Cryptocurrency Daily News Bulletin: July 24, 2018

July 24, 2018 1:14 pm Published by

General News

Google is increasingly betting on blockchain technology to compete with Amazon and Microsoft in cloud services. They have announced a partnership with start-up Digital Asset to bring blockchain to Google Cloud. The partnership involves Digital Asset providing Google access to a software development kit (SDK) that will let the company’s developers experiment with their Digital Asset Modelling Language (DAML); a simplified way for companies to build blockchain applications for a variety of purposes.

General Electric: The VC arm of General Electric is involved in a $12 million Series A fundraising round for Xage, a cybersecurity startup, indicating the increased potential of blockchain within the energy sector. The firm uses blockchain technology in securely linking IoT devices.

Australia’s national consumer watchdog has warned that cryptocurrency trading scams have grown ‘significantly’ over a 12-month period and are now the second most-common kind of investment scam in the country.

China: Nanjing, Jiangsu’s capital, has committed 10 billion-yuan ($1.5 billion) in a blockchain investment fund. A Beijing-based alliance, Zhongguancun Blockchain Industry Alliance, is teaming up with Nanjing City to launch this blockchain investment fund. Meanwhile, China’s three major telecoms operators launched a blockchain research group, which has held its first meeting. The product of China Mobile, China Unicom and China Telecom, the group involves a total of twenty experts from eight companies including Huawei, Union Mobile, and Financial Technology (UMF).

Coinbase: The freeze on cryptocurrency ads placed by Google, Facebook and several other tech titans is slowly starting to thaw, as they have now re-imposed ads for Coinbase.

Gibraltar’s Stock Exchange has launched a crypto trading platform through its subsidiary the Gibraltar Blockchain Exchange (GBX) which has just gone live and is now open to the public.

Lufthansa has partnered with software giant SAP to launch a blockchain competition aimed to boost blockchain adoption in the airline industry. The Aviation Blockchain Challenge seeks “groundbreaking ideas” for blockchain applications that can advance the airline industry and lead on to pilot programs assisted by Lufthansa and SAP.

UK: The Bank of England’s updated payments system will be compatible with blockchain-based financial technology forms. The announcement is the latest in the BoE’s ongoing efforts to modernize its Real-Time Gross Settlement system (RTGS), which is essential for banking and trading in Britain and handles transactions worth around £500 billion annually. It is expected to launch in 2020 and will be designed to resist cyber-attacks while allowing businesses to use the system directly, rather than through a proxy of a large bank.

US: The Chamber of Commerce, a representative of large corporation and SMEs, offered suggestions to the SEC to provide clarity on the regulatory framework for innovative capital raising methods such as ICOs.

Cryptocurrencies

Aeternity $1.94 USD (0.10 percent) Ventures, the VC arm of the Aeternity blockchain project, announced that it will make a total investment of $1.3 million in 9 different startups that recently completed the month-long aeternity Starfleet incubator program.

Bitcoin $8,075.25 USD (5.02 percent) price is now trading above $8,000, a two-month high. BTC volumes and dominance continue to tick up hitting 46.8% (the highest level since December), whilst altcoins languish. This comes as Gabor Gurbacs, director of Digital Asset Strategy at VanEck, says Bitcoin has cemented its status as the new digital gold, and is likely to lure traditional investors away from precious metals. “Investors do refer to Bitcoin as a form of digital gold, and gold today has around $7 trillion outstanding. If you take, say 5 to 10%, I’ll let everyone do the math – Bitcoin has upside.”

Bitcoin Cash $857.10 USD (5.31 percent): The BCH community are facing heated discussions over a pre-consensus proposal from Bitcoin ABC’s lead developer Amaury Séchet. Pre-Consensus is a series of technologies that would make it possible to establish some standards to determine the characteristics that the next block will have before it is uploaded to the blockchain, which some argue would increase the adoption and functionality of BCH as well as promote scalability solutions.

Ethereum $471.49 USD (1.62 percent): The Xiongan government has signed a MoU with ConsenSys to “establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.” Xiongan is a project of Chinese President Xi Jinping, and the partnership with Ethereum’s development studio marks the first time that Xiongan has publicly enlisted the efforts of a foreign dev studio to contribute to its blockchain efforts. Meanwhile, the popular online wallet for Ether and Ethereum-based tokens, MyEtherWallet, is about to give its huge user base the security of cold-storage right on their phones; launching MEWconnect on iOS and Android. A limited beta version is expected to drop in a matter of days with a full launch expected in September.

IOTA $0.973490 USD (0.20 percent) have made some updates to their wallet such as the additions of a redesigned UI/UX for receive page, addition of an ‘option to add an amount to the received address QR code’, more complex password strength requirements on UI, an automated fingerprint/Face ID on inactivity log out, dashboard on Android and more.

Ripple $0.456861 USD (0.75 percent): A recent poll by Weiss Ratings that was categorized into four with Ethereum, Ripple, Bitcoin and “other” coins placed Ripple ahead of other digital currencies for moving funds between exchanges. Ripple took the lead with 78%, Bitcoin had 6%, while Ethereum and ‘Other’ had 8% votes. This is further indication that users are yarning for ripple on certain exchanges such as Coinbase.

Verge $0.023211 USD (1.28 percent): Marvin Piekarek, a software developer at Verge, updated the crypto-community on the recent developments in the Verge project. The team is designing and coding the newest version of the Verge Wallet, as well as upgrading the Verge Codebase to Bitcoin v.0.13 (mostly because of updated security protocols and plans for further improvements in the future). They are also exploring the potential of the RSK smart contract platform by possibly adding a sidechain.

WN.com, Jamie Saarloos



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