June 5, 2020

Alibaba Group and COFCO Group Signed a Memorandum of Cooperation through Blockchain Technology

June 5, 2020 boss

According to XINHUANET, on June 5, Alibaba Group and COFCO Group, China’s largest food processing company, signed a memorandum of cooperation through blockchain technology to jointly open the prelude to the digital transformation of China’s exhibition industry.  After China’s President Xi Jinping’s speech on blockchain technology at the study session of the Politburo held On Oct. 25, 2019, many Chinese giants of the industry began accelerating their development into blockchain and the emergent technologies of the fourth industrial revolution. The blockchain-based memorandum between Alibaba and COFCO is one of the recent examples of…

Reddit’s Biggest Blockchain Advocate Just Resigned To Fight Racism

June 5, 2020 boss

Alexis Ohanian, a millionaire tech entreprenuer and co-founder of online social platform Reddit, recently publicized plans for his personal fight against racism. These include his desire to see a member of the black community replace him at his current board position. “I’ve resigned as a member of the reddit board, I have urged them to fill my seat with a black candidate,” Ohanian said in a June 5 tweet. The United States shows unrest Over the past week and a half, cities across the U.S. have seen protests, with some cities…

The Dow Is Euphoric as Trump Boasts That the Economy’s a ‘Rocket Ship’

June 5, 2020 boss

The Dow Jones extended its rally with a titanic surge to close the week. Unemployment numbers were vastly better than expected, catching a cautious Wall Street off guard. The stock market’s most visible cheerleader, Donald Trump, is back, and he says the U.S. economy is “a rocket ship.” The Dow Jones exploded 3.25% higher on Friday, as an extraordinary jobs report caught Wall Street off guard. The unemployment rate narrowed, shocking an already optimistic Dow, though many economists are questioning Trump’s boast that the U.S. economy is really the “rocket…

Recursive SNARKs Could Help Bitcoin Scale

June 5, 2020 boss

In a Cointelegraph interview, Charles Hoskinson said that in his opinion, recursive snarks could be a solution for the Bitcoin’s (BTC) scalability problems. Intellectual dishonesty Hoskinson believes that there was a lot of intellectual dishonesty in the block size debate, which eventually led to the creation of Bitcoin Cash (BCH). Discussing the main argument of the Bitcoin core supporters that the increase in block size would have led to the greater centralization of the network, Hoskinson said: “Just an insane argument. And this is the intellectual dishonesty of that argument.…

Golem Publishes Proof of Device Concept For Identity Authentication

June 5, 2020 boss

Decentralized CPU-sharing network, Golem, published its research into a Proof of Device, PoD, mechanism for user authentication, June 5. While still a proof of concept, the research outlines a method by which users can automatically validate their hardware, proving identity in an anonymous yet trusted manner. Necessity is the mother of invention The research stems from Golem’s need to secure its own permissionless, anonymous network against Sybil attacks. It considered whether something could be implemented using Intel’s Software Guard Extensions, or SGX, which are instructions built into modern CPUs. When…

Gold Prices Are Crashing – Here’s Why Long-Term Investors Will Buy Anyway

June 5, 2020 boss

Not everything is rallying on the job market’s surprise good news. Gold is diving and now trades under $1,700. Longer-term, lower interest rates and easing measures will likely lead to a massive rally for gold. Happy days are here again! At least they are in the stock market. Thanks to a surprise increase of 2.5 million jobs, against expectations of further millions hitting the unemployment line, stocks are on a tear. The S&P 500 is close to breakeven for the year after its massive plunge back in March. Of course,…

Why $8.1K Will Be a Key Level for Bitcoin Price for the Next 6 Months

June 5, 2020 boss

Bitcoin (BTC) is trading at $9,687 representing a 0.87% loss in value in the last 24 hours and 1 % for today’s session Looking at performance relative to its peers, Ether (ETH) and XRP are both underperforming versus Bitcoin at the moment. Ether, the second-biggest cryptocurrency by market capitalization, being down 1.29% and XRP 1.22% in the last 24 hours. But both have outperformed Bitcoin this week with ETH up a notable 9% over the last seven days. Bitcoin dominance remains at 65% and continues to lose ground following a…

Mexico’s Blockchain Sector Grows 90% in 2 Years Despite COVID-19

June 5, 2020 boss

Mexico’s blockchain and financial technology, or fintech, industries have nearly doubled in size over just two years, according to data provided to Cointelegraph by blockchain-focused law firm, Legal Paradox. The firm estimates that Mexico’s fintech and blockchain sector has grown by 90% since 2018, describing the country as establishing a “benchmark” for the industry worldwide. Despite the global economic slowdown amid the coronavirus pandemic, Legal Paradox notes an increase in local adoption of distributed ledger technology, or DLT, as large traditional firms turn to blockchain solutions in a bid to…