Litecoin merchant processor LitePay is closing up shop.
Litecoin Payments Startup That Won Trader Favor Abruptly Shuts Down
Litecoin merchant processor LitePay is closing up shop.
Day: March 26, 2018
Blockstream Unveils Nanotip LApp for Bitcoin Tipping
The Lightning Network is one of the biggest developments for Bitcoin as of right now. It finally addresses some of the lingering scaling issues, although there is still some work to be done. Blockstream recently introduced the Nanotip LApp, which makes tipping on the LN a possibility. The Nanotip LApp Explained Anyone who has kept a close eye on Bitcoin will know that the network has some issues. It is slow, abysmal in terms of transaction throughput, and unsuited for microtransactions. That will all change very soon, thanks to the Lightning Network. This scaling solution and micropayment option certainly introduces positive changes
The Lightning Network is one of the biggest developments for Bitcoin as of right now. It finally addresses some of the lingering scaling issues, although there is still some work to be done. Blockstream recently introduced the Nanotip LApp, which makes tipping on the LN a possibility.
The Nanotip LApp Explained
Anyone who has kept a close eye on Bitcoin will know that the network has some issues. It is slow, abysmal in terms of transaction throughput, and unsuited for microtransactions. That will all change very soon, thanks to the Lightning Network. This scaling solution and micropayment option certainly introduces positive changes for Bitcoin as a whole.
As such, we will need to find new tools and solutions which will utilize the potential of the Lightning Network. Right now, that is easier said than done, as the number of LN-capable applications is still on the low side. That’s not a big surprise, as the Lightning Network is not production-ready at this stage,. Without proper beta testing, LN cannot be released to the masses.
Blockstream has come up with a new application that will utilize the LN’s functionality in a proper manner. A lot of people are excited about the micropayment solutions offered by the Lightning Network, and users also want to be able to tip other users with Bitcoin. To that end, we now have the Nanotip LApp, specifically designed for this particular scaling solution.
Since tipping is quite popular in the world of cryptocurrency, it is only normal that such functionality will exist as part of the Lightning Network. Tapping into this potential without using a centralized solution, however, is a bit of a challenge. Using a Bitcoin address is a privacy risk, which is another factor which people need to take into account.
With Nanotip, users can tip others through a simple web server which generates Lightning payment requests on the fly. For content creators, this is a pretty big deal, as it allows for the creation of personalized tip bots. Anyone who supports content creators can determine how much they want to give at any given time. It is a pretty straightforward concept that will bring a lot of positive attention to this particular scaling solution.
It is worth noting that this is the third LN-capable app to have come to market in the recent past. Although 3 is a relatively small number, it does show that interest in and demand for LApps are on the rise. There is still a lot of work to be done until the Lightning Network is an effective solution, but the progress being made should not be ignored whatsoever.
Russian-Ukrainian Cybercrime Gang Arrested In Spain, Allegedly Used BTC To Launder $1.24 Bln
A gang of criminals of Russian and Ukrainian origin has been apprehended in Spain. They have allegedly stolen $1.24 bln from various financial institutions over 5 years and converted money into BTC to get away. #NEWS
A gang of criminals of Russian and Ukrainian origin has been apprehended in Spain. They have allegedly stolen $1.24 bln from various financial institutions over 5 years and converted money into BTC to get away. #NEWS
New Data: US Students, Payroll Becoming More Involved In Crypto
21% of US students invest in crypto using student loans, while employees ask to be paid in crypto. #NEWS
21% of US students invest in crypto using student loans, while employees ask to be paid in crypto. #NEWS
Chicago Board Options Exchange Urges SEC to Move Forward With Bitcoin ETFs
According to a letter written by Chicago Board Options Exchange (Cboe) President Chris Concannon, U.S. securities regulators should not stand in the way of exchange-traded funds (ETFs) that hold cryptocurrencies from coming to the market, as they are essentially the same as other ETFs that hold commodities. The letter was in response to statements from the … Continue reading Chicago Board Options Exchange Urges SEC to Move Forward With Bitcoin ETFs
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According to a letter written by Chicago Board Options Exchange (Cboe) President Chris Concannon, U.S. securities regulators should not stand in the way of exchange-traded funds (ETFs) that hold cryptocurrencies from coming to the market, as they are essentially the same as other ETFs that hold commodities.
The letter was in response to statements from the U.S. Securities and Exchange Commission (SEC) earlier this year, in which the agency said “significant investor protection issues” need to be examined before Bitcoin-based ETFs could be offered. The SEC also had concerns around how the products would be priced, stored, and safeguarded, according to Reuters.
Dalia Blass, the director of the SEC’s investment management division wrote: “Until the questions identified above can be addressed satisfactorily, we do not believe that it is appropriate for fund sponsors to initiate registration of funds that intend to invest substantially in cryptocurrency and related products.”
Cboe: ETFs
Cboe believes ETFs would give investors a more transparent and accessible way to get exposure to cryptocurrencies than the spot market. As per Concannon’s letter: “the vast majority of these [the SEC’s] concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation.”
The purpose of Cboe’s letter isn’t to rush the SEC into making a decision, according to Concannon, but rather to “point out areas that can be satisfied” and advocate for the “development of the marketplace.” The exchange asked the SEC to evaluate each cryptocurrency fund and underlying cryptocurrency-related holdings on a case-by-case basis.
“This has been a priority for us since we approached the SEC almost a year ago with the Winklevoss brothers and their original Bitcoin filing,” Concannon said.
CBOE: Bitcoin Futures
Cboe has helped usher Bitcoin to mainstream banking, launching the first market for Bitcoin futures in the U.S. in December of last year. That followed an earlier attempt by Bats — an exchange acquired by Cboe in 2017 — to trade a Bitcoin-ETF from the Winklevoss twins.
A Bitcoin ETF was viewed as a natural next step in Bitcoin’s maturation as an asset after this launch of futures. In response to regulatory issues, however, a number of issuers have withdrawn their applications for a Bitcoin fund. As of now, about a dozen Bitcoin-linked ETFs are sitting in regulatory limbo, waiting for approval.
More than $70 billion in Bitcoin traded hands in the spot market in December when the price reached about $20,000, according to Cboe. Such liquidity would easily support bitcoin ETFs or other exchange-traded products (ETPs), the exchange asserted.
“As the volumes continue to grow, especially on regulated U.S. markets, the overall spot Bitcoin market looks more and more like a traditional commodity market and Cboe continues to believe that the spot market is sufficiently liquid to support a Bitcoin ETP [exchange traded product].”
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Op Ed: Why Korea Could Be the First Cryptocurrency-Powered Nation
Korea has many of the pieces of the puzzle to become the first “Crypto-Powered Nation,” one that runs on blockchains and supports a crypto economy. Here’s what I learned during an intense two and a half days ther…
Korea has many of the pieces of the puzzle to become the first “Crypto-Powered Nation,” one that runs on blockchains and supports a crypto economy. Here’s what I learned during an intense two and a half days there in March 2018.
Some country out there is going to be the first “Crypto-Powered Nation.” That would be one that has widespread adoption of cryptocurrencies, serves as a global hotbed for crypto-innovation, runs enterprise-grade scalable blockchain infrastructure and has a balanced relationship with government.
South Korea could be one and it is one place that may be worth watching over the next few years. Here’s why I think so.
Cryptocurrency Awareness and Adoption Are Already Widespread
Some estimates put cryptocurrency ownership in the country as high as 33 percent of the adult population. The concept of digital asset ownership is mainstream. Granted, it was speculation, jealousy and competition that drove much of the initial interest in bitcoin. At one point, prices peaked at nearly 40 percent higher than foreign exchanges. The phenomenon is known as the “Kimchi premium.”
The end result is that the crypto-infrastructure is in place to handle a large number of customers and almost everyone in the country has heard of the concept. That’s a huge hurdle in the evolution toward daily, mainstream usage. When all is said and done, Korea is the third biggest cryptocurrency market in the world and you cannot become a Crypto-Nation if people don’t even know the technology exists.
Balanced Regulation From the Government Is Expected
Market observers have witnessed that rumors of cryptocurrency regulation from Korea can jolt prices severely upwards or downwards. The country’s on-again, off-again ban of ICOs (Initial Coin Offerings) has left some people confused in the short term, but many Korean crypto-insiders are optimistic.
The current government, led by President Moon Jae-in, relies heavily on the support of the young adult population. Not surprisingly, this is the same demographic that is highly invested in crypto -assets. As one of the first (if not the first) generations to grow up in an era of relative prosperity, the Korean millennials can afford to take chances with their investments in ways that an older, more cost-conscious generation may not have been able to do.
As Henry Lee, Head of Growth at Seoul-based Icon (currently #23 on CoinMarketCap) said, “The government needs the young people to stay in power, and young adults love crypto. They are not going to mess that up.”
Growing Experience With Cryptocurrencies at Scale
Two things are happening in Korea that further drive advanced understanding of cryptocurrencies. The first is the utilization of Korean crypto markets as a vehicle for getting money out of China. The second is the existence of embargoes on North Korea. Both of these factors drive innovation at exchanges and service providers.
Despite the “official news to the contrary,” many observers of the Korean crypto-ecosystem see plenty of evidence that Korean markets are being used by Chinese citizens and businesses to get money out of China. Chinese citizens are notoriously prohibited from exporting more than $15,400 worth of cash. In Korea, I heard from various sources that Chinese businesses have been buying Korean businesses and then using them to move money as well. Some of these funds are then moved into cryptocurrency.
Then there is the North Korean embargo factor.
With the Trump administration imposing new sanctions on North Korea, the rumor is that aid to the embattled North is actually being funneled through crypto channels that cannot be tracked by traditional means or American watchdogs. Additionally, North Korea may be mining cryptocurrency on its own and may be in need of an avenue to get it out of the country. There is also evidence to suggest the North Koreans are targeting exchanges in order to steal cryptocurrencies as well.
As Sonny Kwon, editor-in-chief of leading Korean blockchain publication TokenPost told me, “People in the blockchain space know that massive amounts of money are coming in from China, and possibly much [is] headed to North through hacking and money laundering.”
Between the money coming in and going out, Korean exchanges like Bithumb and the network of providers that support them are seeing a huge amount of activity. The end result is that they are being forced to innovate on security and scaling solutions. After all, not too many other exchanges are facing state-sponsored cyber threats. Koreans are.
It may be money laundering and cyber-theft that are driving innovation, but the solutions should pay huge dividends in other sectors down the road. We’ve seen this happen with other industries like pornography where early innovation and utilization (e.g. how the use of video cassettes drove VCR purchases) drove subsequent growth and innovation in other verticals.
The in-country knowledge could ultimately trickle down to benefit other South Korean companies in the blockchain industry. This, in turn, would give them a competitive advantage by allowing these companies to test and refine a lot of these systems at enterprise scale within the country.
The Crypto-Ecosystem Is Strong And Growing
Last year, Metaps+, a digital couponing company successfully completed the first Korean-based ICO. Prior to that, others, like ICON which raised $45 million (at the time) in their ICO, had based their foundation in Zug, Switzerland (a.k.a “Crypto Valley”) and other locations. However, Metaps+ showed that a successful ICO could happen in Korea. Since then, its founder, Seungyeon Kim, has achieved a type of K-pop rockstar status in the Korean crypto-community for his willingness to take the risk in an uncertain regulatory environment.
Admittedly, there have only been five ICOs in Korea in total, but the trail has been blazed. Now there are at least 50 pure blockchain startups (that’s more than are actually based in Switzerland’s Crypto Valley), four blockchain-dedicated publications, 50 blockchain-related events monthly, and 1000+ crypto-related groups on social networks services like Kakao. A recent conference in Seoul, TokenSky, attracted over 1,000 people, and a company called FoundationX has 10 “reverse ICOs” of existing Korean companies in its pipeline. None of these numbers are huge, but they are growing rapidly.
All of this innovation is happening in a market already known for its high degree of digital connectivity. Anyone who has struggled with losing cell phone coverage in a tunnel will appreciate that every subway car on the Seoul Metro system has not just one or two wi-fi routers, but four. Over 92 percent of Koreans are connected to the internet, and 71 percent have a smartphone (the fourth highest rate in the world). It is no surprise that in this mobile-first environment, gaming companies use Korea as a test bed for new products. The size of the mobile games market is second only to Japan. In short, Koreans are used to trying things out first when it comes to digital tech, and word spreads quickly
Finally, the Korean education system is producing the engineering talent to power blockchain innovation. A recent study placed the country second only to Singapore for its math and science scores. Over 68 percent of Koreans aged 25 to 34 have a bachelor’s degree, and six of the top 200 engineering schools in the world are in South Korea.
Jung-hee Ryu, a Ph.D with a successful exit of his own and now CEO of Seoul-based FuturePlay, one of the leading tech incubators in Seoul, remarked, “Korean universities are turning out some of the most talented blockchain engineers in the world, and an entire ecosystem is rapidly evolving to help them accelerate their time-to-market.’
I was in Seoul earlier this month to keynote at the Digital Marketing Summit, Korea’s largest marketing conference, with over 1,000 attendees. The topic was the future of marketing in a blockchain world.
When I’ve spoken at events in other countries, I ask how many in the crowd own bitcoin or any other cryptocurrency. Usually somewhere between 5 and 33 percent will raise their hands. In this audience, nearly everyone did. Korean marketers, business leaders and innovators are well past the initial euphoria. They are looking toward the future of how crypto -assets will be used and deployed at national scale.
Combine all that with an intense culture of achievement, a drive for economic success and an increasingly global outlook as the country has vaulted to become one of the top 10 economies worldwide, and you have the recipe for a powerful cycle of innovation.
Korea May Not Be (But It Could Be)
I have absolutely no idea what the first “Crypto-powered Nation” will look like or when it will happen. All I am saying is that there a few key ingredients that will be components of a country that runs on blockchains and cryptocurrencies. From my perspective, many of the things that need to be there — experience at enterprise scale, government relationships, academic and technical talent and widespread awareness — are all present in South Korea.
That’s why I am keeping an eye on the market.
This article originally appeared on Bitcoin Magazine.
NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 27, 2018
According to statistics, 97% of all coins listed in the Top 100 list as per CoinMarketCap compilation are in the red. Ontology is the only gainer adding 12.56% while Bitcoin is down 8% trading below $8,000. Basing our finding on price action, we expect further depreciation with EOS possibly reversing last week’s gains and LTC … Continue reading NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 27, 2018
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According to statistics, 97% of all coins listed in the Top 100 list as per CoinMarketCap compilation are in the red. Ontology is the only gainer adding 12.56% while Bitcoin is down 8% trading below $8,000.
Basing our finding on price action, we expect further depreciation with EOS possibly reversing last week’s gains and LTC testing $100 or lower by week’s end.
Let’s have a look at these charts:
XLM/USD (Stellar Lumens)
By press time, Lumens was down 9.23% according to CoinMarketCap statistics. Unfortunately, it seems like Stellar Lumens sellers are just getting started and gearing towards last week’s lows of $0.15.
This is just what the charts hints and coming at a time when Stellar Lumens is receiving awesome developments.
In my view, today sellers should look to ramp up their sells and trade according to the general negative outlay. If there are attempts of higher highs then $0.25 to $0.30 should be ideal sell zones.
IOT/USD (IOTA)
After yesterday’s price action, IOTA sellers are firmly on the driving seat. Because of this, chances of IOTA trading at parity with the USD remain high. Fact is IOTA might even trade lower if this sell pressure persists.
Stochastics in the weekly and 4HR charts are negative. Besides, we take a top down approach and prioritize price development in the weekly chart.
There it’s clear that not only can bears be overambitious and targets $0.85 but they can look forward for further erosion with the bull’s eye at $0.30. That’s October 2017 lows and the stem of Q4 IOTA rally.
EOS/USD (EOS)
Sellers are on a rampage and to put things in perspective, EOS is down 18% in the last 24 hours and reacting from the resistance trend line. In my view, the degradation is just picking up momentum.
If we base our limits on price action then we can as well pick potential support or the ideal bear targets at $4. That’s March 18 lows and the foundation of last week’s 58% gain.
Not this though, if you want to trade this pair then it could help if you wait for stochastics sell signal to form in the 4HR chart before shorting.
Even if prices might recover, the current bear trend is only beneficial for those who are already in the trade. Anyway, any form of EOS recovery means sellers can stand by and wait for sell signals anywhere between $6.5 and $7.5.
LTC/USD (Litecoin)
If we base our analysis from yesterday’s preview then we can see that prices are generally bearish and LTC bulls didn’t push prices above the resistance trend line. As such the series of bear candlesticks from the liquidation line is wonderful but sad from an investor’s perspective.
Zooming out and basing our analysis on the weekly chart, it’s evident that sellers are eye balling $90 or there about. Coincidentally, that’s the 78.6% Fibonacci retracement line.
Considering this bear momentum, it will not be rocket to project that if bears clears March 18 lows at $135, then $100 is an open goal even if LTC sellers may experience rejection along the way.
NEO/USD (NEO)
Initially, March 25 consolidation could have been a short term spring board for NEO prices but as price action means our stop loss was hit.
Overly, we remain bearish meaning traders should look for sell opportunities whenever it arises. Sometime bear target is $50 and any break below that then it’s likely that we might slide towards $25.
All BitFinex, Bittrex and CoinBase charts courtesy of Trading View
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Bitcoin Today: Prices Tumble Below $8,000 as Twitter Confirms … – TheStreet.com
TheStreet.com |
Bitcoin Today: Prices Tumble Below $8,000 as Twitter Confirms …
TheStreet.com Prices broke below the $8000 barrier after a low-volatility week. Here’s what you need to know….TWTR. Bitcoin – The Currency of the Internet – RedditReddit GitHub – bitcoin/bitcoin: Bitcoin Core integration/staging treeGitHub |
TheStreet.com | Bitcoin Today: Prices Tumble Below $8,000 as Twitter Confirms ... TheStreet.com Prices broke below the $8000 barrier after a low-volatility week. Here's what you need to know....TWTR. Bitcoin - The Currency of the Internet - Reddit GitHub - bitcoin/bitcoin: Bitcoin Core integration/staging tree |
0x Team Unveils Lightweight Widget for Frictionless ERC20 Trading
When it comes to buying, selling, and trading ERC20 tokens, there are many different options to choose from. The 0x protocol is certainly worth keeping an eye on, as it aims to decentralize this whole experience. Its new trading widget will certainly help things along in this regard. The 0x Trading Widget Explained Soon after the 0x protocol was introduced, it became pretty evident there would be a lot of interest in this particular solution. The prospect of buying, trading, and selling ERC20 tokens with no intermediaries certainly warrants a lot of positive attention in general. Bringing such a protocol to market
When it comes to buying, selling, and trading ERC20 tokens, there are many different options to choose from. The 0x protocol is certainly worth keeping an eye on, as it aims to decentralize this whole experience. Its new trading widget will certainly help things along in this regard.
The 0x Trading Widget Explained
Soon after the 0x protocol was introduced, it became pretty evident there would be a lot of interest in this particular solution. The prospect of buying, trading, and selling ERC20 tokens with no intermediaries certainly warrants a lot of positive attention in general. Bringing such a protocol to market in a successful manner is always a challenge, though.
So far, it seems the 0x protocol has been well received, as several 0x relayers are already active. With the relayers mainly targeting cryptocurrency users first and foremost, it is evident this is not necessarily a solution for the novice enthusiast. Instead, these relayers mainly focus on experienced traders, mainly due to the vast amount of trading-related information to be found within them.
While those tools certainly have their place in the world of cryptocurrency, the 0x protocol can be used in other ways as well. There is a new trading widget coming to market very soon, which was developed by the 0x team itself. Its main purpose is to present users with a secure and convenient way to instantly purchase tokens with Ethereum through one transaction, which is rather interesting.
The way things work now, layers involve the use of smart contracts, converting ETH to WETH, and so forth. None of these hurdles are deal breakers by any means, but it has become evident the average person on the street is looking for a more convenient manner in which to make use of this new protocol. With the trade widget, that should become a possibility pretty soon.
With this new token, it comes down to selecting the currency or token you want to purchase and entering the amount of ETH you want to spend. It is a lot simpler compared to what people using the 0x protocol are accustomed to right now, which will only spark more interest in this project as a whole. All of the trading occurs behind the scenes, and there is no friction.
How people will use this new widget remains to be seen. It is possible web services and mobile apps will integrate this functionality at some point in the future, although nothing has been confirmed yet. This widget will also be compatible with ERC-721 tokens once that standard is officially supported by the 0x protocol’s smart contracts in the next update.
Twitter Confirms Ban On Cryptocurrency Ads
Twitter confirmed rumors that they will ban crypto advertising on the platform, ban includes ICOs, token sales, and exchanges. #NEWS
Twitter confirmed rumors that they will ban crypto advertising on the platform, ban includes ICOs, token sales, and exchanges. #NEWS
Twitter, Backed by Bitcoin Fan Jack Dorsey, to Bar Some Cryptocurrency Ads Starting Tuesday – Fortune
Investopedia (blog) |
Twitter, Backed by Bitcoin Fan Jack Dorsey, to Bar Some Cryptocurrency Ads Starting Tuesday
Fortune Square and Twitter CEO Jack Dorsey may see Bitcoin as the world currency in a decade, but for now, many cryptocurrency ads will be banned. NICOLAS ASFOURI AFP/Getty Images. By Lucinda Shen. 4:12 PM EDT. Twitter and Square CEO Jack Dorsey’s belief in … Bitcoin Price Falls On Reports Of Twitter Banning Cryptocurrency AdsInvestopedia (blog) Bitcoin Today: Prices Tumble Below $8000 as Twitter Confirms Crypto Ad BanTheStreet.com |
Investopedia (blog) | Twitter, Backed by Bitcoin Fan Jack Dorsey, to Bar Some Cryptocurrency Ads Starting Tuesday Fortune Square and Twitter CEO Jack Dorsey may see Bitcoin as the world currency in a decade, but for now, many cryptocurrency ads will be banned. NICOLAS ASFOURI AFP/Getty Images. By Lucinda Shen. 4:12 PM EDT. Twitter and Square CEO Jack Dorsey's belief in ... Bitcoin Price Falls On Reports Of Twitter Banning Cryptocurrency Ads Bitcoin Today: Prices Tumble Below $8000 as Twitter Confirms Crypto Ad Ban |
Crypto Market In The Red, Bitcoin Falls Below $8000, Ethereum Dips Below $500 – Cointelegraph
CointelegraphCrypto Market In The Red, Bitcoin Falls Below $8000, Ethereum Dips Below $500CointelegraphMonday, March 26: Cryptocurrency markets have accelerated the downward trend that started yesterday, and are currently in the red. Ethereum (ETH) dip…
Cointelegraph | Crypto Market In The Red, Bitcoin Falls Below $8000, Ethereum Dips Below $500 Cointelegraph Monday, March 26: Cryptocurrency markets have accelerated the downward trend that started yesterday, and are currently in the red. Ethereum (ETH) dipped below the $500 level for the second time this month after reaching close to $600 on March 24 ... |
Crypto Startup Circle Hires a Square Vet as CFO to Aid Expansion
Circle has hired Naeem Ishaq as its new chief financial officer, treasurer and executive vice president of risk as the startup expands globally.
Circle has hired Naeem Ishaq as its new chief financial officer, treasurer and executive vice president of risk as the startup expands globally.
Twitter Joins Facebook and Google in Banning Crypto Advertising
The global social media platform Twitter has announced today that it will no longer allow advertising for certain cryptocurrency products and services. The news follows similar moves from other internet giants Google and Facebook. The hope is that such bans will help to protect vulnerable investors from deceptive campaigns by fraudulent companies. Google, Facebook, Now … Continue reading Twitter Joins Facebook and Google in Banning Crypto Advertising
The post Twitter Joins Facebook and Google in Banning Crypto Advertising appeared first on NewsBTC.
The global social media platform Twitter has announced today that it will no longer allow advertising for certain cryptocurrency products and services. The news follows similar moves from other internet giants Google and Facebook. The hope is that such bans will help to protect vulnerable investors from deceptive campaigns by fraudulent companies.
Google, Facebook, Now Twitter
According to a report on Reuters, the ban will come into effect starting on Tuesday. It will cover most but not all cryptocurrency-related products and services. These will include initial coin offerings (ICOs), cryptocurrency wallet services, and many digital asset exchange platforms.
A spokesperson for Twitter told CNBC:
“We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency… Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
The news confirms rumours that circulated earlier this month that Twitter would follow the likes of Facebook and Google in their banning cryptocurrency ads. During the beginning of March, Google updated their financial services policy to include restrictions on digital currency promotion. These measures will come into effect in June. Meanwhile, Facebook announced their initiative against the advertising of fraudulent crypto products and services in late January.
When the Twitter ban was first hinted at, CNBC report that Bitcoin prices fell sharply. They recovered most of that drop in a matter of hours though. However, not everyone sees the news about the advertising restrictions as important to the price of BTC. Brian Kelly, CEO of BKCM, a prominent digital asset investment fund told the publication that the market was “just drifting lower” and the news wasn’t really anything to concern investors in Bitcoin. For him:
“… the biggest potential short-term catalyst is increased trading in South Korea as that government re-embraces crypto.”
Whilst Jack Dorsey’s platform is publicly declaring war on fraudulent cryptocurrency-related schemes, the Twitter CEO is continuous in his support of the world’s most popular digital asset – Bitcoin.
As CEO of Square, the entrepreneur recently launched BTC buying and selling options on his company’s Cash App. In addition, he has contributed personal funds towards the development of the Bitcoin scaling solution known as Lightning Network. He was amongst a group who contributed $2.5 million to improving the software upgrade that went live on the Bitcoin main net earlier this month.
Finally, the main man at Twitter also made the particularly brash claim that Bitcoin will eventually emerge as a single currency for the entire planet. With less money following bogus products, perhaps such bans will be favourable for Bitcoin’s market dominance going forwards.
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IBM VP Confirms Stellar Lumens Will Be Used as Bridge Asset
IBM is one of the major technology giants paying close attention to blockchain technology. The company has high hopes for this technology, although it remains to be seen how Big Blue will incorporate it exactly. Interestingly enough, its VP recently confirmed that Stellar is a “big” part of the company’s IBM blockchain platform strategy. IBM and Stellar Make an Interesting Combination It has become evident that a lot of companies have high hopes for blockchain technology. Granted, not every idea needs a blockchain, but most of them will certainly make some form of impact sooner rather than later. Until then, most of this industry
IBM is one of the major technology giants paying close attention to blockchain technology. The company has high hopes for this technology, although it remains to be seen how Big Blue will incorporate it exactly. Interestingly enough, its VP recently confirmed that Stellar is a “big” part of the company’s IBM blockchain platform strategy.
IBM and Stellar Make an Interesting Combination
It has become evident that a lot of companies have high hopes for blockchain technology. Granted, not every idea needs a blockchain, but most of them will certainly make some form of impact sooner rather than later. Until then, most of this industry is grounded in guesswork and hype.
IBM, on the other hand, has been making some big strides in the world of blockchain technology. The company is working on various solutions including a way to speed up and reduce the cost of cross-border transactions. That in itself is pretty interesting, as IBM is not alone in this regard. It is evident that competition in this space will be quite beneficial in the long run.
What makes IBM’s blockchain approach so appealing is that it mainly relies on Stellar’s technology. IBM VP Jesse Lund recently confirmed that Stellar Lumens is being used in a real-world environment for the company’s blockchain solutions, which took a lot of people by surprise. Although both companies signed a partnership back in October of 2017, there have been few updates as to how this situation would evolve in the long run.
It seems things have been progressing quite nicely so far. IBM is working with Stellar Lumens in very interesting ways, and the progress made to this point has surpassed even the boldest of expectations. If this trend keeps up, nothing will prevent Stellar Lumens from becoming IBM’s primary bridge asset in its universal payment solution. That would certainly be a major development for both companies.
Additionally, Lund confirmed IBM has no plans to create its own blockchain token as of right now. While most people may have expected as much, it’s still good to see this being confirmed. With so many companies issuing their own tokens and assets as of late, it has become apparent that this industry is not necessarily headed in the right direction. Thousands of currencies exist already, and there is no need to create any more.