Bank of China (BoC), one of the four largest government-owned commercial banks in the country has released an infographic aimed at creating awareness about the world’s flagship cryptocurrency, Bitcoin (BTC). The infographic explains how bitcoin works, its volatile nature and more, as per a post from the BoC, on July 26, 2019. China Still Interested in Bitcoin? China’s draconian stance towards bitcoin and other cryptocurrencies may have started fading away, if the actions of the nation in recent times are anything to go by. In the latest development, the Bank…
Month: July 2019
Crypto Market & Bitcoin Poised for Declines: BCH, Litecoin, TRX, XLM Analysis
The total crypto market cap is under a lot of pressure below the $260.0B and $270.0B resistances. Bitcoin price is down more than 2% and it is currently trading well below $9,600. Litecoin (LTC) price failed to stay above the key $90 support and it could extend downsides. BCH price slowly moving lower towards the main $300 support level. Tron (TRX) price broke the $0.0220 support and it may soon test the $0.0210 support. Stellar (XLM) price is declining and it is likely to revisit the $0.0800 support level in…
Ripple Price (XRP) Trend Near-Term Negative, Similar To Bitcoin
Ripple price recovered recently above $0.3100, but struggled to break $0.3140 against the US dollar. The price is currently declining and it might even break the $0.3050 support area in the near term. There is a key bearish trend line forming with resistance near $0.3105 on the hourly chart of the XRP/USD pair (data source from Kraken). The price remains at a risk of more downsides as long as there is no break above $0.3140-0.3150. Ripple price is currently following a bearish pattern against the US Dollar, similar to bitcoin.…
Ethereum Price (ETH) Flirts With Key Resistance Amid Negative Sentiment
ETH price remained supported above the $205 level, but struggled to gain traction against the US Dollar. The price is facing a few key resistances near the $212 and $215 levels. There is a contracting triangle forming with resistance near $211 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either rally above the $215 resistance or it might soon retest the $200 support level. Ethereum price is still facing a strong selling interest versus the US Dollar and bitcoin. ETH price needs to surpass the…
Project Manager at Square Crypto Stresses Focus on Bitcoin in Twitter AMA
Steve Lee, a project manager at Square Crypto — the crypto arm of the payments company Square — made a number of recent remarks that solidify the company’s emphasis on Bitcoin (BTC). Lee commented to this effect in the course of an “ask me anything” (AMA) session via Twitter on July 29. Jack Dorsey had previously discussed how Square Crypto aims to develop the crypto ecosystem in general, and is taking steps to improve infrastructure for all — not just Square. However, the recent AMA indicates that Bitcoin is playing…
US Defense Dept. to Experiment With Blockchain-Based Security
The United States Department of Defense (DoD) is pursuing blockchain solutions for cybersecurity as part of its digital modernization strategy. The DoD released plans for blockchain tech in its four-year roadmap on July 12, entitled “DoD Digital Modernization Strategy: DoD Information Resource Management Strategic Plan FY19–23.” According to the report, the DoD’s research branch, the Defense Advanced Research Projects Agency (DARPA), is currently engaged in at least two exploratory blockchain projects focused on cybersecurity. First, DARPA is experimenting with blockchain in order to construct a new — or improved —…
Head of SEC Enforcement Dept. for Cryptocurrency, Cyber Security Resigns
The chief of the United States Securities and Exchange Commission (SEC) Division of Enforcement’s Cyber Unit, Robert A. Cohen, has stepped down from his role at the commission. According to an official announcement by the SEC, Cohen served as the first chief of the Cyber Unit since its inception in 2017. The Cyber Unit is in charge of securities violations pertaining to cryptocurrency and digital assets, in addition to cyber-related trading violations and cybersecurity disclosures and procedures. During his time leading the unit, Cohen supervised a number of investigations, including…
Chile-Based Remittance and Payment Firm CurrencyBird Joins RippleNet
Chile-based peer-to-peer remittance company CurrencyBird has joined RippleNet, Ripple’s global blockchain-based network of payment providers, according to an announcement published on July 25. CurrencyBird has thus ostensibly become the first Chilean payments company to join RippleNet, a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to send money globally. The company states in the post that the partnership will allow it to add new routes to its more than 50 already existing destinations, new currencies, better prices and faster transfer speeds. …
Blockchain Startup Nets $2.4 Million in Public Funding to Fight Food Slavery
Blockchain startup Lumachain has received $2.4 million in public funding from Main Sequence Ventures, a $165.6 million venture capital fund backed by the Australian government and the federal Commonwealth Scientific and Industrial Research Organisation. Lumachain’s newly-received funds will go toward staffing fees as well as international expansion, according to a report by local financial news periodical the Australian Financial Review (AFR) on July 29. Lumachain reportedly uses blockchain technology to track and trace the condition and whereabouts of food products along the supply chain in real time. According to Lumachain’s…
Circle CEO to Testify Before Senate on Blockchain and Digital Assets
Circle co-founder and CEO Jeremy Allaire is scheduled to testify before congress tomorrow as a representative of The Blockchain Association — a business organization comprised of blockchain industry advocates. Allaire will testify before the Senate Committee on Banking, Housing and Urban Affairs in an open session hearing called “Examining Regulatory Frameworks for Digital Currencies and Blockchain.” In his prepared testimony released on July 29, Allaire is prepared to discuss a number of relevant issues, including identity, privacy, data security, domestic and international approaches to regulation, as well as the potential…