Day: August 12, 2019

Which Countries Expect to Go Digital Soon?

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The Liberal Party of Australia recently proposed a draft bill clarifying that purchases of over 10,000 Australian dollars (around $6,750) in cash would not be legal. According to the government, this step will dissuade tax evasion and encourage a transition to a cashless society.  According to the document, transactions equal to or exceeding the stated amount should be carried out using an electronic payment system or by checks. Those payments also must be reported by an entity under Anti-Money Laundering (AML) and counter-terrorism legislation. In this case, cryptocurrencies are considered…

EY Hired to Help Develop Blockchain-Based Fine Wine Trading Platform

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A blockchain-based fine wine investment trading platform has selected Big Four auditing firm EY to provide technology services as its development continues. WiV Technology enables clients to trade bottles and cases of premium wine, with the origin, quality and value of assets certified on a constantly updated blockchain. In a news release on Aug. 12, EY said that wine will be tokenized through the use of non-fungible ERC-721 tokens on the platform. Saving cost and time Smart contracts are used to track wine ownership and transaction history, and the properties of…

Goldman Sachs Analysts Say that It’s Time to Buy Bitcoin

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Goldman Sachs Securities Division analysts, in a note to investors, have shared a bullish attitude towards Bitcoin. They even encourage investors to buy Bitcoin on this dip. Recently, Three Arrows Capital CEO Su Zhu has shared the Goldman Sachs note which was sent out to investors. In the note, Goldman Sachs analysts suggest that buying this Bitcoin dip is a prime opportunity. The note itself consisted of a Bitcoin CMI futures chart and a comment from the analysts. What is more surprising: that Goldman Sachs has a bullish target on…

The Good, The Bad And the Future

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In June 2019, the Financial Action Task Force (FATF), an inter-governmental agency created to address and reduce international money laundering, terrorist financing, and other financial threats, released new guidelines for international banks. These standards were also affirmed by the G20 in June. A collective agreement was made to apply the rules at the G20 meeting in Fukuoka, Japan and communicated by the Japanese Ministry of Finance in a statement. Bad News for South Korean Cryptocurrency Exchanges The first inklings of enforcement of these actions took place last week in South…

IBM and Tata Become Governing Council ‘Owners’ of Hedera DLT Platform

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Public distributed ledger Hedera Hashgraph has announced that IBM and Tata Communications have joined its governing council. In a news release on Aug. 12, the platform described the addition of the two firms as a “powerful endorsement” of its hashgraph consensus mechanism. “Diverse array” of council members Mance Harmon, the CEO of Hedera Hashgraph, said IBM and Tata Communications’ presence further decentralizes the platform’s governance, adding: “Our governance model, which includes a robust system of checks and balances, ensures power can’t be consolidated, while at the same time providing a…

US Unveils FedNow, Bitcoin Cash Vs. Coinbase

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In the latest episode of “Coffee and Crypto,” Cointelegraph’s head of editorial Olivia Capozzalo and head of news Molly Jane Zuckerman have discussed the biggest headlines in the crypto world — armed with steaming cappuccinos. The cappucci-news In the video, Capozzalo and Zuckerman have a packed agenda. First, they make sense of the news that the United States Federal Reserve has started developing a 24/7 system for real-time payments — sparking endless questions and comparisons to Bitcoin (BTC) and Ripple’s XRP. Zuckerman says: “I hear the words ‘real-time payment and…

Bitcoin Is a Hedge Against US-China Trade War Fallout, Says Grayscale

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Investment firm Grayscale claims bitcoin is a viable hedge against the increasing market volatility triggered by the US-China trade war. Source: Shutterstock An escalating trade war between the world’s two most powerful economies is paving the way for a broader bitcoin adoption, at least according to Grayscale Investments, LLC. The New York-based asset management firm on Thursday published a report wherein it recommended fund managers to consider adding bitcoin to their portfolio as a measure against the ongoing US-China trade tensions. Calling the cryptocurrency “an exciting financial technology and investment…

Goldman Sachs Gets Bullish on Bitcoin With a Price Target of $13,971

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In a note to customers, Goldman Sachs gave a bullish forecast for Bitcoin price. Shared on Twitter, Aug. 11, the note suggests a short-term target of $13,971. Bullish analysis based on Elliott Waves The target given is based on Elliott Wave Theory, which forecasts market trends by identifying extremes in investor psychology, along with price highs and lows. According to the analyst, Bitcoin will rebound from support around $11,094, leaving room for at least one leg higher towards $12,916 and $13,971. This could complete a V wave count from July,…

10 Global Enterprises Looking to Issue Their Own Cryptos

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The growing popularity of cryptocurrency has led to a revolution in the digital currency industry. Enterprises that were of noncrypto origin now have or plan to have their own crypto product. The 10 years of cryptocurrency’s existence has led to an unprecedented ease of transactions. It has also brought transparency into the e-commerce world. This article discusses 10 of the biggest enterprises in the world, without a cryptocurrency background, that have already created or are in the process of investing resources to develop a digital currency they can call their…

IBM, Tata Become First Big Techs to Back Hedera Hashgraph Blockchain

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IBM and Indian telecom company Tata Communications have joined the governance council of Hedera Hashgraph, a public blockchain network for enterprises. Now, eight of the 39 available spots for governing council members are filled, the network announced Monday. “Our goal is to create the most decentralized governing body of any of the major public platforms,” Mance Harmon, CEO of Hedera, told Coindesk. “We’re covering multiple industries … and we’re wanting global coverage.” Hedera claims its flavor of distributed ledger technology (DLT), which works differently than blockchains, can facilitate micropayments and…