GDPR Uncertainty a Key Concern of 74% of Blockchain Firms in the UK: Report

Regulatory uncertainty in Britain’s blockchain sector has emerged as one of the biggest concerns for distributed ledger technology firms in the country. According to research conducted by digital innovation agency Digital Catapult, 74% of blockchain firms in the United Kingdom cited regulatory issues as being one of their key concerns, surpassing other issues such as access to technical, business or legal expertise. These regulatory challenges include the European Union’s General Data Protection Regulation (GDPR). As the GDPR unifies Europe’s regulatory landscape regarding the use and storage of personal data, the…

Chatter Report: Buy Walls, Miner Anonymity and Bitcoin vs. the State

News In today’s edition of Chatter Report, crypto influencers debate the importance of buy walls to support crypto prices, reason for and against miner anonymity and ponder the outcome of governments attacking bitcoin. Also read: Markets Update: Bull Trap or Reversal? Traders Question the Recent Crypto Spike Hodlers of Last Resort and Buy Walls Early bitcoin adopter and investor in Kraken, Trace Mayer, argues that crypto market capitalizations are important, but not as important as the hodlers of last resort and “buy support.” Mayer reasons that the combination of investors…

Market Value of Blockchain in Retail to Soar 29-Fold by 2023, Report

The market value of blockchain in global retail is forecast to see a 29-fold increase in value over the next five years, according to an analysis of factors behind the growth, published on PRWeb Nov. 28. The analysis on emerging blockchain applications driving the predicted increase – from $80 million today to over $2.3 billion by 2023 – was conducted by fintech executive Monica Eaton-Cardone. The figure of $2.3 billion by 2023 – at a compound annual growth rate of 96.4 percent – has been taken from a market research…

Token Trading Volumes ‘Plummet’ on Major Exchanges, Diar Report Says

A new report from weekly crypto outlet Diar published Nov. 26 states that trading volumes on major exchanges have dropped substantially. Diar’s data, sampled from across eight leading crypto exchanges  — Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex, HitBTC — reveals that 60 percent of cryptocurrencies that continue to be listed as of Jan. 2018 are now trading at lower volumes than at the start of the year.   Over 20 percent of these have experienced an extraordinary drop, today seeing less than 90 percent of the trading volumes they…

Ohio ‘Appears’ to Be First US State to Accept Bitcoin for Taxes, WSJ Report

The U.S. state of Ohio is poised to become the first state to accept Bitcoin (BTC) as tax payment, the Wall Street Journal (WSJ) reports today, Nov. 25. As the WSJ writes, the move initially applies only to businesses, with plans to extend the offering to individual taxpayers in future. Starting this week, Ohio-based businesses will be able register to pay all of their taxes in the leading cryptocurrency. The payments are reportedly set to be processed via crypto payments service BitPay. As the WSJ reports, the crypto-friendly move was…

Microsoft Knocks out IBM for Enterprise Blockchain Crown: Report

Twitter Facebook LinkedIn Microsoft’s Blockchain-as-a-Service (Baas) platform has taken the top spot in a ranking compiled by market foresight advisory firm ABI Research. Per the report , Microsoft managed to beat competitors in the ranking owing to the advantage it has on the actual implementation front where a wide range of platform services are offered. It also helped that Microsoft’s BaaS platform is deeply integrated with its Azure cloud service, which commands the second-largest market share in the public cloud services market globally. Big Blue IBM came second after Microsoft,…

Report: Bitcoin Use in Payments Collapsed This Year

Bitcoin (BTC) use for commercial payments has reduced significantly this year, according to a study by Chainalysis cited by Reuters Nov. 20. To prepare the study, Chainalysis reportedly surveyed 17 Bitcoin payment processors. The amount of BTC handled by major payment processors reportedly dropped by almost 80 percent from the beginning of the year to September. The analysis of individual payment processors’ figures reportedly shows a downward trend. At Canadian firm Coinpayments, the value of transactions has fallen by more than half between January and October 2018, Reuters reports, citing…

Cryptocurrency Is ‘a Big Deal’ But Needs Institutional Investment, Says KPMG Report

Netherlands-based ‘Big Four’ auditor KPMG released a bullish report on cryptocurrency Nov. 15. The report argues that institutional investors must join the industry for it to “realize its potential.” The report, dubbed ‘Institutionalization of Cryptoassets,’ focuses on why and how institutional investors should enter cryptocurrency, along with “challenges” the process faces and under what circumstances crypto could become a “full-fledged asset class.” “Cryptoassets have potential. But for them to realize this potential, institutionalization is needed,” the report’s authors argue, continuing: “Institutionalization is the at-scale participation in the crypto market of…

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’

Nvidia Q3 Earnings Report Reveals ‘Crypto Hangover’ November 17, 2018 by Akshay Makadiya Powerhouse chip maker Nvidia just released its third-quarter financial figures, reporting a decline in revenue amid waning demand for its graphics processing units (GPUs) from crypto miners. The downturn in crypto mining left Nvidia with unsold GPUs, negatively impacting its fiscal 2019 third-quarter revenues. Also read: Fork Wars: 66% of Bitcoin Cash Miners Now Backing Satoshi Vision Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Nvidia Shares Nosedive With Crypto Hangover The Santa Clara,…

Progress Report: Lightning Network Surpasses $1M BTC Capacity, 4,000 Nodes

The Lightning Network continues to post steady growth. According to data from 1ML, the network is now supported by roughly 4,070 nodes, which house just over 12,500 payment channels, an average of 10.91 channels per node (at time of publication). Most of this growth has come in the later half of 2018, as the average age of each node is just 137 days old. With infrastructural growth, the network is also seeing an uptick in liquidity. At the time of writing, the network’s collective capacity now stands at 223.65 BTC, which, at…