Day: January 6, 2020

IBM Blockchain App Promotes ‘Virtuous Cycle’ for Sustainable Coffee

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IBM is launching a new app that uses blockchain to allow consumers interested in sustainability to trace the coffee they buy along the supply chain. IBM said its new “Thank My Farmer” app will allow consumers to track their morning joe from the store where they buy it back to the farm where it was grown. Built in collaboration with traceability platform Farm Connect, which also uses IBM’s blockchain, the app is expected to launch sometime this year. It was unveiled at the Consumer Electronics Show in Las Vegas. The…

McAfee Catches Heat After Welshing On Famous Bitcoin Bet

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Many bold predictions about bitcoin’s price have been made over the years, but tech entrepreneur John McAfee’s 2017 claim that BTC would reach $1 million before the end of 2020 garnered more column inches than any other. This is because he promised to, ahem, consume his own manhood – on television no less – if it failed to transpire. The outspoken bitcoin evangelist has now provoked a backlash after pouring cold water on his prediction just days into the New Year. Also read: John McAfee Plans to Tokenize All 535…

Rivals Signature Bank and Prime Trust Team to Offer Instant Payments for Institutions

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Crypto banking competitors Prime Trust and Signature Bank have partnered in a bid to appeal to institutional clients. Signature announced Monday it would be linking its Signet payments platform to Prime Trust’s multi-asset settlement platform, creating a new service offering “real-time” settlements for digital asset trades. “Any Signature Bank commercial client participating on the Signet platform has the ability to make instantaneous payments in U.S. dollars, any time without transaction fees,” said Joseph DePaolo, Signature Bank president and CEO in a press release. “The relationship we have forged with Prime…

Rivals Signature Bank and Prime Trust Team up to Offer Instant Payments for Institutions

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Crypto banking competitors Prime Trust and Signature Bank have partnered in a bid to appeal to institutional clients. Signature announced Monday it would be linking its Signet payments platform to Prime Trust’s multi-asset settlement platform, creating a new service offering “real-time” settlements for digital asset trades. “Any Signature Bank commercial client participating on the Signet platform has the ability to make instantaneous payments in U.S. dollars, any time without transaction fees,” said Joseph DePaolo, Signature Bank president and CEO in a press release. “The relationship we have forged with Prime…

A Review of 3 Blockchain Lending Platforms

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The proliferation of crypto lending platforms is the latest crypto solution bridging the gap with the traditional financial industry. These platforms offer institutional and retail investors the opportunity to access banking services previously only available in the traditional financial sector. A typical crypto lending platform enables long-term crypto holders to put their tokens to good use by lending them for agreed-upon interest rates. Doing this beats the passive buy and hold investment strategy and users get access to interest rates that are higher than what the traditional banking sector offers.…

Unpopular Opinion: Bitcoin Could Still Fall Despite US-China Conflict

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Bitcoin is reportedly attracting haven demand as an escalating conflict between the US and Iran spooks investors. But that does not mean the cryptocurrency is going to register record gains in the coming days. The bitcoin-to-dollar exchange rate on Monday was trading above a psychological resistance level of $7,500. As of 0300 UTC, the pair established an intraday high of $7,580, its best since December 23. The move brought its total gains up by 10.58 percent, as measured from Friday’s lowest level. Bitcoin surges from $6,854 to $7,580 in Just…

Turkey’s Capital Markets Board Will Put Pressure on Bitcoin

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The issue of regulation for Bitcoin in Turkey is believed to be just a matter of time. Turkish regulators, the Capital Markets Board, want to take a deep look into what cryptocurrency exchanges are doing. The risks of regulating this industry are big, but the government will try to control everything. Despite the cash is as useful among criminals as cryptocurrencies, the regulators want to impose hardcore checks on crypto transactions taking place in Turkey. Considering the anonymous nature of many top cryptos, the new set of laws will have…

South Korean Presidential Committee Wants to Bring Crypto Into Mainstream Finance

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Financial institutions should be allowed to offer cryptocurrency products such as derivatives, according to a government advisory body in South Korea. In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed the government could move to bring cryptocurrencies into the mainstream of finance through a number of measures, including derivatives. With cryptocurrency trading surging worldwide, “it is no longer possible to stop crypto-asset trade,” said the PCFIR, as per a report by Business Korea on Monday. The committee said the government could follow the lead of…

South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance

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Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea. In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed that the government could move to bring cryptocurrencies into the mainstream of finance through a number of measures, including derivatives. With cryptocurrency trading surging worldwide, “it is no longer possible to stop crypto-asset trade,” said the PCFIR, as per a report by Business Korea on Monday. The commission said that the government could follow the…

IBM and Fair Trade Initiative Demo Blockchain-Based Coffee Tracking App

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On Jan. 6 at The Consumer Electronics Show in Las Vegas, IBM and Farmer Connect – an organization committed to increasing transparency and sustainability in agriculture supply chains – demoed a blockchain-based app that allows consumers to learn about the coffee beans they purchase. Founder and president of Farmer Connect, David Behrends, told Cointelegraph that the “Thank My Farmer” mobile app provides consumers with an interactive map to show the journey of their coffee by scanning a QR-code: “After scanning a QR-code, consumers are taken straight to a product page…