A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction. The transaction was processed using blockchain and Internet of Things (IoT) platform developed by local trade financing firm iTrust Trading, Yahoo Singapore reports Oct. 17. By applying iTrust’s blockchain-based IoT, CIMB intends to minimize the risks associated with commodity trade financing and facilitate credit extension for its customers by gaining access to real-time monitoring of the cargo data in transit and in the warehouse. The technology reportedly provides…
Day: October 17, 2019
BiboxEurope Announces Yet Another Development – Fiat Trading for Quality Projects
BiboxEurope, a fully regulated cryptocurrency trading platform based out of Switzerland has been keeping itself busy since its launch a few months ago. In a bid to offer the best of features to its userbase, the platform has recently announced the launch of fiat trading capability for quality projects listed on BiboxEurope. The latest development closely follows its earlier announcements of GBP/Crypto trading support, referral rewards program, crypto Insta-buy with credit cards and more. According to the company, the latest fiat trading capability for selected projects will allow blockchain projects…
Bitcoin Corrects Above $8K against Weak US Data, Brexit Deal
Bitcoin was attempting to hold $8,000 as support on Thursday after it slipped briefly below the said level yesterday. The benchmark cryptocurrency surged by 0.83 percent, or $66.14, to trade at $8,059.68. The move uphill came after a depressive price action on Wednesday that took the bitcoin price below the $8,000 support level. At its intraday lowest, the cryptocurrency was trading at $7,908.86. Bitcoin attempts a weak pullback after dropping below $8,000 on Wednesday | Image credits: TradingView.com Weak US Economic Data The bitcoin’s loss and subsequent mild recovery came…
OKEx: Redefining the Blockchain Industry
The cryptocurrency industry, as it stands today, is quite different from what it was a couple of years ago. At that time, the industry had its own sets of challenges which included, scams, hacking attacks, lack of recognition, transparency and regulatory frameworks. However, thanks to a few players who took those much-needed steps to address these shortcomings, there have been considerable improvements in the segment, making it almost on-par with traditional technology and financial systems. One of the leading global digital exchange platforms, OKEx has decided to take the community…
Crypto-Friendly Browser Brave Hits 8 Million Monthly Active Users
Cryptocurrency-powered web browser Brave announced on Oct. 16 that it reached 8 million monthly active users. Furthermore, daily active users stand at over 2.8 million and the number of creators subscribed to its web advertisement network also reportedly substantially increased. There are also over 290,000 Brave Verified Publishers who subscribed to the advertisement platform powered by Brave’s Basic Attention Tokens (BAT). The composition of those publishers is the following: “200,000 of those are YouTube creators, 33,000 are website publishers or creators, 15,000 are Twitch streamers, and since we announced our…
Ford Explores New Blockchain and Geofencing Tech to Lower Emissions
Ford Motor Company in Europe examines new innovative geofencing and blockchain technologies incorporated into the company’s new fleet of plug-in hybrid electric vehicles (PHEVs). Geofencing allows Ford vehicles to document, record and even automatically switch the emission modes according to regional weather or environmental conditions as well as emission-controlled zones, while blockchain technology enables secure and error free recording of vehicle emission data. Ford has introduced two versions of PHEVs called Transit Custom Plug-In Hybrid and Tourneo Custom Plug-In Hybrid, which are ideal for driving in urban areas. For intercity…
Bitcoin Price Struggling to Hold Above $8,000
Bitcoin is currently facing the strongest selling pressure since February with commentators and analysts thinking that there is a possibility that it might drop below the recent lows near $7,750. Bitcoin is currently facing the strongest selling pressure since February. Commentators and analysts think that there is a possibility that it might drop below the recent lows near $7,750. On October 16, BTC price fell below $8,000 in fresh choppy trading after several days of consolidation and slow grind. The top cryptocurrency by market value dropped from $8,326 to $8,086…
Bitcoin ‘Maybe Is a Partial Store of Value,’ Concedes Nouriel Roubini
Economist Nouriel Roubini — also known as “Dr. Doom” for his prediction of the 2007-2008 financial crisis and a notorious critic of cryptocurrencies — has conceded that Bitcoin (BTC) is “a partial store of value.” Roubini made the concession during a panel together with a host of high-profile crypto industry figures such as Brock Pierce, Bobby Lee and Tone Vays — during the CC Forum 2019 conference in London on Oct. 16. “Maybe Bitcoin is a partial store of value” As Tone Vays suggested in a tweet on Oct. 17,…
Binance CEO Confused by BNB Price Decline Despite ‘Very Productive’ Q3
Changpeng Zhao, CEO and founder of major cryptocurrency exchange Binance, said that the reasons why Binance Coin (BNB) dropped over 50% from its all-time high in June do not make much sense. “Markets often confuse people” Zhao explained that new services such as margin trading, an increased number of fiat onramps, peer-to-peer (P2P) trading, and futures trading have made the last quarter “very productive” with many significant projects coming to fruition. Thus, the CEO isn’t sure why BNB price has slumped over the past few months, mentioning the drop in…
Dubai Property Giant Emaar to Launch Blockchain-Based Rewards and Loyalty Ecosystem
About Richard Kastelein Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News…