Day: March 25, 2019

Leading Social Platform eToro Acquires Smart Contract Development Company Firmo

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Exchange and social network for investors and traders eToro announced that it has acquired smart contracts development company Firmo for an undisclosed amount. The acquisition was reported in a press release published on March 25. Co-founder and CEO of eToro Yoni Assia is quoted in the announcement explaining that the acquisition will allow the platform to grow its offering of tokenized assets. He also noted: “We believe that in time all investible [sic] assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.” Per…

Bitcoin Could 1,000x To Overtake Fiat, Argues Venture Investor

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Satoshi Nakamoto, the pseudonymous creator of the Bitcoin protocol, always expressed an inkling of mistrust and cynicism towards centralized institutions, including Wall Street and the incumbent government. And for many years, much of the broader crypto community echoed these thoughts. Over the years, however, the underlying value proposition of Bitcoin and other digital assets have been misconstrued, especially as ‘get rich quick’ schemes have become a sector mainstay. But, some are still adamant that eventually, cryptocurrencies and related innovations will usurp the hegemony that fiat currencies have established for themselves.…

Tim Draper Urges Argentina’s President to Legalize Bitcoin to Improve Economy

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Crypto bull Tim Draper has given advice to the president of Argentina to legalize Bitcoin (BTC) in order to improve the economic situation in the country, Cointelegraph en Español reports March 22. The American venture capital investor reportedly met with Argentina’s president Mauricio Macri on March 20 to discuss the economic prospects of the Latin American country. During the meeting, Draper spoke about the potential of emerging technologies such as blockchain and crypto for improving major problems in Argentina’s economy, including the devaluation of the Argentine peso (ARS), as well…

Justin Sun Brags About 1 Million Twitter Followers; Thousands Appear Fake

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It’s not just crypto exchange data that’s being manipulated. Tron Founder Justin Sun recently bragged about his popularity on Twitter, saying he was the “first one in [the] crypto world to break through 1 million” followers. Indeed, Sun’s Twitter profile displays 1.01 million followers, which surpasses those amassed by many of his peers, including chief rival Ethereum Creator Vitalik Buterin, who boasts 842,000 followers. As one Twitter bot researcher pointed out, however, a common thread throughout many of Sun’s new follower accounts is that they are suspicious in nature. First…

Blockchain Financial Plumbing Is Still Years Away, Says LSE Spinoff Exactpro

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The Takeaway: Several major blockchain projects aim to streamline post-trade processing for securities. The new systems are still prototypes and need rigorous testing before safely connecting to live infrastructure. A former unit of the London Stock Exchange, QA specialist Exactpro, estimates that DLT post-trade systems may still be two years away from such testing. The upshot for big post-trade blockchains is the potential for further delays. If blockchain is supposed to be the new plumbing for the world’s financial markets, then think of Exactpro as the home inspector who checks the…

Georgia as a Crypto Powerhouse

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The former Soviet republic of Georgia, which occupies picturesque mountain valleys and rugged ridges of the Southern Caucasus, has roughly the same population as the state of Connecticut. It is renowned as the birthplace of Joseph Stalin, as well as for being one of the oldest wine regions in the world, its rich and eclectic cuisine, and, more recently, for hosting the world’s third-largest cryptocurrency mining operation. Additionally, an estimated 5% of the nation’s households are engaged in mining crypto or invested in it. Back in 2016, the Georgian government was the first…

95 percent of bitcoin trading volume is fake according to a new research

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A new report published by cryptocurrency research firm Bitwise Asset Management reveals that 95 percent of bitcoin spot trading has been inaccurately reported by a majority of the cryptocurrency exchanges. In an extensive report submitted to the US Securities and Exchange Commission (SEC) last week, the company analyzed the world’s top 81 cryptocurrency exchanges by evaluating trading volumes. Bitwise submitted the information to the SEC as part of the application process to create a new bitcoin exchange-traded fund (ETF).  Using financial data reported by leading crypto data provider CoinMarketCap (CMC), researchers found that a whopping 95 percent of reported trading…

Western Union Joins Stellar Partner Thunes to Use Blockchain to Speed Up Transfers

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Western Union, a world leader in cross-border, cross-currency money movement, has teamed up with Thunes,  formally known as TransferTo, a company that previously partnered with Stellar.org to further enhance the way in which money is transferred across borders with its distributed ledger. Facilitating value to move across borders and directly between banks and payment gateways, Thunes enables Western Union customers to send funds directly into mobile wallets around the world. advertisement Senders can now utilise Western Union’s growing digital network or an agent location to send funds directly into a…

Bitcoin Price Consolidation Continues, Downside Break Looks Likely

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View Bitcoin’s current trading range of $3,920–$4,055 could be breached to the downside, as last week’s doji candle created at the key 21- week moving average resistance is signaling bullish exhaustion. A downside break of the trading range, if confirmed, could yield a sell-off toward the support levels lined up at $3,775 and $3,658. On the higher side, a UTC close above $4,055 is needed to put the bulls back into the driver’s seat, although that looks unlikely at press time. Chart signals of bullish exhaustion suggest bitcoin’s (BTC) narrowing trading…

Dubai-Based Crypto Firm’s New Product to Allow Real-World Assets to Be Tokenized

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A crypto company has launched a new product that focuses on the tokenization of real-world assets, such as property, art and commodities — a venture it believes will transform the way the world invests, trades and transfers value. DGTO is the latest offering by Darico, and the firm says its service provides business owners and developers with “all the tools needed to tokenize assets into security tokens,” including legal and technical expertise as well as sales and marketing strategies. The parent company claims that its tokenization platform says it is…