Cryptocurrency Daily News Bulletin: April 8, 2019

April 8, 2019 4:29 pm Published by

General News

General Motors (GM) and BMW are backing blockchain tech to share self-driving car data amongst automakers. The Mobility Open Blockchain Initiative’s (MOBI) next working group is on Autonomous Vehicle Data Markets (AVDM) and will be chaired by GM’s Michal Filipowski, manager of global innovation. 

Cryptocurrencies

Bitcoin’s $5,202.27 USD (0.98 percent) broke out from $5,050 resistance, rising 4.89 percent over the weekend and bringing the total crypto market capitalization to 5-month highs. Meanwhile, Bitrefill has launched a new service that simplifies the process of setting up lightning network payment channels. The new Thor Turbo app allows users to bypass the initial 1-hour wait to setup a channel by opening a “turbo channel” with Bitrefill of any size.

Ethereum $177.67 USD (5.72 percent) creator Vitalik Buterin recently met with members of the South Korean parliament and gave a speech on the emerging industry. Buterin is urging leaders in South Korea to support and deregulate blockchain technology, asking lawmakers to abandon the “blockchain, not Bitcoin” stance. 

Ethereum Classic $7.01 USD (3.72 percent) pumped 21 percent after a “community-wide meeting” was held among their network participants discussing the ECIP-1054 upgrade. The proposed hard fork would be performed on block number 8,750,000. 

Ripple 0.354675 USD (-1.89 percent) co-founder Chris Larsen, his wife Lyna Lam and nonprofit foundation Rippleworks have donated $25 million in XRP to San Francisco State University; the “largest gift ever made in a digital asset” to a university in the U.S. The donation will fund two new permanent faculty chairs, the Rippleworks Endowed Chair for Innovation & Entrepreneurship and the Lam-Larsen Endowed Chair in Financial Technology. The chairs will help focus the college on entrepreneurship, commercial incubation, financial technologies and digital currencies. Meanwhile, payments platform Xendpay is now using Ripple to power payments between the UK and Thailand.Xendpay is the sister company of RationalFX, which recently announced it’s also using Ripple’s xCurrent to boost remittances between Europe and Malaysia. RippleNet is also getting support from global IT consulting giant Tata Consultancy Services (TCS), part of Tata Group, with clients such as Citibank UK, General Electric and Microsoft. Their new Quartz Cross Border Remittances solution enables banks/payments systems to connect to DLT based payment infrastructures like RippleNet to process cross border FX remittance transactions. 

Stellar $0.128721 USD (0.19 percent) has gained support from Malta-based crypto exchange CoinDeal. Australian crypto exchange Independent Reserve is also adding XLM, with trading commencing tomorrow. The exchange is now targeting institutional investors after becoming the first in the country to offer insurance coverage to its clients.

Tron $0.028360 USD (-0.41 percent) network facilitated $1.6 billion in activity in the first quarter of 2019, with more than 432,000 estimated users, according to Dapp Review. In total, 64 percent of dapps on the tron network now facilitate gambling. Tron’s new partnership with Tether kicks off tomorrow with the new USDT-Tron coin launching on Tron’s network. The stablecoin will support Tron’s growing network of dApps. Meanwhile Justin Sun claims the Tron ecosystem will “officially collaborate” with Ethereum this year. Sun also announced a second layer scalability solution for Tron, which he claims will increase transaction throughput at least 100 times and decrease fees, will be deployed in Q2 2019. 

– WN.com, Jamie Saarloos



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