Day: July 31, 2019

Optimism Dwindles as Indian Finance Minister Evasive on Crypto Ban Bill

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The crypto industry in India is still in limbo this week while politicians acknowledge the proposed ban bill but remain evasive. The shift from regulation to blanket ban has sent shock waves through the nascent industry in the world’s second most populous country. Finance Minister Responds to Crypto Bill According to a new report examining the time line of the proposed blanket ban, it was a last minute decision. The storm started brewing in late 2017 when the Inter-ministerial Committee (IMC) concluded that banning the use of cryptocurrencies would be…

Beating Bakkt, LedgerX Is First to Launch ‘Physical’ Bitcoin Futures in US

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The Takeaway Bitcoin derivatives provider LedgerX announced it has launched the first physically-settled bitcoin futures contracts in the U.S. Wednesday. The contracts, which pay traders out in bitcoin, rather than U.S. dollars, will be available to both institutional and retail investors. Customers can deposit bitcoin, rather than dollars, when buying a contract. LedgerX has beaten the Intercontinental Exchange’s Bakkt and TD Ameritrade-backed ErisX to the punch with its new offering. Any U.S. resident with a government-issued I.D. can now trade futures contracts for real bitcoin. Revealed exclusively to CoinDesk, LedgerX…

Canada’s TruTrace Blockchain Technologies Joins the Flowr Project for Validation of Medical Cannabis at Shoppers Drug Mart

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Canadian Blockchain company TruTrace Technologies has teamed up with The Flowr Corporation and joined the Shoppers Drug Mart medical cannabis verification pilot program which was announced last month at the World Cannabis Congress. The Pilot Program is intended to increase transparency, interoperability and product identification within the medical cannabis industry. Under the StrainSecure program, the TruTrace team collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation.  “We are very pleased to see Flowr…

Token Burning, Explained | Cointelegraph

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2. Although the concept is straightforward, token burning can be accomplished in different ways. The goal is to reduce the existing number of tokens available. Although it sounds extreme, burning tokens doesn’t disintegrate them literally, but it does render them unusable in the future. The process involves the project’s developers repurchasing or taking available currency out of circulation by removing them from availability. To do so, the tokens’ signatures are put into an irretrievable public wallet known as an “eater address” that is viewable by all nodes but perma-frozen. The…

B3i releases first Blockchain Insurance product on Corda

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B3i – a Blockchain insurance startup – is launching on R3’s Corda blockchain platform.  In a recent press release, B3i stated the v1.0 of its Property Catastrophe Excess of Loss Reinsurance product is now live on the Corda Network and trails the successful testing of the live version of the application last month. Sylvain De Crom, B3i Chief Product Officer said: advertisement “B3i is shipping its first application and this is our first opportunity to share with the wider market, not only the Cat XoL application, but also the wider…

Bitcoin Rises as Markets Expect Decade’s First Fed Rate Cut

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The bitcoin price was higher on Wednesday morning as investors prepared themselves for the outcome of the Federal Reserve’s meeting later in the afternoon. At around 07:00 UTC, the BTC/USD instrument established a local high of $9,814.61, up close to 3 percent in the previous 24 hours. Futures on CME were also up by 2.31 percent. Bitcoin’s upside also influenced other cryptocurrencies to follow suit, with Ethereum, XRP, Litecoin, and Binance Coin surging in the range of 2-3 percent. Bitcoin Cash, meanwhile, registered profits of more than 5.5 percent, the…

Sony Subsidiary Joins ~$14.5M Funding Round for Bitcoin Bank Bitwala

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Germany-based Bitcoin (BTC) bank Bitwala announced that it received €13 million (almost $14.5 million) in funding in a press release shared with Cointelegraph on July 31. Connecting Bitcoin and banks Per the release, an international investor consortium led by Sony Financial Ventures, Global Brain and British investment company NKB Group invested in the German bank. Furthermore, half of the funds have been reportedly provided by investors Earlybird Venture Capital and coparion. Jan Goslicki, co-founder and Chief Compliance Officer at Bitwala declared: “We started Bitwala to do something that nobody thought…

Bitfinex, Tether Spent $500,000, Hired 60 Lawyers for Documents Order

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Lawyers for Bitfinex, Tether and parent firm iFinex Inc. have said the respondents have already spent over $500,000 responding to document requests for their ongoing legal battle. The lawyers’ letter —  submitted to Justice Joel M. Cohen on July 30 and shared by Altana Digital Currency Fund CIO Alistair Milne via Twitter on the same date — reveals the apparent costliness and complexity of complying with document demands for the state investigation. As previously reported, the case against the respondents began on April 24, when the Office of the New…

Bitcoin Price on Track to Post First Monthly Loss Since January

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View Bitcoin looks set to end its five-month winning streak with prices currently down 9 percent from the monthly opening price of $10,759, according to Bitstamp data. A low-volume price breakout seen on 4-hour chart indicates BTC may have a tough time scaling key resistance at $10,235 in the next few hours. Long-term charts retain the bullish bias despite the monthly loss. A UTC close above $11,120 is needed to revive the short-term bullish outlook. Bitcoin (BTC) appears on track to end July on a negative note, having logged gains…

Crypto Markets See Second Day of Green, Bitcoin Above $9,700

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Wednesday, July 31 — crypto markets are seeing widespread green, with Bitcoin (BTC) breaking back above $9,700 and many large market cap altcoins seeing solid gains of between 3 and 9% on the day. Market visualization. Source: Coin360 Despite trading in a lower price range since dropping back to a four-figure price point in a recent corrections, BTC is today up a solid 2.4%, bringing it to $9,717 by press time.  This mild uptick nonetheless stops short of bringing the coin back into the green on its 7-day chart, where…