A report published by Securities Daily explained how China’s publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions. The report highlighted that Yuanguang Software, an enterprise software provider, have increased their related research spending by around $24.3 million since 2016. Other companies, such as Xinchen Technology, have actively spent funds…
Day: October 20, 2020
Bitcoin Shoots Towards $12,000 as Capital Flows Back Into BTC
Bitcoin bulls are back after weeks of consolidation. The leading cryptocurrency thrust higher towards $12,000 on Tuesday morning. The coin now trades just shy of that crucial price resistance at $11,970. The cryptocurrency is expected to move higher in the days ahead as macro trends favor Bitcoin bulls. Bitcoin’s rally comes as altcoins have suffered a retracement, with most dropping a few percent across the board as a weird market dynamic emerges where altcoins seriously underperform BTC. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin…
Bitcoin price nears final hurdle at $12K before bull market euphoria
The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200. This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following in Bitcoin’s footsteps as altcoins are selling off heavily. Is the attention shifting back to Bitcoin? The weekly…
Kyrgyzstan’s acting president claims blockchain can ensure fair elections
Kyrgyzstan’s acting President and Prime Minister Sadyr Japarov has proposed introducing a blockchain-based system to ensure fair elections in the near future and restore public faith in the democratic process. On Oct. 20, Japarov reportedly told Al-Jazeera television channel reporters that: “We have had three revolutions because of unfair elections. If this continues, the unrest and the revolutions will continue. From now on, everything will be fair. I consulted with the Central Election Commission and offered them to introduce the blockchain technology. This system can be implemented in 3–6 months.” …