Day: October 5, 2020

London Transport Regulator Bans Ola over ‘Public Safety’ Shortcomings

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Ola has three weeks to continue operating and file for an appeal, whereby after this period is over it will be completely banned in London. London public transport authority refused to grant India’s ride-hailing Ola a new operator’s license after concluding it is not “fit and proper” to hold one. The Indian based app that is backed by Japanese tech giant SoftBank is said to have allowed over 1000 trips with unlicensed vehicles and drivers, which directly endangered the passengers. “Our duty as a regulator is to ensure passenger safety.…

70% Stock Market Plunge Could Be Brewing: Analyst

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Long-term investors could be in for a bumpier ride than anticipated as the stock market’s previous problems have been amplified. The Fed’s intervention only served as a short-term bridge that inflated the asset bubble further. Analysts are cautioning of irrational investor sentiment ahead of a stock market meltdown. With Donald Trump’s health still a big question mark among investors, many wonder if we’ll close out the year with another big stock market crash. Volatility is all-but-certain in the near-term amid Covid-19 and the presidential elections. Market bulls are using this…

Cardano DeFi Development is in Full Swing

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The market dip has hit DeFi tokens particularly hard. @cryptopigmedia noted that the biggest loser to date is Curve Finance, whose CRV token has dropped 93% since its peak. “DeFi darling” Yearn Finance hasn’t faired much better, with the YFI token losing 61% from its $44,183 high. Defi Death Mission pic.twitter.com/UvGP8OcLqu — Cryptopig (@cryptopigmedia) October 4, 2020 Despite that, and the subsequent fall in yields, Nicolás Arqueros, CTO at EMURGO, believes this is a temporary setback. Drawing on the example of the tech bubble at the turn of the century,…

BTFS Mainnet Adopted as TRON Node Storage Solution  

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As a content-addressable, peer-to-peer storage mechanism, BTFS aims to overcome some of the major limitations of centralized file transfer protocols, like performance bottlenecks, low tolerance, and increased running costs. BitTorrent, the software company behind the massively popular BitTorrent file-sharing protocol, has just announced that the BitTorrent BTFS mainnet will serve as the primary storage solution for nodes running on the TRON network — one of the largest decentralized content sharing ecosystems and decentralized finance (DeFi) platforms.  The BitTorrent file system, or BTFS for short, is a decentralized protocol and next-gen storage solution that…

Bitcoin pioneer predicts $1T BTC market cap by 2022 or ‘sooner’

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Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative” and those levels should hit in less than two years. That was according to Blockstream CEO Adam Back, who delivered a fresh bullish BTC price outlook on Oct. 5. Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor ARK, who in September forecast a Bitcoin market cap of $1–5 trillion by 2030 at the latest. ARK is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable…

Alex Tapscott – This Is Money in 2030

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In the year 2030, if we do this right, money, the foundation of our economy and civilization will be unrecognizable. As a society we have grown so accustomed to the status quo of today’s money – fiat currencies issued and controlled by governments and central banks – that we forget money periodically goes through a great upheaval. We are on the brink of one of these moments. Money, one of humanity’s greatest and most enduring creations, is becoming digital.  The next decade of innovation will prove decisive as state powers,…

Vitalik Buterin Briefs Ethereum 2.0 Roadmap, Hints 100x Scalability

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Using rollups, Vitalik Buterin promises a massive 100x in transaction throughput for the Ethereum network. When combined with Sharding the output can multiple to 6400x. Last week, Ethereum 2.0 developers launched the Spadina testnet, however, failed to garner enough participation from node validators. Today, October 5, Ethereum co-founder Vitalik Buterin has briefed the developments and the updated roadmap for Ethereum 2.0 in a series of tweets. The existing Ethereum blockchain has been struggling to offer the scalability demand, especially after the latest DeFi craze. The crypto community has pinned its…

Calls for YFI Crash Grows as It Confirms Traditionally Bearish Setup

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At least two traders have confirmed their bearish bias for YFI, a token that represents the year’s most popular decentralized finance project, yearn.finance. The pseudonymous entities noted that YFI/USD’s recent price moves made a so-called Head and Shoulder Pattern. So it appears, the pair formed three peaks atop a single baseline-like support level. The middle peak was higher than the other two, which made it look like one big head with two lowered shoulders on both sides. H&S is a trend reversal pattern, according to Investopedia. YFI/USD confirms the H&S…

New bill would legally recognize digital signatures on a blockchain

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Republican Congressman David Schweikert (R-AZ) has referred a new bill to the House Committee on Energy and Commerce that, if passed, would recognize digital signatures on the blockchain as enforceable by law. This is particularly important for the enforceability of smart contracts, which automate transactions or other contractual obligations according to binding, pre-specified rules. Smart contract advocates have long used the adage “code is law,” and the new bill, if approved, could make this a statutory reality. According to public records, the bill was referred to the committee on Oct. 2. A summary of…

Prince Harry Is Due To Experience a Great American Tradition

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Prince Harry has been living the American dream since setting foot on US soil months ago. He now has a swanky new $14 million mansion and a deal with Netflix. What could possibly go wrong? Enter the IRS! If we believe the noises coming out of Camp Markle, it would be safe to say that Prince Harry is loving life in California. I mean, what’s not to love? Who needs the clean country air and 33 acres of rolling greenery in Berkshire, England, when you can have a security-fenced compound…