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After having integrated the IOTA Tangle in the ARXUM Production Protocol, the second  Proof-of-Concept (PoC) has been achieved already. EOS is now successfully implemented in the ARXUM Production Protocol and solidifies ARXUM’s path to become a truly blockchain agnostic solution.

EOS is a new blockchain technology with smart contracts programmable in C++. It is a delegated proof-of-stake consensus mechanism, has a higher speed than Ethereum in terms of transactions per second, and is considered one of the most promising blockchain projects to date. A production order is created on Ethereum and paid with AX tokens. An-IoT device accepts the contract and then the physical production events are transacted into the EOS blockchain. While the transaction fee is paid through Ethereum, any other blockchain technology can be plugged into the mechanism to handle all production-related transactions.

As ARXUM provides a digital supply chain infrastructure for industrial manufacturing companies, ARXUM needs to be able to select the best technology for any supply chain application. Therefore, the ARXUM Production Protocol aims to run on any available blockchain protocol that can use smart contracts.

There are different scenarios that prove how important it is for ARXUM to be blockchain flexible. For example, some production processes create a high number of payment transactions over time, which means state channels could be beneficial. Other production scenarios may have low transaction volumes but require elaborated smart contract templates. Some may have a high number of participants interacting with a single manufacturing order over a long period of time. There are also several other scenarios that could demonstrate ARXUM’s need to be flexible regarding blockchain protocols and ARXUM is currently working on implementing Bigchain DB in its Protocol.

ARXUM is the new blockchain based solution to organize cross-company production of mass-customized products. The ARXUM Production Protocol brings all production peers together in one single smart contract per production order and uses blockchain-inherent features to implement a multitude of functionalities required in a digital supply chain.

Website: https://.arxum.com
Whitepaper: https://arxum.com/downloads/

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post First IOTA, now EOS – ARXUM becomes blockchain agnostic appeared first on NullTX.

The newly appointed Finance Minister of Zimbabwe is pushing for the formation of a cryptocurrency unit to help guide government policy relating to the technological and financial innovation. Mthuli Ncube also believes that the nation should pursue investments in the space.

Will Zimbabwe Start Buying Cryptocurrency?

According to a report in local news publication ItWebAfrica, the newly appointed Zimbabwean Finance Minister, Mthuli Ncube, believes that the answer to the nation’s ongoing financial woes could be cryptocurrency. He said:

“Zimbabwe should be investing in understanding innovations and often central banks are too slow in investing in these technologies. But there are other countries which are moving faster. If you look at the Swiss central bank they are investing in- and understanding bitcoin.”

In recent memory, Zimbabwe has been struggling to recover from the fallout of a severe bout of hyperinflation. On top of this, a liquidity crunch along with general shortages of cash have largely been caused by diminishing Nosotro accounts.

Exacerbating these struggles is a declining demand for Zimbabwean exports and the government has been financing spending with an over-issuance of Treasury Bills. This has meant that banks have been forced to impose withdrawal limits, causing people to struggle to access any money they might have saved. The shortage of cash in Zimbabwe has forced citizens to travel out of the nation to neighbouring South Africa and Botswana. There they are able to access international banks.

To remedy the extensive troubles faced in Zimbabwe, Ncube feels that the government needs to explore Bitcoin with a designated cryptocurrency unit. He went on to state that Zimbabwe needed to look at the example set by other nations to alleviate the economic hardships faced in his country. If some countries are interested in digital assets then so too should Zimbabwe:

“One can pay for travel using bitcoin in Switzerland. So, if these countries can see value in this and where it’s headed, we should also pay attention. We have innovative youngsters so the idea shouldn’t be to stop it and say don’t do this, but rather the regulators should invest in catching up with them and find ways to understand it, then you regulate it because you now understand it.”

From what Ncube has stated, it sounds that he wants to see the Zimbabwean government actually buying Bitcoin. That said, it is unclear for now if that is what he meant or he simply feels that the nation needs to explore potential revenue streams surrounding the industry.

If it transpires that the government wants to hold Bitcoin itself, Zimbabwe would become the first nation to openly admit investing in the number one cryptocurrency. Such an embrace of the technology by a nation state would be incredibly bullish for the price and likely force other countries to follow suit.

However, the sentiment expressed recently by Ncube is at odds with the Reserve Bank of Zimbabwe’s cautious stance so far in relation to cryptocurrencies. The institution has previously stated that banks must avoid using digital assets since trading is almost entirely unregulated. These measures are thought to be an effort to protect the public and not endanger a financial system that remains one of the most troubled on the planet.

Featured image from Shutterstock.

The post Zimbabwe’s New Finance Minister Advocates Government Cryptocurrency Unit appeared first on NewsBTC.

Though cryptocurrencies are “perfect”, they have to be better understood, as the world is going through a “digital revolution”, BBVA executive chairman says

Alibaba founder Jack Ma says blockchain will be “meaningless tech” unless it can help evolve society and the manufacturing industry in a “greener and more inclusive” direction

Cloudflare intends to announce a new cryptography-related product every day this week. The first: a gateway to access the InterPlanetary File System.

Caspian, a project aimed at giving crypto traders better tools, has attracted $16 million in funding from top industry investors.

BTC is circling $6,500 and ETH trades close to $220, amid a checkered market outlook

‘Trustworthy’ official government websites have become a prime target for cryptojacking in India, according to new research from local cybersecurity experts

A group of Mastercard patent applications outline how blockchain technology can be used to securely record transaction information.

Litecoin Price Key Highlights

• Litecoin price could be done with its drop as a double bottom may be forming on the 4-hour chart.
• Technical indicators are showing mixed signals at the moment as selling pressure remains present.
• A break past the neckline at $70 could lead to a rally that’s the same height as the chart formation.

Litecoin could be in for a reversal from its slide as a double bottom can be seen on its 4-hour chart, awaiting confirmation.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to suggest that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. However, the gap is pretty narrow so a bearish crossover might be possible while these moving averages also hold as dynamic resistance.

In that case, another test of support around the $48 level could take place. Stronger selling pressure could even spur a break below this level and a continuation of the longer-term downtrend. A break past the moving averages could pave the way for a test of $70.

This would make the double bottom around $22 in height, which suggests that confirmation could spur a rally of the same height. However, RSI is turning south from the overbought zone to signal a return in bearish pressure. Similarly stochastic is heading south so a pickup in selling pressure is due.

LTCUSD Chart from TradingView

Cryptocurrencies seem off to a positive start for the week, though, as there have been no negative reports over the weekend. In fact, the previous trading week ended on a good note with a report suggesting that blockchain industries could add $1 trillion to global trade over the next ten years. With that, market participants appear to be turning their attention back to institutional interest and more M&A activity in the space.

The post Litecoin (LTC) Price Watch: Is That a Double Bottom? appeared first on NewsBTC.

Bitcoin Price Key Highlights

• Bitcoin price appears to be gaining some traction off its recent bounce, possibly forming another double bottom.
• This is a classic reversal formation, so a rally could be due once price breaks past the $7,400 neckline.
• Technical indicators, however, are suggesting that the selloff might still resume.

Bitcoin price might be ready to form another double bottom pattern, but technical indicators suggest that bearish pressure is still here.

Technical Indicators Signals

The 100 SMA is still above the longer-term 200 SMA for now but it looks like a bearish crossover is brewing. In that case, selling pressure could pick up and these moving averages could continue holding as dynamic resistance levels.

A break past the $6,600 area, however, could prevent the bearish crossover from happening and allow bullish pressure to stay in play. This could allow bitcoin price to stay on track towards testing the neckline around $7,400. A break past this could lead to a rally of around $800 or the same height as the double bottom.

RSI is on the move down, though, so bears have the upper hand. Similarly stochastic just made its way down from the overbought zone to signal a return in selling pressure. In that case, bitcoin price could revisit the lows at $6,200 or even break lower for a continuation of the slide.

BTCUSD Chart from TradingView

Market Factors

It seems that buyers are starting off on a relatively positive note so far this week, though, as there have been no negative updates over the weekend. Should this sentiment persist, more and more bulls could reestablish their bitcoin positions and sustain the climb.

The anticipation for the SEC bitcoin ETF ruling is building up as we are past the halfway point of the month and the deadline is around the last week of September. Indications that an approval is likely could mean significant gains for bitcoin price.

The post Bitcoin (BTC) Price Watch: Bullish Reversal Pattern Forming? appeared first on NewsBTC.