Day: September 10, 2018

The “first” regulated BTC fund in Canada has obtained the status of a mutual fund trust, allowing accredited investors to deposit their units in tax-beneficial accounts

A major U.K.-based online pharmacy has partnered with Stratis to bring the benefits of blockchain to the industry.

UK Meds believe that using the Stratis platform to track patient records will improve security and stop people claiming multiple prescriptions.

UK Meds and Others to Create a Defacto Standard Using Stratis Blockchain

The leading U.K. online pharmacy, UK Meds, has signed a deal with public blockchain and smart contract platform firm Stratis.

The company is hoping to create a platform for all U.K.-based online pharmacies to share information about patients and their prescriptions. This should lead to fewer instances of individuals claiming their medication multiple times from different pharmacies.

Each patient’s request for a prescription will be logged on the blockchain. This will allow all other pharmacies partaking in the initiative to quickly check if the person is indeed eligible to claim the drugs they are requesting. It is thought that this will lead to a safer system, particularly for those requiring opiate-based, addictive medications.

There is currently a lack of coordination between online pharmacies. This allows patients to visit multiple companies websites and claim a prescription many times. This is particularly worrying when some medications such as Oxycodone or morphine are life threatening at high enough doses.

UK Meds are also hoping to use the Stratis platform to streamline its supply-chain. For this, they will use the blockchain’s smart contract functionality. Data about each batch of medication that goes out for shipping will be added to the blockchain. This will allow doctors and patients alike to track drugs from their point of origin right up to their delivery. This will help to reduce instances of fraud in the industry, as well as increase trust in UK Meds.

The news about the UK Meds experiments with the Stratis blockchain were first reported in RTT. However, it is not yet clear whether the firm will be using the public version of the Stratis platform or a private one.

Similar initiatives using private blockchains are being worked on by many different organisations from a plethora of industries.

The British Food Standards Agency has successfully trialled a blockchain-based system that seeks to reduce instances of fraudulent beef making it to market in the wake of the infamous horse meat scandal. Meanwhile, European football governing body, UEFA, has also successfully trialled a blockchain ticket distribution method.

It is believed that such an initiative will help to reduce instances of ticket fraud, as well as to speed up the seat allocation for big matches.

Featured image from Shutterstock.

The post UK Meds Signs Deal with Stratis to Use Blockchain in Online Pharmacy Industry appeared first on NewsBTC.

French soccer club Paris Saint-Germain is launching a fan token together with blockchain platform socios.com

On average, last week’s losses were in excess of 15 percent. Coins as EOS and Monero for example did register 23 percent dips while further losses in Tron would most likely trigger a price collapse towards the coin’s ATLs. Simply put, most of these coins are testing key support lines and are literally at a ledge even when coin specific fundamentals are positive.

Let’s have a look at these charts:

EOS Price Analysis

EOS Daily Chart by Trading View

Week over week, EOS is down 23 percent. As a result what we do have is a double bottom at around $4.5, the first level support line in our EOS price analysis. From our earlier analysis, our trading plan is reliant on how prices react following Sunday’s rejection of lower lows. The thing is, yesterday was pretty even and with a pin bar capping the day, EOS movements are within tight trading range. This means sellers are still in charge as the long upper wick demonstrates. Because of this, we recommend staying neutral until after there are solid moves confirming Sep 9 bull candlestick or a follow through of last week’s depreciation driving prices below $4.5.

Litecoin (LTC) Price Analysis

Litecoin Daily Chart by Trading View

If more USDTs are printed, then its market cap might surpass that of Litecoin (LTC). However, considering the overall demand for a stable coin and USD in this declining market, a single digit drop below $50 would no doubt trigger the next wave of sell pressure edging Litecoin towards $30 in line with our last LTC price analysis. This may oil the next USDT–LTC flip. Anyway, for now, we remain neutral and per our emphasis, we recommend executing trades once prices dip below $50. Alternatively, if LTC bulls close above $60—the upper limit capping gains following Sep 5 losses, then we suggest buying small LTC lots.

Stellar Lumens (XLM) Price Analysis

Stellar Lumens Daily Chart by Trading View

After yesterday’s losses, Stellar Lumens is trading below 20 cents and retesting our main support line at 18 cents. We have emphasized how important this level is and after today, we might see bears breaking below 2018 lows. Notice that yesterday’s candlestick had a long upper wick. Most importantly, it ended up lower building on the trend set by Sep 5 bears. Therefore, any dip and close below 18 cents would most likely trigger bears keen on selling on every pull back retesting the 18 cents to 20 cents resistance zone with targets at 8 cents.

Tron (TRX) Price Analysis

Tron Daily Chart by Trading View

Currently, TRX bears are testing the double bottom and the 1.8 cents support line. In line with yesterday’s TRX preview, we recommend taking a neutral stand applicable for those who missed out on Sep 5 trades. Once there are convincing high volume close complementing last week’s 25 percent loss, then sellers can begin unloading with targets at Jan 24 lows or Tron’s ATLs. If not and TRX get a boost rejecting further depreciation, then any close above 2 cents would likely trigger bulls aiming for 3 cents or just above Sep 5 highs.

Monero (XMR) Price Analysis

Monero Daily Chart by Trading View

A three percent dip in the last day was enough to reverse Sep 9 bullish attempts setting the ground rolling for a potential breach below the main support trend line below $100. A look at last week’s 23 percent loss means odds of a close below this psychological mark confirming Sep 5 losses is high. As per our expectation, any loss driving prices below this mark will undoubtedly means the resumption of sell pressure.  In that case, suitable stops would be at $110 and immediate targets would be at $70.

Disclaimer: This is not investment advice and views represent that of the author. Do your own research before making an investment decision.

The post Litecoin, Stellar Lumens, EOS, Tron, Monero Price Analysis: Altcoins at Key Supports, Path of Least Resistance is Southward appeared first on NewsBTC.

Ripple Labs and R3 have reached a confidential settlement in a case regarding an alleged XRP token purchase agreement violation

Why the IPO of a Robinhood could be a big deal for crypto

At the recent Blockchain Futurist Conference 2018 in Toronto, Canada, popular American television and radio host Larry King spoke with blockchain entrepreneurs Charles Hoskinson, Justin Wu, Al Burgio, and Matthew Roszak about the future of the emerging technology.

Speaking to the audience, Larry King opened the discussion with his personal feelings on the immensity of technological innovation that has evolved over the 61 years of his time in media. He comments nostalgically on the developments of radio, TV and the internet and how all of it has shaped his career over the decades.

“Look what’s happened in this world we live in, it’s beyond belief to see the technological advances,” he offers, before introducing his guests.

The panel discussion, entitled “Mass Influence and Adoption of Blockchain Technology,” looks at the growing influence that blockchain technology is having on both corporate enterprises and the wider general public.

The four panelists are all big names in the industry, each offering a unique perspective from their positions. Hoskinson is founder of the Cardano blockchain, co-founder of Ethereum and CEO of Input Output Hong Kong (IOHK).

Roszak, co-founder and chairman of blockchain development enterprise Bloq, has been involved in private equity and venture capital for 20 years. Burgio is the founder of the enterprise blockchain DigitalBits, while Wu is a Gear blockchain advisor and influencer.

“What is blockchain?” was King’s first question, posed to Hoskinson, who described it as a natural continuation of the internet.

Explaining reasons for its emergence, Hoskinson speaks of the corruptible nature of centralized financial systems: “..whoever controls this system is going to be too big to fail and will cause other problems, so blockchain looked to decentralize and have everybody control it.”

Burgio continues with the sentiment, “The ability to exchange value, in a peer-to-peer manner, between two people who may or may not know each other, sitting at opposites ends of the world, and for that to happen in a matter of seconds or minutes, is just fascinating.”

Questioning Wu on the effect of blockchain on the environment, King notes how the Gear blockchain initiative is helping to combat negative environmental impact. Wu speaks of the need to provide more sustainable and green energy solutions to support the development of the industry rather than try to limit growth. He believes, going forward, blockchain can eventually become a positive influence on the environment.

Roszak discusses the life-changing effects that blockchain can bring to the millions of unbanked citizens the world over and how the open-source, permissionless nature of blockchain is perfectly poised to improve conditions in third-world, emerging economies drastically.

Burgio continues by discussing the way blockchain provides a groundbreaking method of capital creation that in itself can help accelerate the adoption of the technology.

“There is substantially more capital now being invested in all things blockchain,” he mentions.

“How far away are we, realistically, of this being part of a culture like the iPhone?”, King asked Roszak.

“In about a decades time you’re going to be in front of your board seeing that the center of what you do, how you make money, is free,” Roszak says, revealing what he tells CEO’s of banks during meetings. “Today it’s a speculative narrative, [] and I think that overshadows all the work that’s being done by people building out these systems.” he continues.

In closing, King states: “Keep thinking about tomorrow [], don’t laugh at the inventor, [] at the guy who comes forward with the new idea. It’s those guys who change the world. The innovators, the movers, the shakers.”

The post Larry King Discusses Blockchain with Top Entrepreneurs appeared first on NullTX.

A new car retail platform powered by blockchain allows users buy and sell cars in cryptocurrency, providing them with a live vehicle history #SPONSORED

The U.S. Securities and Exchange Commission (SEC) has suspended trading in two Bitcoin and Ethereum investment products until September amid confusion over their nature.

Bitcoin Tracker One and Ether Tracker One are characterized by broker-dealers as exchange-traded funds (ETFs), which legally mean listed funds that track a basket of assets. However, the products’ issuer, XBTProvider, states the investment vehicles are “non-equity linked certificates”, the U.S. financial watchdog argued.

XBTProvider’s “Non-Equity Linked Certificates” Are No ETFs, US Regulator Says

The suspended securities, which are listed on the Stockholm stock exchange, operating under the name Nasdaq Stockholm, were issued by Swedish-based company XBTProvider AB, “the issuer of Bitcoin & Ether Exchange Traded Products” owned by London-based investment firm CoinShares.

The alleged ETF products are designed to grant exposure to the price performance of each cryptocurrency, with fewer fees.

The SEC stated a number of inconsistencies and inaccuracies in the information pertaining to the investment products.

“For example, the broker-dealer application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as “Exchange Traded Funds.” Other public sources characterize the instruments as “Exchange Traded Notes.” By contrast, the issuer characterizes them in its offering materials as “non-equity linked certificates.””

The statement was signed by SEC Secretary Brent J. Fields. It added that during the trading suspension, from September 9 to September 20, 2018, broker-dealers are authorized to assist non-broker-dealer customers with the liquidation of owned positions.

These are those held as of the date of this order in a transaction (or series of transactions ending with a sale) effected on the Nasdaq Nordic or other trading platform located outside the United States or with non-U.S. persons located outside the United States including the issuer.

The U.S. regulator has adopted a very strict approach to cryptocurrency-related exchange-traded funds. SEC has recently rejected a total of nine Bitcoin ETF applications from three different applicants: ProShares, Direxion, and GraniteShares. The financial watchdog argued the ETFs suffered from inadequate resistance to price manipulation in an insufficiently sized BTC derivatives market.

The Winklevoss twins have also failed to convince the SEC to approve their proposed Bitcoin ETF for the second time in late July.

The regulator disagreed with the Gemini founders’ argument that Bitcoin markets were “uniquely resistant to manipulation.” Along with this concern, issues of fraud and investor protection were raised. Tyler and Cameron Winklevoss may be attempting to go around the SEC by proposing to the U.S. government to create a Virtual Commodity Association to regulate the virtual currency industry.

Featured image from Shutterstock.

The post SEC Halts Trading of XBTProvider’s Bitcoin and Ether ETFs appeared first on NewsBTC.

Tyler and Cameron Winklevoss have received the regulatory approval required to issue their stablecoin, Forbes reported on Monday, September 10. The new stablecoin is known as the Gemini Dollar and is developed on the Ethereum blockchain. The Winklevoss twins will issue the stablecoin through their Gemini Trust Company, with each token being backed by one U.S dollar in reserve.The fiat will be held by financial services giant, State Street in what is its first venture in the field.

The approval comes in tandem with yet another approval for the issuance of a stablecoin granted to Paxos, the company that operates itBit crypto exchange. Paxos’ stablecoin will be known as the Paxos Standard Coin and will also be developed on the Ethereum blockchain.

The Stablecoin Race

Once an area that was dominated by Tether with very few others interested, stablecoins have offered a new frontier for growth that many companies are striving to dominate. The Winklevoss twins are among those out to take over the industry and despite the existence of several competitors, Tyler Winklevoss believes the Gemini Dollar will have an edge over its competitors. The CEO of Gemini, Tyler revealed a “network of trust” that will ensure there is no shady business that has become characteristic of the stablecoin industry. Tether, the biggest stablecoin and the second-most traded crypto after Bitcoin, has become enshrouded in never-ending controversy as accusations of price manipulation emerge from several industry players.

For one, Gemini will work with a trusted financial services giant, State Street. The Boston-based corporation will hold the dollar reserves in an FDIC-insured account, with San Francisco-based audit firm BPM conducting an audit every month to ensure that every Gemini Dollar is backed by a dollar in reserve.

While Gemini didn’t reveal if there are clients who are lined up to purchase the stablecoin, Tyler stated that the Gemini Dollar would target decentralized applications built on the Ethereum network as well as investors and traders seeking to move value. As revealed by the report, the stablecoin will comply with ERC-20 token standard and will thus be easily interoperable with other ERC-20 compliant services.

The Gemini Dollar will greatly ease the burden for traders on the Gemini crypto exchange, Tyler explained. Previously, traders could not move fiat value at night or during the weekends. However, with the Gemini Dollar, they can move their value at any time and redeem it for fiat currencies any time they wish.

Gemini is not taking any chances with its security and has hired New York-based security firm, Trail of Bits. The firm is highly regarded in the crypto and blockchain industry, being the current chair of the Enterprise Ethereum Alliance’s security task force. Trail of Bits has been working on Gemini’s stablecoin for months, identifying any issues with the code which the firm quickly addressed. The security firm even sent two of its engineers to analyze Gemini Dollar’s code for two months.

Earlier in the day, the New York Department of Financial Services (NYDFS) also gave the green light for the Paxos Standard Coin, a stablecoin developed on the Ethereum blockchain by New York-based Paxos Trust Company. Paxos is the parent company of itBit, the 46^th largest crypto exchange at press time, having facilitated $22 million worth of trades in the last 24 hours. The stablecoin will be backed by U.S dollars as well which will be deposited in four different banks, Paxos CEO and founder Charles Cascarilla revealed. Trading as PAX, the stablecoin will be used on the itBit exchange, with Paxis hoping to list it on other exchanges in due time.

The post Winklevoss Twins Launch Their Stablecoin, The Gemini Dollar appeared first on NullTX.