Day: August 11, 2020

A City in South Korea is Expanding Its Blockchain Payment Program

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A major satellite city in South Korea, Seongnam, is preparing to expand its existing blockchain-powered payment program by issuing new digital gift certificates. According to Kyunghyang Shinmun, the city’s Blockchain infrastructure will rely on a mobile app named Chak app. This app will be built by the Korea Minting and Security Printing Corporation, or KOMSCO. Seongnam’s project hopes to make it easier for elderly and middle-aged residents to utilize the city’s existing Blockchain technology. They also hope to strengthen the use of contactless payments during the COVID-19 pandemic. Local media…

S&P 500 Aims At All-Time High As The Dow Pulls Gain Over 357 Points

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Following Trump’s newly signed orders, Dow climbed over 350 points while S&P 500 nears an all-time high with its recent gain. On Monday, the Dow Jones (INDEXDJX: .DJI) and S&P 500 (INDEXSP: .INX) jumped, each with a significant gain. The Dow gained 1.3%, an increase of 357.96 points to 27,791.44. Regarded as a pacesetter, Caterpillar Inc. (NYSE: CAT), was among the best-performing stocks in the Dow, as it jumped over 5%. In addition, Boeing Company (NYSE: BA) and Dow Inc. (NYSE: DOW) equally added more than 5% each. JPMorgan Chase…

CryptX Wallet Now Available | Coinspeaker

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Place/Date: – August 11th, 2020 at 7:24 pm UTC · 2 min read Contact: CryptX, Source: CryptX CryptX announces the public availability of its flagship product. The CryptX operational wallet provides enterprise custodial services with institutional-grade security for nearly 100 different cryptocurrencies including ERC20 tokens. It is the simplest yet most secure way to accept, store, and manage diverse crypto assets. Private keys are kept in Swiss bank-grade Hardware Security Modules (HSM) developed, manufactured, programmed, and stored in Switzerland. CryptX also includes a feature-rich API for customizing and fully automating routine…

Bitcoin Price Keeps Rejecting $12K — Here’s What Can Happen to BTC

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The price of Bitcoin (BTC) rejected the $12,000 resistance level for the second time in the past 10 days. Traders are generally optimistic about the short-term trend of BTC, following its extended consolidation below a critical resistance level. When an asset stays relatively stable near a major resistance area, it typically suggests a bullish continuation is likely. It shows that sellers do not have enough pressure to push BTC down to a pivotal price point. Many traders seemingly anticipate the price of Bitcoin to remain in the $10,500–$12,000 range. If…

Billion Dollar Public Company Microstrategy Moves $250 Million Into BTC, Says Bitcoin ‘Superior to Cash’

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Nasdaq-listed company Microstrategy Inc. is bullish on bitcoin, saying that it is a “dependable store of value” that is “superior to cash.” The billion-dollar company has purchased $250 million in bitcoin, adopting the cryptocurrency as its primary treasury reserve. Public Company Now Holds Bitcoin as Cash Reserve Microstrategy Inc. (NASDAQ: MSTR), which describes itself as “the largest independent publicly-traded business intelligence company,” rocked the bitcoin community on Tuesday when it announced the adoption of bitcoin as its primary treasury reserve. The company’s market cap is currently about $1.33 billion. Microstrategy…

A New DeFi Exchange Says It Has Solved An Industry-Wide Problem

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Decentralized exchange aggregator 1inch.exchange has launched its own DEX. As part of their efforts, they promised to fix two major issues with this type of exchange — front-running and impermanent loss. Announced on Tuesday, the Mooniswap exchange is an automated money market, or AMM, similar to Uniswap or Balancer. It has adopted a distinctly different approach from Bancor V2, which uses oracles to stay updated on market prices. Impermanent loss occurs when an asset’s price on an AMM slips compared to the going market rate on other exchanges. This intended…

Blockchain Bites: MicroStrategy’s $250M Bitcoin Bet, India Booms, Banks Open to Custody

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MicroStrategy bets $250 million on bitcoin’s safe haven thesis. Indian crypto is booming. And David Marcus has a new role at Facebook. Top shelf Banks buying“Major U.S. banks might be willing to support cryptocurrency services – with just a bit of additional guidance from the Office of the Comptroller of the Currency (OCC), their federal regulator,” says CoinDesk’s regulatory reporter Nik De. This follows the OCC issuing an open letter in July saying nationally chartered banks could custody crypto. In public responses, 12 banks, including U.S. Bank and PNC, have…

Blockchain Bites: MicroStrategy’s $250M Bitcoin Bet, India Booms, Banks Open to Custody

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MicroStrategy bets $250 million on bitcoin’s safe haven thesis. Indian crypto is booming. And David Marcus has a new role at Facebook. Top shelf Banks buying“Major U.S. banks might be willing to support cryptocurrency services – with just a bit of additional guidance from the Office of the Comptroller of the Currency (OCC), their federal regulator,” says CoinDesk’s regulatory reporter Nik De. This follows the OCC issuing an open letter in July saying nationally chartered banks could custody crypto. In public responses, 12 banks, including U.S. Bank and PNC, have…

Bitcoin is Enough, Satoshi Should Stay Out

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In a Cointelegraph interview, Adam Back provided additional clarity on his perceived Bitcoin (BTC) maximalism. Blockstream’s CEO believes that Bitcoin is enough and there is no need for a multitude of derivative projects. Back said, “I think it’s like TCP/IP the internet exists. We don’t need 5800 TCP/IP copies trying to monetize and profiteer off pumpanomics or such. It detracts from value (I gather there are about 5,800 altcoins as of today)”. He noted that innovators should focus on Bitcoin instead: “It’s modular, you can build anything you want using…

Think Tank Releases Report on the Blockchain-Based Genetic Data Network

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Think Tank, dGen, releases a new report entitled, “AI, Privacy, and Genomics: The Next Era of Drug Design”. It tackles the issue of privacy and access to genetic data for companies using AI to speed up and improve drug design. Where the average drug today takes 10-12 years and cost $2 billion, Covid-19 forced this timeline to 12-18 months. Whether or not the cure will be delivered in the next six months remains unclear. The bottom line is that more companies need access to more genetic data. We spoke with…