Global central bank digital currencies, or CBDCs, do not require the use of blockchain technology, according to executives at major European central banks. Thomas Moser, an alternate member of the governing board at Swiss central bank, and Deutsche Bundesbank’s Martin Diehl discussed the state of CBDCs at the European Blockchain Convention Virtual 2020 conference on Sept. 21. During the online panel discussion, both Diehl and Moser seemed to agree that global CBDC projects like China’s digital yuan do not need blockchain, citing a number of reasons. Moser said that the primary…
Month: September 2020
Bitcoin’s Weekly Candle Just Closed—And We’re In the “Middle of Nowhere”
Just an hour ago, Bitcoin’s weekly candle closed after an eventual week in which the leading cryptocurrency surged from lows near $10,000 to a local high at $11,150. The coin now trades at $10,950 as of this article’s writing, slightly above the ~$10,850 weekly close. The cryptocurrency, while above the pivotal $10,000 technical and psychological support level, is purportedly still in the middle of nowhere on a macro time frame. Bitcoin will need to move above local range highs or lows to confirm a trend. Related Reading: Ethereum Transaction Fees…
Blockchain-secured land entices real estate investors
In the “real” world, real estate has historically been seen as a viable investment. Individuals and corporations usually purchase land and property either for development or to sell at a higher price in the future. With the world becoming increasingly digitized, it appears that the trend of ascribing significant value to land and property has been spreading to the virtual scene. At the intersection of emerging tech like virtual reality and blockchain, developers, investors and hobbyists alike are creating a vibrant virtual real estate market. While VR provides the tools…
Will the CME Bitcoin futures gap buyers at $9,600 be left in tears?
The recent week has been relatively dull on the price movements of Bitcoin (BTC), as a slow upward trend was established after Bitcoin’s price found a footing at above $10,000. This rally then continued toward $11,000 on Sep. 18 but was pushed back by some short-term resistance levels. The previous week has been focused solely around Uniswap (UNI) and the airdrop of its token, combined with several listings on high-end exchanges. At the same time, let’s take a look at the price of Bitcoin and its charts to gauge where…
Stamping out corruption with blockchain tech
Some of the main functions of government institutions include redistribution of resources and maintaining official records. These are precisely the domains where blockchain technology — with its focus on facilitating secure, traceable transactions and maintaining immutable records to build trust — is well-positioned to make a strong impact. A recent report by Denmark’s Ministry of Foreign Affairs is the latest to highlight blockchain technology’s potential to serve as a powerful tool in the fight against government corruption. This proposition, however, is only the latest in a long string of policy…
This Level Holds the Key to Bitcoin Soon Retesting the Critical $12k Level
Bitcoin faced a strong rejection at the pivotal $12,000 level after rallying to that resistance earlier this month. After failing to hold above $12,000, the coin plunged by just over $2,000 in the days that followed. At the lows, BTC traded for $9,800 — $2,200 below the local highs and $2,700 below the year-to-date highs at $12,500. Bitcoin could soon make another run at $12,000, though. An analyst says that the leading cryptocurrency will be cleared to move toward that level if it achieves the following technical accomplishment. Related Reading: Here’s…
Here’s Why Bitcoin Traders Should Be Favoring Longs Right Now
Bitcoin has been stalling around the high-$10,000s over the past few days despite the surged earlier this week. The coin now trades at $10,850 as of this article’s writing, a few percent shy of the local high. Analysts are certain that investors should be favoring longs right now. Here’s why they think so. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 This Is Why Bitcoin Is Primed to Move Higher One cryptocurrency trader shared the chart below, noting that he thinks sellers (short position holders) may be…
Facebook-backed Libra welcomes Blockchain Capital as new member
The Facebook-initiated Libra blockchain project continues to grow as its governing body has added a new major industry partner. Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official Sept. 18 announcement. Alongside the other 26 association participants, Blockchain Capital will now be working to create a “more equitable payment system” with Libra. Bart Stephens, co-founder and managing partner at Blockchain Capital, said, “Leveraging blockchain technology to improve financial access and promote innovation has been at the core…
Binance USD is coming to Dapper Labs’ Flow blockchain
The U.S. dollar stablecoin of top crypto exchange Binance, BUSD, has become the latest stable token to announce it will launch on Dapper Labs’ Flow blockchain. The news comes just days after the platform added the rival USD Coin (USDC) stablecoin. Dapper Labs, the team behind pioneering non-fungible token (NFT)-powered games CryptoKitties and NBA TopShot, began working on Flow to address the scaling issues with Ethereum (ETH) that CryptoKitties starkly exposed after launching in late 2017. The new partnership will allow developers building on Flow to permissionlessly integrate BUSD into…
Bitcoin Birch says no retail crypto-wide bull run likely for rest of 2020
Crypto prices may still be weighed down by a difficult global economic atmosphere, according to Joel Birch, co-founder of automated crypto investing platform Stacked. “I don’t necessarily think that 2020 is going to be the year of some type of major retail bull run, largely due to the fact that the global economy still lingers over this industry, just like other financial markets,” the personality, also known as “Bitcoin Birch” on Twitter, told Cointelegraph in an interview. Birch, however, said he maintains a fairly positive slant in terms of upward…