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IBM and Marsh to Partner for Blockchain Insurance Platform

IBM and insurance broker Marsh are developing a blockchain-based platform to maximize efficiency in insurance verification. ACORD Corporation and ISN will also be working in partnership with them. The system will be built on IBM’s blockchain platform as well as the Hyperledger Fabric code. Why a blockchain-based insurance platform? A blockchain-based insurance platform can help in reducing …

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IBM and insurance broker Marsh are developing a blockchain-based platform to maximize efficiency in insurance verification. ACORD Corporation and ISN will also be working in partnership with them.

The system will be built on IBM’s blockchain platform as well as the Hyperledger Fabric code.

Why a blockchain-based insurance platform?

A blockchain-based insurance platform can help in reducing time, errors and finally costs. Distributed ledgers have the ability to reform the global insurance industry by maximizing efficiency, giving legal certainty and instant access to documents and mitigating the issue of a single point of failure.

The distributed ledger will replace dated, manual, paper-based systems or digital systems by making the records irrefutable as well as having multiple copies stored. Removing the need for reconciliations and other tasks from a central authority will further reduce costs.

In a world where interactions are time sensitive, instant access to data will result in higher productivity, benefiting businesses. Blockchain will allow multiple participants to view, record and add up-to-date records that will provide more legal certainty due to their tamper-proof nature.

Proof of insurance via a distributed ledger with timestamped transactions will contribute further to increased integrity.

With a decentralized system, there will be no single point of failure. If one party was to have downtime or connectivity issues all data is recorded on the blockchain as transactions and can be revisited upon reconnection.

A permission-based system will allow participants to decide who joins the chain to view or add data. The system will normally consist of the broker, the insurer and the regulator.

How will the system work?

The broker will create a policy while actively mining to contribute to the verification of transactions. The insurer can then create multiple offers based on the statistics from the broker. The broker will then accept the offer and create the insurance policy.

Each interaction is verified and recorded on the blockchain providing transparency among all three parties as they can instantly view the offers or tamper-proof policy.

How quickly will systems change?

Insurance companies are often slow in modernizing its business processes. With a general lack of expertise and awareness around blockchain, companies are outsourcing their IT needs to other firms such as IBM. As blockchain becomes more mainstream and companies develop competitive edges, there will be a wider adoption of the technology.

Expertise in blockchain and security will have to grow to match the demand for new systems, while companies will have to collaborate in order to migrate their interactions over to blockchain. With the current salary rising for blockchain developers, however, not all companies may be eager to migrate currently.

 

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How to Open Your Own Casino with Zerocoin in Just 5 Minutes!

The face on the online casino gaming industry is rapidly changing thanks to new groundbreaking technologies like cryptocurrencies, blockchain technologies, and smart contracts. What this means is that the once impenetrable and over-saturated online casino industry is changing, allowing new blood in, transforming the industry by allowing smaller operators to offer a more unique and

The post How to Open Your Own Casino with Zerocoin in Just 5 Minutes! appeared first on NewsBTC.

The face on the online casino gaming industry is rapidly changing thanks to new groundbreaking technologies like cryptocurrencies, blockchain technologies, and smart contracts. What this means is that the once impenetrable and over-saturated online casino industry is changing, allowing new blood in, transforming the industry by allowing smaller operators to offer a more unique and equitable online casino for all.

ZeroEdge is a brand new online casino platform that completely removes the need to include a house edge in online casino games. Traditionally, casinos always include an advantage, known as a house edge percentage in every casino gaming, including slots, roulette, blackjack and more. The implementation of the house edge has been necessary in order for online casino owners to guarantee a profit off every casino game played and from every casino gambler.

Why ZeroEdge is Different

ZeroEdge is a completely new concept in online casino gambling that runs on an entirely different profit model. In order to play ZeroEdge casino games, gamblers that sign up will need to also invest in Zerocoin, the unique currency which powers the ZeroEdge online casino platform. As more and more online gamblers hear about ZeroEdge and the fact that they can play online casino games with absolutely no house edge, the demand for Zerocoin will increase exponentially.

zeroedge, zerocoin

How You Can Start Your Own Zerocoin Online Casino in Just 5 Minutes

ZeroEdge is a white label online casino solution that allows anyone that is interested in starting their own online casino the ability to do so, and in less than 5 minutes. Starting an online casino the old way is very difficult, it requires enormous amounts of capital just to set up the website and acquire some online casino games. To make matters worse, online casinos compete with each other like piranhas, all going for the same customers.

With ZeroEdge white label, you get to start an online casino that is based on an all-new and unique online gambling concept, so the competition is virtually non-existent. In fact, since you are at the forefront of one of the most significant revolutions in online casino gambling, you won’t even have to worry about drawing in customers. Earnings are purely based on the rise in the value of Zerocoin. As we all know, everyone is tired of being exploited by unscrupulous and greedy online casinos, ZeroEdge is like a breath of fresh air. Add to that the fact that ZeroEdge gambling is powered by Zerocoin cryptocurrency and you have a second potential investment stream and another way to generate profits.

The ZeroEdge white label online casino is already set up and ready to go. Unique online casino games including slots, roulette, blackjack, and others games are being created, all with a 0% house edge. As more and more gamblers begin to switch to 0% house edge casino gaming and investing in Zerocoin, so the model will grow and expand, taking conventional online casino gambling head on.

Setting up your very own Zerocoin online casino is very easy to do and takes less than 5 minutes to set up under the ZeroEdge domain.

 

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SKYF Heavy Lifting Drones to Transport Goods in Vietnamese Seaport

Russia-based SKYF drone manufacturing company and Vietnam-based International Transportation and Trading Company (ITC) agreed to become partners. ITC plans to launch a service for unmanned aerial cargo logistics with SKYF heavy lifting drones and invest the purchasing of two SKYF drones for testing. The deal will be completed by the end of 2019. Now the

The post SKYF Heavy Lifting Drones to Transport Goods in Vietnamese Seaport appeared first on NewsBTC.

Russia-based SKYF drone manufacturing company and Vietnam-based International Transportation and Trading Company (ITC) agreed to become partners. ITC plans to launch a service for unmanned aerial cargo logistics with SKYF heavy lifting drones and invest the purchasing of two SKYF drones for testing. The deal will be completed by the end of 2019. Now the partners are sketching a road map and preparing the paperwork according to the national regulation rules.

At the moment, the primary service of ITC is the waterway transportation. Currently, ITC owns and operates 02 160 TEUs Barge with total capacity of 320 TEUs per turn. Besides, ITC operates inland transport division which has 140 tractors and 160 trailers.

ITC considers new opportunities opening with the growing of the unmanned cargo logistics market. Thus, the company will purchase SKYF heavy lifting drones. The aim of ITC is to expand the set of goods transportation services being provided and to gain a competitive advantages on the regional logistics market.

“We are proud and excited with the opportunity to become the first logistics operator in Vietnam to use SKYF drones. I suppose this agreement opens a new page in the history of regional transportation industry”, OUR PARTNER FROM ITC

“I believe Vietnamese market to open promising opportunities for SKYF. Our cooperation with ITC could start a new era in the regional logistics industry and turn Vietnam into a world leader on the market of unmanned aerial carriers”, says Alexander Timofeev, CEO of SKYF and SKYFchain

SKYF is a heavy-lifting unmanned aerial carrier vehicle with vertical take-off and landing capabilities. It allows the development of different drones with various modifications for diverse tasks ranging from cargo logistics to fire fighting. At present the maximum useful load is 400 kg (880 lbs) and the maximum the flight range is 350 km (220 miles) or up to 8 hours.

In 2018 SKYF team launched the spin-off project named SKYFchain which develops the first Business-2-Robots Operating Platform in the cargo logistics industry. SKYFchain is an open blockchain platform for keeping and exchanging data of all cargo robots’ operations and transactions. Any action on the Operating Platform has an own price depending on the type, frequency and complexity of transactions and is denominated in a traditional currency. All calculations within SKYFchain will be processed in SKYFT tokens, as required by the smart contract logic.

The first cargo robot to start operations on SKYFchain will be SKYF. SKYF will use SKYFchain to operate hundreds of freighter drones that have already been pre-ordered by the largest oil/gas and logistics companies around the world. SKYFchain is open to any other manufacturers of unmanned drones, including cars and cargo ships. It is also open to logistics providers and financial organizations and has every chance to become a universal tool, a standard for the unmanned logistics industry. Within 5 years, SKYF plans to spend over US $50 million to buy SKYFT tokens on the open crypto-exchange. The funds will be used for the further development of SKYFchain. The SKYFT tokens emission conforms the international legislative regulation of the blockchain and is compliant with the SEC of the USA.

International Transportation and Trading Joint Stock Company (ITC) was established on March 07th, 2001. ITC operates in key business areas such as vessel ownership, operation and management, shipping agents and customs brokers, freight road. During years of operation, ITC constantly promote the development and expansion of business as well as gradually invest in new facilities and equipment. Until now, ITC has owned, managed and operated a vessel fleet with a total tonnage of 250,000 DWT, a ground transport vehicle fleet of 140 trucks and operate an international container terminal in Phu Huu Ward, District 9 HCMC known as SP-ITC. ITC is always ready to provide transport solutions and service, delivery at top quality and competitive cost to the customers.

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Blockchain Slump? Banks May Be Fatigued But Insurers Are Pumped

Giving progress reports on their blockchain projects, bankers come across browbeaten and anxious, while their cousins in insurance sound spritely.

Giving progress reports on their blockchain projects, bankers come across browbeaten and anxious, while their cousins in insurance sound spritely.

North America: Crypto and Blockchain News Roundup, 13th to 19th April 2018

North America Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.   USA Authorities launch major investigation into Bitcoin trading: The attorney general for the US district of New York has launched an investigation …

The post North America: Crypto and Blockchain News Roundup, 13th to 19th April 2018 appeared first on BitcoinNews.com.

North America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

 

USA

Authorities launch major investigation into Bitcoin trading: The attorney general for the US district of New York has launched an investigation into one of the biggest cryptocurrency exchanges in the country with big exchanges like Coinbase, Gemini and others under the radar for any financial wrong play.

The Virtual Markets Integrity Initiative could result in more regulations for these cryptocurrencies.

According to the prosecutor:

“With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money… Our Virtual Markets Integrity Initiative sets out to change that, promoting the accountability and transparency in the virtual currency marketplace that investors and consumers deserve.”

Kraken refuses to share data: Crypto exchange Kraken has already locked horns in battle with the exchange openly saying that it won’t comply with the Attorney General’s requests for information if asked.

Kraken co-founder and CEO Jesse Powell’s Tweeted:

“The resource diversion for this production is massive. This is going to completely blow up our roadmap!”

Powell also said that his company’s decision to pull out from New York to “dodge this bullet” was well thought out because the district already requires a “BitLicense” from the New York State department of financial services. Several companies already have the license, including Coinbase, Ripple, Circle and bitFlyer.

StableCoin initiative in US raises more than $133 million from major VC firms: An American blockchain initiative called Basis (formerly Basecoin) aiming to provide a non-volatile cryptocurrency for the masses called StableCoin has raised more than USD 133 million in funding from a pool of major investors from VC funds including Bain Capital Ventures and Andreessen Horowitz.

The project was launched in 2017 to provide a coin that could become the basis of automated operations of a blockchain-based central bank. According to founder Nader Al-Naji, cryptocurrencies are now too much volatile to use and StableCoin is an attempt to bring much-needed stability in cryptocurrency markets.

Blockchain technology to help homeless Texans: Texas capital Austin is working on a blockchain platform that helps address the identity management crisis of its sizeable homeless population. The pilot program aims to become an identification platform for the government to provide financial and medical support to the city’s over 2,000 homeless population. Most of them face issues in accessing these services because of identity-related issues. The homeless population is increasing and could increase by over several thousands more.

The project is being financed by Bloomberg Philanthropies under a Mayors Challenge Program that is seeing 35 cities across the US being awarded pilot grants. The top city from this group will be eligible for a funding of USD 5 million for making the best social impact in their city.

Blockchain-based ID system will allow these homeless people to obtain the services they need to get back on their feet and become productive members of the society according to Austin’s chief innovation officer Kerry O’Connor.

 

Canada

Canadian companies moving to crypto mining from natural resources: Prominent Canadian companies Divestco and Bird River Resources have joined hands in a massive digital currency mining venture according to latest news from the Great White North. The partnership by these two companies is publicly listed and their specialities in different fields outside of fintech and cryptocurrencies showcase the growth of the cryptocurrency sector in the country.

According to Ty Pfeifer, Director of Bird River Resources: “Electricity is one of the largest expenses in running a commercial cryptocurrency mining operation… securing low-cost electricity through our joint cogeneration facility provides us with an impressive competitive advantage.”

The venture will compete with other Canadian companies looking to take advantage of low electricity prices for mining exploits.

 

Mexico

US billionaire with fortune in crypto dies in Mexico: Matthew Mellon, the US billionaire who made a fortune in digital currency has died in a Mexican rehabilitation centre, according to a press release from his family. Mellon had a history of drug addiction and is widely known as one of the early backers of the Ripple (XRP) digital currency. Mellon historically turned a USD 2 million investment into USD 1 billion as XRP went on to become the third largest cryptocurrency in the world.

 

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Major VC Firm Asked SEC to Not Categorize Cryptocurrency as Security

The self-branded “Venture Capital Working Group” has approached the SEC to propose regulatory “Safe Harbors” for some tokens and cryptocurrency. Crypto Advocates Bring Proposal to SEC A group of lawyers and investors assembled by venture capital firm Andreessen Horowitz met with the SEC in Washington on March 28 to lobby against defining all cryptocurrencies as securities which

The post Major VC Firm Asked SEC to Not Categorize Cryptocurrency as Security appeared first on NewsBTC.

The self-branded “Venture Capital Working Group” has approached the SEC to propose regulatory “Safe Harbors” for some tokens and cryptocurrency.

Crypto Advocates Bring Proposal to SEC

A group of lawyers and investors assembled by venture capital firm Andreessen Horowitz met with the SEC in Washington on March 28 to lobby against defining all cryptocurrencies as securities which would subject them to a higher degree of oversight.

The “Venture Capital Working Group” which includes Andreessen Horowitz and Union Square Ventures, the two largest capital venture investment firms in the digital currency space, have proposed a “Safe Harbor” for some virtual currencies to be designated as “utility tokens” instead of securities as regulators have indicated they may be.

The argument falls to whether a token is issued through an ICO and acts solely as an investment of value or if it has utility as a payment method, decentralized from its issuer. As reported in the  New York Times article.

Two currencies used as examples are Bitcoin and Ethereum. Bitcoin was not launched through an ICO and is created daily as miners solve blocks to release new coins which helps maintain the network. Thus Bitcoin is generally considered safe from being regulated as a security.

Ethereum, on the other hand, was launched through a presale, now called an ICO, which the SEC sees as the key to defining a security.

Richard Levin, a lawyer at the firm Polsinelli which works in the cryptocurrency space was quoted by the Times saying,

“It’s a ‘come to the lord’ moment. We are seeing a watershed moment in which many firms in the digital asset community who may have been ignorant of the law — or poorly informed — are now coming to terms with the fact that they are subject to regulators.”

The Question of What is a Security Lingers on

In the past year, $6 billion has been raised by ICO’s creating thousands of cryptocurrencies. The resulting tokens are generally meant to be used as internal payment methods in the software being built. Entrepreneurs in the space argue that is proof of utility and so their coins cannot be considered securities.

Chairman of the SEC Jay Clayton disagrees and believes that almost every token resulting from an ICO should be regulated as a security. In recent months the SEC has subpoenaed dozens of people and companies in order to determine how ICO’s are presented to potential investors.

Securities by law must be registered with regulators and can only be sold on registered exchanges like stocks and commodities. At the moment no registered exchanges offer cryptocurrencies.

As the SEC remains unclear on their policies for regulating the space some entrepreneurs are seeking ways to register their tokens as securities while some cryptocurrency exchanges are seeking ways to become registered as security exchanges.

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Ripple Price Technical Analysis – XRP/USD’s Upside Drift

Key Highlights Ripple price extended gains and moved above the $0.8500 level before correcting lower against the US dollar. There is a key bullish trend line forming with support at $0.7900 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently correcting lower and it will most likely find

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Key Highlights

  • Ripple price extended gains and moved above the $0.8500 level before correcting lower against the US dollar.
  • There is a key bullish trend line forming with support at $0.7900 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair is currently correcting lower and it will most likely find support near the $0.7900-0.8000 zone.

Ripple price surged higher against the US Dollar and Bitcoin. XRP/USD is now placed well in a bullish zone above the $0.7500 level.

Ripple Price Trend

There was a strong upside move noted in Ripple price from the $0.7000 swing low against the US Dollar. The price moved sharply higher and cleared many sell zones on the way up such as $0.7500 and $0.8000. It even moved above the $0.8500 level and traded to a new monthly high at $0.8629. Later, the price faced a tiny resistance around $0.8600, which resulted in the start of a downside correction.

It is currently trading near the 23.6% Fib retracement level of the last upside wave from the $0.7010 low to $0.8629 high. However, there are many supports on the downside near the $0.8000 level. There is also a key bullish trend line forming with support at $0.7900 on the hourly chart of the XRP/USD pair. Moreover, the 38.2% Fib retracement level of the last upside wave from the $0.7010 low to $0.8629 high is close to the trend line support. Therefore, the $0.7900-0.8000 zone is likely to act as a major buy area in the near term.

Ripple Price Technical Analysis XRP USD

Looking at the chart, the price remains in a decent bullish trend above $0.7500. If there is an extended correction from the current level, then there could be a strong buying interest around $0.7900. On the upside, a break above $0.8600 could push the price towards $0.9000.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is moving lower from the 80 level.

Major Support Level – $0.7900

Major Resistance Level – $0.8600

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Tezos Co-Founder Fined and Banned by Wall Street Regulator

Tezos is embroiled in controversy once again as co-founder Arthur Breitman is slapped with a fine and a trading ban for two years by The Financial Industry Regulatory Authority (FINRA). Breitman Fined $20,000 The Wall Street regulatory body has come to a settlement with Breitman after he was accused of making false statements about his side venture

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Tezos is embroiled in controversy once again as co-founder Arthur Breitman is slapped with a fine and a trading ban for two years by The Financial Industry Regulatory Authority (FINRA).

Breitman Fined $20,000

The Wall Street regulatory body has come to a settlement with Breitman after he was accused of making false statements about his side venture (Tezos) while he was actively employed at Morgan Stanley. All registered FINRA securities professionals are required to report any for-profit activity outside of their stated employment if there is “reasonable expectation of compensation.”

The regulatory action stems from a Reuters article published in October that found Breitman, who is registered with FINRA as a French citizen, never disclosed the work he was doing for Tezos while still employed at Morgan Stanley between 2014-2015.

Among the evidence that Reuters published in its article is a business plan written in 2015 that lists Brietmen as chief executive and makes projections on the potential for the company to be worth as much as 20 billion dollars over 15 years.  They also cited two papers Breitman penned under the pseudonym L.M. Goodman about Tezos, showing that he purposely sought to conceal his connection with the company.

FINRA concluded in its settlement agreement that “Breitman did not notify Morgan Stanley at any time that he was engaging in these outside business activities,”

The settlement conditions dated April 18 are that Breitman avoid any dealing with broker-dealers for two years and pay a $20,000 fine.

Breitman neither admits nor denies the charges. His lawyer Sarah Lightdale released a statement saying

“The settlement with FINRA is unrelated to and has no impact on the launch of the Tezos network. Arthur cooperated fully with FINRA at all times and Arthur is pleased to put this personal matter behind him.”

A Series of Conflicts

The Tezos foundation raised $232 million from their initial coin offering last July in order to build their blockchain network for smart contracts but still haven’t delivered any of the cryptocurrency to contributors due to infighting and legal problems in and outside of the boardroom.

The project’s release was originally delayed by problems between founders, Kathleen and Arthur Breitman and Johann Gevers. Gevers finally stepped down from his position as President of the Tezos Foundation under accusations from the Breitmans that he had attempted to embezzle funds and was acting as a hurdle to the progress of their mission.

Other delays came in the form of class action lawsuits brought against Tezos from contributors alleging securities fraud and rumors that the SEC has an ongoing investigation into the foundation.

The latest word from Tezos on Reddit is that they will finally launch their token by late spring.

The post Tezos Co-Founder Fined and Banned by Wall Street Regulator appeared first on NewsBTC.

Bitcoin Pyramid Scheme Allegedly Hoaxed $20 Billion In South Korea – Coindesk


Coindesk

Bitcoin Pyramid Scheme Allegedly Hoaxed $20 Billion In South Korea
Coindesk
Two suspects from South Korea have allegedly used a pyramid scheme that involves bitcoin to swindle a total of $20 billion from investors in the country. The news was made public as a judge from Seoul’s Incheon District Court has issued a fine of $15

and more »


Coindesk

Bitcoin Pyramid Scheme Allegedly Hoaxed $20 Billion In South Korea
Coindesk
Two suspects from South Korea have allegedly used a pyramid scheme that involves bitcoin to swindle a total of $20 billion from investors in the country. The news was made public as a judge from Seoul's Incheon District Court has issued a fine of $15 ...

and more »

Asian Cryptocurrency Trading Roundup: Top Altcoin is Ripple

FOMO Moments Crypto markets are performing well once again and have broken through the previous high from the last rally indicating a return to bullish sentiment. Total market cap has exceeded the $350 billion level and buying pressure has been strong this morning in Asia. Bitcoin has led the charge trading upwards of $8,350 which

The post Asian Cryptocurrency Trading Roundup: Top Altcoin is Ripple appeared first on NewsBTC.

FOMO Moments

Crypto markets are performing well once again and have broken through the previous high from the last rally indicating a return to bullish sentiment. Total market cap has exceeded the $350 billion level and buying pressure has been strong this morning in Asia. Bitcoin has led the charge trading upwards of $8,350 which marks a 2% gain on the day. Altcoins have all been lifted by this momentum and are mostly in the green at the time of writing. One leading the way in the top 25 at the moment is Ripple.

Coinmarketcap is reporting a 15% gain for XRP which puts it ahead of all other cryptocurrencies during the Asian trading session. Ripple’s digital coin is currently trading at $0.84 which is a steady gain from the $0.72 level it was at this time yesterday. Over the week Ripple has climbed 38% from $0.61 this time last Friday. The monthly picture also shows a gain of around 25% as crypto markets start to recover from three months of selling pressure. Against BTC Ripple is up 14% at 10160 satoshis from 8900 sats this time yesterday. The weekly chart indicates an almost 30% gain from 7870 satoshis the same time last week.

Ripple has made more partnerships and agreements than all of the other cryptocurrencies combined yet this has not been reflected in price action over the past few months. It is becoming the company of choice for cross border payments and facilitating financial transfers. The company’s xCurrent platform is now used by over a hundred financial institutions. It doesnt seem like any specific announcements have driven the current bullish breakout as XRP heads back towards the dollar.

The majority of trade this morning has occurred in South Korea on Bithumb and Upbit which have 40% between them in KRW. Japanese Bitbank is the third exchange heavily trading XRP at the moment. Total volume has increased almost 80% from $746 million to over $1.3 billion in the past 24 hours. Ripple’s coin is a solid third in the market cap charts with $33 billion.

Total market capitalization has jumped over 5% in the past day and is currently at $365 billion. This is higher than the previous high from the last rally which is a very good sign for market recovery. Other altcoins showing double digit gains in Asia this morning are Bitcoin Cash, Verge and Nano.

More on Ripple can be found here: https://ripple.com/

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

The post Asian Cryptocurrency Trading Roundup: Top Altcoin is Ripple appeared first on NewsBTC.

Bitcoin Cash Price Technical Analysis – BCH/USD Surging Higher

Key Points Bitcoin cash price soared higher and broke the $960 resistance level against the US Dollar. There is a new connecting bullish trend line forming with support at $960 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is likely to extend gains above the $1,000 and $1,020 levels

The post Bitcoin Cash Price Technical Analysis – BCH/USD Surging Higher appeared first on NewsBTC.

Key Points

  • Bitcoin cash price soared higher and broke the $960 resistance level against the US Dollar.
  • There is a new connecting bullish trend line forming with support at $960 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair is likely to extend gains above the $1,000 and $1,020 levels in the near term.

Bitcoin cash price is surging higher above $980 against the US Dollar. BCH/USD will most likely clear sell offers near $1,000 for more gains.

Bitcoin Cash Price Upside Move

There was a nasty upside move in bitcoin cash price from the $900 swing low against the US Dollar. The price surged higher and broke many barriers on the way up such as $920 and $960. It traded close to the $1,000 level and formed a high near $996. It is clearly in a major uptrend above the $900 swing low and it may continue to move higher in the near term.

Should there be a downside correction from the current levels, the $970 level could act as a support. Moreover, there is a new connecting bullish trend line forming with support at $960 on the hourly chart of the BCH/USD pair. Below the trend line support, the 23.6% Fib retracement level of the last upside wave from the $819 low to $996 high is at $954. Therefore, it seems like the $950-960 support zone is very important for buyers. Below $950, the next support is near the 50% Fib retracement level of the last upside wave from the $819 low to $996 high at $900.

Bitcoin Cash Price Technical Analysis BCH USD

Looking at the chart, there is a clear uptrend in place above the $950 level. BCH will most likely continue to move higher and it could even break the $1,000 and $1,020 resistance levels.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is moving nicely in a bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently around the overbought levels.

Major Support Level – $960

Major Resistance Level – $1,000

The post Bitcoin Cash Price Technical Analysis – BCH/USD Surging Higher appeared first on NewsBTC.

Bad Checks: Twitter’s Identity Crisis Is Costing Users More Than Bitcoin – Coindesk


Coindesk

Bad Checks: Twitter’s Identity Crisis Is Costing Users More Than Bitcoin
Coindesk
Trust, but verify. Borrowed from a Russian writer, it’s one of crypto’s most widely embraced slogans, though one that’s becoming even more relevant on social media, where battling factions bent on promoting the next great high-tech investment are now

and more »


Coindesk

Bad Checks: Twitter's Identity Crisis Is Costing Users More Than Bitcoin
Coindesk
Trust, but verify. Borrowed from a Russian writer, it's one of crypto's most widely embraced slogans, though one that's becoming even more relevant on social media, where battling factions bent on promoting the next great high-tech investment are now ...

and more »

Bitcoin’s Energy Consumption Can Power An Entire Country — But EOS Is Trying To Fix That – Forbes


Forbes

Bitcoin’s Energy Consumption Can Power An Entire Country — But EOS Is Trying To Fix That
Forbes
Proof of work (POW) is data that is costly and time-consuming to produce but easy for others to verify. The Bitcoin POW mechanism is so costly that it consumes the same amount of electricity it takes to power a country like Switzerland in one year

and more »


Forbes

Bitcoin's Energy Consumption Can Power An Entire Country -- But EOS Is Trying To Fix That
Forbes
Proof of work (POW) is data that is costly and time-consuming to produce but easy for others to verify. The Bitcoin POW mechanism is so costly that it consumes the same amount of electricity it takes to power a country like Switzerland in one year ...

and more »