Day: February 24, 2020

Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat

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KYIV, UKRAINE — Central bank digital currencies (CBDCs) have been a hot topic in blockchain circles recently, but central banks are lukewarm about blockchains.  Representatives of a number of the world’s central banks discussed their CBDC projects last week in Kyiv, Ukraine. The one-day conference was arranged by the National Bank of Ukraine, or NBU, which itself is a CBDC pioneer, having run its own digital currency pilot in 2018.  The central bank wanted to test its ideas and conclusions with the banking community and stimulate the discussion, the head…

Assemblywoman Introduces Digital Asset and Blockchain Technology Act

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New Jersey just became one of the first states to propose legislation around crypto companies. According to a new bill, cryptocurrency businesses must now obtain a proper license to operate. Assemblywoman Yvonne Lopez proposed the Digital Asset and Blockchain Technology Act on Feb. 20. The legislation would establish new requirements for virtual currency businesses and create consumer-friendly protections by requiring crypto firms to disclose their legally registered names, Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) policies, and their licensing and legal history to the State of New Jersey’s Department of…

Bitcoin’s Potential to Benefit the African-American Community

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The issue of race when it comes to cryptocurrency is a sensitive one, and not without reason. The African-American community is largely born at an economic disadvantage, with a legacy financial system fueled by unethical practices like redlining, among many others. However, cryptocurrencies may give them the opportunity to eventually level the playing field. Jack Dorsey, CEO of Twitter, is no stranger to controversy himself. His platform currently hosts 330 million people around the world, and his individual followers currently number just over 4.3 million. On Sunday, he used that…

Bitcoin Just Plunged From $10k, But This Data Shows Bulls Are Still in Control

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Bitcoin climbed higher nicely above $9,800, but it failed near $10,000 against the US Dollar. BTC price is currently declining, but it is likely to find support near $9,640 and $9,500. Bitcoin price failed again to gain strength above the $10,000 resistance area against the US Dollar. It is down more than $250, but there are still many supports on the downside near $9,650. There is a major bullish trend line forming with support near $9,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

On EOS Blockchain, Vote Buying Is Business as Usual

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Buying votes is a big no-no in traditional democracies, but on the world’s eighth-largest blockchain it’s become an accepted way of doing business. A new service makes it easier for EOS block producers, the nodes elected by holders of the cryptocurrency to validate transactions on the network, to share their block rewards with those who voted for them. The service, known as Genpool, was introduced this month by GenerEOS, which itself is a block producer candidate.  Back when EOSIO, the software powering the $3.7 billion EOS chain, was just an…

Transphobic Rapper Boosie Badazz is Similar to Dwyane Wade’s Daughter

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Earlier this week, Lousiana rapper Boosie Badazz criticized Dwyane Wade for supporting his transgender daughter. Yesterday, he was banned from Planet Fitness, allegedly for his remarks. Boosie and Zaya Wade actually have a lot in common. Boosie Badazz went too far. Even Planet Fitness agrees. The Louisiana rapper went on an Instagram tirade on Tuesday, criticizing Dwyane Wade’s acceptance of his transgender daughter, Zaya. Today, he’s not allowed to work out. According to a Boosie Instagram post, the gym wouldn’t let him in because of his homophobic, transphobic stance. Warning:…

Ripple (XRP) Price Won’t Go Down Quietly: Key Supports To Watch

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Ripple climbed above $0.2800, but it failed to continue above $0.2860 against the US Dollar. XRP price is currently declining towards the key $0.2700 and $0.2650 support levels. Ripple price topped near the $0.2860 level and declined recently against the US dollar. The price is now trading below the $0.2800 level, but there are still many supports on the downside. There was a break below a key bullish trend line with support near $0.2760 on the hourly chart of the XRP/USD pair (data source from Kraken). The price is likely…

Japan the Next Country to Mint a Digital Currency?

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With finance ministers and central bank governors having recently discussed cryptocurrency regulations at the G-20 summit, Japan is taking notice at home. Leaders at the Bank of Japan (BOJ), Ministry of Finance (MOF), and Financial Services Agency (FSA) have held a number of meetings to determine whether the country should become next in line to adopt a government-sanctioned digital currency. The issues under discussion include how the Japanese government embracing a central bank digital currency (CBDC) would impact the world economy. Despite the rise of numerous crypto exchanges, the U.S.…

Ethereum Uptrend Is Intact For This Reason: More Upsides Likely

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Ethereum started a steady increase above the $260 and $265 resistance levels against the US Dollar. ETH price is currently retreating from $278, but it remains well supported. Ethereum is still struggling to climb above the $280 and $285 resistance levels against the US Dollar. The price traded as high as $278 and it is currently correcting lower. There is a crucial ascending channel forming with support near $266 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price is also correcting lower from well above the $9,800…

Shopify Joins Libra While Quitter Vodafone Advertises Bitcoin on Facebook

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Facebook’s coin project, Libra, continues to draw attention despite setbacks, including a shrinking pool of backers and a growing number of worried regulators. But now with JP Morgan seeing potential for the social network’s cryptocurrency and e-commerce giant Shopify joining the Libra Association, its chances might have improved. Although, assuring governments that Libra won’t undermine their monetary authority and convincing users of its utility remain key challenges. Also read: Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger Vodafone Posts Facebook Ad With Bitcoin in…