Month: April 2019

The Ramping Up of the Corporate Exodus into Blockchain

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Photo: Pixabay Two weeks ago we used this space to talk about a report written by Professor Dr. Tim Weingartner of Lucerne University on the role blockchain technology and tokenization is playing in the construction of the new, digital world. Weingartner wrote about a virtual reality that was superseding a no-longer adequate physical one. Displacement of the old structure in favor of the new was inevitable and would be felt in all aspects of life, and blockchain was helping to bring this about. Using Dr. Weingartner’s research, we argued that…

11% of Americans Own Bitcoin, Major Awareness Increased Since 2017

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11% of the American population owns the major cryptocurrency bitcoin (BTC), according to a new survey published by Spencer Bogart of venture capital firm Blockchain Capital on April 30. Blockchain Capital partner Bogart today posted the results of a new survey conducted by Harris Poll in order to provide analytics data on bitcoin’s demographic trends. Conducted between April 23, 2019 and April 25, 2019, the survey included answers of 2,052 American adults and represents an expanded version of the previous demographic survey released by the firm in October 2017. According…

Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers

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The company behind USD stablecoin Tether (USDT) only has enough cash to back three-quarters of its increasing supply, its lawyers confirmed in documents released on April 30. As part of an ongoing legal process involving the New York Attorney General, Zoe Phillips of law firm Morgan Lewis said that at the time of writing, 74% of Tether’s reserves had USD and equivalent backing. The figure falls short of previous promises given by Tether executives, specifically that every USDT token had full fiat backing, something a bank statement appeared to confirm…

Nasdaq to Add XRP Liquid Index, Crypto Bulls Rush In

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By CCN: Nasdaq exchange is adding Brave New Coin’s XRP Liquid Index tomorrow, sending crypto traders into a bull frenzy. Within an hour of the announcement, XRP had surged by about 4%. The XRP price surged on a bullish Nasdaq development. | Source: Yahoo Finance The announcement comes within months of Nasdaq adding Brave New Coin’s (BNC’s) Bitcoin and Ethereum Liquidity Indexes – BLX and ELX. They are all part of the Nasdaq Global Index Data Service. The launch of crypto indices is clearly significant because it plays right into…

Crypto Is Not a Store of Value

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Dave Ramsden, deputy governor of the United Kingdom’s central bank, has said that crypto assets are too volatile to be a store of value. Ramsden made his comments in an interview with CNBC published on April 30. Bank of England (BOE) deputy governor Ramsden noted that over a year ago, the U.K.’s Financial Policy Committee (FPC) had concluded that cryptocurrencies’ volatility meant that they could not be a store of value. Furthermore, the FPC also came to the conclusion that cryptos are not a practical medium of exchange because the…

JPMorgan Chase Senior Executive Becomes CEO of Blockchain Precious Metals Firm

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Blockchain-powered precious metals platform Tradewind has appointed an ex-JPMorgan Chase executive as its new CEO, the company confirmed in a press release on April 30. Michael Albanese, who previously worked as the bank’s Global Head of Agency Collateral Management and Global Head of Securities Clearance, will take over Tradewind’s operations immediately. Those currently include the management of the company’s flagship metals market, which employs blockchain to streamline custody, trade and security of precious metals. “Michael is a leader with significant experience working with corporations, creating capital-efficient products, operating at scale,…

Sia: blockchain cloud storage that actually works

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Like many of you, I am an investor who is bullish on cryptocurrency and an avid supporter of blockchain. I believe that blockchain can bring about invaluable services that reinvent the way we carry out our daily lives as well as the very fabric of society. It will give governance and ownership rights back in the hands of the individual through transparent, freely auditable networks that put emphasis on individual privacy, removing needless middlemen eating up our time and money for their own benefit.  Amongst the sea of scammy blockchain…

Elon Musk Wants Ethereum’s Best Applications. Vitalik Buterin Delivers 13

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Elon Musk is getting deeper and deeper down the cryptocurrency habit hole. After yesterday’s mysterious tweet which read simply “Ethereum,” the Tesla chief then asked Ethereum founder Vitalik Buterin for suggestions on what to develop on the blockchain platform. What should be developed on Ethereum? — Elon Musk (@elonmusk) April 30, 2019 Buterin responded with a list of 13 real-world use cases for cryptocurrency and blockchain technology. The list included everything from payments to insurance to new governance systems. Here’s Vitalik Buterin’s list in full. 1. A globally accessible financial…

Elon Musk Wants Ethereum’s Best Applications. Vitalik Buterin Delivers 13

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Elon Musk is getting deeper and deeper down the cryptocurrency habit hole. After yesterday’s mysterious tweet which read simply “Ethereum,” the Tesla chief then asked Ethereum founder Vitalik Buterin for suggestions on what to develop on the blockchain platform. What should be developed on Ethereum? — Elon Musk (@elonmusk) April 30, 2019 Buterin responded with a list of 13 real-world use cases for cryptocurrency and blockchain technology. The list included everything from payments to insurance to new governance systems. Here’s Vitalik Buterin’s list in full. 1. A globally accessible financial…

This App Teaches You How to Become a Bitcoin Cash Trader

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If you are new to the crypto space and want to learn more about trading there’s a useful app that focuses on one of the most popular cryptocurrencies. Bitcoin Cash: Online Course gives you the basics and explains in detail the instruments that any successful trader should be using such as fundamental and technical analyses. Also read: How to Create a Bitcoin Cash Wallet With Cashaddress Learn the Basics of Crypto Trading and the Advantages of Bitcoin Cash Bitcoin Cash: Online Course is a mobile application developed for Android devices.…