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ICBC’s First Blockchain Patent Is Now Public

Industrial and Commercial Bank of China, a major state-owned bank, is exploring how to verify and share users’ certificates on a blockchain.

Industrial and Commercial Bank of China, a major state-owned bank, is exploring how to verify and share users’ certificates on a blockchain.

Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds

Blocktower Capital has expanded once again by poaching the executive ranks at Goldman Sachs as the migration from Wall St. to crypto land continues. Blocktower Stacks Executive Rolls from Goldman’s Ranks Blocktower Capital is one of the most prominent of over two hundred hedge funds in the booming crypto space right now. Founded in April 2017 by Ari Paul

The post Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds appeared first on NewsBTC.

Blocktower Capital has expanded once again by poaching the executive ranks at Goldman Sachs as the migration from Wall St. to crypto land continues.

Blocktower Stacks Executive Rolls from Goldman’s Ranks

Blocktower Capital is one of the most prominent of over two hundred hedge funds in the booming crypto space right now. Founded in April 2017 by Ari Paul and Matthew Goetz who was previously in Goldman’s asset management division Blocktower has attracted several high-level executives away from the legendary banking firm.

Steve Lee a former portfolio manager and trader at Goldman’s Asia division as part of its asset management unit is one of Blocktower’s most recent hires. Lee who is expected to maintain relationships he made while working in Japan and South Korea will be involved in researching new investment opportunities at the firm as was reported by Business Insider.

Lee’s move follows closely behind Blocktowers acquisition of Elizabeth Ralston, formerly a vice president at Goldman, as the firms legal and complicate director. In January the fund hired another of Goldman’s VPs away,  Michael Bucella as head of strategic partnerships and business development.

These latest recruits are following a trend of Wall Street executives crossing over to the quickly developing crypto fund space that has gone from 19 in 2016 to nearly 250 this year as institutional money comes to terms with the growth and stabilization of cryptocurrencies. Blocktower which opened it’s doors in 2017 quickly raised a $140 million in capital from investors like Andreessen Horowitz along with a mix of VR and family offices.

Execs Look to the Future in Crypto

Other fintech startups have cherry-picked Goldman’s upper floors as well. As formerly reported by News BTC former executive director of the banks London office Richard Kim was hired away to become Chief Operating Officer at Galaxy Digital.

The New York Stock Exchange has also lost top employees to the digital market as Christine Sandler former head of sales for NYSE Euronext and Eric Scro former head of finance both left to join crypto exchange Coinbase.

Cryptocurrency exchange Kraken has attracted Nelson Minier formerly of Credit Suisse and Nick Gustafson former senior vice president at Jeffries to its new over the counter trading desk.

As regulation continues to give clarity and custody to the cryptocurrency trading space the presence of hedge funds is expected to continue grow at an ever-increasing rate and the migration of institutional banking executives following the money to crypto will likely follow closely. For Goldman’s part, it just made its first crypto hire recently as Justin Schmidt will join the new york based investment bank as  head of digital asset markets.

The post Goldman Sachs Executives are Moving to Cryptocurrency Hedge Funds appeared first on NewsBTC.

Bitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure Transactions – newsBTC

newsBTCBitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure TransactionsnewsBTCStandford applied physics doctoral student William Gilpin described a parallel in the principal dynamics between a swirling liquid and transactions in cryptoc…


newsBTC

Bitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure Transactions
newsBTC
Standford applied physics doctoral student William Gilpin described a parallel in the principal dynamics between a swirling liquid and transactions in cryptocurrencies like Bitcoin in a study published April 23 in Proceedings of the National Academy of ...

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Bitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure Transactions

Stirring a cup of coffee gave a Stanford physicist insight into the way cybersecurity and bitcoin work, and how it may be improved. Coffee Swirls Give Insight into the Workings of Cryptocurrency Standford applied physics doctoral student William Gilpin described a parallel in the principal dynamics between a swirling liquid and transactions in cryptocurrencies like Bitcoin in

The post Bitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure Transactions appeared first on NewsBTC.

Stirring a cup of coffee gave a Stanford physicist insight into the way cybersecurity and bitcoin work, and how it may be improved.

Coffee Swirls Give Insight into the Workings of Cryptocurrency

Standford applied physics doctoral student William Gilpin described a parallel in the principal dynamics between a swirling liquid and transactions in cryptocurrencies like Bitcoin in a study published April 23 in Proceedings of the National Academy of Sciences. 

Gilpin claims in the study that understanding the parallels between the natural processes at work with fluid dynamics and the mathematical functions that power cryptocurrency may lead to advances in digital security.

Focusing on a principle called Chaotic Mixing he found that if creamer was stirred into coffee in precisely the same way, with the spoon at the same angle, stirring at the same rate then the swirling creamer would create the same pattern each time. Each unique stir would create a unique swirl unlike any other.

The unique patterns in the swirls reminded Gilpin of the way cryptocurrencies function. To be more precise the way that cryptographic operations called hash functions will always “mathematically transform digital information into a unique output that disguises the input.

Just as an exact stirring motion will always create the same swirling effect in coffee, exact input will always create the same output with hash functions. Similarly, as the smallest changes in the stirring technique created different swirls in the coffee, the smallest changes in the input will likely create very different outputs with hash functions.

Additionally, as the swirl in the coffee gave no information about how it was created; the speed of stir or the placement of the spoon – a hash function changes its input information so that it is impossible to identify.

Computations exist in the Natural World

Gilpin was quoted in the Stanford News as saying

 “Having an actual physical model and showing that this is a naturally occurring process might open up new ways to think about those functions,”

As the application of crypto-based operations for everything from legal documents to personal finance grows research into the way hash functions operate will be expanding and Gilpin sees applied physics contributing to the creation of more secure ways of protecting digital information.

The study shows that computations are not only human devised abstractions but exist in the natural world. As Gilpin said “Something as ordinary as a fluid is still performing computations. It’s not something only humans tell computers to do. It’s something that nature does and it shows up in the structure of how things form.”

The post Bitcoin Uses Similar Molecular Movement as Stirred Coffee to Secure Transactions appeared first on NewsBTC.

CoinGeek Conference highlights why Bitcoin Cash is cash – CoinGeek

CoinGeekCoinGeek Conference highlights why Bitcoin Cash is cashCoinGeekFor cryptocurrencies to be successful over the long-term, they need to be versatile and fungible. Bitcoin Cash (BCH) has already proven to be both, and will set the bar for how the …


CoinGeek

CoinGeek Conference highlights why Bitcoin Cash is cash
CoinGeek
For cryptocurrencies to be successful over the long-term, they need to be versatile and fungible. Bitcoin Cash (BCH) has already proven to be both, and will set the bar for how the eCommerce industry accepts digital currency going forward. For anyone ...
Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?newsBTC
Bitcoin.com Fraud Lawsuit Group Gaining Steam With Over 1000 MembersBitcoinist
Bitcoin Cash Adoption Continues: Crypto Cafebar, Gold Vendor, Concealed-Carry ClothingBitcoin News (press release)

all 19 news articles »

Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further? – newsBTC

newsBTCBitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?newsBTCThere was a slow and steady rise from the $1,320 swing low in bitcoin cash price against the US Dollar. The price started an upside move and traded above the $1,400 resistanc…


newsBTC

Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?
newsBTC
There was a slow and steady rise from the $1,320 swing low in bitcoin cash price against the US Dollar. The price started an upside move and traded above the $1,400 resistance level. It also settled above the 50% Fib retracement level of the last drop ...
CoinGeek Conference highlights why Bitcoin Cash is cashCoinGeek

all 14 news articles »

Asian Cryptocurrency Trading Roundup: Top Altcoin is Nano

FOMO Moments As we enter another week in crypto land markets have retracted slightly and negative momentum has caused a correction once again during Asian trading. Total market capitalization has remained well above $400 billion but has fallen a little on the day. Bitcoin has fallen slightly over the past 24 hours dropping 1.65% back

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

FOMO Moments

As we enter another week in crypto land markets have retracted slightly and negative momentum has caused a correction once again during Asian trading. Total market capitalization has remained well above $400 billion but has fallen a little on the day. Bitcoin has fallen slightly over the past 24 hours dropping 1.65% back to just over $9,300 which is still in positive territory. Altcoins are mostly in the red this morning as traders take profits which is a natural part of the market cycle. As usual one is standing out from the rest with solid gains over the past day and that coin at the moment is Nano.

According to Coinmarketcap Nano has gained 10% over the past 24 hours and continues to climb in Asia this morning. Trading at $8.45 Nano has risen steadily from $7.64 this time yesterday when most other altcoins have fallen during the period. Over the week Nano is up 18.6% from $7.20 this time last week and on the month gains are even greater with a 70% jump from around $5 the same time last Monday. Against Bitcoin Nano is trading 12% higher on the day at 91000 satoshis from 80400 sats this time yesterday, over the week gains on BTC have been around 11% from 82000 satoshis this time last week.

Nano is the rebranded version of RaiBlocks however it has been in decline since the rebrand in early February. The BitGrail incident did not help the Foundation but they did offer support for those who lost out in the hack. The recovery started in mid-April and Nano has been steadily climbing ever since almost doubling in price since then. Last week Nano deposits were reopened on Binance but there have been no other significant announcements since then to drive current momentum for the peer to peer micropayments cryptocurrency.

Trading this morning has been predominantly on Binance which has over 90% of the total volume in Nano. That volume has jumped significantly in the past 24 hours by 165% from $20 million to $53 million. Consequently Nano has edged back into the top 25 at 24th spot with a market cap of $1.1 billion.

Total crypto market capacity has fallen over the past 24 hours by 2% to $430 billion where it currently stands. Over the week the uptrend continues though as all cryptos have gained a combined 9.5% since this time last Monday. Other altcoins showing strong gains this morning include Neo which is up an equally impressive 9% on the day. Tron, Qtum, and VeChain are also in the green when most others are correcting lower.

More on Nano can be found here: https://nano.org/en

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 Nano appeared first on NewsBTC.

Ethereum Price Technical Analysis – ETH/USD Gaining Momentum

Key Highlights ETH price gained traction recently and moved above the $680 resistance against the US Dollar. There is a key connecting bullish trend line forming with support at $680 on the hourly chart of ETH/USD (data feed via Kraken). The pair is positioned nicely above the $680 support and the 100 hourly simple moving

The post Ethereum Price Technical Analysis – ETH/USD Gaining Momentum appeared first on NewsBTC.

Key Highlights

  • ETH price gained traction recently and moved above the $680 resistance against the US Dollar.
  • There is a key connecting bullish trend line forming with support at $680 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is positioned nicely above the $680 support and the 100 hourly simple moving average.

Ethereum price is back in a bullish zone against the US Dollar and Bitcoin. ETH/USD may continue to move higher and it could soon break the $712 high.

Ethereum Price Trend

A positive bias was initiated from the $625 support area in ETH price against the US Dollar. The price started an upside move and moved above the $645 and $660 resistance levels. It also moved above the 23.6% Fib retracement level of the last decline from the $712 swing high to $594 low. It indicates that the price may accelerate higher and it could soon break the last swing high at $712.

The upside move was such that the price even cleared the 76.4% Fib retracement level of the last decline from the $712 swing high to $594 low. These all are positive signs and suggests that the price is poised to accelerate further towards $725-740. On the downside, there is a key connecting bullish trend line forming with support at $680 on the hourly chart of ETH/USD. The same trend line support at $680 is positioned just above the 100 hourly simple moving average. Therefore, a break below the $680 and $670 support levels won’t be easy in the near term.

Ethereum Price Technical Analysis ETH USD

Looking at the chart, it seems like the price is likely to break the $705 and $712 levels to gain further. Any dips from the current levels remain supported above the $670 and $680 levels.

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI is currently around the 55 level and is showing positive signs.

Major Support Level – $670

Major Resistance Level – $712

The post Ethereum Price Technical Analysis – ETH/USD Gaining Momentum appeared first on NewsBTC.

Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further?

Key Points Bitcoin cash price completed a downside correction and recovered above $1,400 against the US Dollar. There is a rising channel forming with support near the $1,380 level on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair may perhaps continue to rise further as long as above $1,350 and

The post Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further? appeared first on NewsBTC.

Key Points

  • Bitcoin cash price completed a downside correction and recovered above $1,400 against the US Dollar.
  • There is a rising channel forming with support near the $1,380 level on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair may perhaps continue to rise further as long as above $1,350 and the 100 hourly simple moving average.

Bitcoin cash price is slowly moving higher towards $1,500 against the US Dollar. BCH/USD is likely to accelerate further with support near $1,400 and $1,380.

Bitcoin Cash Price Trend

There was a slow and steady rise from the $1,320 swing low in bitcoin cash price against the US Dollar. The price started an upside move and traded above the $1,400 resistance level. It also settled above the 50% Fib retracement level of the last drop from the $1,578 high to $1,237 low. It is a positive sign and suggests that the price may continue to rise towards $1,500 and $1,525.

More importantly, the price is placed nicely above the $1,350 pivot level and the 100 hourly simple moving average. There is also a rising channel forming with support near the $1,380 level on the hourly chart of the BCH/USD pair. The channel trend line is positioned with the 100 hourly SMA, which is a positive sign above $1,350. Therefore, the pair remains well supported on the downside near $1,350 and $1,380. As long as the price is above $1,350, it may continue to move higher.

Bitcoin Cash Price Technical Analysis BCH USD

Looking at the chart, the price has to break the 76.4% Fib retracement level of the last drop from the $1,578 high to $1,237 low. A successful break and close above $1,500 could open the doors for more gains towards $1,525.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently well above the 50 level.

Major Support Level – $1,350

Major Resistance Level – $1,500

The post Bitcoin Cash Price Technical Analysis – BCH/USD To Rise Further? appeared first on NewsBTC.

Bitcoin frenzy settles down as big players muscle into market – The Sydney Morning Herald


The Sydney Morning Herald

Bitcoin frenzy settles down as big players muscle into market
The Sydney Morning Herald
Few institutions have gone public about their plans to trade cryptocurrencies, and many asset managers say they still aren’t sure the digital currency is more than a fad. But a Thomson Reuters survey this week found one in five financial institutions
Governments’ tough love has grounded bitcoinEconomic Times

all 9 news articles »


The Sydney Morning Herald

Bitcoin frenzy settles down as big players muscle into market
The Sydney Morning Herald
Few institutions have gone public about their plans to trade cryptocurrencies, and many asset managers say they still aren't sure the digital currency is more than a fad. But a Thomson Reuters survey this week found one in five financial institutions ...
Governments' tough love has grounded bitcoinEconomic Times

all 9 news articles »

ASX Exchange Targets 2020 for DLT Settlement System Launch

The Australian Securities Exchange provided an update on its plans to replace its settlement and clearing system with blockchain technology.

The Australian Securities Exchange provided an update on its plans to replace its settlement and clearing system with blockchain technology.

How artificial intelligence is affected by bias in data

The inherent human “negative bias” is a byproduct of our evolution. However, our discerning inclinations have evolved into more pernicious biases over the years as cultures become enmeshed and our discrimination is exacerbated by religion, caste, socia…

The inherent human “negative bias” is a byproduct of our evolution. However, our discerning inclinations have evolved into more pernicious biases over the years as cultures become enmeshed and our discrimination is exacerbated by religion, caste, social status and skin color. 

SALT Price Analysis – A smart contract lending platform which uses crypto-backed collateral

SALT is a loan platform that aims to marry the old and new world of finance by enabling cryptocurrency collateralized blockchain-backed loans with smart contracts. Currently, only Bitcoin and Ethereum collateralized loans are obtainable. Further crypto…

SALT is a loan platform that aims to marry the old and new world of finance by enabling cryptocurrency collateralized blockchain-backed loans with smart contracts. Currently, only Bitcoin and Ethereum collateralized loans are obtainable. Further crypto-collateralized loans are also on the roadmap, as well as a SALT credit card set to launch after June 30th.