Day: October 26, 2020

Facebook Cloud Games on Desktop and Android, iOS Ignored

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Some people think Facebook intentionally ignored Apple as revenge for a previous comment made by the company concerning its privacy. Facebook Inc (NASDAQ: FB) has announced the introduction of cloud games compatible with its desktop website and Android but ignores iOS for what is speculated to be a controversial feud. This means users can stream directly from the Facebook data center without going through the complex steps of downloading before accessing them. Users can now play free games while online without having to leave the network. This decision comes soon…

Central bank digital currencies have the power to upend global finance

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An astonishing 80% of central banks are engaging in work around central bank digital currencies, from research to experimentation and pilot programs. A recent Bank for International Settlements, or BIS, chart demonstrates the growing interest in CBDCs by central banks, as reflected in speeches and reports as well as people’s Google search interests over time. One country, in particular, to watch in this respect is China, which is emerging as one of the leaders in the shift to CBDCs. The People’s Bank of China introduced its CBDC in pilot form…

Don’t expect another 2017-style altseason as Ethereum continues slump vs. Bitcoin

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While Bitcoin (BTC) is showing strength through new higher highs and making a new yearly high, Ethereum’s Ether (ETH) shows weakness, particularly the ETH/BTC pair. ETH weakness is also a clear indication that most altcoins are not showing strength either since they tend to reflect Ether’s performance.  The 0.03 sats level is a crucial barrier to hold ETH/BTC 1-day chart. Source: TradingView The daily chart of ETH/BTC shows a clear rejection at the 0.0325 sats level, through which a renewed test of the 0.03 sats area is occurring. A very…

Seven firms in Japan deploy blockchain to digitize trade paperwork

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According to an Oct. 26 report by Japanese news agency The Nikkei, seven Japanese companies are preparing to invest in a new trade data management system. Reportedly developed by NTT Data, the platform uses blockchain technology to prevent malicious third-parties from tampering with recorded data. The platform is designed to manage receipts for exporting and importing companies and will also manage letters of credit issued by banks. The new service will also help to process other related documents handled by insurance and logistics companies. As reported, the participating companies include…

Alibaba Founder Jack Ma Highlights Digital Currencies Are Future

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Jack Ma highlighted that the world is spinning towards an inclusive financial system that is more focused on marginalized people. Jack Ma, co-founder and former executive chairman of Alibaba Group Holding Ltd (NYSE: BABA), had a chance to speak during the 2nd Bund Finance Summit organized by the China Financial Forty Forum in conjunction with various organizing committee member institutions. During his speech, Jack Ma touched the issues of digital currencies. Jack Ma on Digital Currencies at Bund Summit Apparently, according to the philanthropist and dollar billionaire, digital currencies possess…

SAP Shares Down Over 20% as Revenues Dips in Q3

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The dip in the shares of SAP was further compounded by the company’s update of its Business Outlook for 2020. The shares of the multinational software corporation SAP SE (NYSE: SAP) have plunged by as much as 20% in the pre-market following poor revenue reports released by the company. The same tendency is preserved after the market opening. Now they are 23% down. Per the released earnings, the company attributed the poor performance to the COVID-19 crises which in a way also created an inflection point for the firm’s customers.…

Data Says Bitcoin Market Sentiment Is Rapidly Changing

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Bitcoin price this week surged over $1,000 in a single day on the heels of positive PayPal support news. Just three weeks ago, however, negative sentiment was recently at all-time lows, and shorts were climbing. But in a flash, sentiment has rapidly turned and already reached euphoria. What does this sharp and sudden sentiment shift say about the crypto market, and where it is headed next? Crypto Market Social Sentiment Rapidly Reverses From All-Time Lows The best crypto analysts utilize several key tools they have at their disposal, including technical…

China’s Digital Currency to be Compatible with Alipay and WeChat

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Currently, 10 million yuan in digital currency worth $1.5 million has been issued to about 50,000 randomly selected residents out of a total of 1.9 million people who applied. China recently announced to be taking an important step in launching its digital currency with trials taking shape in Shenzhen. According to the recent buildup, China’s digital currency will be used with popular payment networks like Alipay and WeChat. This follows the recent announcement about the draft law meant to provide legitimacy and regulatory framework for the use of the Digital…

TSLA Stock Drops 1%, Tesla to Ship 7,000 China-Made Cars to Europe

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In a bid to bolster its stocks’ future, Tesla is aiming to venture into the market of Europe. Shares of American electric vehicle company Tesla Inc (NASDAQ: TSLA) were down approximately 1.77% during Monday’s pre-market to trade around $411.83. As the market opened today, TSLA stock is down again. At the time of writing, it is 0.84% down, at $417.08. Tesla stock has been consolidating in the past two months ever since hitting an all-time high. Having previously rallied during the height of the pandemic, Tesla stocks are accumulating fundamentals…

Blockchain Bites: DeFi’s Harvest Hit, IRS’ Crypto Clarification, JPMorgan’s Buoyant Bitcoin Note

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The IRS has clarified some questions around crypto disclosures for the upcoming tax season. A popular DeFi application appears to have been attacked. JPMorgan analysts see “considerable” upsides to bitcoin. Top shelf Crypto guidanceThe U.S. Internal Revenue Service has clarified that simply holding cryptocurrencies does not need to be disclosed. A published set of draft instructions for this year’s 1040 tax form spells out that returnees must disclose any crypto sales, exchanges for goods or services, or exchanges for property (including other crypto assets). Respondents must also reveal if they received…