resistance and it is currently correcting lower. Bitcoin price recovered higher towards the range high at $6,460 against the US Dollar. BTC/USD remains supported on dips near the $6,410 and $6,400 supports. Bitcoin Price Analysis There was a downside extension below the…

Chinese Consortium Led by Huawei and Tencent to Launch Coinless Blockchain

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The Chinese Financial Blockchain Shenzhen Consortium (FISCO), led by multinational telecommunication company Huawei and tech giant Tencent, will soon present its coinless blockchain FISCO BCOS, as revealed in a press release Tuesday, Oct. 18. FISCO consists of more than 100 financial entities including major players such as WeBank, a digital bank initiated by Tencent, and Shenzhen Securities Communication. The consortium is going to present the new platform at the Singapore Fintech Festival, which will take place from Nov. 12-14. FISCO BCOS is described as a set of applications aimed to…

Central Bank-Issued Cryptocurrencies Are the ‘Inevitable Future’

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The CEO of Dash Core Group, Ryan Taylor, told Cointelegraph in an interview Oct. 23 that  central bank-issued cryptocurrencies are the “inevitable future,” but it will be people who “will decide what form of money they want to consume and use as part of their lives.” Speaking with CT during the Money20/20 conference, Taylor stated that central banks have certain advantages in issuing their own cryptocurrencies, but questions remain as to what form will it take and how the market will react. Taylor noted that the “free market can ultimately…

Elon Musk’s Twitter Account Locked After Tweeting About Bitcoin (BTC) and Anime

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Yesterday’s article on Ethereum World News, as to why the electric car manufacturer of Tesla should accept Bitcoin (BTC) and other cryptocurrencies as payment options for its vehicles, was inspired by a brief tweet by Elon Musk on Bitcoin. In the tweet, Elon Musk simply wrote the following words: Wanna buy some Bitcoin? The tweet has since got over 7,000 retweets and 20,000 likes. The responses to the tweet have reached a whopping 1,000. The tweet even got a response from the CEO of Binance, who promised to buy a…

Cardano Price Analysis: ADA/USD Looks Set to Climb Higher

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Key Highlights ADA price found support near the $0.0740 and $0.0750 levels and recovered against the US Dollar (tethered). This week’s key long term bearish trend line is intact with resistance at $0.0770 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair seems to be set for an upside break above the $0.0770 and $0.0780 resistances. Cardano price is preparing for the next move against the US Dollar and Bitcoin. ADA/USD could climb sharply if it clears the $0.0770 resistance. Cardano Price Analysis There was…

New Protocol to Enable Transfers between Bitcoin and Ethereum Blockchains

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A new protocol is allowing users to complete cross-chain transactions – meaning value can be transferred between different blockchains such as Bitcoin and Ethereum. The open-source technology is known as the Open Federated Gateway Protocol, or OFGP for short. It has been developed by iBitcome and DEx.top, and the first federated blockchain to be built using this protocol is launching on Wednesday, Oct. 24. Known as Mallow, it is accompanied by a block explorer which enables users to examine the flow of assets and check up on transactions whenever they…

Ripple Price Analysis: XRP/USD Could Accelerate Above $0.4700

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Key Highlights Ripple price found a strong support near the $0.4320 level and bounced back against the US dollar. Yesterday’s highlighted key bearish trend line was broken with resistance at $0.4505 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair gained momentum above $0.4550 and traded towards the $0.4700 resistance. Ripple price climbed higher nicely against the US Dollar and Bitcoin. XRP/USD may continue to move higher towards the $0.4750 and $0.4800 levels in the near term. Ripple Price Analysis Yesterday, we discussed that a…

Ethereum Price Analysis: ETH/USD’s Bounce Above $200 Looks Real

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Key Highlights ETH price declined further, traded towards the $197 support, and later recovered against the US Dollar. There was a break above a key bearish trend line with resistance at $201 on the hourly chart of ETH/USD (data feed via Kraken). The pair is currently placed nicely in a positive zone above the $200 support area. Ethereum price is showing short term recovery signs against the US Dollar and bitcoin. ETH/USD could rise towards the $203 or $206 resistance levels. Ethereum Price Analysis There was a downside extension below…

Tech Duo Brings New Crypto Card to American Consumers

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Wirex Joins Forces with i2c to Launch Crypto prepaid Card, making it Easy to Convert and Spend Digital Currency Wirex – the payments pioneer that aims to bridge the gap between cryptocurrencies and everyday spending – announced that they have teamed up with payments processing technology provider i2c to launch the United States’ first multiple cryptocurrency-backed prepaid card. Highlights Payments pioneer Wirex teams up with i2c to launch the first prepaid card available in the United States. Wirex will be extending its European Wirex Visa Card programme, that allows cardholders…