Month: January 2019

Deutsche Börse, HQLAx Report ‘Significant Process’ on Blockchain Securities Lending Platform

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Major global securities marketplace Deutsche Börse has reported it is “making significant progress” on its blockchain-based securities lending platform, according to an official press release on Jan. 29. The platform is being co-developed by the German securities marketplace and Luxembourg-based blockchain liquidity management platform, HQLAx. According to the press release from Deutsche Börse, six banks have to date confirmed their plans to join the ​​securities lending platform, and have initiated “their connectivity processes.” The platform’s launch is scheduled for the the first half of 2019, while all related legal and…

Expect More Crypto Exchange Shutdowns and Ragequits

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The ongoing “crypto winter” would lead more cryptocurrency exchanges to their deathbeds, predicted Travis Kling. The former Wall Street portfolio manager issued his statement after Kiev-based Liqui, a cryptocurrency exchange, closed down its operations citing illiquidity. He asserted that the ongoing implosion of the cryptocurrency industry was a good thing, stating that the market would move higher only after the wipe off. We need more. More exchanges gone. More projects shuttering. More SEC enforcements. More developer ragequits. More ICO Treasury selling. More layoffs. More fund liquidations. More scammers exposed. More…

UAE-Saudi Arabian Digital Currency ‘Aber’ to be Restricted to Select Banks at Start

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The United Arab Emirates’ (UAE) central bank (UAECB) and the Saudi Arabian Monetary Authority (SAMA) have announced that the interbank digital currency they are co-developing will be called “Aber.” The news was reported by the national Saudi Press Agency on Jan. 29. A joint statement from the banks has reportedly outlined that the use of Aber will be limited to financial settlements using distributed ledger technologies (DLT) “on a probational basis and [for] exclusive use by a limited number of banks in the two countries.” While news of the two…

Bitspark Debuts Hong Kong Dollar-Pegged Stablecoin on Decentralized Exchange

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Hong Kong-based money transfer platform Bitspark has launched what is reportedly the first stablecoin pegged to the Hong Kong dollar (HKD), local tech and finance news outlet Fintech Hong Kong reports Jan. 29. Bitspark, which has positioned itself as a platform where stablecoins form the medium of value transfer, launched the Sparkdex.HKD stablecoin as a feature on its SparkDEX decentralized exchange. “Until now, US Dollar stablecoins have dominated the market but there are other national currencies in the world, like the Hong Kong Dollar,” the publication quotes CEO George Harrap…

S. Korea’s Central Bank Says It Won’t Issue a Digital Currency in Near Future

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South Korea’s central bank, the Bank of Korea (BOK), says it won’t be issuing a central bank digital currency (CBDC) in the near term, local English-language newspaper the Korea Herald reports Jan. 29. Having conducted a study into the prospects for domestic CBDC issuance, the BOK has reportedly concluded there is no urgent need to pursue such a project in the close future. An unnamed BOK official told the Korea Herald that the study was focused on examining the possible legal and social effectiveness of CBDCs from a wide perspective,…

Blockchain Loses Wall Streeter: is Institutional Demand For Bitcoin Declining?

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Since Bitcoin garnered traction in 2016/2016, the crypto & blockchain industry has been overtly lauded as a catalyst behind a “brain drain” on Wall Street, Main Street, and even Silicon Valley. Case in point, notable talents from the legacy industries’ most preeminent conglomerates, like Starbucks, Google, PayPal, amongst others, have flocked to this firms investing in this space, including Facebook. While copious amounts of time, capital, experience, and knowledge have been dedicated to the good word of cryptocurrency in recent months, the flow of talent has seemingly begun to reverse, as…

Are Over the Counter Crypto Trading Desks to Blame for the Declining Value of Bitcoin (BTC)?

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Any observant crypto trader and/or analyst can easily identify September 5th as the date the crypto markets turned for the worst after the fake news that Goldman Sachs had abandoned plans for a crypto trading desk. Before this date, Bitcoin (BTC) was comfortably trading above $7,300. But since then, the King of Crypto has fallen continuously to current levels of $3,400. Current levels look set to retest last year’s low of $3,200 if the trading volume does not increase in the next few hours. Over-the-Counter Trading Desks Start Appearing In…

Down Again: Bitcoin Is Closing on Key Long-Term Price Support

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View Bitcoin is again closing on the 200-week moving average, which served as strong support in December. The weekly RSI is more bearish this time round, though, and is reporting undersold conditions. A weekly close below that level could be followed by a slide back to September 2017 lows near $2,970. A failure to push prices below the 200-week SMA support would weaken the bears. A bullish reversal, however, would be confirmed only above $3,658 – the high of gravestone doji carved out Saturday. Bitcoin (BTC) is on the defensive…

Ex-Starbucks Chief Howard Schultz Likely Set to Replace Trump: What’s in It for Bitcoin?

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Photo: cacamre strear / Flickr Howard Schultz, former CEO and chairman of Starbucks tweeted that he is considering running in the 2020 US presidential elections. His announcement caused jitters among the Democrats who fear that he might erode some of their support if he runs. He said: “I love our country, and I am seriously considering running for president as a centrist independent.” The announcement resulted in many critical responses. A majority of the commentators argue that an independent candidature would minimize the likelihood of a successful Democratic win. Thus,…

Can Deploying Blockchain in the Greater Bay Area Help Ease Friction Points?

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Can Deploying Blockchain in the Greater Bay Area Help Ease Friction Points? January 29, 2019 by Paul de Havilland China’s Greater Bay Area initiative, the Pearl River Delta region plus Hong Kong and Macau, has the potential to create one of the world’s most economically powerful regions. Blockchain technology has been mooted as playing a role in helping smooth over some of the friction points involved in bringing the two special administrative regions into the cluster. Also see: BCH Instant Payments on Avalanche, Forks and More With Amaury Sechet Subscribe to…