Day: July 23, 2020

World Will Not Adopt a Bitcoin or Gold Standard, Says Peter Brandt

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Bitcoin (BTC) and cryptocurrencies will not get their big break thanks to the problems with the fiat economy, says veteran trader Peter Brandt. In a series of tweets on July 22, the popular commentator forecast that in future, the world will resort to so-called special drawing rights (SDRs) based on multiple fiat currencies. Bye bye gold standard Similarly, a return to the gold standard will not occur, Brandt claimed, while the SDR setup would likewise not include Bitcoin or altcoins. SDRs were created by the International Monetary Fund (IMF) in…

Bitcoin (BTC) Price Breaks Out of Consolidation to Trade Above $9,500

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Bitcoin (BTC) might have triggered the long awaited rally ahead of the $2 trillion Fed stimulus that is expected soon. After a three month silence in the Bitcoin (BTC) price movement, which had some worried of its undisputed volatility, the mother crypto coin has finally broken out of its multi month consolidation. The slight volatility has seen the asset breakout and rejuvenate hopes of trading above $10k soon. In the past 24 hours, the instrument gained around $178 reciprocating to a change of approximately 2%. With the asset’s market supply halved…

Bitcoin is About to Make a Move Towards $10K; Analyst Explains Why

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Bitcoin’s recent jump above $9,500 has increased its probability of testing $10,000 in the coming sessions, according to an analyst. He also noted that traders would first target $9,785 as their interim resistance level. Bitcoin leaped over the $9,500-mark on Wednesday and it now eyes extended its bullish momentum into the six-figure region. The benchmark cryptocurrency rose 1.89 percent to hit $9,567.77 on Coinbase crypto exchange. The gains came as a part of an upside rally that started this Tuesday. On the day, Bitcoin broke above $9,300 after consolidating sideways…

Bitcoin and Ether Market Update July 23, 2020

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Total crypto market cap added $11.6 billion to its value since Monday morning and now stands at $284.2 billion. Top ten coins are all in green for the last 24 hours with ether (ETH) and ChainLink (LINK) leading the pack with 7.7 and 7 percent of increase respectively. At the time of writing bitcoin (BTC) is trading at $9,500 on the Bitstamp daily chart, while ether (ETH) moved to $262 and Ripple’s XRP climbed up to $0.202. BTC/USD Bitcoin closed the trading session on Sunday, July 19 with a third…

Eftpos Australia Launches DLT Micropayments Pilot With Hedera

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Eftpos Australia, the country’s leading point-of-sale technology provider, has announced a partnership with distributed ledger technology (DLT) firm Hedera to conduct a micropayments proof-of-concept using an Australian dollar stablecoin. Eftpos chief executive Stephen Benton described the collaboration with Hedera as part of a broader digital payments innovation strategy intended to modernize Australia’s payment sector. The pilot aims to demonstrate how micropayments can be used to offer innovative payment solutions, such as “pay per page content or streaming services on a pay-per-second basis.” The proof-of-concept will be powered by an Australian…

China’s Central Bank Publishes Rules for Blockchain-Based Financial Applications

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The People’s Bank of China (PBoC) has published a set of evaluation rules for blockchain-based finance applications. The published rules aim to provide regulatory oversight using three basic standards bordering on technical, performance, and security. The regulations will affect banks, insurance companies, brokerages, and other financial institutions that have or plan to integrity blockchain.  The Chinese central bank’s guidelines will promote the adoption of unified standards for product design, software development, privacy protection rules, and system evaluation of financial applications involving blockchain technology. The People’s Bank of China has often…

NBA’s Spencer Dinwiddie Sells Only 9 of 90 Tokenized Contract Shares

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Brooklyn Nets star Spencer Dinwiddie managed to sell 10% of his three-year tokenized contract shares to 8 different investors as of Wednesday and raised $1.35 million. NBA’s Brooklyn Nets star Spencer Dinwiddie continues to make strides in his crypto investment business. As of yesterday, the revered and legendary Brooklyn Nets’ point guard Dinwiddie, through his company, had managed to sell 10% of his three-year tokenized contract shares to eight different investors. Dinwiddie, 27 years of age, refers to himself as a tech guy with a jumper. He has walked through…

Alibaba Payments Subsidiary Launches AntChain Blockchain Solution

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The payments subsidiary of the Chinese e-commerce giant Alibaba, Ant Group, today launched a new blockchain solution dubbed AntChain.  According to a report published on South China Morning Post, AntChain is built on top of Ant Group’s blockchain technology combining artificial intelligence, Internet of Things (IoT), secure computation and other technologies. As part of the AntChain initiative, the Ant Group has built a new workstation similar in size to a laptop. It comes with built-in software and hardware accelerator meant to smoothen the functioning of blockchain applications. AntChain’s workstation can…