Day: November 18, 2019

Crypto Assets Are Legal Equivalent of Property: Report

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U.K.: Crypto-assets are legally equivalent to property, clearing the way for businesses to use digital currencies backed by blockchain technology, a high-powered group of legal experts chaired by a senior member of the judiciary reported today. The panel urged commercial lawyers to prepare for the disruptive impact of digital coins and associated technologies on the law, the legal system, and legal profession before others “steal a march” on them. UK Jurisdiction Taskforce The statement, reported by The Times and published by the UK Jurisdiction Taskforce of the LawTech Delivery Panel, concluded…

China’s Zhejiang Processes $6M via DLT Medical Billing Platform

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China’s Zhejiang province has processed nearly $6 million via a blockchain medical billing platform using Ant Financial’s blockchain technology, Chinese publication QNSB reports on Nov. 18. Successfully piloted in 2018, the blockchain-enabled platform allows citizens to make doctor’s appointments, get prescriptions as well as pay, record and store their medical bills online. At a local blockchain event on Nov. 18, the Zhejiang Provincial Department of Finance announced that the platform had 480 medical institutions across the province as of Oct. 28. The officials said that the platform processed 41.7 billion…

German Airline Company Hahn Air Issues Tickets on Blockchain

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German airline Hahn Air claims to be the first airline company to issue tickets on a blockchain, the firm announced in a press release on Nov. 18. The ticket sale using blockchain technology was made possible through Hahn Air’s collaboration with a decentralized platform for the travel industry, Winding Tree. Frederick Nowotny, head of sales engineering at Hahn Air, Maksim Izmaylov, the founder of Winding Tree, and Davide Montali, CIO at Winding Tree, became the first passengers to use blockchain-booked tickets. Commenting on the product, Nowotny said the goal of…

Bitcoin Price Key Pattern Is Suggesting 68% Chance of Bullish Reversal

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Bitcoin (BTC) closed the week down almost 6% at $8,500. Altcoins performed slightly better than BTC but collectively also closed lower for the week, down 3.5% against the dollar. Bitcoin dominance remains relatively flat and continues to hold 68% of the total share of the cryptocurrency market. Monday has brought lower prices on open with Bitcoin down around 0.75% and the rest of the market following suit.   After a slow start to the week, let’s take a closer look at the price action to determine if there is any change…

Ethereum Price Technical Analysis (Nov. 18): Further Correction Is Probable

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When looking at the chart below we can see that Ethereum (ETH)trade is currently trading at $184. It can also be observed that the second-largest cryptocurrency’s price is trading within the channel with the upper limit at around $185 acting as resistance and the lower limit of the channel at around $181 is acting as support. This is also confirmed by a formation of an evening star pattern, which is a bearish reversal pattern. Dow Theory The virtual currency is currently appearing in the the accumulation phase. This is the…

Zero-Knowledge Proofs, Explained | Cointelegraph

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1. A zero-knowledge proof is a digital protocol that allows for data to be shared between two parties without the use of a password or any other information associated with the transaction. In its most basic sense, a zero-knowledge proof (also commonly referred to as ZKP) can be thought of as a protocol through which a digital authentication process can be facilitated without the use of any passwords or other sensitive data. As a result of this, no information, either from the sender’s or receiver’s end, can be compromised in…

US Presidential Candidate Andrew Yang Presents his Crypto Regulation Approach

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In one of his several pro-Bitcoin letters, the Democratic Party’s presidential candidate Andrew Yang carefully laid out the groundwork on how technology should be regulated, including of course crypto. Reflecting on the negative impacts of technology on the nation, the philanthropist and entrepreneur Yang touched on how much technology has affected the minds of the young and how much worse it is now to regulate the space. Yang further pinpointed the struggle through which government agencies are going just to bring the tech space under control. Highlighting Facebook’s boss Mark…

Public Statement Aims to Define Legal Status of Crypto Assets in the UK

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The United Kingdom Jurisdiction Taskforce of the Lawtech Delivery Panel published a statement concerning the status of cryptocurrencies, distributed ledger technology (DLT) and smart contracts under English and Welsh private law. U.K. entrepreneur network Tech Nation announced the paper’s publication on Nov. 18. The document attempts to address the legal uncertainties of cryptocurrency and recognizes crypto assets as tradeable property and smart contracts as enforceable agreements under local law. The importance of regulating blockchain Lawtech Delivery Panel director Jenifer Swallow noted that the worldwide smart contract market is expected to…