Inshorts

Bitcoin updates its summer minimum. The cryptocurrency began a deep correction after the bitcoin has achieved psychologically important mark of $3000. According to the coinmarketcap data, bitcoin has been falling all week since July 11 and by the weekend of July 16 it reached $1850 - its lowest price since the beginning of summer. Such a drastic decrease in bitcoin's price occurs in frame of talks on the network scaling, which broke out even more with the announcement of the SegWit2x protocol launch by the Chinese company Bitmain. Anyway, now bitcoin has found a support line in a $2000 zone and the price fluctuates in this area. Other cryptocurrencies are also slowly returning to the "green zone".

Switzerland becomes more cryptocurrency friendly. According to CoinIdol, a Swiss private bank Falcon Group, a bank with 50 years of expertise in wealth management, has become the first local bank to offer a new feature of blockchain asset management, including Bitcoin, to its clients. A new service has become available through Falcon Group’s cooperation with Bitcoin Suisse AG, a regulated crypto financial broker based in Switzerland. The bank has already received approval from FINMA to launch this unique product. Moreover, Falcom Bank has installed a Bitcoin ATM in the lobby of the bank's headquarters in Zurich.

The guy who showed the sign “Buy Bitcoin” has already earned $15000. According to CoinDesk, on the 12th of July, during an appearance of Federal Reserve chair Janet Yellen before a Congressional committee, an attendee held aloft a "buy bitcoin" sign. The attendee and his friend were ultimately asked to leave, but the image of the sign quickly went viral. Soon after that the cryptocurrency trader CryptoEthan posted the picture with that guy – soon known as the "Bitcoin Sign Guy" – holding up the now-infamous sign with a bitcoin address as well. At a time of press, that address has gathered more than 6 BTC, which is almost $15,000 at current prices.

Decentralized Escrow (DES) company minimizes investment risks. As reported on the company's website, the goal of the DES project is to balance the chaotically growing ICO market. The project aims to create an institution of experts with a worthy reputation, consisting of cryptoeconomics specialists. The startup before the ICO start declares the end product they plan to release, and divide this process in several stages. Investors, experts and specialists form DES follow the implementation of each stage and by voting determine on further financing, on termination of financing, or on returning funds to investors. This approach will allow investors to minimize risks and will help startups not to stop in their goal achievement.

Disclaimer. These videos are 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.

Billion-dollar unregulated gaming industry to embrace blockchain. There is a new “currency” in gaming industry so-called skins. While spending real money on virtual items and skins isn’t new, the new trend is using those skins like money themselves. People trade one skin for another or use them as a substitute for currency when placing bets on e-sports events. There is a huge black market of game skins. The annual turnover of skins reaches billions of dollars, about $5 billion in 2016 as Eilers & Krejcik Gaming research shows. According to the CoinIdol article, blockchain is capable of ensuring better protection of user assets. Two recent video games, namely Spells of Genesis and Beyond the Void, have embraced blockchain and tokenized their in-game assets. 

Read more: Billion-dollar Unregulated Gaming Industry to Embrace Blockchain

The People's Bank of China (PBoC) has opened its new cryptocurrency research lab. According to the CoinDesk release, Yao Qian, the former deputy director of PBoC's technology department, will serve as director of the newly formed facility. Research institute has seven divisions with research interests including blockchain and fintech. A recruitment notice issued by the central bank in November revealed that the PBoC is actively developing prototypes related to blockchain-backed digital currency.

QuickBooks integration to Veem will cut operation costs in accounting. According to accountingweb, Global payments provider Veem has a new integration with QuickBooks Online to help users and accounting professionals streamline the process of making international payments. The integration will allow users to automatically sync vendor bills in QuickBooks for international wire transfers, saving time and money while enabling users to maintain supplier relationships and focus on growing their businesses. Veem’s QuickBooks Online integration is available now and free to use for current Veem customers.

Barclays will integrate the cryptocurrency into the banking system. According to CNBC, the British bank Barclays has met with Britain's Financial Conduct Authority (FCA) and local financial companies to talk about how to make bitcoin safe so cryptocurrency could be implemented into into the banking system. Experts from traditional financial circles believe that the integration can take quite a long time, as cryptocurrencies are often used for illegal purposes. Nevertheless, Barclays in recent years have been increasingly interested in cryptocurrencies and blockchain technology.

ID-card based on blockchain. The city of Zug in Switzerland has recently announced a new option – blockchain-based identity registration for all residents. According to coinidol.com, Zug, known as Crypto-valley, is now often compared to Silicon Valley, as it is home to many crypto-related companies. Zug provides an opportunity for all citizens to get digital identification, based on the Ethereum blockchain system. Residents can register their identity by themselves using a special app that secures personal information using blockchain technology and associates it with a crypto address.

Disclaimer. These videos are 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.