Day: February 5, 2019

Canada’s Crypto Market in Trouble, QuadrigaCX Fiasco and Coinsquare Staff Layoff

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It has become abundantly apparent that the Bitcoin crash-induced crypto winter hasn’t managed to seduce bears. The crash in the broader cryptocurrency market, which sent investors running en-masse, has resulted in a number of layoffs at this (not so) budding sector’s most preeminent firms. Coinsquare, a leading exchange headquartered just north of the U.S., is the most recent notable company to have commenced layoffs, as the wrecking ball — the tumbling Bitcoin price — has struck with no holds barred. Coinsquare Cuts 30% Of Staff As Bitcoin Rut Hits Home…

Major Mining Company BHP, Japanese Shipper NYK Deliver Biofuel Traced via Blockchain

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Multinational metal and oil mining giant BHP has successfully tested blockchain in a conjoint experiment with Japanese shipping company NYK, shipping news magazine Dry Bulk reports Tuesday, Feb. 5. Sustainable biofuel company GoodFuels provided its product for the experiment, while BLOC — a developer of blockchain applications for the maritime industry — built the decentralized ecosystem to trace it. During the trial, the GoodFuels biofuel was delivered to the BHP-chartered and NYK-owned bulk carrier Frontier Sky, while carbon dioxide (CO2) savings were verified via a blockchain fuels assurance platform. As…

Bitcoin Will Gain More Than 80% Throughout 2019, New Study Explains Why

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Photo: goodegg0843 / Flickr Bitcoin reached its all-time high of almost $20,000 in December 2017. However, since then, Bitcoin declined by over 80% when it breached the $3,250 levels several months ago. The entire crypto market languished in a bear trend throughout 2018. The price of BTC currently oscillates around $3,500. A new study by Finder.co.au in Australia saw financial market experts predicting that Bitcoin could rise 84% in 2019. Most of the experts provided their predictions in the range of $7,500 to $9,000. A surge from $3,500 to $9,000…

Crypto Holder, Congressional Rep. Tulsi Gabbard Formally Launches US Presidential Campaign

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Crypto holder Tulsi Gabbard, the United States Representative for Hawaii’s 2nd congressional district, has formally launched her campaign for the forthcoming 2020 U.S. presidential elections. The development was reported by tech media platform TrustNodes on Feb. 4. Gabbard —  a Democrat who resigned as Vice Chair of the Democratic National Committee (DNC) in order to endorse Senator Bernie Sanders for the party’s presidential nomination back in 2016 — had first confirmed her own intent to join the 2020 race for president in an interview with CNN in early January. With…

Deloitte Completes Joint Pilot Digitizing Supply Chain Management on Multiple DLTs

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Big Four audit and consulting firm Deloitte has successfully completed a joint pilot for digitizing the supply chain on multiple blockchain networks, according to an official press release published on Feb. 1. Within the new project, Deloitte has collaborated with the Hong Kong Stock Exchange-listed blockchain firm Kerry Logistics and CargoSmart, a Hong Kong-based company specializing in supply chain management. Completed in late 2018, the platform’s Proof-of-Concept (PoC) is reportedly interoperable across different blockchains and cloud networks commonly used in global trading and finance, the press release says. By joining…

Bitcoin’s Daily Price Range Hits Three-Month Low

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View Bitcoin’s daily price range has dropped to levels last seen in the weeks leading up to the sell-off witnessed mid-November. The latest bout of consolidation, however, looks more likely to end with a move to the higher side, as the cryptocurrency has created a falling wedge on the daily chart. Further, signs of bearish exhaustion have emerged on the 4-hour chart. A strong move above $3,430 would confirm a falling wedge breakout and open the doors to $3,658 (the high of the bearish gravestone doji created on Jan. 26).…

$312 Million in Mt Gox Cryptos Possibly Sold Via BitPoint Exchange

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What appear to be leaked bank documents suggest that millions of dollars-worth of cryptocurrency from the now-bankrupt bitcoin exchange Mt. Gox may have been sold on the the open market through Japan’s BitPoint exchange. Goxdox, a site dedicated to supporting the creditors of Mt. Gox, published the images on Tuesday, stating that the bank book shows payments in Japanese yen from BitPoint to the account of the Mt. Gox trustee, Nobuaki Kobayashi. The payments amount to 34.3 billion yen (about $312.5 million at today’s exchange rate). The most likely explanation is that…

Ripple Rival in the Middle East? Saudi Arabia, UAE Pilot Aber Currency

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Ripple Rival in the Middle East? Saudi Arabia, UAE Pilot Aber Currency February 5, 2019 by Akshay Makadiya Two of the largest economies in the Middle East, Saudi Arabia and the United Arab Emirates, are piloting a shared central bank-issued digital currency (CBDC) dubbed Aber. The initiative is aimed at facilitating seamless and cost-effective transactions between the two nations. Does the new money campaign bode a threat to the business strategy of Ripple? Also read: South Korean Financial Regulator Stands Firm on ICO Ban Subscribe to the Bitsonline YouTube channel for great videos…

Japan Megabanks Kill Joint Blockchain Money Transfer Project, Turn to Their Own Cryptocurrencies

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Three of Japan’s biggest banks have canceled a joint project of a blockchain-based peer-to-peer money transfer service. The three so-called Japanese ‘megabanks’, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group, said the joint venture was a duplication of their individual efforts. They thus saw no need to continue, according to the Nikkei Asian Review. Per the Japanese publication, the joint initiative would have allowed their customers to send and receive funds using email addresses or mobile phone numbers via virtual accounts linked to their bank accounts.…

Six UAE and Saudi Arabian Banks Join Digital Currency Cross-Border Transaction Project

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Six commercial banks from Saudi Arabia and the United Arab Emirates (UAE) have joined a digital currency project, major Saudi Arabian financial news portal Argaam reports on Feb. 5 Referring to comments from the UAE central bank (UAECB), Agraam notes that the goal of the project is to use cryptocurrency for financing transactions between Saudi Arabia and the UAE. The news about developing a cryptocurrency by the two aforementioned countries came in December 2018, when UAECB and Saudi Arabian Monetary Authority (SAMA) had announced that the countries intended to use…