Cryptocurrency & Blockchain breaking news

The Research Center on Technologies, Innovation and Financial Services (CeTIF) - Catholic University and Reply, together with a group of giant financial banking institutions including Banca Mediolanum, Popolare di Sondrio and Ubi, as well as the popular Italian insurance companies such as Mediolanum Assicurazioni, Cargeas Assicurazioni, Nobis Filo Diretto and Reale Mutua, have finally decided to work together on a solution for the issuance of smart insurance policies based on blockchain and smart contract technologies.

The US Senate committee on Energy and Natural Resources issued a document stating that mining consumes about 1% of global energy. On public blockchains, mining embroils the computation of a massive amount of mathematical calculations known as hashes. On a normal day, Bitcoin miners collectively compute over 50 billion gigahashes per second.

As Italy continues with its vision of being Europe's innovation and technology hub, the Municipality of Naples has made a resolution on Blockchain and Cryptocurrency. Now, the crypto community is eager to see how this project will continue to grow. Various accountants, universities, the CNR and many other giant institutions joined this project. The tenacity was received with amusement, but the city of Napoli has proved for another time that it is ahead of the others in integrating law and economics, finance and social participation.

Imagine a company with no board members, CEO or CFO’s. A company that’s run by an automated network, gathering ideas and proposals of all its employees, stakeholders, and community members. A company that gives everyone a say in its future direction, and that actively promotes the collaboration of the commons. Science fiction or science fact? Well, let’s take a look at what NavCoin 's community has created!

Recently, we brought you the news about Facebook launching its own cryptocurrency, allegedly called Libra, by next year – others call it GlobalCoin. The news attracted the attention of some big names in the finance industry to come and support this disruptive initiative. Some of the giant companies willing and able to invest in the project include PayPal, Uber, Visa and MasterCard, and many other forward-thinking individuals are also interested. The official announcement from Facebook is expected soon. Facebook is expected to launch a whitepaper for its coin on June 18.

In the effort to achieve zero tolerance to carbon dioxide emissions using blockchain and other groundbreaking technologies in Italy, the international certification authority DNV GL partnered with VeChain, a giant technology service provider, to establish a platform with the potential to apply the technology and reduce the bi-oxygen demand (BOD) and other carbon emissions.

General Motors Ventures investment section has agreed to collaborate with a blockchain startup to work on a protocol and also develop a fraud protection system for the auto financing sector. General Motors (GM) will put much attention, knowledge and money to invest in this project, so as it can reach to its fruition.

The second quarter (Q2) of 2019 has been an active period for cryptocurrency, where by it has seen bigger value fluctuations that pushed up the price of Bitcoin, the original digital currency and the world’s top cryptocurrency by market cap. Bitcoin hit and surpassed the $9k mark last month, and since then, its lowest trading price has been $7,038, a price it never even thought of in the first quarter (Q1) of this year – approximately 90 days ago. More than $150 million worth of BTC was transferred from one wallet to another at different periods of time and different crypto exchanges.

The world’s third largest cryptocurrency by market cap, Ripple (XRP), is on the move after an unsuspected attack by anonymous hackers. Early this month, around $9.2 million worth of Ripple (23 mln of XRP) was illegally fetched from GateHub, a digital currency wallet service provider. It looks like the hackers are now in the process of moving the stolen Ripple and cashing out at any available opportunity.