Inshorts

Fiat Funding Option Added to Kraken Exchange
April 21,
2017
Fiat Funding Option Added to Kraken Exchange

Kraken adds support for wire transfers in US dollars and other fiat currencies. In addition to USD support, the digital currency exchange is supporting wire transfer deposits and withdrawals in euros and British pounds. The users will also be able to deposit their funds via the wire transfer through the SWIFT system. The withdrawal of funds in the fiat currencies will become available from April 24. It is a notable service update given the timing and the state of the global bitcoin exchange space.

Jihan Wu Convinced China Will Not Aggressively Regulate Bitcoin

Jihan Wu says the Chinese government’s regulation of bitcoin will not affect cryptocurrency investors. Bitmain co-founder Jihan Wu assumed that the People’s Bank of China may have very strong control over the price of bitcoin in the short term, because it can effectively cut the money flow involved in bitcoin trading. He added that potentially it can shut down all the Chinese bitcoin exchanges. However, Jihan Wu is sure that the Chinese government aims only to control the risk for those investors who don’t have enough knowledge about bitcoin, which will not result in very aggressive regulation.

EU Banks to Improve Wage Payment Solutions

Bitwage partners with European banks to achieve same day wage delivery services to its clients. Silicon Valley-based bitcoin payment claims to have implemented real-time transaction viewing and no deposit claims. All users receiving wages from EU companies will be able to see exactly when funds have been received by Bitwage without waiting for it to process payrolls. According to Jonathan Chester, president of Bitwage, the company launched the unique IBANs for all users receiving wages in the EU. Now they have real option for a direct deposit into any wallet of their choice.

Japan Develops Method for Assessing Blockchain

Japan’s ministry develops method for evaluating projects in the blockchain industry. The Ministry of Economy, Trade and Industry published details about the methodology, which was created by the Information Economy Division of the ministry's Commerce and Information Policy Bureau. The Ministry describes the process as a way to assess projects for a variety of use cases, while evaluating 32 necessary characteristics such as scalability, privacy and overall reliability. The creators of the methodology say it was developed to objectively weigh blockchain implementations. 

Disclaimer. This video is brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

Dubai Government to Implement Citywide Platform on Blockchain
April 20,
2017
Dubai Government to Implement Citywide Platform on Blockchain

Dubai rolls out a blockchain-based payments platform. Under the leadership of the Crown Prince of Dubai, Avanza Solutions signed a memorandum of understanding with Smart Dubai Office on 11th April 2017 to implement a citywide blockchain based payments platform. Avanza’s proprietary blockchain ‘Cipher’ is the chosen platform selected by the smart city initiative. According to the official website of the platform, the development is adaptable to both public and permissioned blockchain networks with the implementation of smart contracts through the open-source HyperLedger and Ethereum platforms.

Britain’s Chancellor Believes FinTech to Be Next Industrial Revolution

Philip Hammond believes fintech will change the way people do business and how they access their money. Speaking at the International Fintech Conference in London the Chancellor of the Exchequer said that FinTech provides consumers with better services, more choice, and lower costs. Hammond is sure that London can’t remain the number one fintech spot without reaching out to other businesses and countries to ensure a strong sector that continues to grow.

Crypto Industry Needs Segregated Witness

Mining pool F2Pool supports SegWit activation. One of the biggest mining pool F2Pool signalled for absolute support of Segregated Witness protocol and urged its activation on bitcoin as soon as possible. Earlier the pool creator Wang Chun stated that SegWit may become a catastrophe, however, according to the survey results, fifty six percent of respondents voiced support of protocol activation. F2Pool states that the issue of bitcoin blocksize extension will be put off. Miners hope that bitcoin will evolve and can’t wait to become witnesses of the bitcoin miracles.

Great Britain Allocates Funds for Blockchain Projects

Blockchain is listed in the UK government grants. The British research agency "Engineering and Physical Sciences Research Council" which distributes government grants, announced that 6 million pounds will be allocated for seven blockchain projects. The amount of grants will vary from four hundred twenty to six hundred seventeen thousand pounds. Seven new projects will explore the possibilities of digital technologies in such areas as energy, health, banking and policy-making.

Traders are Sure of Bitcoin Price Fall

The bets that the bitcoin price will fall have surpassed bets that it will rise on the thirteenth of April. The last time such event occurred in February 2016. According to Joseph AdinOlfi's article published on MarketWatch, this tendency shows that the bitcoin scaling discussion is not over yet. Traders lose confidence in the cryptocurrency due to continuing debates over how to upgrade bitcoin software to allow the network to process transactions more quickly and efficiently.

Disclaimer. This video is brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. 

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