Day: September 18, 2019

US FDA to Hold Meeting on Blockchain and AI in Food Traceability

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The United States Food and Drug Administration (FDA) will hold a public meeting at which it will discuss its “New Era of Smarter Food Safety” initiative. Per a Sept. 17 announcement, the FDA set up a meeting with a group of international stakeholders on October 21, 2019, to discuss public health challenges and the implementation of the Food Safety Modernization Act. Specifically, the FDA intends to establish “a more digital, traceable, and safer system” to protect consumers from contaminated food. Efficient tracking of contaminated food The initiative proposes to deploy…

Wells Fargo to Launch USD-Pegged Stablecoin for Internal Settlements

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US multinational megabank Wells Fargo & Co. (NYSE:WFC) has revealed plans to launch a US dollar-linked stablecoin that will run on the company’s first blockchain platform. The “Wells Fargo Digital Cash” The service, dubbed “Wells Fargo Digital Cash,” is a tokenized dollar that will be used in internal settlement across the firm’s business. The stablecoin will be piloted first and will debut next year. It’s initially targeting USD transfers, but there is a wider plan to accommodate transfers in other currencies within the company’s blockchain network. On Tuesday, the company…

North Korea in Early Stages of Building Own Cryptocurrency

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North Korea is reportedly in the early stages of developing a cryptocurrency similar to Bitcoin (BTC). Pyongyang trying to evade sanctions According to a Vice News report on Sept. 18, the project is designed to help the Democratic People’s Republic of Korea (DPRK) evade international sanctions and find a way around “the U.S.-dominated global financial system”. Alejandro Cao de Benos, the official in charge of North Korea’s crypto conferences, said its yet-to-be-named digital currency will be “more like Bitcoin or other cryptocurrencies.” Cao de Benos, who is also a special delegate for the Committee for…

Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs

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Throughout much of the bear market, one of the themes that kept crypto investor’s hope alive in crypto investors was the thought that Bitcoin was being accumulated, according to Wyckoff theory, at low prices by major players and institutions. After that, eventually, the markup phase would occur and the first-ever crypto-asset would be back in a bull market in no time. Now that Bitcoin price has indeed been marked up, by as much as 340% at its peak and is consolidating before its next move, the market appears undecided if…

Facebook Met British Authorities Prior to Libra’s Official Announcement

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Facebook reportedly met British authorities and regulatory officials three times prior to publicly announcing plans for the Libra stablecoin project. As Reuters reported on Sept. 18, this spring Facebook had several appointments with officials at Britain’s finance ministry, the Financial Conduct Authority and the Bank of England. Reuters received details regarding the meetings after submitting freedom of information requests. At the meetings Facebook discussed its forthcoming digital currency Libra in a bid to get support from  authorities before the official announcement. Libra’s attempts to get regulatory approval Libra has been…

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

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Futures contracts on bitcoin cash can be available at a CFTC-regulated exchange by the end of this year or the first quarter of 2020. This will allow institutional U.S. investors to trade on a derivative of the cryptocurrency and bring in more trading volume for BCH overall. Also Read: HTC Adds Native Bitcoin Cash Support to Its Flagship Smartphone Bitcoin.com Champions Bitcoin Cash Futures Bitcoin.com is in discussions about listing a bitcoin cash (BCH) futures contract on a new exchange with approval from the U.S. Commodity Futures Trading Commission (CFTC).…

Retail Giant Overstock Seeks to Restructure Cryptocurrency Dividend

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American e-commerce giant Overstock hopes to liberalize its planned digital dividend shares trading. According to a Sept. 18 press release, Overstock is working with regulatory authorities on making its digital asset-based dividend freely tradable by non-affiliates following distribution. As such, the company will not have to put its dividend shares on the six-month holding period as required under Rule 144 enforced by the United States Securities and Exchange Commission. Commenting on the development, interim CEO of Overstock Jonathan Johnson said: “We have received a great deal of interest surrounding our…

Binance Invests in Chinese Crypto News Publication Mars Finance

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One of the largest crypto exchanges in the world, Binance, made its first strategic Chinese investments since leaving China back in 2017. Binance joined the third funding round of Beijing-based Mars Finance, a local crypto and blockchain news publication. The exact amount invested wasn’t disclosed; however, Chinese media and data source Mars Finance is valued at somewhere in the vicinity of $200 million. According to Bloomberg, Mars Finance can be a potential rival to leading crypto and blockchain news outlets such as CoinDesk, CoinTelegraph and our very own AllStocks Crypto…

Indian Car Manufacturer Tata Motors Calls for Automotive Blockchain Tech

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Indian automobile manufacturer Tata Motors wants to integrate blockchain solutions into its internal processes as part of a newly launched program for startups. As Business Insider India reported on Sept. 18, Tata Motors has rolled out a program for startups dubbed “Tata Motors AutoMobility Collaboration Network 2.0,” through which it intends to develop a range of industry-related products, including artificial intelligence and blockchain-enabled solutions. The firm wants to apply blockchain-based solutions in various aspects of the automotive industry, including parking marketplace, demand prediction algorithm and real-time monitoring of fuel quality.…

Crypto Not Competitive With Gold: Barrick Gold Exec

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Catherine Raw, the North America COO of the largest gold mining firm in the world, Barrick Gold, said that she does not think cryptocurrencies are competitive with gold, Fortune reported on Sept. 18. Raw made her remarks yesterday at Fortune’s Most Powerful Women International Summit, where she stated: “The very tangible nature of gold is what keeps a special place for it. So it will always have value, whatever the price is, I don’t know, but it will not be zero. Whereas cryptocurrency could be zero — that’s the difference.”…