Day: May 15, 2019

We Haven’t Found a Blockchain Use Case in Finance

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Catherine Bessant, chief technology officer at Bank of America, admitted that the institution has yet to find blockchain use cases for the financial services sector. Bessant made her comments during an interview with Bloomberg published on May 14. Speaking to Bloomberg, Bessant said that — while she believes this technology to hold a lot of potential — blockchain is “full of sound and fury, yet to signify something.” Still, she noted that she believes blockchain has practical applications: “I believe that there are use cases that makes sense today, we…

Bitcoin Won’t Become Trillion-Dollar Asset Without More Bubbles

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The CEO of instant cryptocurrency exchange platform ShapeShift told Bloomberg TV on May 15 that bubbles are an essential part of the industry’s growth. Speaking in an interview, Erik Voorhees argued that the volatility seen in bitcoin (BTC) and altcoin markets over the years is a necessary phenomenon for a nascent asset. “There have to be bubbles in crypto because crypto is taking over the world, and it’s not just going to advance 5% per month without end,” he told the network. He then added: “If it did that, people…

Bitcoin Price Rally Stalls As Ether, XRP Shine

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View Alternative cryptocurrencies are flying high while bitcoin is having a breather above $8,000. Notably, ether (ETH) has hit a seven-month high of $235 and looks set to extend gains further toward $256 (Sept. 22 high) in the near-term. XRP, meanwhile, has confirmed a bull breakout. With hourly chart indicators diverging in favor of the bears and the daily relative strength index (RSI) reporting overbought conditions, bitcoin is looking increasingly vulnerable to a price pullback to the key rising trendline, currently placed above $7,200. Bitcoin could challenge Tuesday’s high of…

EBay Denies Rumors It Will Start Accepting Crypto, Despite Advertising at Crypto Event

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EBay has denied rumors that it is going to start accepting cryptocurrency as a payment method, according to a Bloomberg report on May 14. Speculation has been mounting since the e-commerce giant took out ads at the Consensus conference in New York City. One of the billboards said: “Virtual Currency. It’s happening on eBay.” It has been suggested that this week’s surge in crypto prices, which has happened without explanation, was linked to hopes that eBay was preparing to embrace crypto. Given how the online auction site bills itself as “the world’s largest marketplace,” such…

Fintech Firm Billion Seals $2.1 Mln European Commission Grant for Blockchain System

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Polish-British fintech firm Billon has reportedly sealed an almost €2 million (~$2.1 million) grant from European Commission’s Small and Medium-Sized Enterprises (SME) Instrument program to develop a blockchain document management system. The news was reported by Billion in a press release on May 14. The Commission’s SME Instrument program provides funding for innovation projects which are close-to-market, and has reportedly awarded Billon a grant under Phase 2 of the program — which provides enterprises with up to 70% of the costs of their proposed project. Billon’s system, dubbed B4TDM (Blockchain…

Live Scaling Solution for Bitcoin Blockchain

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RIF Labs announced their new project called Lumino went live. The project is designed to decrease the problem with scaling Bitcoin networks and considered to be “the first step towards a scalable network infrastructure.” The CEO of Diego Guitierz Zaldivar said: “The launch of the RIF Lumino Network is a major milestone in our path to enable a global and inclusive financial system. Blockchain scaling solution are a priority for both RSK and RIF because they are key to serving billions of individuals around the world that are excluded from…

After Institutions Drive Bitcoin To $8,000, Will Retail Investors FOMO in?

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It isn’t a secret that Bitcoin (BTC) has absolutely surged over the past six weeks. In that time period, the crypto asset rallied from a key resistance at $4,200 to $8,100, where it resides now. While such a move was covered incessantly by mainstream media outlets, little evidence indicated that consumers, who were likely still reeling in shock from Bitcoin’s $20,000 to $3,150 plunge, were taking notice. Related Reading: Crypto Analyst: Bitcoin Price Now Above Ideal Buying Zone, Shortest Duration Yet As Chris Burniske, a partner at Placeholder, suggested in…

Joseph Lubin and Jimmy Song Engage in $500K Bet Over the Future of Dapps

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Joseph Lubin. Photo: MoneyConf / Flickr Last year during the Consensus 2018 conference, Ethereum co-founder Joseph Lubin and Bitcoin developer Jimmy Song engaged in a heated discussion over the future of DApps. On one hand, Lubin was bullish that decentralized applications (DApps) have a bright future. But Song disagreed to this and decided to bet his money on it. He stated: “The only reason dapps exist is to raise money from gullible people or from greedy FOMO people, and that’s essentially what the ethereum platform has done.” Being a hardcore…

Crypto Prime Dealer SFOX Partners With New York Bank to Offer New FDIC Protection

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Institutional cryptocurrency prime dealer SFOX has partnered with a New York bank to offer state-insured bank accounts for traders, the company confirmed in a blog post on May 14. SFOX, which says the move is an industry first, stated the deal with M.Y. Safra Bank primarily targeted institutional investors and funds. The company has been active in the trading space since 2014, and counts businesses such as Blockchain.com and Overstock subsidiary tZero among its clients. With Safra, SFOX traders will now have access to insurance through the United States government’s…

PR: Bitcoin.com Partners With Travala.com to Boost Bitcoin Cash Adoption

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The partnership will see Travala.com integrated in the official Bitcoin.com wallet with almost 4 million users London, United Kingdom –– May 15, 2019 — Travala.com, – leading blockchain travel booking platform, has announced a partnership with Bitcoin.com to empower millions of travelers to save on hotel stays. Travala.com is transforming the travel industry, by offering an average of 15% savings on hotel bookings as well as the option to pay with several leading cryptocurrencies, including Bitcoin and Bitcoin Cash. This partnership will empower millions of users to participate in a…