Day: January 30, 2019

Iran Pitches Crypto Rial to 8 Countries for Transactions, Avoiding US-Dollar Led Global Commerce Altogether

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Sanction-hit Iran is negotiating the use of its state-backed cryptocurrency with eight foreign countries, according to a Tehran Times report. The Middle Eastern nation had its representatives met with their counterparts from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia. According to Mohammad-Reza Modoudi, the acting head of Iran’s Trade Promotion Organization, the meeting took place in hopes to lure foreign investors into the country. At the same time, the representatives also discussed how Iran would settle its global trades while hit by an international banking sanction. Digital…

Bitcoin Eyes Minor Price Bounce But Bear Trend Intact

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View Bitcoin’s minor recovery rally from six-week lows could be extended further to levels above $3,500 as back-to-back long-tailed daily candles are indicating a lack of conviction among sellers, despite Monday’s high-volume range breakdown. A break above the downward sloping 10-day MA of $3,511 would expose the crucial resistance of $3,658 (the high of Saturday’s gravestone doji and last week’s classic doji candle). The outlook would turn bullish if BTC secures a convincing UTC close above $3,658. Rejection at the 10-day MA would reinforce the primary bearish trend and could…

SWIFT CEO Reveals Plans to Launch PoC Gateway With Blockchain Consortium R3 Tech

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This article has been updated to reflect the breaking news events. Major global banking payments network SWIFT has revealed it plans to launch a Proof-of-Concept (PoC) of a gateway — dubbed GPI Link — that will allow enterprise blockchain software firm R3 to link to GPI (Global Payments Innovation) payments from their platform. Speaking at the Paris Fintech Forum on Jan. 30, CEO Gottfried Leibbrandt said SWIFT would be formally announcing its plans for a Proof-of-Concept (PoC) with R3 later today. Leibbrandt was speaking for the first time in a joint…

Japanese IT Giant Fujitsu Completes Test of Blockchain Electricity Sharing Project

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Japanese IT firm Fujitsu has successfully trialed a blockchain-based solution to address inefficiencies in electricity surplus management, the company confirmed in a press release on Jan. 29. Fujitsu, which partnered with local power distribution company ENERES, used blockchain to increase the success rates of power sharing, which is administered through a process known as Demand Response (DR). An agreement between utilities companies and consumers, DR aims to anticipate periods of peak demand by ensuring surplus power is available to those who need it. The current technology involved makes DR an…

Know When to Fold Them DApps–Ethereum Cedes Ground to EOS, TRON Due to Gambler Migration

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Know When to Fold Them DApps–Ethereum Cedes Ground to EOS, TRON Due to Gambler Migration January 30, 2019 by Paul de Havilland DApps, or decentralized apps, have witnessed a seismic shift in usage patterns. They have also seen a movement away from Ethereum toward the TRON and EOS platforms. But are the figures misleading? Also read: Kik Expects SEC to Come Knocking Over Kin ICO Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts TRON and EOS Surpass Ethereum There was in excess of $7.5 billion USD worth…

Know When to Fold Them DApps–Ethereum Cedes Ground to EOS, TRON Due to Gambler Migration

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Know When to Fold Them DApps–Ethereum Cedes Ground to EOS, TRON Due to Gambler Migration January 30, 2019 by Paul de Havilland DApps, or decentralized apps, have witnessed a seismic shift in usage patterns. They have also seen a movement away from Ethereum toward the TRON and EOS platforms. But are the figures misleading? Also read: Kik Expects SEC to Come Knocking Over Kin ICO Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts TRON and EOS Surpass Ethereum There was in excess of $7.5 billion USD worth…

DApp Survey Highlights Poor User Uptake as Major Pain Point for Developers

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Decentralized data aggregator Fluence Labs highlighted user uptake as the number one problem facing decentralized app (DApp) developers in a new survey released on Jan. 29. The DApp industry, which began using the Ethereum blockchain in 2017, has since grown to number around 1,800 products, according to listing resource DappRadar. Fluence notes that of the 900 projects they found that had contacts available, 160 projects filled out their survey. EOS and TRON have since risen to compete with Ethereum as host blockchains, the latter nonetheless still being home to 87…

AMD Q4 Financial Report Sees Income Dip, Executives Show No Signs Of Panic

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United States transnational IT company Advanced Micro Devices (AMD) released its Q4 revenue report on Jan. 29, broadly conforming to analysts’ fears of a continued slowdown. AMD, which like other graphics hardware manufacturers has suffered due to the cryptocurrency bear market, produced quarter-on-quarter revenue losses of 14 percent. Its gross margin was down 2 percent versus Q3, while its net income fell from $122 million to just $38 million. As Cointelegraph reported, investors had previously warned about possible losses for AMD prior to the report’s release, arguing that the lasting…

Will Fidelity’s New Institutional Crypto Products Boost Markets?

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A major financial institution getting involved in cryptocurrencies is usually big news. With the prolonged US government shutdown hampering a number of long awaited crypto funds, large investment companies are seeking alternative ways to enter crypto markets. Fidelity Crypto Custody Coming According to Bloomberg Fidelity Investments is planning to launch its Bitcoin custody services in March. The mutual fund giant is hoping to ease the fears that institutional investors may have about the highly volatile and somewhat technical world of crypto trading. The delayed Bakkt and VanEk crypto funds have…

Bitcoin and Ether Market Update: January 30, 2019

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The total crypto market cap lost another $6 billion of its value since January 28, 2019, and now stands at $113 billion. At the time of press, bitcoin sits at $3,456 and ether is being traded at $105. BTC/USD Bitcoin lost 2.7 percent on January 28 as it extended losses to $3,500, now clearly in the downtrend channel after breaking below the 61.80 percent Fibonacci level. On January 29, the BTC/USD pair dropped even further touching $3,420 during day trading to close the session at $3,470. The next support to hold…