Day: January 16, 2019

South Korean District to Implement Blockchain for Administrative Transparency

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A district in the South Korean capital has announced it will apply blockchain to its proposal evaluation system, privately owned local news agency Newsis reports on Jan. 16 According to the article, South Korea’s Yeongdeungpo-gu — an administrative district in southwest Seoul — aims to strengthen its administrative transparency by applying a blockchain-based evaluation system. The system will also help to avoid falsifications within the various public service bidding company selection procedures, the publication notes. The blockchain-based application will be used throughout all proposal evaluation projects in the district in…

New Zealand Police Confirm Investigation Into Alleged $3.6 Million Hack of Cryptopia

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Police in New Zealand confirmed they are investigating what appears to be a major hack of local cryptocurrency exchange Cryptopia worth at least $3.6 million, a press release stated on Jan. 16. Cryptopia, which abruptly shut down its website and exchange services on Jan. 14, subsequently said it had detected malicious activity. “The Cryptopia exchange suffered a security breach which resulted in significant losses,” officials wrote in a statement uploaded to the company’s Twitter account. As users and the media learned of the hack, Cryptopia has since said it will…

IBM, Ford Blockchain Pilot Targets Cobalt Supplies From Democratic Republic of Congo

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Global technology giant IBM will use its blockchain platform to monitor and trace supplies of cobalt from the Democratic Republic of Congo, the company confirmed in a press release on Jan. 15. IBM, which has already used the in-house IBM Blockchain platform built on the Hyperledger Fabric in multiple use case environments, will now target the rapidly expanding supplies of cobalt needed for electric cars and consumer devices. The scheme will run in tandem with motor company Ford, South Korean cathode maker LG Chem and China’s Huayou Cobalt. RCS Global,…

Less Than 1.5 Million People Used dApps in 2018

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According to a report from Dapp.com, dApps had about 1.5 million users over the course of 2018, the first full year they were measured. The most active dApp category across platforms was gaming, followed by betting. Of the 1.5 million total users of dApps across platforms, nearly 800,000 were on Ethereum. The Ethereum dApp ecosystem broke down like so: Of the 1.5 million total users of dApps across platforms, nearly 800,000 were on Ethereum. Decentralized exchanges accounted for the most users of dApps. Crypto trading is unsurprisingly the first major…

Bitcoin Price Watch: BTC Approaching Next Significant Break

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Bitcoin price is consolidating losses above the $3,560 support area against the US Dollar. There is a short term contracting triangle formed with resistance at $3,625 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price may soon make the next move either above $3,650 or below $3,540 in the near term. Bitcoin price is preparing for the next key break above $3,650 against the US Dollar. A close above $3,650 could trigger bullish moves towards $3,720 and $3,800. Bitcoin Price Analysis After trading above the…

Ripple Price Analysis: XRP at Potentially Key Turning Point

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Ripple price traded to a new weekly high at $0.3384 and later corrected lower against the US dollar. There was a break below a key bullish trend line with support at $0.3250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must trade above $0.3260 and the 100 hourly simple moving average to gain traction. Ripple price is showing a few bearish signs against the US Dollar and Bitcoin. XRP/USD must stay above $0.3170 to bounce back above $0.3260 and $0.3300 in the near term.…

Ethereum Price Analysis: ETH Stays Bullish Despite Constantinople Fork Delay

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ETH price trimmed most its recent gains and declined below the $121 support area against the US Dollar. There was a break below a connecting bullish trend line with support at $120 on the hourly chart of ETH/USD (data feed via Kraken). The pair still remains supported on the downside above the $113 and $114 levels. Ethereum price declined against the US Dollar and bitcoin after the Constantinople hard fork was postponed. However, ETH/USD could bounce back as long as it is above $113. Ethereum Price Analysis Yesterday, we saw…

ABCC Exchange Partners With Tron to Become First Platform to List TRC10 Tokens

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ABCC cryptocurrency exchange has partnered with the ninth largest cryptocurrency Tron (TRX), according to a tweet posted Jan. 15. Tron’s founder and CEO Justin Sun subsequently confirmed the news on Twitter. As per the announcement, the partnership has made ABCC the first crypto exchange to list tokens based on Tron’s TRC10 technical standard. The announcement was made a few days after the exchange first revealed that its was in the process of adding support for tokens based on both the TRC10 and TRC20 standards. According to Tron’s guide for developers,…

2019 Bitcoin Prediction: DCG Exec Expects Wall Street Crypto Foray

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Business Insider recently sat down with Travis Scher, who heads Digital Currency Group’s investment branch, which has made investments into Coinbase, Circle, Ledger, and other preeminent blockchain startups, to talk about his Bitcoin industry predictions for 2019. Among other things, Scher revealed that he expects for Wall Street and institutions to foray into crypto in the coming 12 months. Wall Street To Down The Bitcoin Pill Speaking to Business Insider’s Madeline Shi, Scher, who has worked in the crypto sector since late-2015, laid out three predictions. First, Scher noted that he…

Belarus Launches Trading Platform Enabling Customers to Buy Tokenized Securities

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Belarus has launched a trading platform that enables customers to buy tokenized versions of shares, gold and other traditional assets, Reuters reported Jan. 15. The project is reportedly backed by two companies, Larnabel Ventures and VP Capital. According to Reuters, the government of Belarus has not yet commented on the launch of the platform, but it was covered by the state news agency BelTa. The platform will allow traders to buy shares, precious metals, foreign exchange and other traditional assets from Belarus, as well as from other countries, with cryptocurrencies.…