Day: May 2, 2019

World Economic Forum Teams Up With 100 Logistics Firms, 20 Gov’ts in New DLT Project

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The World Economic Forum (WEF) has teamed up with over 100 global supply chain and logistics leaders to standardize blockchain apps in the industry, the organization announced on May 1. The WEF, a Switzerland-based organization whose motto is commitment to “improving the state of the world,” has announced a new project called “Redesigning Trust: Blockchain for Supply Chains.” The project aims to form a broad multi-stakeholder community to co-develop interoperable blockchain applications in the logistics industry and to leverage an open-source toolkit to deploy blockchain responsibly, eliminating the hype around…

Why Bitcoin Cannot Fix the Socioeconomic Crisis in Venezuela [For Now]

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Venezuela has seen its national currency become practically worthless after undergoing one of the worst economic crisis in history. The inflation is all-time high – all the essential goods such as medicines and even toilet papers have soared in value. More citizens are leaving the country every day, while the ones who cannot afford to migrate are protesting on streets against the government. As a result, many Venezuelans are turning to cryptocurrencies like bitcoin as a haven against the super-weak Bolivar – at least those who have the technical knowledge…

Ripple Dips Into Escrow Wallet to Move $300 Million in Crypto

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By CCN.com: Ripple Labs moved 1 billion XRP out of escrow yesterday, currently valued at around $300 million. Part of a monthly transfer, Ripple reportedly moves any excess funds back into escrow at a later time, or in the case of last month’s escrow, waits until next time to use any. The 55 billion XRP escrow account was created about two years ago to ensure liquidity and supply. Business as usual XRP’s reported 24-hour volume was over $850 million by press time, meaning that if the entire amount had been…

Stalwart Crypto Investor Andreessen Horowitz Raises $2.75 billion for Two New Funds

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Silicon Valley-based venture capital firm and high-profile crypto investor Andreessen Horowitz has raised $2.75 billion for two new funds, according to a company announcement published on May 1. The lion’s share of the new capital will go toward a specialized $2 billion late-stage venture fund (LSV Fund I), headed by Andreessen Horowitz general partner David George. The $750 million has meanwhile been raised for a sixth general fund — focused on early-stage enterprise, consumer and fintech offerings — which will sit alongside the company’s existing specialized cryptocurrency and bio funds.…

How to Accept Bitcoin Cash Payments With Coingate

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Receiving cryptocurrency payments is an option many companies have explored and implemented in the past few years. Online merchants can use a growing number of platforms to process orders paid with digital coins and Coingate is one such established service in this niche. Also read: This App Teaches You How to Become a Bitcoin Cash Trader Payment Gateway Supports Crypto Options Coingate allows web-based businesses to accept payments from their customers in several of the most popular cryptocurrencies. That includes bitcoin cash (BCH), which is known for its fast and…

Bitcoin Has Stronger Bullish Potential than Altcoins, Here’s Why

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The bitcoin market’s bullish bias is looking stronger than other altcoins, according to Josh Rager. The cryptocurrency analyst said Wednesday that bitcoin was among the only crypto assets that managed to jump above a significant resistance level on monthly charts. In contrast, other top crypto assets including Litecoin, Ethereum, and EOS failed to close above a similar level in their respective markets, as shown below. Bitcoin Price Closing Above a Key Resistive Junction | Source: Josh Rager, Twitter Historical Significance Rager considered $4769.03 as a significant resistance level for bitcoin.…

Bitcoin Has Stronger Bullish Potential than Altcoins, Here’s Why

boss

The bitcoin market’s bullish bias is looking stronger than other altcoins, according to Josh Rager. The cryptocurrency analyst said Wednesday that bitcoin was among the only crypto assets that managed to jump above a significant resistance level on monthly charts. In contrast, other top crypto assets including Litecoin, Ethereum, and EOS failed to close above a similar level in their respective markets, as shown below. Bitcoin Price Closing Above a Key Resistive Junction | Source: Josh Rager, Twitter Historical Significance Rager considered $4769.03 as a significant resistance level for bitcoin.…

Blockchain Investor Grandshores Tech Turns to Industrial Cannabis After Crypto Market Rout

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Hong Kong-listed contractor turned blockchain investor Grandshores Technology — backed by the Hangzhou municipal government — plans to enter the medicinal and industrial cannabis market in a bid to counter the adverse impact of crypto winter. The development was revealed in a report from local English-language newspaper the South China Morning Post on May 2. The firm’s co-chairman Yao Yongjie has reportedly stated that industrial cannabis cultivation will become the company’s new business focus, drawing on resources previously reserved for global blockchain investment. Yao —  a founding partner of the…

Binance’s Compliance Drive Continues With New Elliptic Partnership

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Cryptocurrency exchange Binance is continuing to ramp up its regulatory compliance efforts. The exchange has just partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities, Elliptic announced Thursday. The new partnership – the third relating to compliance in the last two months – will help Binance combat money laundering as it grows into new jurisdictions, the exchange’s chief compliance officer Samuel Lim said. Elliptic’s software helps identify potential transactions linked to illicit activities such as money laundering and terrorist financing, and is claimed to have monitored risks…

Diamond Standard Launches Blockchain-Powered Token Backed by Real Gems

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As a store of value, diamonds have their advantages over gold. They’re small, portable, and easy to grade. But, even though they pack in more value per ounce, diamonds are much harder to standardize into a form of exchange. Now a company called Diamond Standard believes it has solved that problem by combining a hardware solution with a blockchain twist. How does it work? Gold is often traded in standardized “bars.” Diamond Standard is aiming to do the same with diamonds. Diamond Standard sells sets of diamonds come in coin-sized discs…