Day: March 29, 2019

Russia’s Richest Man Set to Develop a Palladium-backed Cryptocurrency

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Photo: Wikimedia Commons While Russia has been struggling to introduce crypto regulations, the country’s richest man has come forward with a new proposal. Vladimir Potanin, the Russian billionaire has proposed to launch new crypto tokens pegged to the precious metal of palladium. The concept of stablecoins i.e. a crypto token backed by fiat currencies is getting more popular these days. Thus a digital currency backed by a precious commodity can likely be a good consideration. Also, the tokenization of commodities would make it easy to trade them globally. As reported…

SBI Holdings: Ripple-Powered MoneyTap Receives Investing from 13 Leading Banks

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Ripple is receiving investments from 13 banks into its MoneyTap App, which handles money transfers between banks as well as between individuals via smartphones. The app does not use XRP, but employs xCurrent for powering payments. It seems that the crypto community is no longer surprised by Ripple‘s efforts to promote its products, in particular XRP-powered xRapid and xCurrent. Products backed by Ripple’s blockchain technology also enjoy popularity, and the recent announcement from Japanese SBI Holdings, known as Ripple’s supporter, testifies that. According to SBI Holdings, MoneyTap, the remittance mobile…

Bitmain’s Jihan Wu: ASICs Are Making Ethereum Mining More Decentralized

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Jihan Wu, co-founder of crypto mining giant Bitmain, has argued that ASIC miners make blockchain networks more decentralized – the opposite of what is often argued by members of the crypto community. Speaking at a keynote to discuss proof-of-work and decentralization during a blockchain event in Chongqing, China, on Wednesday, Wu told a mix of newbie and experienced participants in the industry that he believes ASIC miners – powerful processors designed for crunching specific algorithms – are less of a centralizing force than more general purpose graphics processing units (GPUs)…

Top US Energy Provider Ameren Eyes Blockchain Promise in Clean Energy Boost

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Major United States energy firm Ameren and Canadian software engineering and solutions company Opus One Solutions will explore the potential use of blockchain technology. The participants announced the news in a press release on March 28. Ameren, which currently services around 2.4 million electric and 900,000 gas consumers, will examine blockchain as one of a range of options in its clean energy initiative. As of May 2018, Ameren was listed among the top 20 U.S. gas and electric utility firms, based on market value. Blockchain is set to feature in…

ICO opens Sandbox beta phase to enhance data protection and support innovation

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The Information Commissioner’s Office (ICO) has opened the beta phase of its Sandbox, a new service designed to support organisations using personal data to develop products and services that are innovative and have demonstrable public benefit. The beta phase of the Sandbox, which is now open to applications, will enable participants to work through how they use personal data in their projects with the ICO’s specialist staff to help ensure they comply with data protection rules. The Sandbox will also provide some comfort from enforcement action and, where feasible, increased…

Blockchain Gaming Startup Announces Global Licensing Agreement With Formula One

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Blockchain startup Animoca Brands announced it had signed a global licensing agreement with Formula 1® to publish a blockchain game based on the world-renowned racing series. The news was revealed in a press release from Animoca published on March 26. Formula 1® — which reportedly draws ~1.6 billion television viewers across over 180 territories and engages 506 million fans worldwide — has reportedly signed a licensing agreement that will allow Animoca to publish a blockchain game “F1® Delta Time,” based on non-fungible tokens (NFTs). The forthcoming blockchain game F1® Delta…

New USStocks Token Lets Investors Access US Stock Market With Stablecoin Dai

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Decentralized financial contracts platform UMA has partnered with Decentralized Autonomous Organization (DAO) MakerDAO to release a token tied to the United States stock market, UMA announced in a blog post on March 27. The ERC-20 token, dubbed USStocks, seeks to offer investors access to the U.S. stock market using cryptocurrency. Users can purchase the token using MakerDAO’s own USD-backed stablecoin, Dai (DAI). Decentralized cryptocurrency exchange DDEX is currently the platform of choice for onboarding potential investors. “USStocks is an ERC20 token representing synthetic ownership of an index of the 500…

Coinbase Leads Wall Street to Brave New World of Crypto Staking

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The Takeaway: Coinbase Custody is offering staking services to institutional clients, starting with Tezos. Client assets will remain inside Coinbase’s fully insured cold storage at all times, mitigating risk to investors. Since staking requires some funds to be kept online, Coinbase will put up its own coins, assuming the risk. After deducting Coinbase’s fee, clients can expect to earn about 6.6 percent annually, the firm says. Coinbase’s custody arm is trying to entice its institutional customers into the brave new world of staking crypto assets for profit. Starting with the Tezos…

Bitcoin (BTC) Price Could Rally Significantly Above $4,050

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Bitcoin price spiked higher and tested the main resistance at $4,050 against the US Dollar. The price is currently correcting lower, but dips remain supported near $4,000. There is an expanding triangle formed with resistance near $4,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip towards the $4,000 or $3,980 support before a fresh upward move. Bitcoin price is currently flirting with a major resistance zone against the US Dollar. BTC could rally significantly once there is a break above the $4,050…

Crypto Market In Clear Uptrend: Bitcoin Cash, XLM, EOS, TRX Price Analysis

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The total crypto market cap is climbing higher and it could break the $137.00 resistance level. Bitcoin cash price is placed nicely above the $170 level and it may accelerate above $172. EOS price extended gains above the $4.20 resistance and it may even surpass $4.30. Stellar (XLM) price tested the $0.1100 resistance level and recently corrected lower. Tron (TRX) is climbing higher towards the $0.0240 resistance level. The crypto market seems to be eyeing an upside break, with bullish moves in bitcoin (BTC) and Ethereum (ETH). Stellar (XLM), BCH,…