Cryptocurrency Daily News Bulletin: February 13, 2019

February 13, 2019 1:19 pm Published by

General News

Boehringer Ingelheim (Canada), a German pharmaceutical multinational, has partnered with IBM “to improve trust, transparency, patient safety and patient empowerment in clinical trials” using the tech giant’s blockchain platform.

GMO, the Japanese IT giant, reported an operating loss of $11.75 million for its crypto business last year. While its exchange business achieved profits of $7 million over the period, GMO’s mining unit continues to decline – recording $18.3 million in total losses. GMO now plans to relocate mining units to a cheaper power supply location by year end. This has not scuppered their plan to launch their yen-backed stablecoin GYEN this year.

Mitsubishi UFJ Financial Group (MUFG), world’s fifth largest bank by assets, is launching a blockchain payments network “by the first half of 2020.” The Global Open Network platform will be developed through a joint venture with U.S. fintech firm Akamai Technologies –claiming the system will be capable of processing more than a million transactions per second.

Morgan Creek, an asset manager focused on institutional clients, announced their new crypto-focused venture fund with $40 million invested. Notably, two public pension funds are anchoring the fund: Fairfax County, Virginia’s Police Officer’s Retirement System and Employees’ Retirement System – the first pensions to gain exposure to the industry.

Oracle announced they now have up to a dozen enterprise customers using live blockchain applications – providing competition against IBM. This includes a cargo tracking consortium called the Global Shipping Business Network (GSBN); China Distance Education Holdings, which shares educational and professional certificates; Circulor, which tracks conflict minerals; and SERES, a solution for dealing with invoices between franchisors.

QuadrigaCX, which owes customers $250 million CAD ($190 million U.S.), lost another $500,000 CAD by mistake last week. EY released a report stating the company accidentally moved more than 100 bitcoins into a cold storage wallet it cannot access.

UC Berkeley has launched a 12-week accelerator program for blockchain startups.

XBT Provider, the Swedish Bitcoin exchange-traded note (ETN) operator has shelved plans to offer altcoin products due to market volatility – citing a lack of knowledge of hard forks.

Cryptocurrencies

EOS $2.86 USD (2.53 percent) surged more than 10 percent overnight, reclaiming its position as the 4th largest crypto. Despite the bear market, EOS has demonstrated continued growth in terms of daily active users of DApps. This compares to Ethereum which has been on a steady decline since September last year.

Litecoin’s $42.64 USD (-1.74 percent) recent strong performance comes at least five months ahead of the mining reward halving – the time at which the amount of litecoins produced as a network subsidy for each transaction block is cut in half. Other analysts have attributed their recent surge to their partnership with Beam to implement privacy transactions. Meanwhile, Mobile app Spend now allows crypto users to buy, sell and pay with LTC at more than 40 million locations.

Ripple $0.302396 USD (0.31 percent) met with Taiwanese lawmaker Karen Yu at its headquarters in San Francisco as part of their push to introduce blockchain, XRP and digital assets at large to influential politicians and regulators in Asia and globally.

– WN.comJamie Saarloos



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