Day: September 23, 2019

Devs Remove BIP70 Payment Protocol From Bitcoin Core’s Default Settings

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Cryptocurrency advocates have recently discovered that Bitcoin Core (BTC) developers are planning to disable the payment protocol BIP70 supported by default in the Bitcoin Core version 0.19.0 client. According to developer discussions, full BIP70 support might be removed by version 0.20.0. Also read: How Merge Mining and Anchored Blockchain Projects Capitalize on Bitcoin’s Security Model Bitcoin Core Developers Remove BIP70 Payment Protocol From Version 0.19’s Default Settings There’s been a lot of discussion this week regarding the payment protocol BIP70 used by the cryptocurrency payment processor Bitpay. According to a…

R3 and Infosys Wrap up Global Trial of Blockchain Based Trade Finance

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Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys has completed a global five week blockchain trial in partnership with R3. advertisement Stephen Obasi, Group Head, Head Office Operations, Fidelity Bank, said:  “This is an audacious step by Infosys to simplify and revolutionize global trade finance practice using Blockchain technology. During the trial, processes which ordinarily would have taken days were concluded within hours by counterparties that are all connected in the ecosystem. The transparency, speed, trust and security offered by the platform makes the use case…

Bitcoin, Ether, and XRP Weekly Market Update September 23, 2019

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The total crypto market cap lost $5 billion of its value during the last seven days and now stands at $262.3 billion. The top 10 currencies registered mixed results for the same time frame with ether (ETH) and XRP (XRP) gaining 9.8 and 3.9 percent respectively while EOS (EOS) lost 7.7 percent. By the time of writing bitcoin (BTC) is trading at $9,896 while ether dropped to $208. Ripple’s XRP fell to $0.27 BTC/USD Bitcoin closed trading on September 15 at $10,300, losing one percent of its value for the…

South Korea: Cryptocurrencies not considered financial asset

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Cryptocurrencies, including the most popular and longest running Bitcoin, are neither legal tender nor a financial product as they are “not cash nor an equity instrument of another entity,” according to the latest decision by an international interpretative body of accounting practices. The decision on the much-disputed digital currencies, which will become an international standard in bookkeeping, is expected to pose further challenges to crypto business operators’ years-long efforts to make them recognized as legitimate currencies. This, however, will enable the government to establish a legal basis on taxation and…

Fidelity Affiliate Joins $3.5 Million Blockchain Firm Funding Round

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Blockchain analytics firm Elementus has raised $3.5 million from backers including a sister company of crypto-friendly asset manager Fidelity Investments. Morgan Creek Digital leads fresh cash injection As Fortune reported on Sept. 23, Elementus, which launched its offering in 2017, also gained capital from Stage 1 Ventures and Robot Ventures. Morgan Creek Digital, the crypto-focused asset manager co-founded by well-known commentator Anthony Pompliano, led the round.  The tie to Fidelity came in the form of Avon Ventures, a subsidiary of the private equity arm of Fidelity’s parent company, FMR.   Blockchain-not-Bitcoin…

The Chances and Challenges for Blockchain and Crypto

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Everywhere you look these days, there’s turbulence in the economy. A bitter trade war is seeing the United States and China slap ever-increasing tariffs on goods on a tit-for-tat basis. Over in the United Kingdom, never-ending uncertainty shrouds Brexit, with politicians in Westminster and Brussels at an impasse over the country’s imminent departure from the European Union.  A shock election result in Argentina caused the peso to crash, while hyperinflation in Zimbabwe and Venezuela means everyday essentials are dramatically rising in price on a daily basis. On top of all…

Prominent Crypto Investor Predicts $25k for Bitcoin, $1k for Ethereum in 2019

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Popular cryptocurrency evangelist and author William Mougayar recently gave a twitter price prediction of $25,000 for Bitcoin and $1,000 for Ethereum by the end of 2019. Is he to be taken seriously? Popular cryptocurrency evangelist and author of “The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology,” William Mougayar took to Twitter last week to make big and bold predictions for several cryptocurrency tokens; among them Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and others. In his extremely bullish prediction, he put Bitcoin’s price as at the…

UBS, Credit Suisse Interest ‘Clearly Picked Up’

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Peter Wuffli — the former CEO of major Swiss multinational investment bank UBS — says the advent of new, regulated actors in crypto is drawing the attention of big-name banks. Wuffli made his remarks during an interview with Finews, published on Sept 23. In 2008, he had left his role as CEO of UBS as the bank’s financial crisis losses spiraled, relinquishing over $10 million of his pay one month after the institution was bailed out by the Swiss government. More than a decade later, the former banker and recently-appointed…

Facebook Acquires ServiceFriend, Possibly Building a Chatbot for Calibra Wallet

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Facebook has acquired ServiceFriend which is a startup that builds bots. Experts are speculating that this is for the new Calibra wallet support service, however, Facebook hasn’t yet approved this news. While Facebook is prepping for its Libra launch in 2020, it also has acquired ServiceFriend which is a start-up that builds bots. Experts already have speculated that this is possibly meant for the Calibra wallet support service.  First, this news was published in an Israel where ServiceFriend is situated. One of its largest investors, Roberto Singler, alerted one of…

Top 3 Cryptocurrency Options Exchanges

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Although it has taken some time to come to fruition, demand for traditional derivative markets in the cryptocurrency trading arena is growing at an exponential pace. While the presence of Bitcoin futures trading has been around for some time now, it wasn’t until this year that a select number of platforms opened their doors to cryptocurrency options. This week, CME Group announced it will launch Bitcoin Options trading in Q1 2020. These are big news whom are also highly fundamental for the experienced trader. Not only do options contracts offer…