Inshorts

Bank of America applies the blockchain technology
August 15,
2017
The price of bitcoin has set a new record $4,200

Bitcoin conquered the $4,200 mark. According to the charts of Coinmarketcap, this price was set in the morning of Sunday, August 13. The bitcoin’s market capitalization exceeded $68 billion. Analysts noted the increased investors’ interest for bitcoin, after it has successfully survived the fork on August 1. Among other favorable factors are the upcoming activation of the SegWit protocol and the increased demand for the cryptocurrency on the Japanese markets. Bitcoin has demonstrated more than 300% growth, as at the beginning of the year its price was less than $1000. The price predictions of the bitcoin experts vary, converging to the fact that bitcoin will retrace the stages of gold in its cryptocurrency evolution, becoming in time a costly benchmark, rather than a small change.

European Union to adopt Revised Payment Service Directive

The European Union is developing fintech technology, keeping the security of the existing infrastructure. In January 2018 the Revised Payment Service Directive (PSD2) will be adopted. It is aimed at protecting the consumers’ rights and strengthening the competitive market. According to this new regulatory document, financial services will be provided not only by banks. These rules for providing access to banking API are already used by some startups, which are able to connect to banking data, verify accounts and access transactions in real-time. This new PSD2 guidance pays a lot of attention to blockchain technology which will help to better protect financial data and enable banks to provide transactions in real-time. 

Bank of America applies the blockchain technology

Bank of America applied for new patents tied to blockchain. As CNBC states, Bank of America (BOA) applied to the United States Patent and Trademark Office (USTPO) for 3 types of patents regarding the blockchain technology. The first patent simply would allow BOA to authenticate user and transaction information through a blockchain system. The second patent utilizes a distributed ledger system that monitors and verifies user identities on a network. The last one is about the system that monitors changes in user history at a specific timeline and creates a “map” of the user and his history. This act shows that BOA is going to heavily invest in bitcoin and blockchain technology. 

Mining madness is growing
August 14,
2017
Ripple retains leadership positions

Ripple is the third worthiest cryptocurrency. As webrazzi signifies, on the first half of 2017 year Ripple became the most profitable cryptocurrency on a stock market. According to Coinmarketcap, Ripple’s price rose four thousand percent in comparison to the last year and for now its market capitalization equals more than $6 billion. One of the Ripple’s seniors Miguel Vias points that the company focuses on international payments with XRP and they have a clear plan for further action. Let us remind, Ripple is the third in terms of marketcap cryptocurrency after bitcoin and ethereum.


SEBI establishes a committee to explore blockchain

The Securities and Exchange Board of India (SEBI) will explore blockchain for a potential use in regulative processes. As reported by Coindesk, SEBI announced on establishing Committee on Financial and Regulatory Technologies (CFRT) to research blockchain opportunities in the areas of asset management, fundraising and post-trade settlement. The new committee is supposed to develop a roadmap for a regulatory sandbox aimed at promoting innovative technologies in the financial sector. The establishment of a new committee coincides with the government of India taking steps to regulating cryptocurrency activities.

Mining madness is growing

Mining volumes continues growing. Along with the increasing numbers of miners, more amazing stories appears. As news portal pchocasi.com reports, one of the Hong-Kong based mining company has rented a Boeing 747 cargo airplane fully loaded with graphic cards. Genesis Mining CEO Marco Streng announced that nowadays the company is earning 36 thousand Ethereum daily, worths $7 Mln. On the other hand, the CEO of the graphic card manufacturer AMD, Lisa Su commented, she doesn’t think that mining is a good long-term investment instrument. 

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. 

Japanese Yen beats USD and Chinese Yuan
August 10,
2017
Central Bank of Argentina is not afraid of bitcoin

Central Bank of Argentina support the use cases of bitcoin. According to btcmanager, Vice President of the National Bank of Argentina, Lucas Llach, the government and the organizations are supporting the digital currency. In his statement Llach emphasized the digital currencies’ benefits: secure and efficient nature and absence of third party service providers. Argentina’s optimistic approach towards cryptocurrencies prove that it’s planning to embrace and adopt bitcoin as a legitimate payment network and digital currency. 

Gibraltar Stock Exchange to adopt blockchain

Gibraltar Stock Exchange to integrate blockchain into its trading and payment systems. According to Coindesk, a company called Cyberhub Fintech, a part of Broctagon Group, will assist it to adopt the blockchain. The company has already announced the strategic partnership with the exchange and has become its shareholder. For the Gibraltar Stock Exchange it is not the first experience of integrating the blockchain technologies. Over a year ago it announced the launch of an exchange-traded instrument (ETI) tied to the price of bitcoin. 

Japanese Yen beats USD and Chinese Yuan

Japanese Yen took the first place in terms of bitcoin trading volume. According to cryptocompare monitoring, Bitcoin trading with Japanese Yen (JPY) has more than 117 BTC volume, worth over 43 mln JPY, with almost 42% market share. Thus, Japan is moving to the first place and becomes the world's largest stock market for bitcoin. Yen’s such opportunity has been triggered due to almost zero-fee trading rules of Japan. US Dollar and Chinese Yuan took second and third places after Yen with 25% and 14% share rates. The biggest surprise came from Polish Zloty (PLN) which took sixth place and overtook the British pound, the Australian dollar, the Canadian dollar and the Russian ruble.

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. 

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