May 8, 2020

Vietnam’s HDBank Taps Blockchain Network to Streamline Bank Credit for Corporates

May 8, 2020 boss

HDBank has signed up to a blockchain network from Contour with the aim of bringing trade finance into the digital realm. The Vietnam-based bank is the latest financial institution to join Contour’s network with a view to streamlining the issuance of letters of credit with the use of a blockchain and smart contracts, local media reported on Tuesday. Contour is a blockchain trade platform built on R3’s Corda tech and designed to streamline transaction settlement processes. It rebranded from Voltron in late January 2020, naming R3’s Asia chief Carl Wegner…

EU Blockchain Spending Will See Temporary Drop Due to COVID-19

May 8, 2020 boss

Analysts have revised down their forecasts for European enterprise spending on blockchain development in the next few years due to the economic aftershocks of the COVID-19 pandemic. In a report published on May 5, United States-based market research firm International Data Corporation (IDC) said it expects the slowdown to be temporary and unevenly distributed across sectors. Prior to the crisis, IDC had forecast that European blockchain spending would be $1.4 billion in 2020, with strong growth of 58% compound annual growth rate (CAGR) to 2023. Carla La Croce, co-lead of…

New Global Campaign Urges Credit Card Companies to Block Porn Sites

May 8, 2020 boss

According to a BBC report on May 8, a group of international campaigners and campaign groups has written to ten major credit card companies calling for the immediate suspension of payments to pornographic websites. If successful, this campaign may result in a new wave of people flocking to Bitcoin and other cryptocurrencies in the search for alternative payment methods. All porn bad? Not according to PornHub The letter, whose signatories represent campaigners from every continent except Antarctica, alleges that porn sites “eroticize sexual violence, incest, and racism” and that it…

Internal Struggle at Bitcoin Mining Giant Bitmain Escalates to Physical Confrontation

May 8, 2020 boss

After Micree Ketuan Zhan, the exiled co-founder of Bitmain, moved to reinstate his position after another partial legal victory over his former employer, tensions reportedly escalated into a physical brawl. According to a source close to Zhan, who was ousted by his rival co-founder Wu Jihan last October, the former executive was recently granted the right to recover his status as the legal representative of Beijing Bitmain Technology by the Beijing Haidian District Justice Bureau. On Friday morning local time, as Zhan attended the bureau to collect his new registration…

New Bull Market Signal? Bitcoin Bearwhale Vanishes as BTC Hits $10K

May 8, 2020 boss

The biggest whale on Bitfinex known to the Bitcoin (BTC) community as Joe007 vanished, as the price of the top-ranked cryptocurrency by market capitalization hit $10,000. Joe007 left with a farewell letter, describing his time on Twitter as an “experiment.” He also removed himself from the Bitfinex Leaderboard, no longer showing his trades and the profitability of his positions publicly. His departure came after a short contract he placed when Bitcoin was hovering at $6,800 hit $20 million in unrealized loss, resulting in a $15 million loss on paper for…

Bitcoin Prints Perfect Sell Setup Last Seen at February’s $10k Top

May 8, 2020 boss

After weeks of bullish price action, Bitcoin finally topped $10,000 today, rallying as high as $10,100 on the back of an influx of buying pressure. Many say that this recent move sets the stage for even greater growth, but a trader recently argued that BTC printed a “perfected” sell setup. The setup was the exact same one seen at 2020’s highs of $10,500 and indicates that downside is currently imminent. Top Indicator Just Printed a “Perfect” Bitcoin According to one top trader, Bitcoin’s two-day chart just printed a Tom Demark…

‘Perfect Wedge’ Makes $1M Bitcoin More Likely Than Ever — Raoul Pal

May 8, 2020 boss

The chances that Bitcoin (BTC) will hit $40,000 and even $1 million have “risen dramatically” after the top cryptocurrency hit $10,000. That was the conclusion from Global Macro Investor CEO, Raoul Pal, who on May 8 released fresh charts which he argued present an easy case for a “vastly higher” Bitcoin price. Pal: BTC price potential now $1 million “Whatever plays out, after a KEY technical break like today, the probability of vastly higher prices has risen dramatically,” he summarized on Twitter. Pal, who last month released a seminal report…