Day: September 16, 2020

Major Asian bank issues credit on SCB-backed blockchain

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The Asian Development Bank (ADB), headquartered in the Philippines, has settled its first letter of credit (LC) transaction using the Standard Chartered-backed Contour blockchain network. The trade was a part of ADB’s trade and supply chain program and involved Standard Chartered and the Bank for Investment and Development of Vietnam. ADB’s trade settlement also marked the first blockchain-based cross-border LC transaction between Vietnam and Thailand.  According to a Global Trade Review report, the trade involved a $50,000 plastics shipment sent from Thailand’s SCG Plastics Co Ltd to Vietnam’s Opec Plastics…

CB Insights Buys Blockdata to Build Out Blockchain Data Offering

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Netherlands-based Blockdata, which provides qualitative insights into the range of large enterprises using blockchain technology, has been acquired by data provider CB Insights. The financial terms of the deal were not disclosed. New York City’s CB Insights will be opening an office in Amsterdam, while Blockdata will remain a standalone product with its own team. Blockdata’s work will also be available to CB Insights clients, the companies said. The acquisition demonstrates that large firms are still interested in deploying distributed ledger technology (DLT) within their firewalls, and are looking for…

Apple Launches LumiHealth in Partnership with Singaporean Govt

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While the LumiHealth initiative is the first of Apple’s health involvement with a federal government, the company has already had some partnerships with businesses in this sphere. Apple Inc (NASDAQ: AAPL) has partnered with the government of Singapore to improve the health and well-being of Singaporeans through the LumiHealth initiative. As announced by Apple (AAPL), the LumiHealth program is available as an app on the Apple Watch, and its the culmination of a two-year process beginning with the government of Singapore asking international healthcare and technology companies to process ways…

Chainlink (LINK) Nosedives 10%: Here’s Why It Could Tumble Below $10

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Chainlink (LINK) is down 10% and it broke the key $11.30 support zone against the US Dollar. The recent breakdown suggests high chances of more losses below $10.00 and $9.50. Chainlink token price failed to clear the $13.50 resistance and declined steadily against the US dollar. The price is now trading below the key $11.30 support and the 100 simple moving average (4-hours). There was a break below a major contracting triangle with support near $11.80 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The pair…

US Company Accepts Bitcoin Payments for Luxury Planes, as $40M Gulfstream Jet Goes on Sale

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Aviatrade Inc., a New Jersey-based aircraft sales company, is now accepting bitcoin as a means of payment for its range of multi-million dollar luxury jets. Philip Rushton, president of Aviatrade, told news.Bitcoin.com that the first plane available for purchase via cryptocurrency is a six-year-old Gulfstream G650ER, which went on sale a couple of weeks ago. The private jet, Gulfstream’s existing flagship, is selling for $40 million. Billionaires Jeff Bezos and Elon Musk are some of the noteworthy owners of this plane model, reports note. Rushton revealed that cash-based sales for…

The Bahamas will launch a digital Central Bank ‘Sand Dollar’ in October

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The Bahamas is gunning to become the first country in the world to roll-out a state-backed virtual currency nationwide, and has announced it will launch a central bank-issued cryptocurrency during October. The assistant manager of eSolutions at the Central Bank of The Bahamas, Chaozhen Chen, told Bloomberg that the digital currency, dubbed ‘Sand Dollars’, is intended to drive greater financial inclusion among the remote islands within the archipelago nation. “A lot of residents in those more remote islands don’t have access to digital payment infrastructure or banking infrastructure. We really…

Ethereum Could Rally Sharply As Double Bottom Pattern Emerges

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Ethereum declined recently, but it stayed above the key $355 support against the US Dollar. ETH price is likely to accelerate higher as it seems like a double bottom pattern is forming near $355. Ethereum declined below the $370 support, but it stayed above the $355 support. The price holding the main $355 support, but it is below the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $370 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay…

Bakkt Bitcoin futures smashes daily volume record by 36%

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Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Bakkt daily Bitcoin futures volume: Skew Despite being touted as the likely catalyst…

Bitcoin Reaches Crucial Juncture: Here’s What Could Trigger A Sharp Decline

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Bitcoin price extended its rise above the $10,800 resistance against the US Dollar. However, BTC is struggling to clear the all-important $11,000 barrier and it could decline sharply. Bitcoin traded above the $10,700 and $10,800 resistance levels. The price is still trading well below the $11,000 barrier, but above the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $10,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either break the $11,000 barrier or decline sharply below…

Philippines SEC warns of ‘cloud mining’ Ponzi related to Bitcoin Vault

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The Philippines SEC has released an official warning about Bitcoin (BTC) “cloud mining” company Mining City, advising the public to steer clear of the scheme and others like it. Despite the official condemnation, the price of a related cryptocurrency is on the rise. The warning describes the company as an unlicensed entity in the country and said it was not functioning “in accordance with guidelines for virtual currency exchanges,” stating: “The aforementioned scheme used by Mining City clearly shows an indication of a possible Ponzi scheme in which new investor…